KSLV

KSLV aims to deliver enhanced returns as compared to traditional physical silver investments through the use of derivatives. The fund primarily holds silver and silver bullion-related ETPs but will also use derivatives to synthetically create long exposure, leverage exposure, generate income, or hedge downside risk. Leveraged exposure is capped at 200%. Various option strategies are used, such as covered and naked calls and puts, spreads, collars, and protective puts. Fixed income and preferred securities are used to actively manage collateral. It primarily includes USD-denominated investment-grade debt, with up to 20% in high yield bonds. Preferred securities may comprise up to 15% of the fund's assets. Up to 25% of fund assets are invested through a wholly owned subsidiary in the Cayman Islands.