Note 5 - Financial Highlights

The following table presents per unit performance data and other supplemental financial data for the three months ended March 31, 2013 and 2012. This information has been derived from information presented in the financial statements.

Per Share Operation Performance for the three months ended March 31, 2013
Net asset value at beginning of period	$	11.56
Income (loss) from investment operations:
Investment income		-
Net realized and unrealized gain on commodity futures contracts		1.08
Total expenses		(0.04	)
Net increase in net asset value		1.04
Net asset value at end of period	$	12.60
Total Return		9.00	%
Ratios to Average Net Assets (Annualized)
Total expense		1.47	%
Net investment loss		(1.42	)%

Per Share Operation Performance for the three months ended March 31, 2012
Net asset value at beginning of period	$	13.81
Income from investment operations:
Investment income		-
Net realized and unrealized loss on commodity futures contracts		(2.75	)
Total expenses		(0.04	)
Net decrease in net asset value		(2.79	)
Net asset value at end of period	$	11.02
Total Return		(20.20	)%
Ratios to Average Net Assets
Total expense		1.57	%
Net investment loss		(1.51	)%

On July 29, 2011, the Sponsor filed a Form 8-K with the SEC which stated that effective August 1, 2011, the Sponsor has agreed to voluntarily cap the management fee and expenses of NAGS at 1.5% per annum of the daily net assets of the Fund. The cap may be terminated by the Sponsor at any time with 90 days' notice. This action by the Sponsor resulted in an approximate $3,800 reduction in expenses to the Fund for the three months ended March 31, 2012. The Sponsor waived, for some period the management fee for this Fund. The Sponsor elected to waive the management fee from January 1, 2012 through July 31, 2012; this action by the Sponsor resulted in an approximate $3,800 reduction in fees for the quarter ended March 31, 2012. Additional expenses of the Fund may be paid by the Sponsor in future periods. For the three months ended March 31, 2013, approximately $19,000 of expenses which were paid by the Sponsor that normally would have been paid by the Fund.

Total returns are calculated based on the change in value during the period. An individual shareholder's total return and ratio may vary from the above total returns and ratios based on the timing of contributions to and withdrawals from the Fund.

The financial highlights per share data are calculated using the average of the daily shares outstanding for the reporting period, which is inclusive of the last day of the period under report. The asset-based per share data in the financial highlights are calculated using the prior day's net assets consistent with the methodology used to calculate asset-based fees and expenses.