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Teucrium Agricultural Strategy No K-1 ETF

Active ETF
TILL
Payout Change
Pending
Price as of:
$21.43 -0.04 -0.19%
primary theme
N/A
TILL (ETF)

Teucrium Agricultural Strategy No K-1 ETF

Payout Change
Pending
Price as of:
$21.43 -0.04 -0.19%
primary theme
N/A
TILL (ETF)

Teucrium Agricultural Strategy No K-1 ETF

Payout Change
Pending
Price as of:
$21.43 -0.04 -0.19%
primary theme
N/A

Name

As of 04/25/2024

Price

Aum/Mkt Cap

YIELD

Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.

Exp Ratio

Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.

Watchlist

Teucrium Agricultural Strategy No K-1 ETF

TILL | Active ETF

$21.43

$2.64 M

53.19%

$11.37

1.63%

Vitals

YTD Return

-3.4%

1 yr return

-7.0%

3 Yr Avg Return

N/A

5 Yr Avg Return

N/A

Net Assets

$2.64 M

Holdings in Top 10

88.9%

52 WEEK LOW AND HIGH

$21.5
$20.59
$38.37

Expenses

OPERATING FEES

Expense Ratio 1.63%

SALES FEES

Front Load N/A

Deferred Load N/A

TRADING FEES

Turnover N/A

Redemption Fee N/A

Min Investment

Standard (Taxable)

N/A

IRA

N/A

Fund Classification

Fund Type

Exchange Traded Fund

Name

As of 04/25/2024

Price

Aum/Mkt Cap

YIELD

Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.

Exp Ratio

Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.

Watchlist

Teucrium Agricultural Strategy No K-1 ETF

TILL | Active ETF

$21.43

$2.64 M

53.19%

$11.37

1.63%

TILL - Profile

Distributions

  • YTD Total Return -3.4%
  • 3 Yr Annualized Total Return N/A
  • 5 Yr Annualized Total Return N/A
  • Capital Gain Distribution Frequency N/A
  • Net Income Ratio N/A
DIVIDENDS
  • Dividend Yield 53.2%
  • Dividend Distribution Frequency Annual

Fund Details

  • Legal Name
    Teucrium Agricultural Strategy No K-1 ETF
  • Fund Family Name
    N/A
  • Inception Date
    May 17, 2022
  • Shares Outstanding
    N/A
  • Share Class
    N/A
  • Currency
    USD
  • Domiciled Country
    US
  • Manager
    Springer Harris

