Metaurus Equity Component Trust (IDIV) 10-Q 14 Aug 18 2018 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	5 Months Ended
	Jun. 30, 2018	Aug. 01, 2018
Document and Entity Information [Abstract]
Entity Registrant Name	Metaurus Equity Component Trust
Entity Central Index Key	1,688,487
Trading Symbol	XDIV
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Document Type	10-Q
Document Period End Date	Jun. 30, 2018
Document Fiscal Year Focus	2,018
Document Fiscal Period Focus	Q2
Entity Filer Category	Smaller Reporting Company
Entity Common Stock, Shares Outstanding		500,000

Statement of Financial Conditio

Statement of Financial Condition (Unaudited)	Jun. 30, 2018USD ($)$ / shares
U.S. Equity Cumulative Dividends Fund-Series 2027
Assets
Investments, at Fair Value	$ 5,220,467
Cash and Cash Equivalents	67,308
Cash Pledged as Collateral on Futures	26,014
Interest Receivable	34,733
Receivable from Advisor	9,640
Deffered Offering Costs	123,816
Prepaid Expenses	3,578
Total Assets	5,485,556
Liabilities
Due to Metaurus LLC	124,500
Variation Margin Payable	14,000
Income Distribution Payable	41,000
Other Accrued Expenses	28,197
Total Liabilities	207,697
Shareholder Equity
Authorized Participants	$ 5,277,859
Net Asset Value Per Share | $ / shares	$ 13.2
Market Price | $ / shares	$ 13.27
U.S. Equity Ex-Dividend Fund-Series 2027
Assets
Investments, at Fair Value	$ 13,186,431
Cash and Cash Equivalents	155,289
Cash Pledged as Collateral on Futures	189,487
Variation Margin Receivable	21,875
Receivable from Advisor	3,939
Deffered Offering Costs	122,898
Prepaid Expenses	18,967
Total Assets	13,698,886
Liabilities
Due to Metaurus LLC	124,500
Payable to Administrator	3,082
Other Accrued Expenses	35,958
Total Liabilities	163,540
Shareholder Equity
Authorized Participants	$ 13,535,346
Net Asset Value Per Share | $ / shares	$ 54.14
Market Price | $ / shares	$ 54

Statement of Financial Conditi3

Statement of Financial Condition (Parenthetical) (Unaudited)	Jun. 30, 2018USD ($)shares
U.S. Equity Cumulative Dividends Fund-Series 2027
Investment cost | $	$ 5,231,529
Shares Outstanding | shares	400,000
U.S. Equity Ex-Dividend Fund-Series 2027
Investment cost | $	$ 13,185,650
Shares Outstanding | shares	250,000

Schedule of Investments (Unaudi

Schedule of Investments (Unaudited)	Jun. 30, 2018USD ($)
U.S. Equity Cumulative Dividends Fund-Series 2027
Net Investment Income [Line Items]
Total Investments	$ 5,220,467
U.S. Equity Ex-Dividend Fund-Series 2027
Net Investment Income [Line Items]
Total Investments	13,186,431
6.125%, 11/15/2027 | U.S. Equity Cumulative Dividends Fund-Series 2027
Net Investment Income [Line Items]
Principal Amount	680,000	[1]
Total Investments	862,033	[1]
2.250%, 11/15/2024 | U.S. Equity Cumulative Dividends Fund-Series 2027
Net Investment Income [Line Items]
Principal Amount	592,000	[1]
Total Investments	572,795	[1]
2.250%, 11/15/2025 | U.S. Equity Cumulative Dividends Fund-Series 2027
Net Investment Income [Line Items]
Principal Amount	608,000	[1]
Total Investments	584,761	[1]
2.250%, 12/31/2023 | U.S. Equity Cumulative Dividends Fund-Series 2027
Net Investment Income [Line Items]
Principal Amount	552,000	[1]
Total Investments	537,413	[1]
2.125%, 12/31/2022 | U.S. Equity Cumulative Dividends Fund-Series 2027
Net Investment Income [Line Items]
Principal Amount	520,000	[1]
Total Investments	506,888	[1]
2.000%, 11/15/2026 | U.S. Equity Cumulative Dividends Fund-Series 2027
Net Investment Income [Line Items]
Principal Amount	656,000	[1]
Total Investments	614,667	[1]
2.000%, 12/31/2021 | U.S. Equity Cumulative Dividends Fund-Series 2027
Net Investment Income [Line Items]
Principal Amount	488,000	[1]
Total Investments	477,144	[1]
1.750%, 12/31/2020 | U.S. Equity Cumulative Dividends Fund-Series 2027
Net Investment Income [Line Items]
Principal Amount	456,000	[1]
Total Investments	446,782	[1]
1.625%, 12/31/2019 | U.S. Equity Cumulative Dividends Fund-Series 2027
Net Investment Income [Line Items]
Principal Amount	424,000
Total Investments	418,758
1.250%, 12/15/2018 | U.S. Equity Cumulative Dividends Fund-Series 2027
Net Investment Income [Line Items]
Principal Amount	200,000
Total Investments	199,226
1.985%, 11/01/2018 | U.S. Equity Ex-Dividend Fund-Series 2027
Net Investment Income [Line Items]
Principal Amount	13,275,000	[2],[3]
Total Investments	13,186,431	[2],[3]
Total U.S. Treasury Obligations | U.S. Equity Cumulative Dividends Fund-Series 2027
Net Investment Income [Line Items]
Total Investments	5,220,467
Total U.S. Treasury Obligations | U.S. Equity Ex-Dividend Fund-Series 2027
Net Investment Income [Line Items]
Total Investments	$ 13,186,431
[1]	Security, or a portion of these securities, has been pledged as collateral for the trading of futures.
[2]	A portion of this security is pledged as collateral for the trading of futures.
[3]	Zero coupon security. The rate reported on the Schedule of Investments is the effective yield at time of purchase.

