Listed Funds Trust - Teucrium Agricultural No K-1 Strategy ETF (TILL)

Overview

The Teucrium Agricultural Strategy No K-1 ETF (TAGS) provides exposure to a diversified portfolio of agricultural commodities futures contracts without issuing a K-1 tax form. It aims to provide investors with a convenient and tax-efficient way to access the agricultural sector.

Reputation and Reliability

Teucrium is a well-known issuer specializing in commodity ETFs. Their reputation is generally positive for providing focused access to specific commodities and strategies.

Management Expertise

Teucrium has a team with expertise in commodity markets and ETF management. They focus on strategies that avoid K-1 forms, which can be a benefit to investors.

Goal

To seek investment results that correspond generally to the daily changes in percentage terms of a weighted average of the closing settlement prices of certain specified agricultural commodities futures contracts.

Investment Approach and Strategy

Strategy: The ETF does not track a specific index but rather invests in a diversified portfolio of agricultural commodity futures, rolled periodically.

Composition The ETF holds futures contracts on corn, soybeans, wheat, and sugar. The weighting is based on a rules-based methodology.

Market Share: The Teucrium Agricultural Strategy No K-1 ETF holds a moderate market share within the broader agricultural commodity ETF landscape.

Total Net Assets (AUM): 75592625

Key Competitors

• Invesco DB Agriculture Fund (DBA)
• Elements Rogers International Commodity Index-Agriculture TR ETN (RJA)
• iPath Series B Bloomberg Agriculture Subindex Total Return ETN (JJA)

Competitive Landscape

The agricultural commodity ETF market is competitive, with several established players. TAGS differentiates itself by offering diversified agricultural exposure without issuing a K-1 form, appealing to investors seeking simplified tax reporting. However, DBA, as the largest fund, benefits from greater liquidity and brand recognition. Other ETNs offer exposure to slightly different baskets of agricultural commodities.

Historical Performance: Historical performance data is readily available from financial websites. Reviewing the ETFu2019s performance over different time periods to understand its track record.

Benchmark Comparison: The ETF is not designed to track a specific index but should be compared to other broad agricultural commodity benchmarks to assess its effectiveness.

Expense Ratio: 0.27

Average Trading Volume

The average trading volume for TAGS is moderate, which could impact execution costs for larger trades.

Bid-Ask Spread

The bid-ask spread is usually reasonable, but larger order sizes could affect execution price.

Market Environment Factors

Economic indicators like inflation, supply chain disruptions, geopolitical tensions, and weather patterns influence agricultural commodity prices and the ETF's performance.

Growth Trajectory

The ETF's growth trajectory depends on agricultural commodity prices, trading volumes, and its ability to attract and retain assets. Demand for agricultural commodities impacts TAGS's growth.

Competitive Edge

TAGS offers a convenient way to gain exposure to a basket of agricultural commodities without the complexities of K-1 tax forms, providing an advantage for investors seeking a simplified tax reporting experience. Its diversified approach mitigates risk compared to single-commodity ETFs. Teucrium's commodity ETF expertise further enhances its appeal. The no K-1 advantage is a differentiator. However, higher liquidity alternatives might exist.

Volatility

Agricultural commodity prices can be highly volatile due to factors like weather, disease outbreaks, and global demand. Therefore, TAGS is subject to these volatilities.

Market Risk

TAGS faces risks related to commodity market fluctuations, futures contract roll costs, and changes in government policies affecting agriculture.

Ideal Investor Profile

The ideal investor profile is someone seeking diversified exposure to agricultural commodities with a desire to avoid K-1 tax forms, willing to accept moderate risk, and has a medium to long-term investment horizon.

Market Risk

TAGS may be suitable for both long-term investors seeking commodity diversification and active traders looking to capitalize on short-term price movements in agricultural markets.

The Teucrium Agricultural Strategy No K-1 ETF (TAGS) offers exposure to a basket of agricultural commodities futures contracts without the K-1 tax form. This provides a tax-efficient method for investors seeking to add agricultural exposure to their portfolio. TAGS faces risks tied to commodity market volatility. Its success relies on sound management of futures contracts and the ability to remain competitive within the agriculture ETF space.

Data Sources:

• Teucrium Funds website
• ETF.com
• Morningstar

Disclaimers:

The data and analysis provided are for informational purposes only and should not be considered investment advice. Investment decisions should be made based on your own research and risk tolerance.