Strategy. The Index is provided by S&P Dow Jones Indices LLC (the Index Provider) and measures the performance of tradeable commodities considered to be breakfast foods (corn, coffee, lean hogs, sugar, Chicago wheat and orange juice) (breakfast commodities) by utilizing monthly futures contracts for such commodities. The Index is world production weighted and designed to reflect the relative significance of each of the commodities to the world economy, except for orange juice which is capped at 5%. The Index utilizes a rolling strategy that targets the largest roll yield to determine the next breakfast commodities futures contract month in which the Index will replace expiring futures contracts by measuring the current shape of the forward curves of breakfast commodity futures contract … Show more… The Index is provided by S&P Dow Jones Indices LLC (the Index Provider) and measures the performance of tradeable commodities considered to be breakfast foods (corn, coffee, lean hogs, sugar, Chicago wheat and orange juice) (breakfast commodities) by utilizing monthly futures contracts for such commodities. The Index is world production weighted and designed to reflect the relative significance of each of the commodities to the world economy, except for orange juice which is capped at 5%. The Index utilizes a rolling strategy that targets the largest roll yield to determine the next breakfast commodities futures contract month in which the Index will replace expiring futures contracts by measuring the current shape of the forward curves of breakfast commodity futures contract prices and using a systematic methodology to identify the contract months with the largest roll yield using the most liquid of all available contracts. The roll yield is the amount of return generated after the Fund rolls its futures contracts. Rolling a futures contract means selling a futures contract as it nears its expiration date and replacing it with a new futures contract that has a later expiration date. Futures contracts with a longer term to expiration may be priced higher than futures contracts with a shorter term to expiration, a relationship called contango. Conversely, futures contracts with a longer term to expiration may be priced lower than futures contracts with a shorter term to expiration, a relationship called backwardation. When the futures curve for various breakfast commodities is in a general state of contango, the Index will generally include futures contracts months that are further out on the futures curve, with the intention of minimizing the effects of negative roll yields. There may be times when the Fund will roll futures contracts that are in contango. In that case, the Fund will sell the expiring contract at a lower price and buy a longer-dated contract at a higher price, resulting in negative roll yield. When the futures curve for various breakfast commodities is in a general state of backwardation, the Index will generally include nearer-term futures contracts. At times the Fund may roll futures contracts that are in backwardation. When that occurs the Fund will sell the expiring contracts at a higher price and buy longer-dated contracts at a lower price, resulting in positive roll yield. The Fund will concentrate its investments to the same extent as the Index is so concentrated. As of December 31, 2022, the weighting of the Index constituents were: corn (41.71%), coffee (5.33%), lean hogs (12.78%), sugar (11.25%), Chicago wheat (24.08%) and orange juice (4.86%). The Index is rebalanced annually. The Fund generally will not invest directly in breakfast commodity futures contracts. The Fund expects to gain exposure to breakfast commodity futures contracts by investing up to 25% of its total assets in a wholly owned and controlled subsidiary (the Subsidiary). The Funds investment in the Subsidiary is expected to provide the Fund with exposure to commodity returns within the limits of the federal tax laws, which limit the ability of investment companies such as the Fund to invest directly in such instruments. Unlike the Fund, the Subsidiary may invest without limitation in commodity-linked derivatives and will invest principally in commodity futures and swap contracts, as well as certain short-term fixed-income investments intended to serve as margin or collateral for the Subsidiarys derivatives positions. The Funds holdings will generally consist of short-term fixed income investments while the Subsidiary will hold futures contracts and short-term fixed income investments. The Adviser will use its discretion to determine how much of the Funds total assets to invest in the Subsidiary, however, the Funds 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. The Subsidiary is wholly-owned and controlled by the Fund 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. The Subsidiary complies with the provisions related to affiliated transactions with custody. Except as noted, for purposes of this Prospectus, references to the Funds investment strategies and risks include those of its Subsidiary. The Fund uses a passive or indexing approach to attempt to achieve its investment objective. Although the Fund intends to fully replicate the Index, at times the Fund may hold a representative sample of the instruments in the Index that have aggregate characteristics similar to those of the Index. This means the Fund may not hold all of the instruments included in the Index, its weighting of investment exposure to such instruments or industries may be different from that of the Index and it may hold instruments that are not included in the Index. The Fund will rebalance its portfolio when the Index rebalances. 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 Funds investment objective is not a fundamental policy and may be changed by the Funds Board of Trustees without shareholder approval. Show less