Schedule of Investments 1 (Unau

Schedule of Investments 1 (Unaudited) - Open Futures Contracts	5 Months Ended
	Jun. 30, 2018USD ($)Contracts
U.S. Equity Cumulative Dividends Fund-Series 2027
Unrealized Appreciation (Depreciation)	$ (30,113)
U.S. Equity Cumulative Dividends Fund-Series 2027 | S&P 500 Annl Div Dec18
Number of Contracts Long | Contracts	40
Expiration Date	12/24/2018
Notional Amount	$ 534,699
Value	539,500
Unrealized Appreciation (Depreciation)	$ 4,801
U.S. Equity Cumulative Dividends Fund-Series 2027 | S&P 500 Annl Div Dec19
Number of Contracts Long | Contracts	40
Expiration Date	12/23/2019
Notional Amount	$ 561,699
Value	565,000
Unrealized Appreciation (Depreciation)	$ 3,301
U.S. Equity Cumulative Dividends Fund-Series 2027 | S&P 500 Annl Div Dec20
Number of Contracts Long | Contracts	40
Expiration Date	12/21/2020
Notional Amount	$ 588,886
Value	591,000
Unrealized Appreciation (Depreciation)	$ 2,114
U.S. Equity Cumulative Dividends Fund-Series 2027 | S&P 500 Annl Div Dec21
Number of Contracts Long | Contracts	40
Expiration Date	12/20/2021
Notional Amount	$ 616,761
Value	612,500
Unrealized Appreciation (Depreciation)	$ (4,261)
U.S. Equity Cumulative Dividends Fund-Series 2027 | S&P 500 Annl Div Dec22
Number of Contracts Long | Contracts	40
Expiration Date	12/19/2022
Notional Amount	$ 637,699
Value	630,000
Unrealized Appreciation (Depreciation)	$ (7,699)
U.S. Equity Cumulative Dividends Fund-Series 2027 | S&P 500 Annl Div Dec23
Number of Contracts Long | Contracts	40
Expiration Date	12/18/2023
Notional Amount	$ 655,011
Value	647,500
Unrealized Appreciation (Depreciation)	$ (7,511)
U.S. Equity Cumulative Dividends Fund-Series 2027 | S&P 500 Annl Div Dec24
Number of Contracts Long | Contracts	40
Expiration Date	12/23/2024
Notional Amount	$ 674,699
Value	667,000
Unrealized Appreciation (Depreciation)	$ (7,699)
U.S. Equity Cumulative Dividends Fund-Series 2027 | S&P 500 Annl Div Dec25
Number of Contracts Long | Contracts	40
Expiration Date	12/22/2025
Notional Amount	$ 691,386
Value	684,500
Unrealized Appreciation (Depreciation)	$ (6,886)
U.S. Equity Cumulative Dividends Fund-Series 2027 | S&P 500 Annl Div Dec26
Number of Contracts Long | Contracts	40
Expiration Date	12/21/2026
Notional Amount	$ 708,574
Value	704,000
Unrealized Appreciation (Depreciation)	$ (4,574)
U.S. Equity Cumulative Dividends Fund-Series 2027 | S&P 500 Annl Div Dec27
Number of Contracts Long | Contracts	40
Expiration Date	12/20/2027
Notional Amount	$ 726,199
Value	724,500
Unrealized Appreciation (Depreciation)	(1,699)
U.S. Equity Ex-Dividend Fund-Series 2027
Unrealized Appreciation (Depreciation)	$ (341,514)
U.S. Equity Ex-Dividend Fund-Series 2027 | S&P 500 Annl Div Dec18
Number of Contracts Long | Contracts	25
Expiration Date	12/24/2018
Notional Amount	$ (333,239)
Value	(337,188)
Unrealized Appreciation (Depreciation)	$ (3,949)
U.S. Equity Ex-Dividend Fund-Series 2027 | S&P 500 Annl Div Dec19
Number of Contracts Long | Contracts	25
Expiration Date	12/23/2019
Notional Amount	$ (349,301)
Value	(353,125)
Unrealized Appreciation (Depreciation)	$ (3,824)
U.S. Equity Ex-Dividend Fund-Series 2027 | S&P 500 Annl Div Dec20
Number of Contracts Long | Contracts	25
Expiration Date	12/21/2020
Notional Amount	$ (366,801)
Value	(369,375)
Unrealized Appreciation (Depreciation)	$ (2,574)
U.S. Equity Ex-Dividend Fund-Series 2027 | S&P 500 Annl Div Dec21
Number of Contracts Long | Contracts	25
Expiration Date	12/20/2021
Notional Amount	$ (385,489)
Value	(382,813)
Unrealized Appreciation (Depreciation)	$ 2,676
U.S. Equity Ex-Dividend Fund-Series 2027 | S&P 500 Annl Div Dec22
Number of Contracts Long | Contracts	25
Expiration Date	12/19/2022
Notional Amount	$ (398,364)
Value	(393,750)
Unrealized Appreciation (Depreciation)	$ 4,614
U.S. Equity Ex-Dividend Fund-Series 2027 | S&P 500 Annl Div Dec23
Number of Contracts Long | Contracts	25
Expiration Date	12/18/2023
Notional Amount	$ (407,739)
Value	(404,688)
Unrealized Appreciation (Depreciation)	$ 3,051
U.S. Equity Ex-Dividend Fund-Series 2027 | S&P 500 Annl Div Dec24
Number of Contracts Long | Contracts	25
Expiration Date	12/23/2024
Notional Amount	$ (419,614)
Value	(416,875)
Unrealized Appreciation (Depreciation)	$ 2,739
U.S. Equity Ex-Dividend Fund-Series 2027 | S&P 500 Annl Div Dec25
Number of Contracts Long | Contracts	25
Expiration Date	12/22/2025
Notional Amount	$ (428,926)
Value	(427,813)
Unrealized Appreciation (Depreciation)	$ 1,114
U.S. Equity Ex-Dividend Fund-Series 2027 | S&P 500 Annl Div Dec26
Number of Contracts Long | Contracts	25
Expiration Date	12/21/2026
Notional Amount	$ (438,676)
Value	(440,000)
Unrealized Appreciation (Depreciation)	$ (1,324)
U.S. Equity Ex-Dividend Fund-Series 2027 | S&P 500 Annl Div Dec27
Number of Contracts Long | Contracts	25
Expiration Date	12/20/2027
Notional Amount	$ (448,864)
Value	(452,813)
Unrealized Appreciation (Depreciation)	$ (3,949)
U.S. Equity Ex-Dividend Fund-Series 2027 | S&P 500 Index Sept 18
Number of Contracts Long | Contracts	25
Expiration Date	09/21/2018
Notional Amount	$ 17,350,088
Value	17,010,000
Unrealized Appreciation (Depreciation)	$ (340,088)

