The 30-day median bid/ask spread is the median percentage difference between the highest bid price and lowest ask price relative to the midpoint price over the past 30 trading days.
The Premium/Discount shows the difference between the daily market price of the Fund's shares and the Fund's net asset value ("NAV"). The table shows the premium or discount of the mid-point price as a percentage of the NAV as well as the number of trading days the Fund traded within the given premium/discount range.
NAV Return represents the closing price of the underlying securities.
Market Price Return is calculated using the price which investors buy and sell ETF shares in the market. The market returns in the table are based upon the midpoint of the bid/ask spread at 4:00 pm EST, and do not represent the returns you would have received if you traded shares at other times.
The Fund is a recently organized investment company with a limited operating history. As a result, prospective investors have a limited track record or history on which to base their investment decision.
THE PERFORMANCE DATA QUOTED REPRESENTS PAST PERFORMANCE, DOES NOT GUARANTEE FUTURE RESULTS AND CURRENT PERFORMANCE MAY BE LOWER OR HIGHER THAN THE DATA QUOTED. INVESTMENT RETURN AND PRINCIPAL VALUE WILL FLUCTUATE SO THAT THE INVESTOR’S SHARES, WHEN REDEEMED, MAY BE WORTH MORE OR LESS THAN THE ORIGINAL COST. TO OBTAIN PERFORMANCE AS CURRENT AS THE MOST RECENT MONTH END PLEASE DIAL THE APPROPRIATE NUMBER OR VISIT THE WEBSITE IN THE CONTACT US SECTION. PERFORMANCE IS INCLUSIVE OF DIVIDENDS.
An investor should consider the investment objectives, risks, charges, and expenses of the Fund carefully before investing. The prospectus and, if available, the summary prospectus contain this and other information about the Fund. You may obtain a prospectus and, if available, a summary prospectus by downloading the prospectus or calling 877-376-0082. Please read the prospectus or summary prospectus carefully before investing.
Important Disclosures and Risks
Crypto assets, such as BNB, operate without central authority or banks and are not backed by any government. Crypto assets are often referred to as a “virtual asset” or “digital asset,” and operate as a decentralized, peer-to-peer financial trading platform and value storage that is used like money. A crypto asset is also not a legal tender. Investments linked to BNB can be highly volatile compared to investments in traditional securities and the Funds may experience sudden and large losses.
The markets for BNB and BNB-related investments may become illiquid. These markets may fluctuate widely based on a variety of factors. An investor should be prepared to lose the full principal value of their investment suddenly and without warning. A number of factors affect the price and market for BNB such as new technology and supply and demand for BNB.
BNB and BNB-related investments are relatively new investments. The performance of BNB-related investments, and therefore the performance of the Fund, may differ significantly from the performance of BNB.
The use of leverage increases the risk of loss and volatility, and the Fund may not be suitable for all investors. It is intended for sophisticated investors who understand the effects of daily compounding and are able to actively monitor and manage their investments. Investors could lose the entire value of their investment within a single trading day. Leverage may amplify both gains and losses.
The Fund’s goal is not to achieve its stated objective over periods longer than a single day. Compounded daily rebalancing can lead to returns that differ from twice the price performance of BNB for the same period. The Fund will lose money if the price performance of BNB is flat over time, and the Fund can lose money regardless of the performance of BNB due to daily rebalancing, the volatility of the price of BNB, compounding of each day’s return, and other factors. There is no guarantee that the Fund will meet its stated objective.
Futures investing is highly speculative and involves a high degree of risk. An investor may lose all or substantially all of an investment in the Fund. Investing in commodity interests subjects the Fund to the risks of its related industry.
The Fund is classified as a “non-diversified” investment company under the 1940 Act and may invest a larger percentage of its assets in a single position or issuer than a diversified fund.
The Fund currently intends to effect creations and redemptions principally for cash, rather than principally in-kind because of the nature of the Fund's investments. As such, investments in the Fund may be less tax efficient than investments in ETFs that create and redeem in-kind.
The Fund is deemed a commodity pool and is therefore subject to regulation under the Commodity Exchange Act and the rules of the Commodity Futures Trading Commission (CFTC).
An investment in the Fund involves risk, including possible loss of principal. ETFs trade like stocks, are subject to investment risk, fluctuate in market value and may trade at prices above or below the ETF's net asset value (NAV), and are not individually redeemable directly with the ETF. Brokerage commissions and ETF expenses will reduce returns. ETFs are subject to specific risks, depending on the nature of the underlying strategy of the Fund. These risks could include Clearing Broker Risk, Collateral Securities Risk, Cybersecurity Risk, Early Close/Trading Halt Risk, Intra-Day Investment Risk, Market Risk, Reverse Repurchase Agreements Risk, Valuation Risk, Whipsaw Markets Risk, and BNB-Related Investments Tax Risk. For a complete description of the Fund’s principal investment risks, please refer to the prospectus.
Shares of the Fund are not FDIC insured, may lose value, and have no bank guarantee.
Shares are not individually redeemable directly with the Fund. Brokerage commissions and Fund expenses will reduce returns.
PINE Distributors LLC is the distributor for the 2x Long Daily BNB ETF. Teucrium Investment Advisors, LLC serves as the investment adviser. PINE Distributors LLC is not affiliated with Teucrium Investment Advisors, LLC.
Learn more about PINE Distributors LLC at FINRA’s BrokerCheck
TUCRM-5080170-12/25
