Fri, Sep 27, 6:01 PM (85 days ago)
Amplify Commodity Trust's 10-K report for the fiscal year ending June 30, 2024, highlights significant changes and financial performance for its series, Breakwave Dry Bulk Shipping ETF (BDRY) and Breakwave Tanker Shipping ETF (BWET). Notably, BDRY's share price surged 120.54% to $12.24, while BWET's share value decreased 19.59% to $16.79. BDRY reported a net income of $46.77 million, attributed to net realized losses of $34.48 million and unrealized losses of $12.90 million. BWET experienced a net loss of $318,928. Operating expenses for BDRY totaled $2.44 million (up from $2.42 million in 2023), while BWET's expenses were $577,056. Both funds maintained an expense cap of 3.50% through December 2024. The report also outlines risks, including geopolitical tensions affecting shipping routes and freight rates. The change in sponsorship from ETF Managers Capital LLC to Amplify Investments LLC was finalized in February 2024, with no significant impact on fund operations. The financial condition of both funds reflects challenges in the current market landscape, emphasizing the volatility in freight futures and operational costs.