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v3.20.1

Combined Statements of Changes in Net Assets (Unaudited) - USD ($) | 3 Months Ended | 9 Months Ended
--- | --- | ---
Mar. 31, 2020 | Mar. 31, 2019 | Mar. 31, 2020 | Mar. 31, 2019
SIT RISING RATE ETF |  |  |  |
Net Assets at Beginning of Period | $ 5,740,486 | $ 60,141,687 | $ 11,920,149 | $ 51,774,988
Increase (decrease) in Net Assets from share transactions |  |  |  |
Addition of shares |  |  |  | 24,297,005
Redemption of shares |  | (30,628,345) | (6,331,666) | (44,791,745)
Net Increase in Net Assets from share transactions |  | (30,628,345) | (6,331,666) | (20,494,740)
Increase (decrease) in Net Assets from operations |  |  |  |
Net investment income (loss) | 5,877 | 132,144 | 42,377 | 433,453
Net realized gain (loss) | (167,895) | (2,457,815) | (420,623) | (2,914,522)
Change in net unrealized gain (loss) | (444,797) | 1,778,789 | (76,566) | 167,281
Net Increase (decrease) in Net Assets from operations | (606,815) | (546,882) | (454,812) | (2,313,788)
Net Assets at End of Period | 5,133,671 | 28,966,460 | 5,133,671 | 28,966,460
BREAKWAVE DRY BULK SHIPPING ETF |  |  |  |
Net Assets at Beginning of Period | 2,306,781 | 2,784,757 | 4,308,262 | 3,297,789
Increase (decrease) in Net Assets from share transactions |  |  |  |
Addition of shares | 21,611,870 | 1,795,803 | 22,763,000 | 1,795,803
Redemption of shares | (695,550) |  | (4,817,327) |
Net Increase in Net Assets from share transactions | 20,916,320 | 1,795,803 | 17,945,673 | 1,795,803
Increase (decrease) in Net Assets from operations |  |  |  |
Net investment income (loss) | (106,004) | (18,218) | (141,624) | (63,431)
Net realized gain (loss) | (2,727,061) | (956,887) | (2,388,880) | (1,391,126)
Change in net unrealized gain (loss) | (1,871,170) | (511,380) | (1,204,565) | (544,960)
Net Increase (decrease) in Net Assets from operations | (4,704,235) | (1,486,485) | (3,735,069) | (1,999,517)
Net Assets at End of Period | 18,518,866 | 3,094,075 | 18,518,866 | 3,094,075
Net Assets at Beginning of Period | 8,047,267 | 62,926,444 | 16,228,411 | 55,072,777
Addition of shares | 21,611,870 | 1,795,803 | 22,763,000 | 26,092,808
Redemption of shares | (695,550) | (30,628,345) | (11,148,993) | (44,791,745)
Net Increase in Net Assets from share transactions | 20,916,320 | (28,832,542) | 11,614,007 | (18,698,937)
Net investment income (loss) | (100,127) | 113,926 | (99,247) | 370,022
Net realized gain (loss) | (2,894,956) | (3,414,702) | (2,809,503) | (4,305,648)
Change in net unrealized gain (loss) | (2,315,967) | 1,267,409 | (1,281,131) | (377,679)
Net Increase (decrease) in Net Assets from operations | (5,311,050) | (2,033,367) | (4,189,881) | (4,313,305)
Net Assets at End of Period | $ 23,652,537 | $ 32,060,535 | $ 23,652,537 | $ 32,060,535

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