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Overview

Performance

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 02/03/2023
Daily Net Asset Value (NAV) and Market Price
NAV $28.14
NAV Daily Change -2.76%
Market Price $28.09
Market Price Daily Change -2.80%
30 Day Median Bid/Ask Spread
0.67%
Distributions

Performance History

Cumulative %
Data as of: 01/31/2023
Fund NAV Closing Price Index
1 Month 6.64% 6.50% 7.08%
3 Month 21.92% 21.96% 22.87%
6 Month
Since Inception 17.63% 18.11% 18.34%
Cumulative %
Data as of quarter end: 12/31/2022
Fund NAV Closing Price Index
Since Inception 10.30% 10.90% 10.52%

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.

Growth of $10,000

Data as of 02/03/2023

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 02/03/2023
Name Identifier Position Current Exposure($) % NAV
Copper 2023 Future HGH3 Comdty 55 5,577,688 24.77%
Nickel 2023 Future LNH3 Comdty 32 5,474,496 24.32%
Aluminum 2023 Future LAH23 Comdty 69 4,396,163 19.53%
Zinc 2023 Future LXH3 Comdty 43 3,492,406 15.51%
Cobalt 2023 Future CVTH3 Comdty 54 2,023,841 8.99%
Lithium 2023 Future LFAH3 Comdty 14 1,081,500 4.8%
ALUMINUM FUTURES MAR23 ALEH3 Comdty 6 384,938 1.71%
22,431,031 100%

Collateral and Currency Management

Data as of 02/03/2023
Name Identifier Position Current Exposure($) % NAV
STATE ST INST US GOV GVMXX 12,027,376 12,027,376 53.42%
USD Cash & Equivalents** USD 10,486,024 10,486,024 46.58%
22,513,400 100%

Holdings, futures, and collateral are subject to change.
**Includes USD cash deposits & cash in margin accounts ($10,486,024)

Top 10 Holdings

Data as of 02/03/2023 Full Holdings .CSV
Rank Name % of Net Assets Ticker Identifier Type Shares Held Market Value($) Notional Value($)
1 STATE ST INST US GOV 53.42% GVMXX Money Market 12,027,376 12,027,376 0
2 Cash 46.58% Cash 10,486,024 10,486,024 0
3 ALUMINUM FUTURES MAR23 0.00% ALEH3 Future 6 0 384,938
4 COBALT FASTMARKET MAR23 0.00% CVTH3 Future 54 0 2,023,841
5 COPPER FUTURE MAR23 0.00% HGH3 Future 55 0 5,577,688
6 LITHIUM LIOH COME MAR23 0.00% LFAH3 Future 14 0 1,081,500
7 LME NICKEL FUTURE MAR23 0.00% LNH3 Future 32 0 5,474,496
8 LME PRI ALUM FUTR MAR23 0.00% LAH23 Future 69 0 4,396,163
9 LME ZINC FUTURE MAR23 0.00% LXH3 Future 43 0 3,492,406

Holdings are subject to change.