Note 3 - Trust Expenses

6 Months Ended

Jun. 30, 2018

Notes to Financial Statements

Trust Expenses [Text Block]

3

- Trust Expenses

The Trust 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.