Fund Description

The Fund is an actively managed exchange-traded fund (“ETF”) that seeks capital appreciation by investing primarily in agricultural commodities futures contracts traded on the Chicago Board of Trade (“CBOT”) or Intercontinental Exchange Inc. (“ICE”). The Fund’s portfolio holdings will consist of four commodities futures holdings, one in each of the following commodities: corn, wheat, soybeans, and sugar (each, a “Component Futures Contract”). The portfolio will be rebalanced, generally on a monthly basis, in order to maintain approximately a 25% allocation of the Fund’s assets to each Component Futures Contract. Unlike many other commodity-based exchange-traded products, the Fund will not issue its shareholders a Schedule K-1 for tax reporting purposes, which can increase the complexity of a shareholder’s tax reporting. Instead, the Fund is designed to be taxed as a conventional mutual fund and will issue a Form 1099 to its shareholders for tax reporting purposes. A consequence of the Fund’s tax status is that it generally is
limited to obtaining its exposure to the Component Futures Contracts through the Subsidiary, which is defined and described in the paragraphs that follow.
The Fund will invest indirectly, via a wholly-owned subsidiary of the Fund organized under the laws of the Cayman Islands (the “Subsidiary”), in commodity futures, which are standardized futures contracts on commodities traded on the CBOT or ICE. As the futures contracts approach expiration, they may be replaced by similar contracts that have a later expiration. This process is referred to as “rolling.” Futures holdings will not be rolled on a predetermined schedule. Instead, prior to becoming the new spot month, holdings will be rolled within the same commodity into a position on the futures curve that in the opinion of the Adviser generates the most optimal yield under prevailing market conditions. At times, commodities futures with a longer term to expiration may be priced higher than commodities futures with a shorter term to expiration, which is known as “contango.” The Adviser generally will attempt to minimize the negative impact from rolling commodities futures that are in contango when possible as doing so would result in the Fund selling the expiring contract at a lower price and buying a longer-term contract at a higher price, producing a negative roll yield. Conversely, commodities futures with a longer term to expiration may be priced lower than commodities futures with a shorter term to expiration, known as “backwardation.” Rolling commodities futures in backwardation generally involves selling an expiring contract at a higher price and buying a longer-term contract at a lower price, producing positive roll yield. However, there can be no guarantee that such a strategy will produce the desired results.
The Fund expects to gain exposure to commodities futures by investing in the Subsidiary. The Adviser also serves as the investment adviser to the Subsidiary. The Fund’s investment in the Subsidiary is intended to provide the Fund with indirect exposure to commodities futures within the limits of current federal income tax laws applicable to investment companies such as the Fund, which limit the ability of investment companies to invest directly in commodities futures. The Subsidiary has the same investment objective as the Fund, but it may invest in commodities futures to a greater extent than the Fund. Except as otherwise noted, for purposes of this Prospectus, references to the Fund’s investments include the Fund’s indirect investments through the Subsidiary. Because the Fund intends to elect to be treated as a regulated investment company (“RIC”) under the Internal Revenue Code of 1986, as amended (the “Code”), the size of the Fund’s investment in the Subsidiary generally will be limited to 25% of the Fund’s total assets, tested at the end of each fiscal quarter.
Although the Fund does not seek leveraged returns, investing in the Component Futures Contracts may have a leveraging effect on the Fund. The Fund will invest in cash, cash-like instruments and/or high-quality securities (collectively, “Collateral”). The Collateral may consist of: (i) U.S. Government securities, such as bills, notes and bonds issued by the U.S. Treasury; (ii) money market funds; and/or (iii) corporate debt securities, such as commercial paper and other short-term unsecured promissory notes issued by businesses that are rated investment grade or determined by the Adviser to be of comparable quality. Such Collateral is designed to provide liquidity, serve as margin or otherwise collateralize the Fund’s investments in Component Futures Contracts and other commodities-related investments. Cash and cash equivalents may include short-term Treasury bills, money market funds, demand deposit account, and commercial paper.
The Adviser may determine to modify the extent of the Fund’s exposure to agricultural commodities in response to extreme market conditions, as determined in the sole discretion of the Adviser, and to avoid exceeding any position limits applicable to agricultural commodities futures, including the Component Futures Contracts, established by the CBOT, ICE, or the CFTC. These position limits may hinder the Fund’s ability to enter into the desired amount of Component Futures Contracts at times. Because of the anticipated size of the Fund’s Component Futures Contracts holdings relative to the size of the futures market, the Adviser does not anticipate that the CBOT or ICE position limits will adversely affect the Fund’s ability to seek its target exposure until the Fund’s assets under management grow significantly. Any determination to modify the Fund’s exposure to agricultural commodities may cause the Fund to liquidate its Component Futures Contracts holdings at disadvantageous times or prices, potentially subjecting the Fund to substantial losses, and prevent the Fund from achieving its investment objective. There can be no assurance that the Fund will be able to achieve or maintain its targeted investment allocation to the Component Futures Contracts.
The Fund is classified as a “non-diversified” investment company under the Investment Company Act of 1940, as amended (the “1940 Act”) and, therefore, may invest a greater percentage of its assets in a particular issuer than a diversified fund. The Fund will not concentrate its investments (i.e., hold more than 25% of its total assets) in any industry or group of related industries. The Fund, however, may invest more than 25% of its total assets in investments that provide exposure to agricultural commodities.
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TILL - Performance

Return Ranking - Trailing

Period TILL Return Category Return Low Category Return High Rank in Category (%)
YTD -3.4% -39.0% 55.2% N/A
1 Yr -7.0% -60.4% 1743.4% N/A
3 Yr N/A* -24.7% 188.9% N/A
5 Yr N/A* -26.1% 82.1% N/A
10 Yr N/A* -20.5% 27.8% N/A

* Annualized

Return Ranking - Calendar

Period TILL Return Category Return Low Category Return High Rank in Category (%)
2023 -37.0% -58.5% 2475.6% N/A
2022 N/A -87.8% 170.8% N/A
2021 N/A -38.3% 438.4% N/A
2020 N/A -81.2% 208.1% N/A
2019 N/A -29.0% 34.3% N/A

