Overview

Performance

Distributions

Growth of $10,000

Holdings

Fund Documents

Overview

Investment Strategy:

KMET tracks the Bloomberg Electrification Metals Index, composed of futures contracts on aluminum, copper, nickel, zinc, cobalt, and lithium. From Electric Vehicles (EVs) and batteries to renewable energy infrastructure, the metals exposures within KMET are experiencing strong demand from a range of electrification uses. We believe these metals' value will increase alongside accelerating global decarbonization efforts.

Electrification Metals Highlights:

  • More than $140 trillion of investment is needed for the clean energy transition over the next thirty years.1
  • To reach climate goals, a tripling of mineral demand is expected from the low-carbon power generation sector by 2040.2
  • Transitional commodities are expected to experience a demand and supply imbalance over the next decade.

KMET Features:

  • Provides a unique thematic exposure to transitional commodities and a hedge against climate change, inflation, and supply-side disruptions.
  • May be a beneficiary of increasing demand for electrification with the continued decarbonization of the global economy and strengthened climate policy.
  • Can provide potential portfolio diversification,3 as climate-aligned investments may act as a differentiated and non-correlated source of return that are not driven by the economic cycle.

1. International Renewable Energy Agency (IRENA). Forecast as of June of 2021. Data retrieved in May 31, 2022.
2. IEA, “The Role of Critical Minerals in Clean Energy Transitions”, May 2021.
3. Diversification does not ensure a profit or guarantee against a loss.

Premium Discount Chart

Daily Performance

Data as of 09/27/2023
Daily Net Asset Value (NAV) and Market Price
NAV $21.75
NAV Daily Change -0.14%
Market Price $21.78
Market Price Daily Change 0.18%
30 Day Median Bid/Ask Spread
0.44%

Performance History

Cumulative %
Data as of: 08/31/2023
Fund NAV Closing Price Index
1 Month -7.10% -7.47% -7.04%
3 Month -0.97% -1.63% 0.57%
6 Month -14.92% -15.34% -13.43%
YTD -18.81% -19.47% -16.57%
Since Inception -10.45% -10.69% -7.79%
Cumulative %
Data as of quarter end: 06/30/2023
Fund NAV Closing Price Index
Since Inception -8.09% -8.36% -5.98%

The performance data quoted represents past performance. Past performance does not guarantee future results. The investment return and principal value of an investment will fluctuate so that an investor's shares, when sold or redeemed, may be worth more or less than their original cost and current performance may be lower or higher than the performance quoted.

Distribution History

2023 Distributions
Ex-Date Record Date Payable Date Amount
09/27/2023 09/28/2023 09/29/2023 0.000000

Future calendar dates are subject to change. There is no guarantee that dividends will be paid. Past distributions are not indicative of future trends. This material is provided for educational purposes only and does not constitute investment advice.

2022 Distributions
Ex-Date Record Date Payable Date Amount
12/28/2022 12/29/2022 12/30/2022 0.034589

Growth of $10,000

Data as of 09/27/2023

The Growth of $10,000 chart reflects an initial investment of $10,000 on the day prior to the selected time period and assumes reinvestment of dividends and capital gains. For the growth of $10,000 chart since inception, the initial investment of $10,000 is instead made on the inception date of the Fund. Fund expenses, including management fees and other expenses were deducted. The growth of a $10,000 investment in the fund is hypothetical and for illustration purposes only.

Electrification Metals Futures

Data as of 09/27/2023
Name Identifier Position Current Exposure($) % NAV
Copper 2023 Future HGZ3 Comdty 12 1,090,950 25.08%
Nickel 2023 Future LNX3 Comdty 9 1,020,317 23.45%
Zinc 2023 Future LXX3 Comdty 12 740,550 17.02%
Aluminum 2023 Future LAX23 Comdty 9 501,356 11.52%
ALUMINUM FUTURES NOV23 ALEX3 Comdty 8 448,250 10.3%
Cobalt 2023 Future CVTX3 Comdty 11 401,109 9.22%
Lithium 2023 Future LFAX3 Comdty 4 112,600 2.59%
4,315,131 99%

Collateral and Currency Management

Data as of 09/27/2023
Name Identifier Position Current Exposure($) % NAV
STATE ST INST US GOV GVMXX 3,296,863 3,296,863 75.78%
USD Cash & Equivalents** USD 1,053,490 1,053,490 24.22%
4,350,352 100%

Holdings, futures, and collateral are subject to change.
**Includes USD cash deposits & cash in margin accounts ($1,053,490)

Top 10 Holdings

Data as of 09/27/2023 Full Holdings .CSV
Rank Name % of Net Assets Ticker Identifier Type Shares Held Market Value($) Notional Value($)
1 STATE ST INST US GOV 75.78% GVMXX Money Market 3,296,863 3,296,863 0
2 Cash 24.22% Cash 1,053,490 1,053,490 0
3 ALUMINUM FUTURES NOV23 0.00% ALEX3 Future 8 0 448,250
4 COBALT FASTMARKET NOV23 0.00% CVTX3 Future 11 0 401,109
5 COPPER FUTURE DEC23 0.00% HGZ3 Future 12 0 1,090,950
6 LITHIUM LIOH COME NOV23 0.00% LFAX3 Future 4 0 112,600
7 LME NICKEL FUTURE NOV23 0.00% LNX3 Future 9 0 1,020,317
8 LME PRI ALUM FUTR NOV23 0.00% LAX23 Future 9 0 501,356
9 LME ZINC FUTURE NOV23 0.00% LXX3 Future 12 0 740,550

Holdings are subject to change.