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 March 31, 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 June 30, 2024.
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: March 31, 2024 as Reported
−Removed: Holdings as of March 31, 2024
+Added: June 30, 2024 as Reported
+Added: Holdings as of June 30, 2024
Number of Contracts Held
7 unchanged sentences
Notional Amount
−Removed: CBOT Corn Futures JUL24
CBOT Corn Futures SEP24
CBOT Corn Futures DEC24
+Added: CBOT Corn Futures DEC25
Total CBOT Corn Futures
4 unchanged sentences
Percent Change in the Net Asset Value per Share
−Removed: March 31, 2024 as Reported
−Removed: Holdings as of March 31, 2024
+Added: June 30, 2024 as Reported
+Added: Holdings as of June 30, 2024
Number of Contracts Held
7 unchanged sentences
Notional Amount
−Removed: CBOT Soybean Futures JUL24
CBOT Soybean Futures NOV24
+Added: CBOT Soybean Futures JAN25
CBOT Soybean Futures NOV25
5 unchanged sentences
Percent Change in the Net Asset Value per Share
−Removed: March 31, 2024 as Reported
−Removed: Holdings as of March 31, 2024
+Added: June 30, 2024 as Reported
+Added: Holdings as of June 30, 2024
Number of Contracts Held
7 unchanged sentences
Notional Amount
−Removed: ICE #11 Sugar Futures JUL24
−Removed: ICE #11 Sugar Futures OCT24
ICE #11 Sugar Futures MAR25
+Added: ICE #11 Sugar Futures MAY25
+Added: ICE #11 Sugar Futures MAR26
Total ICE #11 Sugar Futures
4 unchanged sentences
Percent Change in the Net Asset Value per Share
−Removed: March 31, 2024 as Reported
−Removed: Holdings as of March 31, 2024
+Added: June 30, 2024 as Reported
+Added: Holdings as of June 30, 2024
Number of Contracts Held
7 unchanged sentences
Notional Amount
−Removed: CBOT Wheat Futures JUL24
CBOT Wheat Futures SEP24
CBOT Wheat Futures DEC24
+Added: CBOT Wheat Futures DEC25
Total CBOT Wheat Futures
4 unchanged sentences
Percent Change in the Net Asset Value per Share
−Removed: March 31, 2024 as Reported
−Removed: Holdings as of March 31, 2024
+Added: June 30, 2024 as Reported
+Added: Holdings as of June 30, 2024
Number of Shares Held
36 unchanged sentences
The Fund reports all activity related to EFRP transactions under the procedures and guidelines of the CFTC and the exchanges on which the futures are traded.
−Removed: The Funds, other than TAGS and DEFI, will generally retain cash positions of approximately 95% of total net assets;
+Added: The Funds, other than TAGS, will generally retain cash positions of approximately 95% of total net assets;
this balance represents the total net assets less the initial margin requirements held by the FCM.
−Removed: DEFI will generally retain cash positions of approximately 70% of total net assets.
These cash assets are either:
1 unchanged sentence
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.