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Net Asset Value and Financial Highlights

3 Months Ended

Sep. 30, 2017

Net Asset Value And Financial Highlights [Abstract]

Net Asset Value and Financial Highlights

(10) Net Asset Value and Financial Highlights

The Fund is presenting the following net asset value and financial highlights related to investment performance for a Share outstanding throughout the Three Months Ended September 30, 2017 and September 30, 2016, respectively. The net investment income and total expense ratios are calculated using average net assets. The net asset value presentation is calculated by dividing the Fund’s net assets by the average daily number of Shares outstanding. The net investment income (loss) and expense ratios have been annualized. The total return is based on the change in net asset value and market value of the Shares during the period. An individual investor’s return and ratios may vary based on the timing of their transactions in Fund Shares.

	Three Months Ended			Three Months Ended
	September 30,			September 30,
	2017			2016
Net Asset Value
Net asset value per Share, beginning of period	$	23.15		$	22.33
Net investment income (loss)		(0.04	)		(0.08	)
Net realized and unrealized gain (loss)		0.01			0.31
Net Income (Loss)		(0.03	)		0.23
Net Asset Value per Share, end of period	$	23.12		$	22.56
Market Value per Share, end of period	$	23.03		$	22.52	(a)
Ratios to Average Net Assets*
Expense Ratio***		1.65	%		1.70	%
Expense Ratio*** before Waiver/Assumption		2.35	%		4.64	%
Net Investment Income (Loss)		(0.66	)%		(1.48	)%
Total Return, at Net Asset Value**		(0.13	)%		1.03	%
Total Return, at Market Value**		0.04	%		5.28	%

(a)

Represents the closing bid/ask mean as of September 30, 2016.

* Percentages are annualized.

** Percentages are not annualized.

*** As of February 19, 2015, Fund expenses have been capped at 1.50% of average daily net assets, plus brokerage commissions and interest expense, as disclosed in Note 4.