I. | The first paragraph of page ii of the Prospectus is hereby deleted and replaced, in its
entirety, with the following: |
II. | All references to Page 10 in the second paragraph of page ii of the Prospectus are hereby
replaced with the words Page 11. |
III. | The last sentence in the first paragraph of page v of the Prospectus is hereby deleted and
replaced, in its entirety, with the following: |
IV. | The following additional sentence is hereby added to the end of the third paragraph of page
viii of the Prospectus: |
V. | The reference to the date September 30, 2010 in the paragraph immediately following the
heading Your investment could suffer in the event that Thomson Reuters America LLC decides to
terminate the License Agreement between itself and the Managing Owner. on page 3 of the
Prospectus is hereby replaced with the date October 1, 2011. |
VI. | The paragraph immediately following the heading An Absence of Backwardation in the Prices
of Certain Commodities, or the Presence of Contango in the Prices of Certain Commodities,
May Decrease the Price of Your Shares. on page 9 of the Prospectus is hereby deleted and
replaced, in its entirety, with the following: |
VII. | All references to the date December 31, 2008 in the last paragraph of page 9 of the
Prospectus are hereby replaced with the date December 31, 2009. |
VIII. | The Section of the Prospectus entitled BREAK-EVEN ANALYSIS beginning on page 11 of the
Prospectus is hereby deleted and replaced, in its entirety, with the following: |
Shares of the Fund(1) | Basket(2) | |||||||||||||||
Expense | $ | % | $ | % | ||||||||||||
Underwriting Discount(3) |
$ | 0.00 | 0 | % | $ | 0.00 | 0 | % | ||||||||
Management Fee(4) |
$ | 0.240 | 0.85 | % | $ | 11,989 | 0.85 | % | ||||||||
Organization and Offering Expense Reimbursement(5) |
$ | 0.00 | 0.00 | % | $ | 0.00 | 0.00 | % | ||||||||
Brokerage Commissions and Fees(6) |
$ | 0.067 | 0.24 | % | $ | 3,385 | 0.24 | % | ||||||||
Routine Operational, Administrative and Other Ordinary
Expenses(7)(8) |
$ | 0.00 | 0.00 | % | $ | 0.00 | 0.00 | % | ||||||||
Interest Income(9) |
$ | (0.039 | ) | -0.14 | % | $ | (1,975 | ) | -0.14 | % | ||||||
12-Month Breakeven (continuous Offering) |
$ | 0.268 | 0.95 | % | $ | 13,400 | 0.95 | % |
1. | The breakeven analysis set forth in this column assumes that the Shares have a constant
month-end net asset value and is based on $28.21 as the net asset value per share. See Fees
and Charges on page 35 for an explanation of the expenses included in the Breakeven Table. |
|
2. | The breakeven analysis set forth in this column assumes that Baskets have a constant
month-end net asset value and is based on $1,410,500 as the net asset value per Basket. See
Fees and Charges on page 35 for an explanation of the expenses included in the Breakeven
Table. |
2
3. | No upfront selling commissions are charged to Shares sold during the continuous offering
period, but it is expected that investors will be charged a customary commission by their
brokers in connection with purchases of Shares that will vary from investor to investor.
