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Investments (Tables)

6 Months Ended

Dec. 31, 2024

Investments [Abstract]

Schedule of Average Derivative Volume

Average Derivative Volume, for the six months ended December 31, 2024

Fund		Monthly Average Quantity				Monthly Average Notional Value
Breakwave Dry Bulk Shipping ETF			822			$	11,141,521
Breakwave Tanker Shipping ETF			63			$	894,451
Amplify Commodity Trust (combined)			885			$	12,035,972

Average Derivative Volume, for the period ended June 30, 2024

Fund		Monthly Average Quantity				Monthly Average Notional Value
Breakwave Dry Bulk Shipping ETF			782			$	15,359,875
Breakwave Tanker Shipping ETF			117			$	1,543,866
Amplify Commodity Trust (combined)			898			$	16,903,741

Schedule of Fair Value of Derivative Instruments

Fair Value of Derivative Instruments, as of December 31, 2024

Asset Derivatives

Liability Derivatives

Derivatives

Combined Statements of Assets and Liabilities

Fair Value

Combined Statements of Assets and Liabilities

Fair Value

Total(a)

Dry Bulk Index Rates Market Risk

Unrealized appreciation on futures contracts

$

992,720

Unrealized depreciation on futures contracts

$

3,295,155

$

2,302,435

(a) Represents cumulative depreciation of futures contracts as reported in the Combined Statements of Assets and Liabilities.

Fair Value of Derivative Instruments, as of June 30, 2024

Asset Derivatives

Liability Derivatives

Derivatives

Combined Statements of Assets and Liabilities

Fair Value

Combined Statements of Assets and Liabilities

Fair Value

Total(a)

Dry Bulk Index Rates Market Risk

Receivable on open futures contracts and unrealized appreciation on futures contracts

$

328,945

Payable on open futures contracts and Unrealized depreciation on futures contracts

$

1,117,620

$

788,675

(a) Represents cumulative depreciation of futures contracts as reported in the Combined Statements of Assets and Liabilities.

Fair Value of Derivative Instruments, as of December 31, 2024

Asset Derivatives

Liability Derivatives

Derivatives

Combined Statements  of Assets and Liabilities

Fair Value

Combined Statements of Assets and Liabilities

Fair Value

Total(a)

Crude Oil Tanker Index Rates Market Risk

Unrealized appreciation on futures contracts

$

-

Unrealized depreciation on futures contracts

$

184,850

$

184,850

(a) Represents cumulative depreciation of futures contracts as reported in the Combined Statements of Assets and Liabilities.

Fair Value of Derivative Instruments, as of June 30, 2024

Asset Derivatives

Liability Derivatives

Derivatives

Combined Statements  of Assets and Liabilities

Fair Value

Combined Statements of Assets and Liabilities

Fair Value

Total(a)

Crude Oil Tanker Index Rates Market Risk

Unrealized appreciation on futures contracts

$

-

Unrealized depreciation on futures contracts

$

115,880

$

115,880

(a) Represents cumulative depreciation of futures contracts as reported in the Combined Statements of Assets and Liabilities.

Schedule of Effect of Derivative Instruments on the Combined Statements of Operations

For the Three Months Ended December 31, 2024

Derivatives		Location of Gain (Loss) on Derivatives		Realized Loss on Derivatives Recognized in Income				Change in Unrealized Gain (Loss) on Derivatives Recognized in Income
Dry Bulk Index Rates Market Risk		Net realized loss on futures contracts and/or change in unrealized gain (loss) on futures contracts		$	(9,194,227	)		$	(2,196,210	)

For the Three Months Ended December 31, 2023

Derivatives		Location of Gain (Loss) on Derivatives		Realized Gain on Derivatives Recognized in Income				Change in Unrealized Gain (Loss) on Derivatives Recognized in Income
Dry Bulk Index Rates Market Risk		Net realized gain on futures contracts and/or change in unrealized gain (loss) on investments and futures contracts		$	27,728,859			$	17,188,035

For the Six Months Ended December 31, 2024

Derivatives		Location of Gain (Loss) on Derivatives		Realized Loss on Derivatives Recognized in Income				Change in Unrealized Gain (Loss) on Derivatives Recognized in Income
Dry Bulk Index Rates Market Risk		Net realized loss on futures contracts and/or change in unrealized gain (loss) on futures contracts		$	(14,038,246	)		$	(1,513,760	)

For the Six Months Ended December 31, 2023

Derivatives		Location of Gain (Loss) on Derivatives		Realized Gain on Derivatives Recognized in Income				Change in Unrealized Gain (Loss) on Derivatives Recognized in Income
Dry Bulk Index Rates Market Risk		Net realized gain on futures contracts and/or change in unrealized gain (loss) on investments and futures contracts		$	9,477,594			$	36,924,759

For the Three Months Ended December 31, 2024

Derivatives		Location of Gain (Loss) on Derivatives		Realized Loss on Derivatives Recognized in Income				Change in Unrealized Gain (Loss) on Derivatives Recognized in  Income
Crude Oil Tanker Index Rates Market Risk		Net realized loss on futures contracts and/or change in unrealized gain (loss) on futures contracts		$	(728,787	)		$	(34,492	)

For the Three Months Ended December 31, 2023

Derivatives		Location of Gain (Loss) on Derivatives		Realized Gain on Derivatives Recognized in Income				Change in Unrealized Gain (Loss) on Derivatives Recognized in Income
Crude Oil Tanker Index Rates Market Risk		Net realized gain on futures contracts and/or change in unrealized gain (loss) on investments and futures contracts		$	96,553			$	(12,008	)

For the Six Months Ended December 31, 2024

Derivatives		Location of Gain (Loss) on Derivatives		Realized Loss on Derivatives Recognized in Income				Change in Unrealized Gain (Loss) on Derivatives Recognized in  Income
Crude Oil Tanker Index Rates Market Risk		Net realized loss on futures contracts and/or change in unrealized gain (loss) on futures contracts		$	(1,021,428	)		$	(68,970	)

For the Six Months Ended December 31, 2023

Derivatives		Location of Gain (Loss) on Derivatives		Realized Gain on Derivatives Recognized in Income				Change in Unrealized Gain (Loss) on Derivatives Recognized in Income
Crude Oil Tanker Index Rates Market Risk		Net realized gain on futures contracts and/or change in unrealized gain (loss) on investments and futures contracts		$	130,178			$	(908,697	)

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Tabular disclosure of average derivative volume.

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Tabular disclosure of the effective portion of the gains and losses on derivative instruments designated (and non-derivative instruments) designated and qualifying in cash flow hedges and net investment hedges that was recognized in other comprehensive income (loss) during the current period.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 815
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 4C
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480434/815-10-50-4C

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Tabular disclosure of the location and fair value amounts of derivative instruments (and nonderivative instruments that are designated and qualify as hedging instruments) reported in the statement of financial position.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 4B
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480434/815-10-50-4B

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