USO Oil ETF Faces U.S. Probes Over Investor Risk Disclosures (2)

A popular exchange traded fund that uses complex derivatives to track oil is being investigated by U.S. regulators over whether its risks were properly disclosed to investors, scrutiny triggered by crude’s historic slump during the coronavirus crisis, said three people familiar with the matter.

The Securities and Exchange Commission and the Commodity Futures Trading Commission have both opened probes into the $4.64 billion United States Oil Fund, said the people who asked not to be named because the matter is private. The fund has lost 75% of its value this year.

Issues the agencies are examining, the people said, ...