Investors are encouraged to review the terms of their brokerage accounts for details on
applicable charges. |
|
4. | From the Management Fee, the managing owner will be responsible for paying the fees and
expenses of any third party responsible for marketing and or distribution of the Fund,
including, but not limited to, the Distributor. |
|
5. | All organizational and offering costs incurred in connection with organizing the Index Fund
and the Master Fund and the offering of the Shares will be borne by GreenHaven LLC, a limited
liability company organized in the State of Georgia which is the sole member of the Managing
Owner. |
|
6. | The costs to the fund for brokerage commissions and trading fees will vary by the broker or
brokers involved to execute specific contracts for the funds interest. The managing owner
expects to pay rates that are commensurate with the going market rate for commissions and
brokerage. The costs to the fund will also be subject to the trading frequency of the fund. |
|
7. | Routine operational, administrative and other ordinary expenses are paid by the Managing
Owner and include, but are not limited to, annual audit, accounting, and fund administration
and other fund expenses that are fixed in amount and not charged as a percentage of net asset
value. |
|
8. | In connection with orders to create and redeem Baskets, Authorized Participants will pay a
transaction fee in the amount of $500 per order. Because these transactions fees are de minims
in amount, are charged on a transaction-by transaction basis (and not on a Basket-by-Basket
basis), and are borne by the Authorized Participants, they have not been included in the
Breakeven Table. |
|
9. | Interest income currently is estimated to be earned at a rate of 0.14%, based upon the
September 29, 2010 yield on 90 day Treasury Bills. |
|
10. | It is expected that interest income, as stated in footnote 9 above, will not exceed the fees
and costs incurred by the fund over a 12 month period. Therefore, the fund needs to generate
gains of at least 0.95% to break even in a 12 month period. |
|
11. | Investors may pay customary brokerage commissions in connection with purchases of Shares
during the continuous offering period. Because such brokerage commission rates will vary from
investor to investor, such brokerage commissions have not been included in the breakeven
table. Investors are encouraged to review the terms of their brokerage accounts for details on
applicable charges. |
IX. | The performance table beginning on page 12 of the Prospectus is hereby deleted and replaced,
in its entirety, with the following: |
3
Date | Month | NAV | Rate of Return | |||||||||||
1/23/2008 | Inception | $ | 30.00 | | ||||||||||
1/31/2008 | January | $ | 31.65 | 5.50 | % | |||||||||
2/29/2008 | February | $ | 35.41 | 11.88 | % | |||||||||
3/31/2008 | March | $ | 32.46 | -8.33 | % | |||||||||
4/30/2008 | April | $ | 33.49 | 3.17 | % | |||||||||
5/31/2008 | May | $ | 33.77 | 0.84 | % | |||||||||
