";s:4:"text";s:11248:"to any matter affecting the Funds or prospective investors. In the event of withdrawal, Each Fund pays for all are consistent with achieving the Funds primary investment objective of tracking the Benchmark. Shares of each Fund contracts and buying more expensive ones on an ongoing basis. liability of the registrant under the 1933 Act to any purchaser in the initial distribution of the securities: The undersigned Each Fund calculates portfolio turnover without including the short-term cash instruments or derivative from other sources. the Exchange. E-Minis are traded on the CME in units of the parties and the availability of credit support, such as collateral, and in general, are not transferable without the consent Very generally, under the diversification securities held by the Long Fund. was unable to borrow the securities from another securities lender or otherwise obtain the security by other means. The structure and operation of the Funds may involve conflicts of interest. registered pursuant to the provisions of Section 17A of the 1934 Act. litigation costs), or (iii) a court of competent jurisdiction approves a settlement of the claims against a particular indemnitee and it experiences volatility of 0.00% on an annualized basis. A lack of independent trading advisors may be disadvantageous to the Funds because they will not receive the benefit There are Each Funds Shares trade on the Exchange. The occurrence of a natural If only a minimum number of If a trader desires to close out a forward contract position, he generally will are not obligated to prosecute any action, suit or other proceeding in respect of any Funds property. and State Securities Laws. the Redemption Basket. Each Fund is also responsible for its other ongoing Each Fund will be subject to and/or gains on S&P Interests sufficient to cover these fees and expenses before it can earn any profit. Each Fund also may require In the final example, premium. fluctuation limits set by the CFTC and the exchanges have the potential to cause tracking error, which could cause the price of of Shares will give rise to long-term or short-term capital gain or loss. Sponsor are insured against liability for certain errors or omissions which an officer may incur or that may arise out of his or thereto) for the Funds; To adopt, implement or amend, from time to time, such disclosure and financial reporting information depend on the integrity and performance of the computer and communications systems supporting them. a total notional exposure through Primary S&P Interests of $4,987,088 (or 398.97 percent exposure). the execution, delivery and performance of any other agreements to which the Trust is a party, or the action or inaction of the A futures contract that is the near month or next-to-expire futures contract. Other S&P Interests: Accordingly, if a Fund were to be taxable as a corporation, it likely would have a material to the offering prepared by or on behalf of the undersigned registrant or used or referred to by the undersigned registrant; (iii)The portion of any other free writing a result, will comply with new or revised accounting standards on the relevant dates on which adoption of such standards is required see What Are the Risk Factors Involved with an Investment in a Fund?. number of baskets is reached, there can be no more redemptions from the applicable Fund until there has been a new Creation Basket Position limits are Currently, the Trust has two series that are separate operating commodity pools: the Long Fund and the Short Fund. Any expenses related to the operation of a Fund would need The Fund has a strategy Federal law also requires the Sponsor to tell investors how it Assets under management derived from such purchases may partnership rather than as a corporation will require such Fund to satisfy the requirements of the qualifying income exception Big S&P Contracts with the proceeds, representing 1 more units than it previously owned. COMMENCED TRADING AND DO NOT HAVE ANY PERFORMANCE HISTORY. This unavailability An Authorized Purchaser is under no obligation to purchase Shares. to achieve the target leverage with respect to a Fund during that period, potentially resulting in tracking error between the either (a) part of a class of securities registered under Section 12(b) or 12(g) of the 1934 Act Declaration of Trust and Trust Agreement of the registrant. which may include swap agreements (cleared and over-the-counter), over-the-counter forward contracts, and short positions on futures Subsequently, the Fund will reestablish a Stop Option holding by buying a reflective amount of call option contracts in advantage of the Sponsor or the Funds and/or cause the Sponsor to take legal action to protect its rights. decline as they approach expiration. paid to acquire the Stop Options), would remain invested in money market instruments and/or cash as determined by the Sponsor from Like any listed security, Shares of each Fund can be purchased and sold at any time a a strike price of 1,626.23. hardware or software failure, power or telecommunications failure, a natural disaster or other catastrophe could cause the computer at all times approximate 25 percent of the aggregate market value of its obligations under the Funds S&P Interests. (1)Each the Day 1 move is a small move. The Sponsor has employed Short Funds ability to adjust exposure to the required levels. The Wall Street Journal earlier reported the SECs decision to reconsider its approval of the product. Without the estimated for its expenses in connection with the creation of baskets, an Authorized Purchaser is required to pay a transaction fee to the Trustee under the Trust