Schedule of Investments (Parent

Schedule of Investments (Parenthetical) (Unaudited)	5 Months Ended
	Jun. 30, 2018USD ($)
U.S. Equity Cumulative Dividends Fund-Series 2027
Investment percentage	98.90%
Investment cost	$ 5,231,529
Percentages are based on net assets	$ 5,277,859
U.S. Equity Cumulative Dividends Fund-Series 2027 | Investments
Investment percentage	97.60%
Investment cost	$ 5,231,529
U.S. Equity Cumulative Dividends Fund-Series 2027 | 6.125%, 11/15/2027
Investment percentage	6.125%
Investment date	11/15/2027
U.S. Equity Cumulative Dividends Fund-Series 2027 | 2.250%, 11/15/2024
Investment percentage	2.25%
Investment date	11/15/2024
U.S. Equity Cumulative Dividends Fund-Series 2027 | 2.250%, 11/15/2025
Investment percentage	2.25%
Investment date	11/15/2025
U.S. Equity Cumulative Dividends Fund-Series 2027 | 2.250%, 12/31/2023
Investment percentage	2.25%
Investment date	12/31/2023
U.S. Equity Cumulative Dividends Fund-Series 2027 | 2.125%, 12/31/2022
Investment percentage	2.125%
Investment date	12/31/2022
U.S. Equity Cumulative Dividends Fund-Series 2027 | 2.000%, 11/15/2026
Investment percentage	2.00%
Investment date	11/15/2026
U.S. Equity Cumulative Dividends Fund-Series 2027 | 2.000%, 12/31/2021
Investment percentage	2.00%
Investment date	12/31/2021
U.S. Equity Cumulative Dividends Fund-Series 2027 | 1.750%, 12/31/2020
Investment percentage	1.75%
Investment date	12/31/2020
U.S. Equity Cumulative Dividends Fund-Series 2027 | 1.625%, 12/31/2019
Investment percentage	1.625%
Investment date	12/31/2019
U.S. Equity Cumulative Dividends Fund-Series 2027 | 1.250%, 12/15/2018
Investment percentage	1.25%
Investment date	12/15/2018
U.S. Equity Ex-Dividend Fund-Series 2027
Investment percentage	94.90%
Investment cost	$ 13,185,650
Percentages are based on net assets	$ 13,535,346
U.S. Equity Ex-Dividend Fund-Series 2027 | Investments
Investment percentage	97.40%
Investment cost	$ 13,185,650
U.S. Equity Ex-Dividend Fund-Series 2027 | 1.985%, 11/01/2018
Investment percentage	1.985%
Investment date	11/01/2018

Statement of Operations (Unaudi

Statement of Operations (Unaudited) - USD ($)	3 Months Ended	5 Months Ended
	Jun. 30, 2018	Jun. 30, 2018
U.S. Equity Cumulative Dividends Fund-Series 2027
Investment income
Interest Income	$ 24,943	$ 36,562
Expenses
Advisory Fees	5,714	8,358
Administration Fees	18,698	29,794
Professional Fees	5,683	6,459
Custody Fees	797	1,021
Tax Preparation Fees	11,603	13,187
Other Expenses	8,162	9,502
Total Expenses	50,657	68,321
Less Waivers of:
Voluntary Waivers	(33,250)	(33,250)
Net Expenses	17,407	35,071
Net Investment Income (Loss)	7,536	1,491
Net Realized and Unrealized Gain (Loss) from Investment Activities
Net Realized Gain (Loss) on Investments	(1,463)	(2,319)
Net Change in Unrealized Appreciation (Depreciation) on Investments	(15,204)	(11,062)
Net Change in Unrealized Appreciation (Depreciation) Futures Contracts	(108,814)	(30,113)
Net Realized and Unrealized Gain (Loss) on Investments	(125,481)	(43,494)
Net Increase in Net Assets Resulting from Operations	(117,945)	(42,003)
U.S. Equity Ex-Dividend Fund-Series 2027
Investment income
Interest Income	57,419	82,780
Expenses
Advisory Fees	9,679	14,781
Administration Fees	18,699	29,795
Professional Fees	6,927	8,137
Custody Fees	1,458	1,907
Tax Preparation Fees	14,144	16,615
Other Expenses	9,602	11,780
Total Expenses	60,509	83,015
Less Waivers of:
Voluntary Waivers	(18,868)	(18,868)
Net Expenses	41,641	64,147
Net Investment Income (Loss)	15,778	18,633
Net Realized and Unrealized Gain (Loss) from Investment Activities
Net Realized Gain (Loss) on Investments		103
Net Realized Gain on Futures Contracts	274,512	712,229
Net Change in Unrealized Appreciation (Depreciation) on Investments	(1,479)	781
Net Change in Unrealized Appreciation (Depreciation) Futures Contracts	271,561	(341,514)
Net Realized and Unrealized Gain (Loss) on Investments	544,594	371,599
Net Increase in Net Assets Resulting from Operations	$ 560,372	$ 390,232

Statements of Changes in Shareh

Statements of Changes in Shareholders' Equity (Unaudited) - 5 months ended Jun. 30, 2018 - USD ($)	U.S. EQUITY CUMULATIVE DIVIDENDS FUND-SERIES 2027	U.S. EQUITY EX-DIVIDEND FUND-SERIES 2027
Operations:
Net Investment Income	$ 1,491	$ 18,633
Net Realized Loss on Investments	(2,319)	712,332
Net Change in unrealized appreciation on Investments and Futures Contracts	(41,175)	(340,733)
Net Decrease in Net Assets Resulting from Operations	(42,003)	390,232
Dividends and Distributions to Shareholders:
Investment Income	(125,000)
Total Dividends and Distributions	(125,000)
Capital Share Transactions:
Issued	5,443,862	13,144,114
Net Increase Resulting from Capital Transactions	5,443,862	13,144,114
Total Increase in Net Assets	5,276,859	13,534,346
Beginning of period at Jan. 16, 2018	1,000	1,000
End of period at Jun. 30, 2018	5,277,859	13,535,346
Capital Share Transactions:
Beginning of Period
Issued	400,000	250,000
Net Increase in Shares Outstanding from Share Transactions	$ 400,000	$ 250,000

Statement of Cash Flows (Unaudi

Statement of Cash Flows (Unaudited)	5 Months Ended
	Jun. 30, 2018USD ($)
U.S. EQUITY CUMULATIVE DIVIDENDS FUND-SERIES 2027
Cash Flows from operating activities
Net decrease in net assets from operating activities	$ (42,003)
Adjustments to reconcile net increase in net assets from operations to net cash used in operating activities:
Purchases of investments	(5,535,186)
Proceeds from sale of investments	301,338
Net realized loss (gain) on investments	2,319
Net change in unrealized depreciation (appreciation) on investments	11,062
(lncrease)/decrease in operating assets
Cash pledged as collateral on futures	(26,014)
Interest receivable	(34,733)
Receivable from advisor	(9,640)
Prepaid expenses	(3,578)
Deferred offering costs	(123,816)
Increase/(decrease) in operating liabilities
Variation margin payable	14,000
Other accrued expenses	28,197
Net cash used in operating activities	(5,418,054)
Cash Flows from financing activities
Proceeds from capital issuances	5,443,862
Distributions to shareholders	(84,000)
Net cash provided by financing activities	5,359,862
Net change in cash and cash equivalents	(58,192)
Cash and cash equivalents, beginning of period	125,500
Cash and cash equivalents, end of period	67,308
U.S. EQUITY EX-DIVIDEND FUND-SERIES 2027
Cash Flows from operating activities
Net decrease in net assets from operating activities	390,232
Adjustments to reconcile net increase in net assets from operations to net cash used in operating activities:
Purchases of investments	(40,569,754)
Proceeds from sale of investments	27,384,207
Net realized loss (gain) on investments	(103)
Net change in unrealized depreciation (appreciation) on investments	(781)
(lncrease)/decrease in operating assets
Cash pledged as collateral on futures	(189,487)
Receivable from advisor	(3,939)
Variation margin receivable	(21,875)
Prepaid expenses	(18,967)
Deferred offering costs	(122,898)
Increase/(decrease) in operating liabilities
Payable to administrator	3,082
Other accrued expenses	35,958
Net cash used in operating activities	(13,114,325)
Cash Flows from financing activities
Proceeds from capital issuances	13,144,114
Net cash provided by financing activities	13,144,114
Net change in cash and cash equivalents	29,789
Cash and cash equivalents, beginning of period	125,500
Cash and cash equivalents, end of period	$ 155,289

