v3.22.2.2
Net Asset Value and Financial Highlights
 12 Months Ended
Jun. 30, 2022
Net Asset Value and Financial Highlights [Abstract]  
Net Asset Value and Financial Highlights

(10) Net Asset Value and Financial Highlights

 

The Funds are presenting, as applicable, the following net asset value and financial highlights related to investment performance for a Share outstanding throughout the years ended June 30, 2022 and 2021, respectively. The net investment income and total expense ratios are calculated using average net assets. The net asset value presentation is calculated by dividing each Fund’s net assets by the average daily number of Shares outstanding. The net investment income (loss) and expense ratios have been annualized. The total return is based on the change in net asset value and market value of the Shares during the period. An individual investor’s return and ratios may vary based on the timing of their transactions in Fund Shares.

 

   BREAKWAVE DRY BULK
SHIPPING ETF		 
   For the Year Ended June 30, 
   2022   2021 
         
Net Asset Value        
Net asset value per Share, beginning of year  $28.88   $7.70 
Net investment income (loss)   (1.15)   (0.53)
Net realized and unrealized gain (loss)   (10.67)   21.71 
Net Income (Loss)   (11.82)   21.18 
Net Asset Value per Share, end of year  $17.06   $28.88 
Market Value per Share, end of year  $17.17   $29.35 
Ratios to Average Net Assets*          
Expense Ratio***   4.50%   4.12%
Expense Ratio*** before Waiver/Assumption   4.50%   4.21%
Net Investment Income (Loss)   (4.46%)   (4.11%)
Total Return, at Net Asset Value**   (40.93%)   275.06%
Total Return, at Market Value**   (41.50%)   297.16%

 

*Percentages are annualized.
**Percentages are not annualized.
***For Breakwave Dry Bulk Shipping ETF, Fund expenses have been capped at 3.50% of average daily net assets, plus brokerage commissions, interest expense, and extraordinary expenses, if any.