Year ended

December 31, 2023

December 31, 2022

December 31, 2021

Per Share Operation Performance

Net asset value at beginning of period

$

28.50

$

22.77

$

19.49

Income (loss) from investment operations:

Investment income

1.37

0.45

0.04

Net realized and unrealized (loss) gain on commodity futures contracts

(2.00

)

5.76

3.67

Total expenses, net

(0.84

)

(0.48

)

(0.43

)

Net (decrease) increase in net asset value

(1.47

)

5.73

3.28

Net asset value at end of period

$

27.03

$

28.50

$

22.77

Total Return

(5.17

)%

25.17

%

16.82

%

Ratios to Average Net Assets (Annualized)

Total expenses

3.05

%

1.92

%

2.76

%

Total expenses, net

3.05

%

1.78

%

1.96

%

Net investment loss

1.93

%

(0.10

)%

(1.79

)%