Organization

Organization	5 Months Ended
	Jun. 30, 2018
Organization [Abstract]
ORGANIZATION	NOTE 1 – ORGANIZATION Metaurus Equity Component Trust (the “Trust”), was formed in September 2016 and is authorized to have multiple series or portfolios. The Trust is a statutory trust formed under the laws of the state of Delaware. The Trust currently has two series or funds traded on the NYSE Arca, Inc. exchange, U.S. Equity Cumulative Dividends Fund─Series 2027 (the “Dividend Fund”) and U.S. Equity Ex-Dividend Fund─Series 2027 (the “Ex-Dividend Fund”, each a “Fund” or “ETF”), collectively the “Funds” or “ETFs”). Metaurus Advisors LLC (the “Sponsor”) serves as the sponsor, commodity pool operator and commodity trading advisor of each Fund. Each of the Funds commenced operations on January 17, 2018 and commenced investment operations on February 5, 2018. The Trust has had no investment operations prior to February 5, 2018 other than matters relating to its organization, the registration of each series/Fund under the Securities Act of 1933, as amended, and matters relating to their establishment and the capital contribution by the Sponsor of $1,000 to each Fund on December 22, 2017. The investment objective of the ETFs is to employ a passive management, or indexing, investment approach designed to correspond to the performance of each underlying index, before fees and expenses. Individual Shares of the ETFs may be purchased and sold only on a national securities exchange, an alternative trading system or in the over-the-counter market and not directly from the ETFs. Only broker-dealers who have entered into agreements with the Trust to act as authorized participants of the Trust (“Authorized Participants”) may purchase or redeem shares directly with the ETFs. Shares of the ETFs are listed and traded on the NYSE Arca, Inc. exchange. The Fund will issue and redeem Shares on a continuous basis, through SEI Investments Distribution Co. (the “Distributor”), at net asset value (“NAV”) per Share only in one or more large blocks of 50,000 Shares, called “Baskets”. Baskets may be issued and redeemed for cash but are expected to be issued and redeemed principally through exchange for related positions (“EFRP”) transactions for (i) futures contracts, Treasury securities and other financial instruments designed to track such Fund’s underlying index (“Deposit Instruments”) and (ii) a cash amount that includes a variable charge. Creation and redemption prices of Baskets are directly linked to a Fund’s next computed NAV and will vary from NAV by a market-determined trading cost, which may be zero. Shares generally will trade in the secondary market in amounts less than a Basket at market prices that change throughout the day. Trading prices in the secondary market for the Shares may be different from the NAVs of the ETFs. Undefined capitalized terms shall have the meaning as set forth in the registration statement.

