span style="color:#000000;font-family:Arial;font-size:8.645pt;margin-left:0.00%;"The Index is a rules-based index that attempts to capture upward trends in the commodity markets while minimizing risk during downward trends by tracking a portfolio of commodity futures contracts. Futures contracts on commodities generally are agreements between two parties where one party agrees to buy, and the counterparty to sell, a set amount of a physical commodity (or, in some contracts, a cash equivalent) at a pre-determined future date and price. The value of commodity futures contracts is based upon the price movements of the underlying /spanspan style="color:#000000;font-family:Arial;font-size:8.645pt;"commodities during the term of a futures contract. /spanspan style="color:#000000;font-family:Arial;font-size:8.645pt;margin-left:0.00%;"The Index uses a quantitative methodology to track a portfolio of 12 different commodity futures contracts, or “components,” which are soybeans, corn, wheat, cotton, sugar, crude oil, natural gas, gasoline, heating oil, copper, gold and silver. These 12 components are grouped into 3 sectors: Agriculture, Energy, and Metals. The position size of each component included in the Index is dependent on the historical volatility of that component and the total Index value, and is determined independent of the volatility and position of /spanspan style="color:#000000;font-family:Arial;font-size:8.645pt;"any the other components of the Index. /spanspan style="color:#000000;font-family:Arial;font-size:8.645pt;margin-left:0.00%;"Each Index component is positioned either long or flat (/spanspan style="color:#000000;font-family:Arial;font-size:8.645pt;font-style:italic;"i.e./spanspan style="color:#000000;font-family:Arial;font-size:8.645pt;", /spanspan style="color:#000000;font-family:Arial;font-size:8.645pt;margin-left:0.00%;"no position, which has the effect of removing exposure to a particular commodity) by the Index, depending upon the prevailing price trend of the component. When the Index rules indicate that a component should have a flat position, the Index will not have exposure to that component, and at times the Index may not have exposure to all 12 commodities that comprise the Index. The Fund will generally reposition the size of each component following each month-end in accordance with the rebalancing of the Index, but the position in a component may change from a long position to a flat position, or vice versa, in a given commodity on a daily basis if the Index methodology so determines. The Index will replace expiring commodity futures contracts based on an optimized roll process that selects a contract from the universe of all exchange-traded commodity futures /spanspan style="color:#000000;font-family:Arial;font-size:8.645pt;"contracts within the next 13-month period./spanspan style="color:#000000;font-family:Arial;font-size:8.645pt;margin-left:0.00%;"As of December 29, 2024, the Index had long exposure to natural gas, gold, silver, corn and sugar, which provide exposure to the Agriculture, Energy, and Metals sectors, and the Index had flat exposure to soybeans, wheat, cotton, crude oil, gasoline, heating oil, and copper. The concentration /spanspan style="color:#000000;font-family:Arial;font-size:8.645pt;"in a sector or specific commodity may change over time. /spanspan style="color:#000000;font-family:Arial;font-size:8.645pt;margin-left:0.00%;"Under normal circumstances, the Fund generally will invest indirectly, through a wholly-owned and controlled subsidiary /spanspan style="color:#000000;font-family:Arial;font-size:8.645pt;margin-left:0.00%;"(the “Subsidiary”) in some or all of 12 components of the Index. The Fund’s investment in the Subsidiary is expected to provide the Fund with exposure to the commodity components in a manner that permitted by the federal tax laws, which limit the ability of investment companies such as the Fund to invest directly in such instruments. In addition to investing in the Subsidiary, the Fund will invest, directly and indirectly (through the Subsidiary) in commodity futures, as well as certain short-term fixed-income investments certain of which are intended to serve as margin or collateral for the Subsidiary’s commodity futures positions. The Adviser will use its discretion to determine how much of the Fund’s total assets to invest in the Subsidiary, however, the Fund’s investment in the Subsidiary may not exceed 25% of the value of its total assets at the end of each quarter of its taxable year, except in certain circumstances. The Subsidiary operates under Cayman Islands law and is advised by the Adviser. The Subsidiary has the same investment objective as the Fund and will follow the same general investment policies and restrictions. Except as noted, for purposes of this Prospectus, references to the Fund’s investment strategies /spanspan style="color:#000000;font-family:Arial;font-size:8.645pt;"and risks include those of its Subsidiary./spanspan style="color:#000000;font-family:Arial;font-size:8.645pt;margin-left:0.00%;"The Fund uses a “passive” or indexing approach to attempt to achieve its investment objective. The Fund does not try to outperform the Index. Although the Fund intends to fully replicate the Index, at times the Fund may hold a representative sample of the components of the Index that have aggregate characteristics similar to those of the Index. This means the Fund may not hold all of the financial instruments included in the Index, its weighting of investment exposure to such financial instruments or commodities may be different from that of the Index and it may hold financial instruments that are not included in the Index but are designed to help the Fund track the Index. The Fund will /spanspan style="color:#000000;font-family:Arial;font-size:8.645pt;"rebalance its portfolio when the Index rebalances./spanspan style="color:#000000;font-family:Arial;font-size:8.645pt;margin-left:0.00%;"The Fund is “non-diversified,” meaning that a relatively high percentage of its assets may be invested in a limited number of issuers. Additionally, the Fund’s investment objective is not a fundamental policy and may be changed by the Fund’s /spanspan style="color:#000000;font-family:Arial;font-size:8.645pt;"Board of Trustees without shareholder approval./span