1 unchanged sentence
Quantitative Disclosure
−Removed: The Trust is exposed to commodity price risk through the Trust’s holdings of Index Futures.
−Removed: The following table provides information about the Trust’s futures contract positions, which are sensitive to changes in commodity prices.
−Removed: As of September 30, 2023, the Trust’s open Index Futures positions (long) were as follows:
+Added: The Trust is exposed to commodity price risk through the Trust’s holdings of Index Futures.
+Added: The following table provides information about the Trust’s futures contract positions, which are sensitive to changes in commodity prices.
+Added: As of March 31, 2024, the Trust’s open Index Futures positions (long) were as follows:
Number of contracts:
Expiration date:
−Removed: December 2023
Weighted-average price per contract:
1 unchanged sentence
1,032,162,638
−Removed: The notional amount is calculated using the settlement price for the Index Futures on the CME on September 30, 2023, which was $323.04 per contract, and the $100 multiplier applicable under the contract terms.
+Added: The notional amount is calculated using the settlement price for the Index Futures on the CME on March 31, 2024, which was $309.88 per contract, and the $100 multiplier applicable under the contract terms.
The Trust has non-trading market risk as a result of investing in short-term U.S.
2 unchanged sentences
As described herein, the Trust seeks to track the results of a fully collateralized investment in futures contracts on an index composed of a diversified group of commodities futures.
−Removed: The Trust seeks to track the investment returns of the Index before payment of the Trust’s expenses and liabilities.
+Added: The Trust seeks to track the investment returns of the Index before payment of the Trust’s expenses and liabilities.
The Index itself is intended to reflect the performance of a diversified group of physical commodities, including energy commodities, precious and industrial metal commodities, agricultural commodities and livestock commodities.
−Removed: The Trust obtains this exposure to commodity prices through the Trust’s Index Futures positions.
−Removed: As a result, fluctuations in the value of the Trust’s Index Futures are expected to directly affect the value of the Shares.
−Removed: The Trust will not engage in any activities designed to obtain a profit from, or ameliorate losses caused by, changes in the level of the Index or the S&P GSCI‑ER, or the value of any Collateral Assets.
−Removed: The Trust’s exposure to market risk may be influenced by a number of factors, including the lack of liquidity of the Index Futures market and activities of other market participants.
+Added: The Trust obtains this exposure to commodity prices through the Trust’s Index Futures positions.
+Added: As a result, fluctuations in the value of the Trust’s Index Futures are expected to directly affect the value of the Shares.
+Added: The Trust will not engage in any activities designed to obtain a profit from, or ameliorate losses caused by, changes in the level of the Index or the S&P GSCI‑ER, or the value of any Collateral Assets.
+Added: The Trust’s exposure to market risk may be influenced by a number of factors, including the lack of liquidity of the Index Futures market and activities of other market participants.
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.