Risk factors

The Trust relies entirely on the euro exchange rate, deposit interest rates, and JPMorgan Chase Bank as depository.

Trust performance depends entirely on Swiss Franc exchange rates, deposit interest rates, and operational expenses.

The Trust's risks are dominated by Japanese Yen exchange rate volatility, interest income shortfalls relative to expenses, and lack of FDIC or investment company protections.

UK’s 20% VAT on private-school fees may reduce MPW enrollment from January 2025.

Risk section is dominated by supply chain vulnerabilities, distribution dependencies, and MRO industry consolidation.

Globe Life faces significant risks from short-selling campaigns and related securities litigation impacting stock price and reputation.

Grocery Outlet relies heavily on independent operators for store execution and opportunistic supplier inventory sourcing. Geographic concentration in California and a new restructuring plan dominate its risk profile.

Gulfport Energy is heavily concentrated in eastern Ohio and central Oklahoma, exposing it to localized weather and infrastructure risks.

Green Brick Partners faces significant cyclicality in the homebuilding sector, relying heavily on third-party subcontractors and mortgage financing availability for buyers.

The company relies heavily on Walmart and Amazon for revenue concentration.

Company faces intense competition across healthcare data analytics, consulting, and population health management solutions.

Master planned community and real estate development risks are dominated by geographic concentration in Texas, Hawaii, Nevada, and Maryland. Large financial obligations include 5.1 billion dollars of total consolidated debt and 802.7 million dollars in net operating loss carryforwards. Major shareholder Pershing Square owns 37.4 percent and has submitted alternative proposals.