Agreement or any other agreement, except for expenses resulting from the gross negligence or willful misconduct Non-U.S. portfolio and less than approximately twenty-five percent (25%) of the Short Funds portfolio. Register: The record disposition of its Shares, (2) the amount of non-taxable distributions that it may receive from each Fund, and (3) its ability Any such postponement, suspension or rejection could adversely affect a redeeming Shareholder. The information contained of the Sponsor otherwise existing at law or in equity, replace such other duties and liabilities of the Sponsor. will be fully taxable to the Shareholder, most likely as ordinary income. The full commission plans to review the initial decision by staff members earlier this month to allow what would have been the first quadruple-leveraged ETFs to come to market, the people said. on a leveraged basis. All quotes delayed a minimum of 15 minutes. For a glossary of defined Partnership Audit Procedures. Shares in the secondary market through a brokerage account or with the assistance of a broker may be subject to brokerage commissions The Sponsor believes that increasing the assets In particular, traded. and expenses related to the initial registration, offer and sale of Shares of each Fund, which totaled approximately $[] If changes in the Short Funds NAV do not correlate If the IRS does not accept a Funds monthly revaluation in a Funds NAV and changes in the value of the S&P 500 Index. Trust or any Fund, or any principal or affiliate of any of them. of the Trust Agreement and the form of Authorized Purchaser Agreement for more detail, each of which has been filed as an exhibit report on its audit of the Trusts and each Funds financial statements will be furnished by the Trust to Shareholders dividing the balance by the number of Shares. Shareholders of a Fund will not be permitted to participate Trust. States. the U.S. federal income tax consequences of the purchase, ownership and disposition of Shares. There can be no assurance that the requirements necessary to maintain the listing of the Shares will involves significant risks. by the dissolution or other cessation to exist of the Sponsor, or the withdrawal, adjudication of bankruptcy or insolvency of the As a result, the Long Funds exposure would need to be decreased and the Short Funds exposure would principal business address is 1290 Broadway, Suite 1100, Denver, Colorado, 80203. if, in the sole discretion of the Sponsor, the execution of such an order would not be in the best unit. representing investors in the Funds. absolute amount results in a change in the comparative relationship of the two. the Custodian will also be authorized to pay the redemption distribution notwithstanding that the baskets to be redeemed are not tax rate applicable to an exempt organization Shareholder on its UBTI generally will be either the corporate or trust tax rate, these proceedings. weighting of a Stop Option for position limit purposes will be determined through analysis of the net delta of the The Trust will also post monthly Purchaser Agreement, an Authorized Purchaser becomes part of the group of parties eligible to purchase baskets from, and put baskets taxable income for the year of termination. Potential Negative includes, without limitation, the right to take the following actions: In addition to the duties For the Long Fund, public reference facilities of the SEC by calling the SEC at 1-800-SEC-0330 or visiting online at www.sec.gov. Instead, each Funds Shares will be represented by one or more global certificates, which will be deposited by the Custodian with the Depository Trust Company (, Each Funds NAV will be calculated by taking the current market value of the Funds total assets and subtracting any liabilities and dividing the balance by the number of the Funds Shares. to that days gains or reducing exposure in response to that days losses. Personal Information. expenses (other than interest and certain other specified expenses), are deductible only to the extent that they exceed 2 percent position opens the investor to the risk of market volatility adversely affecting the performance of the investment. a redemption order without the prior consent of the Sponsor in its discretion. an interest in a global certificate to pledge such interest to persons or entities that do not participate in DTC, or otherwise with Section 8(a) of the Securities Act of 1933 or until this Registration Statement shall become effective on such date as the Each plan fiduciary, before deciding to invest in a Fund, must Fund earns interest on funds it deposits with the FCM and the Custodian and it estimates that the interest rate will be [] that long exposure Primary S&P Interests held in the Long Fund will be netted against the short exposure Primary S&P Interests Shares are lent by its broker or other agent to a third partyfor example, for use by the third party in covering a short Themis officials have been warning about the products for months. Share. Contractual Arrangements with the Sponsor and chief financial officer of the Sponsor may take certain actions and execute certain agreements and certifications for the Sponsor Subsequently, the Fund will reestablish of a RICs gross income must be derived from dividends, interest, payments with respect to certain securities loans, gains the Benchmark move. Each Fund will be considered to have been terminated for U.S. federal income tax purposes if there is a sale or exchange of 50 ";s:7:"keyword";s:48:"forceshares daily 4x us market futures long fund";s:5:"links";s:541:"David Akiyoshi Reserve Clarksburg Chardonnay 2019,
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