24 unchanged sentences
TAGS is subject to the risks of the commodity specific futures contracts of the Underlying Funds as the fair value of its holdings is based on the NAV of each of the Underlying Funds, each of which is directly impacted by the factors discussed above.
−Removed: The tables below present a quantitative analysis of hypothetical impact of price decreases and increases in each of the commodity or cryptocurrency futures contracts held by each of the Funds, or the Underlying Funds in the case of TAGS, on the actual holdings and NAV per share as of June 30, 2023.
+Added: The tables below present a quantitative analysis of hypothetical impact of price decreases and increases in each of the commodity or cryptocurrency futures contracts held by each of the Funds, or the Underlying Funds in the case of TAGS, on the actual holdings and NAV per share as of September 30, 2023.
For purposes of this analysis, all futures contracts held by the Funds and the Underlying Funds are assumed to change by the same percentage.
1 unchanged sentence
There may be very slight and immaterial differences, due to rounding, in the tables presented below.
−Removed: June 30, 2023 as Reported
−Removed: Holdings as of June 30, 2023
+Added: September 30, 2023 as Reported
+Added: Holdings as of September 30, 2023
Number of Contracts Held
7 unchanged sentences
Notional Amount
−Removed: CBOT Corn Futures SEP23
−Removed: CBOT Corn Futures DEC23
+Added: CBOT Corn Futures MAR24
+Added: CBOT Corn Futures MAY24
CBOT Corn Futures DEC24
5 unchanged sentences
Percent Change in the Net Asset Value per Share
−Removed: June 30, 2023 as Reported
−Removed: Holdings as of June 30, 2023
+Added: September 30, 2023 as Reported
+Added: Holdings as of September 30, 2023
Number of Contracts Held
7 unchanged sentences
Notional Amount
−Removed: CBOT Soybean Futures NOV23
CBOT Soybean Futures JAN24
+Added: CBOT Soybean Futures MAR24
CBOT Soybean Futures NOV24
5 unchanged sentences
Percent Change in the Net Asset Value per Share
−Removed: June 30, 2023 as Reported
−Removed: Holdings as of June 30, 2023
+Added: September 30, 2023 as Reported
+Added: Holdings as of September 30, 2023
Number of Contracts Held
7 unchanged sentences
Notional Amount
−Removed: ICE #11 Sugar Futures MAR24
ICE #11 Sugar Futures MAY24
+Added: ICE #11 Sugar Futures JUL24
ICE #11 Sugar Futures MAR25
5 unchanged sentences
Percent Change in the Net Asset Value per Share
−Removed: June 30, 2023 as Reported
−Removed: Holdings as of June 30, 2023
+Added: September 30, 2023 as Reported
+Added: Holdings as of September 30, 2023
Number of Contracts Held
7 unchanged sentences
Notional Amount
−Removed: CBOT Wheat Futures SEP23
−Removed: CBOT Wheat Futures DEC23
+Added: CBOT Wheat Futures MAR24
+Added: CBOT Wheat Futures MAY24
CBOT Wheat Futures DEC24
5 unchanged sentences
Percent Change in the Net Asset Value per Share
−Removed: June 30, 2023 as Reported
−Removed: Holdings as of June 30, 2023
+Added: September 30, 2023 as Reported
+Added: Holdings as of September 30, 2023
Number of Shares Held
9 unchanged sentences
Percent Change in the Net Asset Value per Share
−Removed: June 30, 2023 as Reported
−Removed: Holdings as of June 30, 2023
+Added: September 30, 2023 as Reported
+Added: Holdings as of September 30, 2023
Number of Contracts Held
7 unchanged sentences
Notional Amount
−Removed: CME Bitcoin Futures JUL23
−Removed: CME Bitcoin Futures AUG23
+Added: CME Bitcoin Futures OCT23
+Added: CME Bitcoin Futures NOV23
Total CME Bitcoin Futures
6 unchanged sentences
A margin deposit acts to assure the trader’s performance of the futures contracts purchased or sold.
−Removed: Futures contracts are customarily bought and sold on initial margin that represents a very small percentage of the aggregate purchase or sales price of the contract.
+Added: Futures contracts are customarily bought and sold on initial margin that represents a small percentage of the aggregate purchase or sales price of the contract.
Because of such low margin requirements, price fluctuations occurring in the futures markets may create profits and losses that, in relation to the amount invested, are greater than customary in other forms of investment or speculation.
34 unchanged sentences
Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.