The Fund is an actively managed exchange-traded fund (ETF) that seeks to achieve its investment objective by investing in a range of commodity related derivative instruments, primarily futures contracts and other commodity linked derivative instruments (including but not limited to futures on commodities, commodity related securities or commodity indices and swaps on physical commodities), and structured notes. The Fund may also invest in foreign currency (e.g. forward currency contracts, currency options, and swaps on currencies), and cash or cash equivalents including certificates of deposit, treasury bills, and floating rate notes. The Funds investments in commodity futures contracts and other commodity linked instruments (collectively, Commodities Instruments) will be made through a wholly owned subsidiary of the Fund organized under the laws of the Cayman Islands (the Subsidiary). Through its investment in the Subsidiary, the Fund will seek exposure to a range of commodity sectors from time to time including, but not limited to, the energy, agriculture and metals sectors. The Fund may invest in any sector of the commodities markets throughout the world. The Fund may trade securities actively.