Note 6 – Financial Highlights

The following tables present per unit performance data and other supplemental financial data for the three months ended March 31, 2016 and 2015. This information has been derived from information presented in the financial statements and is presented with total expenses gross of expenses waived by the Sponsor and with total expenses net of expenses waived by the Sponsor, as appropriate.

	Three months ended			Three months ended
Per Share Operation Performance	March 31, 2016			March 31, 2015
Net asset value at beginning of period	$	21.24		$	26.62
Income from investment operations:
Investment income		0.03			-
Net realized and unrealized loss on commodity futures contracts		(0.80	)		(1.65	)
Total expenses		(0.28	)		(0.22	)
Net decrease in net asset value		(1.05	)		(1.87	)
Net asset value at end of period	$	20.19		$	24.75
Total Return		(4.94	)%		(7.02	)%
Ratios to Average Net Assets (Annualized)
Total expenses		5.32	%		3.44	%
Total expense, net		5.32	%		3.44	%
Net investment loss		(4.79	)%		(3.41	)%

Effective in the third quarter 2015, the financial highlights per share data are calculated consistent with the methodology used to calculate asset-based fees and expenses. In prior periods, 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. Any change in methodology was not material to the ratios presented.