Year ended

December 31, 2020

December 31, 2019

December 31, 2018

Total commissions accrued to brokers

$

548,601

$

101,742

$

98,880

Total commissions as annualized percentage of average total net assets

0.19

%

0.12

%

0.10

%

Commissions accrued as a result of rebalancing

$

527,095

$

99,885

$

95,188

Percentage of commissions accrued as a result of rebalancing

96.08

%

98.17

%

96.27

%

Commissions accrued as a result of creation and redemption activity

$

21,506

$

1,857

$

3,692

Percentage of commissions accrued as a result of creation and redemption activity

3.92

%

1.83

%

3.73

%