KMLM is benchmarked to the KFA MLM Index, which consists of a portfolio of twenty-two liquid futures contracts traded on U.S. and foreign exchanges. The Index includes futures contracts on 11 commodities, 6 currencies, and 5 global bond markets. These three baskets are weighted by their relative historical volatility, and within each basket, the constituent markets are equal dollar weighted.
Mount Lucas Management, the sub-advisor of KMLM, is a Newtown, PA based asset manager founded in 1986. Since its founding, Mount Lucas has provided innovative alternative investment strategies to institutional and high-net-worth investors that enhance and diversify traditional investments. Mount Lucas’ investment professionals have extensive experience in the development and use of systematic investment strategies that access alternative risk premia as well as a long history of discretionary macro trading and risk taking.
1. Buying and selling shares of the KFA Funds may result in brokerage commissions.
2. Diversification does not ensure a profit or guarantee against a loss.
3. Data from Mount Lucas Management.
|Net Asset Value||$30.13|
|30 Day Median Bid/Ask Spread|
The ETF’s 30 Day Median Bid-Ask Spread is calculated by identifying the ETF’s national best bid and national best offer ("NBBO") as of the end of each 10 second interval during each trading day of the last 30 calendar days and dividing the difference between each such bid and offer by the midpoint of the NBBO. The median of those values is identified and that value is expressed as a percentage rounded to the nearest hundredth.
Cumulative %Data as of: 09/30/2021
|Fund NAV||Closing Price||Index|
Cumulative % Data as of quarter end: 09/30/2021
|Fund NAV||Closing Price||Index|
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.
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 $10,000 investment in the fund is hypothetical and for illustration purposes only.
|COPPER FUTURE DEC21||HGZ1||Long||7.8%|
|GASOLINE RBOB FUT DEC21||XBZ1||Long||7.66%|
|WTI CRUDE FUTURE DEC21||CLZ1||Long||7.46%|
|NY HARB ULSD FUT DEC21||HOZ1||Long||7.44%|
|GOLD 100 OZ FUTR DEC21||GCZ1||Short||6.94%|
|WHEAT FUTURE(CBT) DEC21||W Z1||Long||6.77%|
|CORN FUTURE DEC21||C Z1||Long||6.64%|
|LIVE CATTLE FUTR DEC21||LCZ1||Short||6.28%|
|SUGAR #11 (WORLD) MAR22||SBH2||Long||6.25%|
|NATURAL GAS FUTR DEC21||NGZ21||Long||5.97%|
|SOYBEAN FUTURE NOV21||S X1||Short||1.48%|
|AUDUSD CRNCY FUT DEC21||ADZ1||Short||16.48%|
|CHF CURRENCY FUT DEC21||SFZ1||Short||16.37%|
|EURO FX CURR FUT DEC21||ECZ1||Short||16.26%|
|JPN YEN CURR FUT DEC21||JYZ1||Short||15.51%|
|BP CURRENCY FUT DEC21||BPZ1||Short||11.71%|
|C$ CURRENCY FUT DEC21||CDZ1||Long||2.44%|
|LONG GILT FUTURE DEC21||G Z1||Short||25.29%|
|US 10YR NOTE (CBT)DEC21||TYZ1||Short||22.45%|
|EURO-BUND FUTURE DEC21||RXZ1||Short||20.12%|
|CAN 10YR BOND FUT DEC21||CNZ1||Short||15.91%|
|JPN 10Y BOND(OSE) DEC21||JBZ1||Short||3.99%|
|Name||Identifier||Position||Current Exposure($)||% NAV|
|BRITISH STERLING POUND||–||193,608||267,024||0.81%|
Holdings, futures, and collateral are subject to change.
|Rank||Name||% of Net Assets||Ticker||Identifier||Type||Shares Held||Market Value($)||Notional Value($)|
|1||SCHWAB SHORT-TER||68.88%||SCHO||US8085248628||Mutual Fund||447,000||22,828,290||0|
|3||BRITISH STERLING POUND||0.81%||–||–||Currency||193,608||267,024||0|
|6||WTI CRUDE FUTURE DEC21||0.00%||CLZ1||–||Future||30||0||2,473,200|
|7||WHEAT FUTURE(CBT) DEC21||0.00%||W Z1||–||Future||61||0||2,244,800|
|8||US 10YR NOTE (CBT)DEC21||0.00%||TYZ1||–||Future||-57||0||-7,442,063|
|9||SUGAR #11 (WORLD) MAR22||0.00%||SBH2||–||Future||98||0||2,071,171|
|10||SOYBEAN FUTURE NOV21||0.00%||S X1||–||Future||-8||0||-491,200|
Holdings are subject to change.
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