6/30/2008 | June | $ | 36.83 | 9.06 | % | |||||||||
7/31/2008 | July | $ | 33.71 | -8.47 | % | |||||||||
8/31/2008 | August | $ | 31.65 | -6.11 | % | |||||||||
9/30/2008 | September | $ | 27.74 | -12.35 | % | |||||||||
10/31/2008 | October | $ | 22.68 | -18.24 | % | |||||||||
11/28/2008 | November | $ | 22.03 | -2.87 | % | |||||||||
12/31/2008 | December | $ | 21.92 | -0.50 | % | |||||||||
2008 | Total Performance | -26.93 | % |
Date | Month | NAV | Rate of Return | |||||||||||
1/30/2009 | January | $ | 21.80 | -0.55 | % | |||||||||
2/27/2009 | February | $ | 20.87 | -4.27 | % | |||||||||
3/31/2009 | March | $ | 21.73 | 4.12 | % | |||||||||
4/30/2009 | April | $ | 21.69 | -0.18 | % | |||||||||
5/29/2009 | May | $ | 24.21 | 11.62 | % | |||||||||
6/30/2009 | June | $ | 22.73 | -6.11 | % | |||||||||
7/31/2009 | July | $ | 23.44 | 3.12 | % | |||||||||
8/30/2009 | August | $ | 23.19 | -1.07 | % | |||||||||
9/30/2009 | September | $ | 23.89 | 3.02 | % | |||||||||
10/30/2009 | October | $ | 24.94 | 4.40 | % | |||||||||
11/30/2009 | November | $ | 26.09 | 4.61 | % | |||||||||
12/31/2009 | December | $ | 26.22 | 0.50 | % | |||||||||
2009 | Total Performance | 19.62 | % | |||||||||||
1/31/2010 | January | $ | 25.09 | -4.31 | % | |||||||||
2/28/2010 | February | $ | 25.67 | 2.31 | % | |||||||||
3/31/2010 | March | $ | 25.07 | -2.34 | % | |||||||||
4/30/2010 | April | $ | 25.76 | 2.75 | % | |||||||||
5/31/2010 | May | $ | 24.50 | -4.89 | % | |||||||||
6/30/2010 | June | $ | 24.92 | 1.71 | % | |||||||||
YTD Performance a/o 6/30/2010 | -4.958 | % |
4
X. | The index historical return table on page 17 of the Prospectus is hereby deleted and
replaced, in its entirety, with the following: |
29-Jan-82 | 101.34 | 31-Jan-91 | 151.18 | 31-Jan-00 | 182.49 | 31-Dec-09 | 323.9 | |||||||||||||||||||||||||
26-Feb-82 | 97.88 | 28-Feb-91 | 153.9 | 29-Feb-00 | 181.6 | 29-Jan-10 | 309.71 | |||||||||||||||||||||||||
31-Mar-82 | 95.25 | 28-Mar-91 | 154.35 | 31-Mar-00 | 186.68 | 26-Feb-10 | 316.72 | |||||||||||||||||||||||||
30-Apr-82 | 96.8 | 30-Apr-91 | 153.43 | 28-Apr-00 | 184.96 | 31-Mar-10 | 309.01 | |||||||||||||||||||||||||
28-May-82 | 93.93 | 31-May-91 | 152.96 | 31-May-00 | 195.03 | 30-Apr-10 | 317.08 | |||||||||||||||||||||||||
30-Jun-82 | 92.81 | 28-Jun-91 | 149.72 | 30-Jun-00 | 195.06 | 31-May-10 | 301.2 | |||||||||||||||||||||||||
30-Jul-82 | 93.17 | 31-Jul-91 | 154.8 | 31-Jul-00 | 192.53 | 30-Jun-10 | 305.95 | |||||||||||||||||||||||||
31-Aug-82 | 95.18 | 30-Aug-91 | 152.99 | 31-Aug-00 | 198.89 | |||||||||||||||||||||||||||
30-Sep-82 | 93.88 | 30-Sep-91 | 156.77 | 29-Sep-00 | 200.19 | |||||||||||||||||||||||||||
29-Oct-82 | 96.53 | 31-Oct-91 | 160.4 | 31-Oct-00 | 196.31 | |||||||||||||||||||||||||||
30-Nov-82 | 98.58 | 29-Nov-91 | 158.33 | 30-Nov-00 | 203.55 | |||||||||||||||||||||||||||
31-Dec-82 | 98.44 | 31-Dec-91 | 152.25 | 29-Dec-00 | 203.47 | |||||||||||||||||||||||||||
31-Jan-83 | 103.24 | 31-Jan-92 | 152.62 | 31-Jan-01 | 200.87 | |||||||||||||||||||||||||||