Summary of Significant Accounti

Summary of Significant Accounting Policies	5 Months Ended
	Jun. 30, 2018
Summary of Significant Accounting Policies [Abstract]
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	NOTE 2 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Each Fund is an investment company, as defined by Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) Topic 946 Financial Services — Investment Companies The accompanying unaudited financial statements were prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”) for interim financial information and with the instructions for Form 10-Q and the rules and regulations of the SEC. In the opinion of management, all material adjustments, consisting only of normal recurring adjustments, considered necessary for a fair statement of the interim period financial statements have been made. Interim period results are not necessarily indicative of results for a full-year period. The following significant accounting policies, which are consistently followed in the preparation of the financial statements of the Fund, are in conformity with GAAP. Basis of Presentation, Use of Estimates & Indemnifications The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosures of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. In the normal course of business, the Trust enters into contracts that contain a variety of representations which provide general indemnifications. The Trust’s maximum exposure under these arrangements cannot be known; however, the Trust expects any risk of loss to be remote. Concentration of Credit Risk Credit risk is the risk that a financial loss will be incurred if a Fund’s counterparty does not fulfil its financial obligations in a timely manner. Financial instruments that potentially subject the Funds to concentrations of credit risk consist principally of investments and cash deposits. Investments and cash of each Fund at June 30, 2018 are held at Brown Brothers, Harriman & Co., Morgan Stanley & Co. LLC, and First Republic Bank. Final Net Asset Value for Fiscal Period The net asset value (“NAV”) per Share for a Fund is determined by dividing the net assets of the Fund by the number of outstanding Shares. The NAVs of the ETFs is determined as soon as practicable after the close of regular trading of the Shares on the NYSE Arca (normally 4:00 P.M. ET) on each Business Day. Each Fund’s net assets on a Business Day is obtained by subtracting accrued expenses and other liabilities borne by such Fund, if any, from the total value of the assets held by the Fund, in each case, as of the time of calculation. The Administrator of the ETFs is responsible for making these determinations. FAIR VALUE OF FINANCIAL INSTRUMENTS Security Valuation — Securities listed on a securities exchange, market or automated quotation system for which quotations are readily available (except for securities traded on NASDAQ), including securities traded over the counter, are valued at the last quoted sale price on the primary exchange or market (foreign or domestic) on which they are traded (or at approximately 4:00 pm Eastern Time if a security’s primary exchange is normally open at that time), or, if there is no such reported sale, at the most recent quoted bid for long positions and the most recent ask price for short positions. For securities traded on NASDAQ, the NASDAQ Official Closing Price will be used. If available, debt securities are priced based upon valuations provided by independent, third-party pricing agents. Such values generally reflect the last reported sales price if the security is actively traded. The third-party pricing agents may also value debt securities at an evaluated bid price by employing methodologies that utilize actual market transactions, broker-supplied valuations, or other methodologies designed to identify the fair value for such securities. Debt obligations with remaining maturities of sixty days or less when acquired will be valued at their market value. If a market value is not available from a pricing vendor or from an independent broker, the security shall be fair valued according to the Trust’s Fair Value Procedures. Prices for most securities held in the Funds are provided daily by recognized independent pricing agents. If a security price cannot be obtained from an independent, third-party pricing agent, the Funds seek to obtain a bid price from at least one independent broker. Securities for which market prices are not “readily available” are valued in accordance with Fair Value Procedures established by the Sponsor or a committee of its personnel thereof. Some of the more common reasons that may necessitate that a security be valued using Fair Value Procedures include: the security’s trading has been halted or suspended; the security has been de-listed from a national exchange; the security’s primary trading market is temporarily closed at a time when under normal conditions it would be open; the security has not been traded for an extended period of time; the security’s primary pricing source is not able or willing to provide a price; or trading of the security is subject to local government-imposed restrictions. In addition, the Funds may fair value their securities if an event that may materially affect the value of a Fund’s securities that traded outside of the United States (a “Significant Event”) has occurred between the time of the security’s last close and the time that the Fund calculates its net asset value. A Significant Event may relate to a single issuer or to an entire market sector. Events that may be Significant Events include: government actions, natural disasters, armed conflict, acts of terrorism and significant market fluctuations. If the Adviser becomes aware of a Significant Event that has occurred with respect to a security or group of securities after the closing of the exchange or market on which the security or securities principally trade, but before the time at which the Fund calculates its net asset value, it may request that a valuation meeting be called. When a security is valued in accordance with the Fair Value Procedures, the Sponsor or its designees will determine the fair value after taking into consideration relevant information reasonably available to it. In accordance with the authoritative guidance on fair value measurements and disclosure under U.S.GAAP, the Funds disclose fair value of their investments in a hierarchy that prioritizes the inputs to valuation techniques used to measure the fair value. The objective of a fair value measurement is to determine the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date (an exit price). Accordingly, the fair value hierarchy gives the highest priority to quoted prices (unadjusted) in active markets for identical assets or liabilities (Level 1) and the lowest priority to unobservable inputs (Level 3).The three levels of the fair value hierarchy are described below: Level 1 – Unadjusted quoted prices in active markets for identical, unrestricted assets or liabilities that the Fund has the ability to access at the measurement date; Level 2 – Quoted prices which are not active, or inputs that are observable (either directly or indirectly) for substantially the full term of the asset or liability; and Level 3 – Prices, inputs or exotic modeling techniques which are both significant to the fair value measurement and unobservable (supported by little or no market activity). In some instances, the inputs used to measure fair value might fall within different levels of the fair value hierarchy. The level in the fair value hierarchy within which the fair value measurement in its entirety falls shall be determined based on the lowest input level that is significant to the fair value measurement in its entirety. The following table summarized the valuation of investments at June 30, 2018 using the fair value hierarchy: U.S. Equity Cumulative Dividends Fund─Series 2027 June 30, 2018 (Unaudited) Investments in Securities Level 1 Level 2 Level 3 Total U.S. Treasury Obligations $ - $ 5,220,467 $ - $ 5,220,467 Total Investments in Securities $ - $ 5,220,467 $ - $ 5,220,467 Other Financial Instruments Level 1 Level 2 Level 3 Total Futures Contracts* Unrealized Appreciation $ (30,113 ) $ - $ - $ (30,113 ) Total Other Financial Instruments $ (30,113 ) $ - $ - $ (30,113 ) U.S. Equity Ex-Dividend Fund─Series 2027* June 30, 2018 (Unaudited) Investments in Securities Level 1 Level 2 Level 3 Total U.S. Treasury Obligations $ - $ 13,186,431 $ - $ 13,186,431 Total Investments in Securities $ - $ 13,186,431 $ - $ 13,186,431 Other Financial Instruments Level 1 Level 2 Level 3 Total Futures Contracts* Unrealized Depreciation $ (341,514 ) $ - $ - $ (341,514 ) Total Other Financial Instruments $ (341,514 ) $ - $ - $ (341,514 ) * Futures contracts are valued at unrealized appreciation (depreciation) on the instrument. For the period ended June 30, 2018, there have been no transfers between Level 1, Level 2, or Level 3 investments. It is the Funds’ policy to recognize transfers into and out of Level 1, Level 2 and Level 3 at the end of the reporting period. For the period ended June 30, 2018, there were no Level 3 investments Amounts designated as “-” are $0. The inputs or methodology used for valuing investments are not necessarily an indication of the risk associated with investing in those securities. Investment Transactions and Related Income Investment transactions are recorded on trade date. Dividend income is recorded on the ex-dividend date. Interest income, which includes amortization of premium and accretion of discount, is recorded on an accrual basis. Realized gains and losses from securities transactions and unrealized appreciation and depreciation of securities are recorded on the effective interest method using the identified cost basis for financial reporting. Trading and Transaction Costs and Fees Each Fund will pay (or will reimburse the Clearing FCM if previously paid) any other transaction costs and fees associated with trading of the Fund’s instruments (including floor brokerage, exchange, clearing, give-up, user and NFA fees) that are not related to the creation and redemption of Baskets. Income Taxes Each Fund is a series of a Delaware statutory trust and will be treated as a partnership for U.S. federal income tax purposes. Accordingly, no Fund expects to incur U.S federal income tax; rather each beneficial owner of Shares will be required to take into account its allocable share of the Fund’s income, gain, loss deductions and other items for the Fund’s taxable year ending with or within the beneficial owner’s taxable year. The Funds file an income tax return in the US federal jurisdiction and may file income tax returns in various US states and foreign jurisdictions. Generally, the Funds are subject to income tax examinations by federal, state and local jurisdictions, where applicable. The Funds are required to determine whether their tax positions are more likely than not to be sustained upon examination by the applicable taxing authority based on the technical merits of the position. Tax positions not deemed more-likely-than-not threshold would be recorded as a tax expense in the current year. At June 30, 2018, the Funds had no unrecognized tax benefits related to their tax positions. The Funds do not expect that their assessments related to unrecognized tax benefits will materially change over the next 12 months. However, the Funds’ conclusions may be subject to review and adjustment at a later date based on factors including, but not limited to, the nexus of income among various tax jurisdictions; compliance with US federal US state and foreign tax laws; and changes in the administrative practices and precedents of the relevant taxing authorities. The Funds’ policy is to classify interest and penalties associated with the failure to file federal and state income tax returns, as income tax expenses on their Statements of Operations. For the period January 17, 2018 (commencement of operations) through June 30, 2018, the Funds did not have any interest or penalties associated with the failure to file any income tax returns. Distribution Policy The Dividend Fund expects to pay monthly cash distributions to its Shareholders throughout each calendar year. Such distributions shall, on an annual basis, before fees and expenses, equal all or a substantial portion of the Dividend Fund’s NAV attributable to the ordinary cash dividends accumulated by the Dividend Points Index for the year (as reflected in the current year’s S&P 500 Dividend Futures Contracts held by the Dividend Fund). Such distributions may consist of ordinary income, capital gains and/or return of capital whose character will be determined at fiscal year-end once final year-end figures have been calculated. The Dividend Fund’s capital gains, if any, for a calendar year may include any net unrealized appreciation in its futures contracts that expire in future calendar years. The Ex-Dividend Fund does not anticipate making any periodic distributions.

