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v3.20.1

Combined Statements of Assets and Liabilities - USD ($) | Mar. 31, 2020 | Jun. 30, 2019
--- | --- | ---
Assets |  |
Investment in securities, at fair value | $ 7,430,127 | $ 13,005,522
Interest receivable | 2,180 | 6,257
Segregated cash held by broker | 15,427,374 | 3,197,026
Receivable for Fund shares sold | 3,247,950 | 391,415
Total assets | 26,107,631 | 16,600,220
Liabilities |  |
Options written, at fair value | 18,867 | 19,336
Payable on open futures contracts | 2,376,354 | 326,457
Due to Sponsor | 45,727 | 21,550
Other liabilities | 14,146 | 4,466
Total liabilities | 2,455,094 | 371,809
Net Assets | 23,652,537 | 16,228,411
SIT RISING RATE ETF |  |
Assets |  |
Investment in securities, at fair value | 4,873,652 | 11,909,897
Interest receivable | 26 | 436
Segregated cash held by broker | 683,353 | 365,460
Receivable for Fund shares sold |  |
Total assets | 5,557,031 | 12,275,793
Liabilities |  |
Options written, at fair value | 18,867 | 19,336
Payable on open futures contracts | 400,059 | 326,457
Due to Sponsor | 4,434 | 9,851
Other liabilities |  |
Total liabilities | 423,360 | 355,644
Net Assets | $ 5,133,671 | $ 11,920,149
Shares outstanding (unlimited authorized) | 250,040 | 525,040
Net asset value per share | $ 20.53 | $ 22.7
Market value per share | $ 20.53 | $ 22.73
BREAKWAVE DRY BULK SHIPPING ETF |  |
Assets |  |
Investment in securities, at fair value | $ 2,556,475 | $ 1,095,625
Interest receivable | 2,154 | 5,821
Segregated cash held by broker | 14,744,021 | 2,831,566
Receivable for Fund shares sold | 3,247,950 | 391,415
Total assets | 20,550,600 | 4,324,427
Liabilities |  |
Options written, at fair value |  |
Payable on open futures contracts | 1,976,295 |
Due to Sponsor | 41,293 | 11,699
Other liabilities | 14,146 | 4,466
Total liabilities | 2,031,734 | 16,165
Net Assets | $ 18,518,866 | $ 4,308,262
Shares outstanding (unlimited authorized) | 2,850,040 | 325,040
Net asset value per share | $ 6.50 | $ 13.25
Market value per share | $ 6.39 | $ 13.15

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