Note 4 - Financial Highlights

The following table presents per unit performance data and other supplemental financial data for the year ended December 31, 2013 and for the period from commencement of operations (March 28, 2012) through December 31, 2012. This information has been derived from information presented in the financial statements.

				From the commencement
	Year ended			of operations (March 28, 2012)
	December 31, 2013			through December 31, 2012
Per Share Operation Performance
Net asset value at beginning of period	$	48.73		$	50.00
Income from investment operations:
Investment income		-			-
Net realized and unrealized loss on investment transactions		(10.58	)		(1.05	)
Total expenses		(0.22	)		(0.22	)
Net decrease in net asset value		(10.80	)		(1.27	)
Net asset value at end of period	$	37.93		$	48.73
Total Return		(22.16	)%		(2.54	)%
Ratios to Average Net Assets (Annualized)
Total expense		0.50	%		0.58	%
Net investment loss		(0.50	)%		(0.58	)%

Total returns are calculated based on the change in value during the period. An individual shareholder's total return and ratios may vary from the above total returns and ratios based on the timing of contributions to and withdrawals from the Fund. The ratios, excluding non-recurring expenses, have been annualized.

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.

The following table presents information about the sponsor fee and allocation of expenses for the years ended December 31, 2013 and from commencement of operations (March 28, 2012) through December 31, 2012.

			From commencement of
	Year ended		operations (March 28, 2013)
Expenses	December 31, 2013		through December 31, 2012
Expenses by the Fund	$	10,800	$	22,701
Expenses Paid by the Sponsor	$	55,200	$	20,800

For the year ended December 31, 2013, there is approximately $590,000 of expenses recorded on the financial statements of the Sponsor which is subject to reimbursement by the Funds in 2014. The Sponsor has not yet determined if it will seek such reimbursement and, as such, due to the uncertainty of this reimbursement, the financial statements of the Trust and the Funds do not reflect an adjustment for this amount.