Total Return Ranking - Trailing

Period TILL Return Category Return Low Category Return High Rank in Category (%)
YTD -3.4% -49.6% 119.0% N/A
1 Yr -7.0% -60.4% 1743.4% N/A
3 Yr N/A* -24.7% 188.9% N/A
5 Yr N/A* -26.1% 82.1% N/A
10 Yr N/A* -20.5% 28.7% N/A

* Annualized

Total Return Ranking - Calendar

Period TILL Return Category Return Low Category Return High Rank in Category (%)
2023 -4.5% -58.5% 2475.6% N/A
2022 N/A -87.8% 170.8% N/A
2021 N/A -38.3% 438.4% N/A
2020 N/A -81.2% 208.1% N/A
2019 N/A -29.0% 34.3% N/A

TILL - Holdings

Concentration Analysis

TILL Category Low Category High TILL % Rank
Net Assets 2.64 M 348 K 63.1 B 96.04%
Number of Holdings 5 1 846 N/A
Net Assets in Top 10 2.46 M 0 63.2 B N/A
Weighting of Top 10 88.87% 20.7% 100.0% N/A

Top 10 Holdings

  1. US BANK MMDA - USBGFS 9 93.82%
  2. SUGAR #11 (WORLD) Jul24 0.36%
  3. CORN FUTURE Dec24 -1.62%
  4. SOYBEAN FUTURE Nov24 -1.70%
  5. WHEAT FUTURE(CBT) Jul24 -1.99%

Asset Allocation

Weighting Return Low Return High TILL % Rank
Cash 		104.95% -81.87% 100.00% N/A
Stocks 		0.00% 0.00% 92.26% N/A
Preferred Stocks 		0.00% 0.00% 0.00% N/A
Convertible Bonds 		0.00% 0.00% 3.89% N/A
Bonds 		0.00% 0.00% 96.71% N/A
Other 		-4.95% -47.59% 165.73% N/A

TILL - Expenses

Operational Fees

TILL Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 1.63% 0.10% 3.08% 13.12%
Management Fee 1.49% 0.00% 1.75% 96.05%
12b-1 Fee N/A 0.00% 1.00% 6.85%
Administrative Fee N/A 0.02% 0.45% N/A

Sales Fees

TILL Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A 4.50% 5.75% N/A
Deferred Load N/A 1.00% 4.00% N/A

Trading Fees

TILL Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee N/A N/A N/A N/A

Related Fees

Turnover provides investors a proxy for the trading fees incurred by mutual fund managers who frequently adjust position allocations. Higher turnover means higher trading fees.

TILL Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover N/A 0.00% 460.74% N/A

TILL - Distributions

Dividend Yield Analysis

TILL Category Low Category High TILL % Rank
Dividend Yield 53.19% 0.00% 44.18% 58.33%

Dividend Distribution Analysis

TILL Category Low Category High Category Mod
Dividend Distribution Frequency Annual Annually Monthly Annually

Net Income Ratio Analysis

TILL Category Low Category High TILL % Rank
Net Income Ratio N/A -55.71% 52.26% N/A

Capital Gain Distribution Analysis

TILL Category Low Category High Capital Mode
Capital Gain Distribution Frequency Annually Annually Annually

Distributions History

View More +

TILL - Fund Manager Analysis

Managers

Springer Harris

Start Date

Tenure

Tenure Rank

May 16, 2022

0.04

0.0%

Mr. Harris joined Teucrium Investment Advisors, LLC in April 2011. He has primary responsibilities for the Trade Operations for the Teucrium Funds. Prior to 2011, Mr. Harris was an Account Executive with Emergent Social Media Team at Weber Shandwick, a global public relations firm. He graduated cum laude with a B.A. in Business Management.

Steve Kahler

Start Date

Tenure

Tenure Rank

May 16, 2022

0.04

0.0%

Mr. Kahler joined Teucrium Investment Advisors, LLC in November 2011. He is responsible for overseeing all trading and investment decisions for the Teucrium Funds. From April 2006 until November 2011, Mr. Kahler worked for Cargill Inc., an international producer and marketer of food, agricultural, financial and industrial products and services, in the Energy Division as Senior Petroleum Trader. Mr. Kahler graduated from the University of Minnesota with a Bachelors of Agricultural Business Administration.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.33 17.03 5.81 11.51

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