28-Feb-83 | 98.56 | 28-Feb-92 | 150.99 | 28-Feb-01 | 199.37 | |||||||||||||||||||||||||||
31-Mar-83 | 102.16 | 31-Mar-92 | 151.55 | 30-Mar-01 | 189.3 | |||||||||||||||||||||||||||
29-Apr-83 | 104.58 | 30-Apr-92 | 149.17 | 30-Apr-01 | 192.8 | |||||||||||||||||||||||||||
31-May-83 | 108.48 | 29-May-92 | 152.77 | 31-May-01 | 188.39 | |||||||||||||||||||||||||||
30-Jun-83 | 107.15 | 30-Jun-92 | 153.52 | 29-Jun-01 | 183.78 | |||||||||||||||||||||||||||
29-Jul-83 | 111.8 | 31-Jul-92 | 151.05 | 31-Jul-01 | 182.33 | |||||||||||||||||||||||||||
31-Aug-83 | 113.31 | 31-Aug-92 | 147.35 | 31-Aug-01 | 178.58 | |||||||||||||||||||||||||||
30-Sep-83 | 110.2 | 30-Sep-92 | 147.89 | 28-Sep-01 | 170.11 | |||||||||||||||||||||||||||
31-Oct-83 | 106.39 | 30-Oct-92 | 145.91 | 31-Oct-01 | 165.99 | |||||||||||||||||||||||||||
30-Nov-83 | 109.27 | 30-Nov-92 | 148.41 | 30-Nov-01 | 170.96 | |||||||||||||||||||||||||||
30-Dec-83 | 111.16 | 31-Dec-92 | 147.44 | 28-Dec-01 | 168.51 | |||||||||||||||||||||||||||
31-Jan-84 | 110 | 29-Jan-93 | 144.22 | 31-Jan-02 | 164.83 | |||||||||||||||||||||||||||
29-Feb-84 | 111.46 | 26-Feb-93 | 145.81 | 28-Feb-02 | 167.85 | |||||||||||||||||||||||||||
30-Mar-84 | 116.15 | 31-Mar-93 | 151.9 | 29-Mar-02 | 178.98 | |||||||||||||||||||||||||||
30-Apr-84 | 114.17 | 30-Apr-93 | 153.95 | 30-Apr-02 | 174.76 | |||||||||||||||||||||||||||
31-May-84 | 116.2 | 28-May-93 | 153.73 | 31-May-02 | 177.87 | |||||||||||||||||||||||||||
29-Jun-84 | 112.18 | 30-Jun-93 | 152.79 | 28-Jun-02 | 179.55 | |||||||||||||||||||||||||||
31-Jul-84 | 103 | 30-Jul-93 | 158.83 | 31-Jul-02 | 182.26 | |||||||||||||||||||||||||||
31-Aug-84 | 107.59 | 31-Aug-93 | 156.42 | 30-Aug-02 | 188.45 | |||||||||||||||||||||||||||
28-Sep-84 | 105.27 | 30-Sep-93 | 154.52 | 30-Sep-02 | 192.98 | |||||||||||||||||||||||||||
31-Oct-84 | 106.2 | 29-Oct-93 | 153.92 | 31-Oct-02 | 194.72 | |||||||||||||||||||||||||||
30-Nov-84 | 104.62 | 30-Nov-93 | 152.67 | 29-Nov-02 | 195.84 | |||||||||||||||||||||||||||
31-Dec-84 | 101.03 | 31-Dec-93 | 156.48 | 31-Dec-02 | 199.55 | |||||||||||||||||||||||||||
31-Jan-85 | 103.27 | 31-Jan-94 | 159.78 | 31-Jan-03 | 212.14 | |||||||||||||||||||||||||||
28-Feb-85 | 99.17 | 28-Feb-94 | 160.8 | 28-Feb-03 | 210.43 | |||||||||||||||||||||||||||
29-Mar-85 | 103.9 | 31-Mar-94 | 162.09 | 31-Mar-03 | 200.92 | |||||||||||||||||||||||||||
30-Apr-85 | 101.06 | 29-Apr-94 | 161.89 | 30-Apr-03 | 201.16 | |||||||||||||||||||||||||||
31-May-85 | 98.95 | 31-May-94 | 170 | 30-May-03 | 204.61 | |||||||||||||||||||||||||||
28-Jun-85 | 96.93 | 30-Jun-94 | 169.55 | 30-Jun-03 | 202.54 | |||||||||||||||||||||||||||
31-Jul-85 | 97.8 | 29-Jul-94 | 172.93 | 31-Jul-03 | 203.4 | |||||||||||||||||||||||||||
30-Aug-85 | 98.97 | 31-Aug-94 | 169.51 | 29-Aug-03 | 210.55 | |||||||||||||||||||||||||||
30-Sep-85 | 100.66 | 30-Sep-94 | 169.57 | 30-Sep-03 | 210.87 | |||||||||||||||||||||||||||
31-Oct-85 | 103.64 | 31-Oct-94 | 170.16 | 31-Oct-03 | 214.61 | |||||||||||||||||||||||||||
