1. For transactions directly with the Fund, the Fund imposes transaction fees on Creation Units issued and redeemed to offset the estimated cost to the Fund of processing the transaction and converting the Basket to or from the desired portfolio composition.
2. Basis points (bps) are a unit of percentage measure. 1 basis point is equal to 0.01%.
3. A fixed fee of $150 will also be charged for each creation or redemption event. If the fund substitutes cash for basket instruments, it will impose higher transaction fees on the substituted cash amount.