What changed in this filing

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Item 1A. Risk Factors

2021-08-06 compared with 2021-05-07 · 22 added, 22 removed, 1 unchanged (98% of the section changed)

for the risk factor set forth below, there have been no material changes to the risk factors previously disclosed in the Trust’s

Annual Report on Form 10-K for the fiscal year ended December 31, 2020.

respiratory illness COVID-19 caused by a novel coronavirus has resulted in a global pandemic and major disruption to economies

and markets around the world, including the United States.

Financial markets have experienced extreme volatility and trading in

many instruments has been disrupted.

Liquidity for many instruments has been greatly reduced for periods of time.

Some interest

rates are very low and in some cases yields are negative.

Some sectors of the economy and individual issuers have experienced

particularly large losses.

These circumstances may continue for an extended period of time, and may continue to affect adversely

the value and liquidity of the Trust’s investments.

The ultimate economic fallout from the pandemic, and the long-term impact

on economies, markets, industries and individual issuers, including Shares of the Trust, are not known.

The information technology

and other operational systems upon which the Trust’s service providers rely could be impaired and the ability of employees

Except for the risk factor set forth below, there have been no

material changes to the risk factors previously disclosed in the Trust’s Annual Report on Form 10-K for the fiscal year ended December

Effects of COVID-19

The respiratory illness COVID-19 caused by a novel coronavirus

has resulted in a global pandemic and major disruption to economies and markets around the world, including the United States.

markets have experienced extreme volatility and trading in many instruments has been disrupted.

Liquidity for many instruments has been

greatly reduced for periods of time.

Some interest rates are very low and in some cases yields are negative.

Some sectors of the economy

and individual issuers have experienced particularly large losses.

These circumstances may continue for an extended period of time, and

may continue to affect adversely the value and liquidity of the Trust’s investments.

The ultimate economic fallout from the pandemic,

and the long-term impact on economies, markets, industries and individual issuers, including Shares of the Trust, are not known.

The information

technology and other operational systems upon which the Trust’s service providers rely could be impaired and the ability of employees

of the Trust’s service providers to perform essential tasks on behalf of the Trust could be disrupted.

Governments and central

banks, including the Federal Reserve in the U.S., have taken extraordinary and unprecedented actions to support local and global

economies and the financial markets.

The impact of these measures, and whether they will be effective to mitigate the economic

and market disruption, will not be known for some time.

Governments and central banks,

including the Federal Reserve in the U.S., have taken extraordinary and unprecedented actions to support local and global economies and

the financial markets.

The impact of these measures, and whether they will be effective to mitigate the economic and market disruption,

will not be known for some time.

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.

What changed 10-Q

Item 1A. Risk Factors