29-Nov-85 | 104.85 | 30-Nov-94 | 166.41 | 26-Nov-03 | 215.63 | |||||||||||||||||||||||||||
31-Dec-85 | 106.03 | 30-Dec-94 | 172.5 | 31-Dec-03 | 222.14 | |||||||||||||||||||||||||||
31-Jan-86 | 102.07 | 31-Jan-95 | 167.63 | 30-Jan-04 | 229.67 | |||||||||||||||||||||||||||
28-Feb-86 | 98.26 | 28-Feb-95 | 170.77 | 27-Feb-04 | 241.16 | |||||||||||||||||||||||||||
31-Mar-86 | 97.97 | 31-Mar-95 | 173.78 | 31-Mar-04 | 249.1 | |||||||||||||||||||||||||||
30-Apr-86 | 100.6 | 28-Apr-95 | 176.61 | 30-Apr-04 | 239.12 | |||||||||||||||||||||||||||
30-May-86 | 97.33 | 31-May-95 | 176.38 | 28-May-04 | 243.59 | |||||||||||||||||||||||||||
30-Jun-86 | 96.02 | 30-Jun-95 | 174.4 | 30-Jun-04 | 234.32 | |||||||||||||||||||||||||||
31-Jul-86 | 96.09 | 31-Jul-95 | 176.39 | 30-Jul-04 | 235.75 | |||||||||||||||||||||||||||
29-Aug-86 | 102.7 | 31-Aug-95 | 180.43 | 31-Aug-04 | 243.06 | |||||||||||||||||||||||||||
30-Sep-86 | 103.82 | 29-Sep-95 | 181.67 | 30-Sep-04 | 249.04 | |||||||||||||||||||||||||||
31-Oct-86 | 104.31 | 31-Oct-95 | 183.18 | 29-Oct-04 | 248.86 | |||||||||||||||||||||||||||
28-Nov-86 | 103.81 | 30-Nov-95 | 184.92 | 30-Nov-04 | 253.96 | |||||||||||||||||||||||||||
31-Dec-86 | 104.8 | 29-Dec-95 | 187.77 | 31-Dec-04 | 249.8 | |||||||||||||||||||||||||||
30-Jan-87 | 107.23 | 31-Jan-96 | 193.04 | 31-Jan-05 | 250.91 | |||||||||||||||||||||||||||
27-Feb-87 | 106 | 29-Feb-96 | 196.45 | 28-Feb-05 | 269.04 | |||||||||||||||||||||||||||
31-Mar-87 | 107.87 | 29-Mar-96 | 201.72 | 31-Mar-05 | 276.15 | |||||||||||||||||||||||||||
30-Apr-87 | 115.54 | 30-Apr-96 | 209.92 | 29-Apr-05 | 267.03 | |||||||||||||||||||||||||||
29-May-87 | 116.74 | 31-May-96 | 210.32 | 31-May-05 | 264.15 | |||||||||||||||||||||||||||
30-Jun-87 | 116.95 | 28-Jun-96 | 208.8 | 30-Jun-05 | 268.09 | |||||||||||||||||||||||||||
31-Jul-87 | 119.23 | 31-Jul-96 | 205.26 | 26-Jul-05 | 270.29 | |||||||||||||||||||||||||||
31-Aug-87 | 117.97 | 30-Aug-96 | 212.64 | 31-Aug-05 | 276.75 | |||||||||||||||||||||||||||
30-Sep-87 | 118.36 | 30-Sep-96 | 209.55 | 30-Sep-05 | 289.08 | |||||||||||||||||||||||||||
30-Oct-87 | 119 | 31-Oct-96 | 204.28 | 31-Oct-05 | 285.12 | |||||||||||||||||||||||||||
30-Nov-87 | 124.75 | 29-Nov-96 | 211.48 | 30-Nov-05 | 289.17 | |||||||||||||||||||||||||||
31-Dec-87 | 124.41 | 31-Dec-96 | 210.35 | 21-Dec-05 | 299.14 | |||||||||||||||||||||||||||
29-Jan-88 | 124.46 | 31-Jan-97 | 212.8 | 31-Jan-06 | 317.12 | |||||||||||||||||||||||||||
29-Feb-88 | 121.18 | 28-Feb-97 | 217.12 | 28-Feb-06 | 307.27 | |||||||||||||||||||||||||||
31-Mar-88 | 127.08 | 31-Mar-97 | 221.21 | 31-Mar-06 | 314.7 | |||||||||||||||||||||||||||
29-Apr-88 | 128.08 | 30-Apr-97 | 224.26 | 28-Apr-06 | 328.56 | |||||||||||||||||||||||||||
31-May-88 | 134.02 | 30-May-97 | 227.67 | 31-May-06 | 328.29 | |||||||||||||||||||||||||||
30-Jun-88 | 138.37 | 30-Jun-97 | 220.61 | 30-Jun-06 | 329.34 | |||||||||||||||||||||||||||
29-Jul-88 | 132.59 | 31-Jul-97 | 224.71 | 31-Jul-06 | 333.17 | |||||||||||||||||||||||||||
31-Aug-88 | 132.63 | 29-Aug-97 | 226.65 | 31-Aug-06 | 330.53 | |||||||||||||||||||||||||||
