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