There are risks involved with investing in ETFs, including possible loss of money. The fund is actively managed. Shares are subject to risks similar to those of stocks, including those regarding short selling and margin maintenance requirements. Ordinary brokerage commissions apply. There can be no assurance that the fund's investment objective will be achieved.
Because the fund is non-diversified and can invest a greater portion of its assets in securities of individual issuers than a diversified fund, changes in the market value of a single investment could cause greater fluctuations in share price than would occur in a diversified fund. The fund may invest in commodity futures contracts traded on non-U.S. exchanges or enter into over the-counter derivative contracts with non-U.S. counterparties. The fund is subject to counterparty risk, options risk, pooled investment vehicle risk, swaps risk and more.
The fund seeks to provide investors with total return.
The S&P GSCI Index comprises the principal physical commodities of active, liquid futures markets and is recognized as a leading measure of general price movements and inflation in the world economy. S&P® is a registered trademark of Standard & Poor's Financial Services LLC (S&P). One cannot invest directly in an index.
This fund is new and has a limited operating history.
Shares of ETFs are bought and sold at market price (not NAV) and are not individually redeemed from the Fund. Market returns are based upon the midpoint of the bid/ask spread at 4:00pm eastern time (when NAV is normally determined for most ETFs), and do not represent the returns you would receive if you traded shares at other times.