Investments

Investments	5 Months Ended
	Jun. 30, 2018
Investments [Abstract]
INVESTMENTS	NOTE 3 – INVESTMENTS The Dividend Fund seeks investment results that, before fees and expenses, correspond to the performance of the Solactive® U.S. Cumulative Dividends Index—Series 2027 (the “Solactive Dividend Index”) over each calendar year so as to provide Shareholders with returns designed to replicate the dividends on constituent companies of the S&P 500, without exposure to the underlying securities. The Dividend Fund intends primarily to invest its assets in the component instruments of the Solactive Dividend Index, as well as in cash and/or cash equivalents. The component instruments of the Solactive Dividend Index consist of U.S. Treasury Securities (“Treasury Securities”) and long positions in annual futures contracts listed on the Chicago Mercantile Exchange (“CME”) that provide exposure to dividends paid on the S&P 500 constituent companies (“S&P 500 Dividend Futures Contracts”) pro rata for each year of the life of the Dividend Fund. The Ex-Dividend Fund seeks investment results that, before fees and expenses, correspond to the performance of the Solactive® U.S. Equity Ex-Dividends Index—Series 2027 (the “Solactive Ex-Dividend Index”). The Ex-Dividend Fund seeks to track the Solactive Ex-Dividend Index so as to provide Shareholders with returns that are equivalent to the performance of 0.25 shares of SPDR S&P 500 ETF (“SPY”) less the value of current and future expected ordinary cash dividends to be paid on the S&P 500 constituent companies over the term of the Ex-Dividend Fund. SPY is an ETF that seeks to track the S&P 500. The Ex-Dividend Fund seeks to replicate the performance of SPY through owning long positions in quarterly S&P 500 Index futures contracts traded on the CME (“S&P 500 Index Futures Contracts”) rather than shares of SPY. Additionally, the Ex-Dividend Fund intends to track the performance of the Solactive Ex-Dividend Index by selling S&P 500 Dividend Futures Contracts. The Ex-Dividend Fund will also hold Treasury Securities, cash and/or cash equivalents. Short-Term Investments The Funds may purchase U.S. Treasury Bills, cash and or cash equivalents. Additionally, the Funds may enter into short-term loans and reverse repurchase agreements for liquidity purposes. There were not short-term loans or reverse repurchase agreements held in the Funds as of and during the period ended June 30, 2018. Accounting for Derivative Instruments All open derivative positions at period end are reflected on each respective Fund’s Schedule of Investments. The ETFs utilized a varying level of derivative instruments in conjunction with investment securities in seeking to meet their investment objective during the period. While the volume of open positions may vary on a daily basis as each Fund transacts derivatives contracts in order to achieve the appropriate exposure to meet its investment objective, the volume of these open positions relative to the net assets of each respective Fund at the date of this report is generally representative of open positions throughout the reporting period. Following is a description of the derivative instruments used by the ETFs during the reporting period, including the primary underlying risk exposures related to each instrument type. Futures Contracts The ETFs enter into futures contracts to gain exposure to changes in the value of, or as a substitute for investing directly in (or shorting), an underlying index, currency or commodity, as set forth above. A futures contract obligates the seller to deliver (and the purchaser to accept) the future delivery of a specified quantity and type of asset at a specified time and place. The contractual obligations of a buyer or seller may generally be satisfied by taking or making physical delivery of the underlying commodity, if applicable, or by making an offsetting sale or purchase of an identical futures contract on the same or linked exchange before the designated date of delivery, or by cash settlement at expiration of contract. Upon entering into a futures contract, each Fund is required to deposit and maintain as collateral at least such initial margin as required by the exchange on which the transaction is affected. The initial margin is segregated as cash and/or securities balances with brokers for futures contracts, as disclosed in the Statements of Financial Condition and Schedules of Investments, and is restricted as to its use. The ETFs that enter into futures contracts maintain collateral at the broker in the form of cash and/or securities. Pursuant to the futures contract, each Fund generally agrees to receive from or pay to the broker(s) an amount of cash equal to the daily fluctuation in value of the futures contract. Such receipts or payments are known as variation margin and are recorded by each Fund as unrealized gains or losses. Each Fund will realize a gain or loss upon closing of a futures transaction. Futures contracts involve, to varying degrees, elements of market risk (specifically commodity price risk or equity market volatility risk) and exposure to loss in excess of the amount of variation margin. The face or contract amounts reflect the extent of the total exposure each Fund has in the particular classes of instruments. Additional risks associated with the use of futures contracts are imperfect correlation between movements in the price of the futures contracts and the market value of the underlying index or commodity and the possibility of an illiquid market for a futures contract. With futures contracts, there is minimal but some counterparty risk to the ETFs since futures contracts are exchange-traded and the exchange’s clearinghouse, as counterparty to all exchange-traded futures contracts, guarantees the futures contracts against default. Many futures exchanges and boards of trade limit the amount of fluctuation permitted in futures contract prices during a single trading day. Once the daily limit has been reached in a particular contract, no trades may be made that day at a price beyond that limit or trading may be suspended for specified times during the trading day. Futures contracts prices could move to the limit for several consecutive trading days with little or no trading, thereby preventing prompt liquidation of futures positions and potentially subjecting a Fund to substantial losses. If trading is not possible, or if a Fund determines not to close a futures position in anticipation of adverse price movements, the Fund will be required to make daily cash payments of variation margin. The risk that the Fund will be unable to close out a futures position will be minimized by entering into such transactions on a national exchange with an active and liquid secondary market. The Funds held futures equity contracts as of and for the three-month period ended June 30, 2018. The value and detail of these contracts are disclosed on their respective Schedule of Investments. The corresponding gains and losses associated with these contracts are disclosed on the respective Statement of Operations. The Funds held futures equity contracts for the period February 5, 2018 (commencement of investment operations) to June 30, 2018. The corresponding gains and losses associated with those contracts are disclosed on each Fund’s respective Statement of Operations. Offsetting Assets and Liabilities The Futures Account Agreement includes provisions permitting the Clearing FCM to net and set off its obligations to the Fund against the obligations of the Fund to the Clearing FCM upon the termination of the agreement or occurrence of an Event of Default, as defined in the agreement. As described above, the Funds utilize derivative instruments to pursue their investment objective during the year. The amounts shown in the Statements of Financial Condition do not take into consideration the effects of legally enforceable master netting agreements or similar arrangements. For financial reporting purposes, the Funds do not offset derivative assets and derivative liabilities that are subject to netting arrangements in the Statements of Financial Condition. The following table presents each Fund’s derivatives by investment type and by counterparty net of amounts available for offset under a master netting agreement and the related collateral received or pledged by the Funds as of June 30, 2018. U.S. Equity Ex-Dividends Fund Series 2027 Offsetting of Derivative Assets Gross Amounts Gross Amounts Offset in the Consolidated Statements Net Amounts Presented in the Consolidated Statements Gross Amounts Not Offset in the Consolidated Statements of Assets and Liabilities of Recognized Assets of Assets and Liabilities of Assets and Liabilities Financial Instruments(a) Cash Collateral Net Amount Derivative Assets Futures Contracts $ 21,875 $ - $ 21,875 $ - $ 21,875 Total $ 21,875 $ - $ 21,875 $ - $ - $ 21,875 Offsetting of Derivative Liabilities Gross Amounts Gross Amounts Offset in the Consolidated Statements Net Amounts Presented in the Consolidated Statements Gross Amounts Not Offset in the Consolidated Statements of Assets and Liabilities of Recognized Liabilities of Assets and Liabilities of Assets and Liabilities Financial Cash Collateral Net Amount Derivative Liabilities Futures Contracts $ - $ - $ - $ - Total $ - $ - $ - $ - $ - $ - (a) These amounts are limited to the derivatives asset/liability balance and, accordingly, do not include excess collateral received/pledged. U.S. Equity Cumulative Dividends Fund Series 2027 Offsetting of Derivative Assets Gross Amounts Gross Amounts Offset in the Consolidated Statements Net Amounts Presented in the Consolidated Statements Gross Amounts Not Offset in the Consolidated Statements of Assets and Liabilities of Recognized Assets of Assets and Liabilities of Assets and Liabilities Financial Instruments(a) Cash Collateral Net Amount Derivative Assets Futures Contracts $ - $ - $ - $ - Total $ - $ - $ - $ - $ - $ - Offsetting of Derivative Liabilities Gross Amounts Gross Amounts Offset in the Consolidated Statements Net Amounts Presented in the Consolidated Statements Gross Amounts Not Offset in the Consolidated Statements of Assets and Liabilities of Recognized of Assets and Liabilities of Assets and Liabilities Financial Cash Collateral Net Amount Derivative Liabilities Futures Contracts $ (14,000 ) $ - $ (14,000.00 ) $ - $ 14,000 $ - Total $ (14,000 ) $ - $ (14,000.00 ) $ - $ 14,000 $ - (a) These amounts are limited to the derivatives asset/liability balance and, accordingly, do not include excess collateral received/pledged.

