EFTA Document EFTA01392272

GLDUS128 Patrick Gerschel iCapital Advisors, LLC Form ADV Part 2A and may perform in ways unanticipated by a Fund's Sub-Adviser or an Underlying Fund Manager. In addition to the risks of an adverse change in the value of the underlying reference asset. a Fund's use of derivatives involves the risk that the other party to the derivative contract will fail to make required payments or otherwise to comply with the terms of the contract. Derivatives transactions can create investment leverage