Note 3 - Trust Expenses

12 Months Ended

Dec. 31, 2017

Notes to Financial Statements

Trust Expenses [Text Block]

3

-

Trust Expenses

The Tru

st pays to the Sponsor a Sponsor’s fee that accrues daily at an annualized rate equal to

0.25%

of the net asset value of the Trust, paid monthly in arrears. The Sponsor has agreed to assume the following administrative and marketing expenses incurred by the Trust: the Trustee’s fee, the Custodian’s fee, NYSE Arca listing fees, SEC registration fees, printing and mailing costs, audit fees and expenses, and up to

$100,000

per annum in legal fees and expenses.