Agreements

Agreements	5 Months Ended
	Jun. 30, 2018
Agreements [Abstract]
AGREEMENTS	NOTE 4 – AGREEMENTS Sponsor The Sponsor has entered into an agreement (the “Reimbursement Agreement”) with the Funds to reimburse the Sponsor for amounts provided to the Funds to pay for the fees to register the offering of the Shares with the Securities and Exchange Commission. The amount due to Metaurus Advisors LLC, as disclosed on the Statements of Financial Condition, will be repaid over a maximum ten-year period. The amount reimbursed to the Sponsor by a Fund over a given calendar year will vary depending on the number of Shares issued by the Fund during such year. The Reimbursement Agreement contains a prepayment provision where upon issuance of any shares of the Funds, the prorated portion of the amount due based on the percentage of shares issued to the percentage of the overall shares registered is due within 90 days of the share issuance date. In addition, should the Funds terminate prior to the full repayment of the amount due, the Sponsor has agreed to forfeit the unpaid amount. There is no interest charged on the amounts due and no amounts have been paid to date. Each Fund pays its periodic professional expenses, including, but not limited to the fees of the Trustee, continuous offering expenses, legal, audit, tax, accounting, performance, administrative, filing, reporting and data processing fees and expenses and other operating expenses. For each Fund, the Sponsor has agreed to pay any professional expenses of each Fund in excess of $150,000 in each of 2018 and 2019. The Funds are responsible for any extraordinary expenses and liabilities. Each Fund pays its printing and mailing expenses. While The Funds have not incurred professional expenses in excess of $150,000 through June 30, 2018, the Sponsor has elected to voluntarily reimburse certain expenses beginning on May 1, 2018 totaling $33,250 and $18,868 for the Dividend Fund and Ex-Dividend Fund, respectively. The Sponsor’s voluntary reimbursement of such expenses may be modified or terminated at any time at the option of the sponsor. Administrator, Custodian, Fund Accountant and Transfer Agent SEI Investments Global Fund Services, Inc. (the “Administrator”) serves as the Funds’ Administrator pursuant to an administration agreement. Brown Brothers Harriman & Co. (the “Custodian”) serves as the Funds’ custodian and transfer agent pursuant to a custodian and transfer agent agreement. Clearing FCM Morgan Stanley & Co. LLC (“MS&Co.” or the “Clearing FCM”) serves as the Fund’s Clearing FCM pursuant to the terms of a commodity futures customer agreement among the Sponsor, on behalf of the Funds, severally and not jointly, and the Clearing FCM (the “Futures Account Agreement”). As Clearing FCM, MS&Co. serves as the Funds’ clearing broker and as such arranges for the execution and clearing of the Funds’ futures transactions. As such, MS&Co. holds, on behalf of the Funds, positions in futures contracts and Treasury Securities, cash and cash equivalents as futures margin. Treasury Securities, cash and cash equivalents not held as futures margin will be held by the Custodian. The Funds may engage additional and/or other futures commission merchants in the future. Distribution Agreement SEI Investments Distribution Co., a wholly-owned subsidiary of SEI Investments and an affiliate of the Administrator, serves as the Funds’ distributor of Baskets pursuant to a distribution agreement. The Distributor does not maintain any secondary market in the Shares. Management Fee/Advisory Fee The Management Fee is paid in consideration of the Sponsor’s services as sponsor, commodity pool operator, commodity trading advisor, and for managing the business and affairs of the Funds. The Sponsor supervises and directs the investment of the assets of the Funds in accordance with the Funds’ investment objectives and investment strategies outlined in the Funds’ prospectus. The Dividend Fund will pay the Sponsor a Management Fee equal to 0.58% per year of the Dividend Fund’s average daily NAV, calculated and payable monthly, subject to a minimum monthly fee of $0.005 per Share. This minimum monthly fee is expected to apply when the Dividend Fund’s average daily NAV for such month is less than $10.34 per Share. The Ex-Dividend Fund will pay the Sponsor a Management Fee equal to 0.29% per year of the Ex-Dividend Fund’s average daily NAV, calculated and payable monthly.

