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 02/20/2024
Daily Net Asset Value (NAV) and Market Price
NAV $12.58
NAV Daily Change -0.40%
Market Price $12.63
Market Price Daily Change 0.08%
30 Day Median Bid/Ask Spread
0.56%

Performance History

Cumulative %
Data as of: 01/31/2024
Fund NAV Closing Price Index
1 Month -3.06% -3.58% -2.44%
3 Month -4.05% -4.20% -3.25%
6 Month -15.53% -15.85% -14.66%
YTD -3.06% -3.58% -2.44%
Since Inception -18.57% -18.77% -15.35%
Avg Annualized %
Data as of month end: 01/31/2024
Fund NAV Closing Price Index
1 Year -30.77% -31.23% -28.47%
Since Inception -14.57% -14.74% -11.99%
Avg Annualized %
Data as of quarter end: 12/31/2023
Fund NAV Closing Price Index
1 Year -23.84% -24.04% -21.48%
Since Inception -13.32% -13.12% -10.98%

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

2024 Distributions and Calendar
Ex-Date Record Date Payable Date Amount
03/26/2024 03/27/2024 03/28/2024
06/26/2024 06/27/2024 06/28/2024
09/26/2024 09/27/2024 09/30/2024

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.

Distributions are issued to brokers on the payable date, and are subject to broker payment schedules.

2023 Distributions
Ex-Date Record Date Payable Date Amount
09/27/2023 09/28/2023 09/29/2023 0.000000
12/18/2023 12/19/2023 12/20/2023 7.481532
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 02/20/2024

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. Fund performance data used in this chart is based on Fund NAV and represents past performance. Past performance does not guarantee future results.

Electrification Metals Futures

Data as of 02/20/2024
Name Identifier Position Current Exposure($) % NAV
Copper 2024 Future HGK4 Comdty 8 775,100 30.8%
Nickel 2024 Future LNK4 Comdty 6 588,276 23.37%
Zinc 2024 Future LXK4 Comdty 6 356,663 14.17%
Aluminum 2024 Future LAK24 Comdty 5 273,955 10.88%
ALUMINUM FUTURES MAY24 ALEK4 Comdty 4 218,050 8.66%
Lithium 2024 Future LFAK4 Comdty 15 217,500 8.64%
Cobalt 2024 Future CVTK4 Comdty 4 125,399 4.98%
2,554,942 102%

Collateral and Currency Management

Data as of 02/20/2024
Name Identifier Position Current Exposure($) % NAV
STATE ST INST US GOV GVMXX 1,999,614 1,999,614 79.45%
USD Cash & Equivalents** USD 517,339 517,339 20.55%
2,516,953 100%

Holdings, futures, and collateral are subject to change.
**Includes USD cash deposits & cash in margin accounts ($517,339)

Top 10 Holdings

Data as of 02/20/2024 Full Holdings .CSV
Rank Name % of Net Assets Ticker Identifier Type Shares Held Market Value($) Notional Value($)
1 STATE ST INST US GOV 79.45% GVMXX Money Market 1,999,614 1,999,614 0
2 Cash 20.55% Cash 517,339 517,339 0
3 ALUMINUM FUTURES MAY24 0.00% ALEK4 Future 4 0 218,050
4 COBALT FASTMARKET MAY24 0.00% CVTK4 Future 4 0 125,399
5 COPPER FUTURE MAY24 0.00% HGK4 Future 8 0 775,100
6 LITHIUM LIOH COME MAY24 0.00% LFAK4 Future 15 0 217,500
7 LME NICKEL FUTURE MAY24 0.00% LNK4 Future 6 0 588,276
8 LME PRI ALUM FUTR MAY24 0.00% LAK24 Future 5 0 273,955
9 LME ZINC FUTURE MAY24 0.00% LXK4 Future 6 0 356,663

Holdings are subject to change.