v3.26.3
Combined Statements of Assets and Liabilities - USD ($)
Jun. 30, 2026
Jun. 30, 2025
Assets    
Investments in securities, at fair value $ 8,939,740 $ 45,304,689
Segregated cash held by broker [1] 43,281,306 23,064,200
Due from Sponsor   25,661
Unrealized appreciation on futures contracts 316,510  
Interest receivable 156,828 182,302
Total assets 52,694,384 68,576,852
Liabilities    
Due to Sponsor 74,296 136,622
Unrealized depreciation on futures contracts 4,753,614 922,393
Other accrued expenses 474,790 371,578
Payable for fund shares redeemed 2,271,473  
Total liabilities 7,574,173 1,430,593
Net Assets 45,120,211 67,146,259
Net Assets Consist Of:    
Paid-in Capital (58,825,273) 42,386,818
Total Distributable Earnings (Accumulated Deficit) 103,945,484 24,759,441
Net Assets 45,120,211 67,146,259
BREAKWAVE DRY BULK SHIPPING ETF    
Assets    
Investments in securities, at fair value 4,429,728 44,760,073
Segregated cash held by broker [1] 25,473,930 22,114,350
Due from Sponsor  
Unrealized appreciation on futures contracts 316,510  
Interest receivable 104,277 178,751
Total assets 30,324,445 67,053,174
Liabilities    
Due to Sponsor 39,213 136,622
Unrealized depreciation on futures contracts 861,490
Other accrued expenses 285,291 238,798
Payable for fund shares redeemed  
Total liabilities 324,504 1,236,910
Net Assets 29,999,941 65,816,264
Net Assets Consist Of:    
Paid-in Capital (35,328,032) 40,876,890
Total Distributable Earnings (Accumulated Deficit) 65,327,973 24,939,374
Net Assets $ 29,999,941 $ 65,816,264
Shares outstanding (unlimited authorized) 2,475,040 11,700,040
Net asset value per share (in Dollars per share) $ 12.12 $ 5.63
Market value per share (in Dollars per share) $ 11.87 $ 5.55
BREAKWAVE TANKER SHIPPING ETF    
Assets    
Investments in securities, at fair value $ 4,510,012 $ 544,616
Segregated cash held by broker [1] 17,807,376 949,850
Due from Sponsor   25,661
Unrealized appreciation on futures contracts  
Interest receivable 52,551 3,551
Total assets 22,369,939 1,523,678
Liabilities    
Due to Sponsor 35,083
Unrealized depreciation on futures contracts 4,753,614 60,903
Other accrued expenses 189,499 132,780
Payable for fund shares redeemed 2,271,473  
Total liabilities 7,249,669 193,683
Net Assets 15,120,270 1,329,995
Net Assets Consist Of:    
Paid-in Capital (23,497,241) 1,509,928
Total Distributable Earnings (Accumulated Deficit) 38,617,511 (179,933)
Net Assets $ 15,120,270 $ 1,329,995
Shares outstanding (unlimited authorized) 100,100 125,100
Net asset value per share (in Dollars per share) $ 151.05 $ 10.63
Market value per share (in Dollars per share) $ 148.38 $ 10.64
[1] Required margin held as collateral for open futures contracts