The following table presents per share performance data and other supplemental financial data for the three months ended March 31, 2014 and 2013 for the shareholders. This information has been derived from information presented in the condensed financial statements.

	For the three months ended March 31, 2014 (Unaudited)			For the three months ended March 31, 2013 (Unaudited)
Per Share Operating Performance:
Net asset value, beginning of period	$	43.81		$	40.98	*
Total income (loss)		(0.65)			0.76	*
Net expenses		(0.10)			(0.11)	*
Net increase (decrease) in net asset value		(0.75)			0.65	*
Net asset value, end of period	$	43.06		$	41.63	*

Total Return		(1.71)	%		1.60	%

Ratios to Average Net Assets
Total income (loss)		(1.37)	%		1.81	%
Management fees**		0.75	%		0.75	%
Total expenses excluding management fees**		0.70	%		0.39	%
Expenses waived**		(0.46)	%		(0.14)	%
Net expenses excluding management fees**		0.24	%		0.25	%
Net income (loss)		(1.62)	%		1.57	%

On August 26, 2013, BNO executed a 2-for-1 forward share split for all shareholders of record as of the close of markets on August 26, 2013. The 2-for-1 forward share split was payable after the close of markets on August 28, 2013. BNO began trading at its post split price on August 29, 2013. The Financial Highlights (Unaudited) have been adjusted for the periods shown to reflect the 2-for-1 forward share split on a retroactive basis.

Annualized.