13 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 September 30, 2024.
+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 March 31, 2025.
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: September 30, 2024 as Reported
−Removed: Holdings as of September 30, 2024
+Added: March 31, 2025 as Reported
+Added: Holdings as of March 31, 2025
Number of Contracts Held
7 unchanged sentences
Notional Amount
−Removed: CBOT Corn Futures MAR25
−Removed: CBOT Corn Futures MAY25
+Added: CBOT Corn Futures JUL25
+Added: CBOT Corn Futures SEP25
CBOT Corn Futures DEC25
5 unchanged sentences
Percent Change in the Net Asset Value per Share
−Removed: September 30, 2024 as Reported
−Removed: Holdings as of September 30, 2024
+Added: March 31, 2025 as Reported
+Added: Holdings as of March 31, 2025
Number of Contracts Held
7 unchanged sentences
Notional Amount
−Removed: CBOT Soybean Futures JAN25
−Removed: CBOT Soybean Futures MAR25
+Added: CBOT Soybean Futures JUL25
CBOT Soybean Futures NOV25
+Added: CBOT Soybean Futures NOV26
Total CBOT Soybean Futures
4 unchanged sentences
Percent Change in the Net Asset Value per Share
−Removed: September 30, 2024 as Reported
−Removed: Holdings as of September 30, 2024
+Added: March 31, 2025 as Reported
+Added: Holdings as of March 31, 2025
Number of Contracts Held
7 unchanged sentences
Notional Amount
−Removed: ICE #11 Sugar Futures MAY25
ICE #11 Sugar Futures JUL25
+Added: ICE #11 Sugar Futures OCT25
ICE #11 Sugar Futures MAR26
5 unchanged sentences
Percent Change in the Net Asset Value per Share
−Removed: September 30, 2024 as Reported
−Removed: Holdings as of September 30, 2024
+Added: March 31, 2025 as Reported
+Added: Holdings as of March 31, 2025
Number of Contracts Held
7 unchanged sentences
Notional Amount
−Removed: CBOT Wheat Futures MAR25
−Removed: CBOT Wheat Futures MAY25
+Added: CBOT Wheat Futures JUL25
+Added: CBOT Wheat Futures SEP25
CBOT Wheat Futures DEC25
5 unchanged sentences
Percent Change in the Net Asset Value per Share
−Removed: September 30, 2024 as Reported
−Removed: Holdings as of September 30, 2024
+Added: March 31, 2025 as Reported
+Added: Holdings as of March 31, 2025
Number of Shares Held
41 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.