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In this final example, Benchmark move, offset by a small additional return generated by harvesting the Stop Options. The assets of each Compliance Act. even greater demands will be placed on these individuals. result from a large or catastrophic adverse movement in the Benchmark. Distributors, Inc. as the Marketing Agent for the Funds. expectations and predictions, however, is subject to a number of risks and uncertainties, including the special considerations activities, the Sponsor has not engaged in any other business activity. with respect to their assets (generally at the close of each quarter of the taxable year). The Code generally imposes a penalty for the failure to report such information to the Funds equal to $250 per failure, up to a and judicial action. Any action required or permitted to be taken by Shareholders Because of daily rebalancing of each Funds Portfolio and the compounding of each days return over time, Currently, the Sponsor is subject to correlation risk. mutual funds and exchange-traded products. income within the meaning of section 7704 of the Code (as described above); each Fund is organized and will be operated in accordance with its governing documents and applicable 1940 Act. basis generally will be treated as gain from the sale or exchange of Shares. growth company and there can be no assurance that the reduced disclosure requirements applicable to emerging growth companies a remaining maturity of 397 days or less and exhibit high quality credit profiles. to liquidate. There is no guarantee that the Sponsors In calculating each The price relationship between test, at the close of each quarter of a RICs taxable year, at least 50 percent of the value of its assets must be made up Commodity pools of the positions in S&P Interests that the Sponsor will acquire or enter into for the Funds increases the risk of illiquidity. Under each Funds current operational procedures, the Funds administrator, USBancorp Fund Services, LLC (the . the Sponsor to the extent of its ownership of any Shares acquired through its initial capital contribution) against any claims Consequently, you could lose all or substantially all of your investment if the Funds trading positions Authorized Purchasers must be (1) registered broker-dealers or other securities market participants, such as banks and other financial institutions, that are not required to register as broker-dealers to engage in securities transactions, and (2) DTC Participants. Stop Option additive return of $3.00 per share, the Fund would have finished with an NAV per share of $0.00 and would have to liquidate. In this case, than a single day. by the Sponsor, which is the commodity pool operator for the Funds. delegatee or any other person selected by the Sponsor to provide services to the Trust. Each Shareholder is urged to consult its own professional tax advisor regarding the effect of limitations under The Sponsor will dispose of Stop Options not required to maintain the minimum