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 June 30, 2025.
+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, 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: June 30, 2025 as Reported
−Removed: Holdings as of June 30, 2025
+Added: September 30, 2025 as Reported
+Added: Holdings as of September 30, 2025
Number of Contracts Held
7 unchanged sentences
Notional Amount
−Removed: CBOT Corn Futures SEP25
−Removed: CBOT Corn Futures DEC25
+Added: CBOT Corn Futures MAR26
+Added: CBOT Corn Futures MAY26
CBOT Corn Futures DEC26
5 unchanged sentences
Percent Change in the Net Asset Value per Share
−Removed: June 30, 2025 as Reported
−Removed: Holdings as of June 30, 2025
+Added: September 30, 2025 as Reported
+Added: Holdings as of September 30, 2025
Number of Contracts Held
7 unchanged sentences
Notional Amount
−Removed: CBOT Soybean Futures NOV25
CBOT Soybean Futures JAN26
+Added: CBOT Soybean FuturesMAR26
CBOT Soybean Futures NOV26
5 unchanged sentences
Percent Change in the Net Asset Value per Share
−Removed: June 30, 2025 as Reported
−Removed: Holdings as of June 30, 2025
+Added: September 30, 2025 as Reported
+Added: Holdings as of September 30, 2025
Number of Contracts Held
7 unchanged sentences
Notional Amount
−Removed: ICE #11 Sugar Futures MAR26
ICE #11 Sugar Futures MAY26
+Added: ICE #11 Sugar Futures JUL26
ICE #11 Sugar Futures MAR27
5 unchanged sentences
Percent Change in the Net Asset Value per Share
−Removed: June 30, 2025 as Reported
−Removed: Holdings as of June 30, 2025
+Added: September 30, 2025 as Reported
+Added: Holdings as of September 30, 2025
Number of Contracts Held
7 unchanged sentences
Notional Amount
−Removed: CBOT Wheat Futures SEP25
−Removed: CBOT Wheat Futures DEC25
+Added: CBOT Wheat Futures MAR26
+Added: CBOT Wheat Futures MAY26
CBOT Wheat Futures DEC26
5 unchanged sentences
Percent Change in the Net Asset Value per Share
−Removed: June 30, 2025 as Reported
−Removed: Holdings as of June 30, 2025
+Added: September 30, 2025 as Reported
+Added: Holdings as of September 30, 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.