30-Sep-88 | 128.43 | 30-Sep-97 | 227.92 | 29-Sep-06 | 313.11 | |||||||||||||||||||||||||||
31-Oct-88 | 134.88 | 31-Oct-97 | 227.01 | 31-Oct-06 | 323.58 | |||||||||||||||||||||||||||
30-Nov-88 | 139.34 | 28-Nov-97 | 224.59 | 30-Nov-06 | 342.86 | |||||||||||||||||||||||||||
30-Dec-88 | 144.35 | 31-Dec-97 | 219.56 | 29-Dec-06 | 331.29 | |||||||||||||||||||||||||||
31-Jan-89 | 141.62 | 31-Jan-98 | 224.1 | 31-Jan-07 | 330.62 | |||||||||||||||||||||||||||
28-Feb-89 | 144.01 | 27-Feb-98 | 217.32 | 28-Feb-07 | 342.83 | |||||||||||||||||||||||||||
31-Mar-89 | 145.51 | 31-Mar-98 | 218.08 | 30-Mar-07 | 341.39 | |||||||||||||||||||||||||||
28-Apr-89 | 146.19 | 30-Apr-98 | 215.22 | 30-Apr-07 | 335.77 | |||||||||||||||||||||||||||
31-May-89 | 142.61 | 29-May-98 | 207.33 | 31-May-07 | 339.705 | |||||||||||||||||||||||||||
30-Jun-89 | 146.79 | 30-Jun-98 | 203.41 | 29-Jun-07 | 339.29 | |||||||||||||||||||||||||||
31-Jul-89 | 142.6 | 31-Jul-98 | 195.17 | 31-Jul-07 | 349.84 | |||||||||||||||||||||||||||
31-Aug-89 | 144.06 | 31-Aug-98 | 183.2 | 31-Aug-07 | 339.34 | |||||||||||||||||||||||||||
29-Sep-89 | 144.97 | 30-Sep-98 | 188.69 | 28-Sep-07 | 367.75 | |||||||||||||||||||||||||||
31-Oct-89 | 144.75 | 30-Oct-98 | 188.01 | 31-Oct-07 | 373.06 | |||||||||||||||||||||||||||
30-Nov-89 | 147.55 | 30-Nov-98 | 180.37 | 30-Nov-07 | 368.91 | |||||||||||||||||||||||||||
29-Dec-89 | 150.98 | 31-Dec-98 | 174.47 | 31-Dec-07 | 388.29 |
5
XI. | The second paragraph following the heading THE COMMODITY BROKER on page 23 of the
Prospectus is hereby deleted and replaced, in its entirety, with the following: |
XII. | The following additional heading and paragraph are added immediately following the third
paragraph under the heading The Managing Owner on page 29 of the Prospectus: |
XIII. | The disclosures relating to Ashmead Pringle and Thomas Fernandes in the Principals and Key
Employees Section of the Prospectus on page 29 are hereby deleted and replaced, in their
entirety, with the following: |
XIV. | The first paragraph under the heading Organization and Offering Expenses on page 39 of the
Prospectus is hereby deleted and replaced, in its entirety, with the following: |
6
XV. | The paragraph immediately following the heading Brokerage Commissions and Fees on page 39
of the Prospectus is hereby deleted and replaced, in its entirety, with the following: |
XVI. | The reference to the date Sept 30, 2010 in the second paragraph under the heading License
Agreement on page 43 of the Prospectus is hereby deleted and replaced with the date October
1, 2011. |
XVII. | The fourth paragraph on page 63 of the Prospectus is hereby deleted and replaced, in its
entirety, with the following: |
XVIII. | The Statement of Additional Information Section of the Prospectus on page 98 of the
Prospectus is hereby deleted and replaced, in its entirety, with the following to reflect the
current Date as required by the National Futures Association annual review of the funds
disclosure document: |
7