United States Commodity Funds (USCF), the issuer of popular commodities exchange traded funds such as the United States Oil Fund (NYSEArca: USO) and the United States Brent Oil Fund (NYSEArca: BNO), is planning an exchange traded product that focuses on Canadian oil.

California-based USCF is working with Auspice Capital Advisors, Ltd. (Auspice), a Canada-based alternatives fund manager, to develop an ETF that tracks the price movements of the Canadian Crude Excess Return Index (CCIER).

Related: The Worst Could be Over for Oil ETFs

That index “was created by Auspice to mirror the returns investors would receive if they held an approximately 3-month rolling fixed price position in the nearby Western Canadian Select futures contracts, including rolling and rebalancing. The CCIER is closely related to Auspice’s Canadian Crude Index (CCI), a benchmark that provides a reference price for the bulk of the crude oil produced and traded in Canada (ticker CDNCRUDE). Both are published and calculated by the New York Stock Exchange (NYSE),” according to a statement issued by Auspice and USCF.

After lagging over the past couple of years, oil ETFs such as BNO and USO, have helped drive the commodities complex higher in 2016.

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