16 unchanged sentences
The Fund calculates VaR using the actual historical market movements of the Fund’s net assets.
−Removed: The following table indicates the trading VaR associated with the Fund’s net assets as of June 30, 2024.
−Removed: For the Six Months Ended
−Removed: June 30, 2024
+Added: The following table indicates the trading VaR associated with the Fund’s net assets as of September 30, 2024.
+Added: For the Nine Months Ended
+Added: September 30, 2024
Daily Volatility
21 unchanged sentences
Investors may lose all or substantially all of their investment in the Fund.
−Removed: The following were the primary trading risk exposures of the Fund as of June 30, 2024 by market sector:
+Added: The following were the primary trading risk exposures of the Fund as of September 30, 2024 by market sector:
+Added: The price of cocoa is volatile.
+Added: The price movement of cocoa may be influenced by a variety of factors, including demand, weather conditions, disease, crop production, transportation costs, political uncertainties and economic concerns.
+Added: The price of coffee is volatile.
+Added: The price movement of coffee may be influenced by a variety of factors, including demand, weather conditions, disease, crop production, transportation costs, political uncertainties and economic concerns.
The price of corn is volatile.
3 unchanged sentences
Additionally, the price movement of corn may be influenced by a variety of other factors, including weather conditions, disease, transportation costs, political uncertainties and economic concerns.
−Removed: Wheat and Kansas City Wheat
−Removed: The price of wheat is volatile.
−Removed: The price movement of wheat may be influenced by three primary supply factors:
−Removed: farmer planting decisions, climate, and government agricultural policies and three major market demand factors:
−Removed: food, shortages or surpluses of world grain supplies, and domestic and foreign government policies and trade agreements.
−Removed: Additionally, the price movement of wheat may be influenced by a variety of other factors, including weather conditions, disease, transportation costs, political uncertainties and economic concerns.
−Removed: The price of soybeans is volatile.
−Removed: The price movement of soybeans may be influenced by a variety of factors, including demand, weather conditions, disease, crop production, transportation costs, political uncertainties and economic concerns.
−Removed: The price of sugar is volatile.
−Removed: The price movement of sugar may be influenced by a variety of factors, including demand, weather conditions, disease, crop production, transportation costs, political uncertainties and economic concerns.
−Removed: The price of cocoa is volatile.
−Removed: The price movement of cocoa may be influenced by a variety of factors, including demand, weather conditions, disease, crop production, transportation costs, political uncertainties and economic concerns.
−Removed: The price of coffee is volatile.
−Removed: The price movement of coffee may be influenced by a variety of factors, including demand, weather conditions, disease, crop production, transportation costs, political uncertainties and economic concerns.
The price of cotton is volatile.
The price movement of cotton may be influenced by a variety of factors, including demand, weather conditions, disease, crop production, transportation costs, political uncertainties and economic concerns.
−Removed: The price of live cattle is volatile.
−Removed: The price movement of live cattle may be influenced by a variety of factors, including demand, weather conditions, disease, agricultural feed prices (i.e.
−Removed: corn, milo, wheat, soybeans, hay and alfalfa), live cattle production, transportation costs, political uncertainties and economic concerns.
Feeder Cattle
5 unchanged sentences
corn), hog production, crop production, transportation costs, political uncertainties and economic concerns.
+Added: The price of live cattle is volatile.
+Added: The price movement of live cattle may be influenced by a variety of factors, including demand, weather conditions, disease, agricultural feed prices (i.e.
+Added: corn, milo, wheat, soybeans, hay and alfalfa), live cattle production, transportation costs, political uncertainties and economic concerns.
+Added: The price of soybeans is volatile.
+Added: The price movement of soybeans may be influenced by a variety of factors, including demand, weather conditions, disease, crop production, transportation costs, political uncertainties and economic concerns.
+Added: The price of sugar is volatile.
+Added: The price movement of sugar may be influenced by a variety of factors, including demand, weather conditions, disease, crop production, transportation costs, political uncertainties and economic concerns.
+Added: Wheat and Kansas City Wheat
+Added: The price of wheat is volatile.
+Added: The price movement of wheat may be influenced by three primary supply factors:
+Added: farmer planting decisions, climate, and government agricultural policies and three major market demand factors:
+Added: food, shortages or surpluses of world grain supplies, and domestic and foreign government policies and trade agreements.
+Added: Additionally, the price movement of wheat may be influenced by a variety of other factors, including weather conditions, disease, transportation costs, political uncertainties and economic concerns.
QUALITATIVE DISCLOSURES REGARDING NON-TRADING MARKET RISK EXPOSURE
8 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.