Risk Factors.
−Removed: in futures contracts are subject to current position limits and accountability levels established by the exchanges.
−Removed: Accordingly, the
−Removed: Sponsor and the Funds may be required to reduce the size of outstanding positions or be restricted from entering into new positions that
−Removed: would otherwise be taken for a Fund or not trade in certain markets on behalf of the Fund in order to comply with those limits or any
−Removed: future limits.
−Removed: These restrictions, if implemented, could limit the ability of each Fund to invest in additional futures contracts, add
−Removed: to existing positions in the desired amount, or create additional Creation Units and could otherwise have a significant negative impact
−Removed: on Fund operations and performance, decreasing a Fund’s correlation to the performance of its benchmark, and otherwise preventing
−Removed: a Fund from achieving its investment objective.
+Added: Investments in futures contracts are
+Added: subject to current position limits and accountability levels established by the exchanges.
+Added: Accordingly, the Sponsor and the Funds may
+Added: be required to reduce the size of outstanding positions or be restricted from entering into new positions that would otherwise be taken
+Added: for a Fund or not trade in certain markets on behalf of the Fund in order to comply with those limits or any future limits.
+Added: These restrictions,
+Added: if implemented, could limit the ability of each Fund to invest in additional futures contracts, add to existing positions in the desired
+Added: amount, or create additional Creation Units and could otherwise have a significant negative impact on Fund operations and performance,
+Added: decreasing a Fund’s correlation to the performance of its benchmark, and otherwise preventing a Fund from achieving its investment
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.