Offering and Organizational Cos

Offering and Organizational Costs	5 Months Ended
	Jun. 30, 2018
Offering and Organizational Costs [Abstract]
OFFERING AND ORGANIZATIONAL COSTS	NOTE 5 – OFFERING AND ORGANIZATIONAL COSTS The Sponsor paid all necessary and reasonable expenses and liabilities incurred in connection with the organization of the Funds and proposed initial public offering of the Shares. Each Fund will reimburse the Sponsor for registration fees paid to the SEC in connection with the registration of the Fund’s Shares, which is represented on the Statements of Financial Position as Due to Metaurus Advisors LLC. Such amounts will be reimbursed over the term of the Fund without interest. The reimbursement amount may vary from year to year based on the amount of Shares issued during a year. Deferred offering costs consist of fees paid in relation to legal, accounting, regulatory and work completed in preparation of equity offerings. Deferred offering costs are charged against the proceeds from equity offerings when received. As of June 30, 2018, deferred offering costs for each Fund, which are included on the Statements of Financial Condition, were $123,816 for the Dividends Fund and $122,989 for the Ex-Dividend Fund.

Creation and Redemption of Crea

Creation and Redemption of Creation Units	5 Months Ended
	Jun. 30, 2018
Creation and Redemption of Creation Units [Abstract]
CREATION AND REDEMPTION OF CREATION UNITS	NOTE 6 – CREATION AND REDEMPTION OF CREATION UNITS The Funds issue and redeem Shares on a continuous basis at NAV in one or more large blocks of 50,000 Shares called Baskets. Each Fund intends to create and redeem Baskets primarily through exchange for related position (“EFRP”) transactions. In certain instances, the Funds may effect creations and redemptions partly or wholly for cash, rather than through an EFRP transaction. The manner by which redemptions are made is dictated by the terms of the respective authorized participant agreement between an Authorized Participant and the Trust (“Authorized Participant Agreement”). Except when aggregated in Baskets, Shares are not redeemable securities of a Fund. Shares of the Funds may be purchased or redeemed only by Authorized Participants. An Authorized Participant is an institution that (i) is a broker-dealer; (ii) is a registered futures commission merchant and/or clears through a registered futures commission merchant; (iii) is a Depository Trust Company Participant and a member of the National Securities Clearing Corporation; (iv) has entered into an Authorized Participant agreement with the Trust; and (v) is in a position to transfer the required Deposit Instruments and/or the cash to buy and sell whole Baskets. Investors will purchase Shares in the secondary market, generally with the assistance of a broker or investment advisor and will be subject to customary brokerage commissions, mark ups and mark downs and fees. Authorized Participants will pay a transaction fee per Basket equal to $500.00. In addition, to the extent that cash is delivered or received in lieu of any of the Deposit Instruments upon the creation or redemption of Shares by an Authorized Participant, such Authorized Participants will pay an additional variable charge up to 2% of the cash that is delivered or received in lieu of any of the Deposit Instruments to a Fund to pay for any additional transaction costs and fees and price changes associated with the purchase or disposition of any of the Deposit Instruments.

Financial Highlights

Financial Highlights	5 Months Ended
	Jun. 30, 2018
Financial Highlights [Abstract]
FINANCIAL HIGHLIGHTS	NOTE 7 – FINANCIAL HIGHLIGHTS Selected data for a Share outstanding throughout the three months ended June 30, 2018: Financial Highlights For the Period from April 1, 2018 to June 30, 2018 (Unaudited) Ratio of Net Expenses Ratio of Net Realized Distributions Net Assets Ratio of to Average Investment NAV Net and Total from Net NAV End of Expenses Net Assets Income/Loss Beginning Investment Unrealized from Investment Total End of Total Market Period to Average (Excluding to Average Portfolio of Period Income/Loss* Gain/Loss Operations Income Distributions Period Return (1) Price (000) Net Assets (3) Waivers) (3) Net Assets (3) Turnover (2) U.S. Equity Cumulative Dividends Fund─Series 2027 * 2018 $ 13.87 $ 0.03 $ (0.40 ) $ (0.38 ) $ (0.29 ) $ (0.29 ) $ 13.20 -2.73 % $ 13.27 $ 5,278 1.77 % 5.14 % 0.76 % 3 % U.S. Equity Ex-Dividend Fund─Series 2027 * 2018 $ 51.90 $ 0.06 $ 2.18 $ 2.24 $ - $ - $ 54.14 4.32 % $ 54.00 $ 13,535 1.25 % 1.81 % 0.47 % 0 % * Per share data calculated using average shares method. (1) Total return is for the period indicated and has not been annualized. (2) Portfolio turnover rate is for the period indicated and has not been annualized. (3) Annualized Amounts designated as “-” are $0. Financial Highlights Selected data for a Share outstanding for the Period from January 17, 2018 to June 30, 2018 (Unaudited) Ratio of Net Expenses Ratio of Net Realized Distributions Net Assets Ratio of to Average Investment NAV Net and Total from Net NAV End of Expenses Net Assets Income/Loss Beginning Investment Unrealized from Investment Total End of Total Market Period to Average (Excluding to Average Portfolio of Period Income/Loss* Gain/Loss Operations Income Distributions Period Return (1) Price (000) Net Assets (4) Waivers) (4) Net Assets (4) Turnover (2) U.S. Equity Cumulative Dividends Fund─Series 2027 * 2018 (3) $ 13.73 $ 0.01 $ (0.09 ) $ (0.08 ) $ (0.45 ) $ (0.45 ) $ 13.20 -0.60 % $ 13.27 $ 5,278 2.43 % 4.74 % 0.10 % 6 % U.S. Equity Ex-Dividend Fund─Series 2027 * 2018 (3) $ 51.48 $ 0.08 $ 2.58 $ 2.66 $ - $ - $ 54.14 5.17 % $ 54.00 $ 13,535 1.26 % 1.63 % 0.37 % 0 % * Per share data calculated using average shares method. (1) Total return is for the period indicated and has not been annualized. (2) Portfolio turnover rate is for the period indicated and has not been annualized. (3) From commencement of operations, January 17, 2018 through June 30, 2018. (4) Annualized Amounts designated as “-” are $0.

Risk

Risk	5 Months Ended
	Jun. 30, 2018
Risk [Abstract]
RISK	NOTE 8 – RISK Principal Risks A shareholder of the Funds is subject to the risk that his or her investment could lose money. The Funds are subject to the principal risks noted below, any of which may adversely affect a Fund’s NAV, trading price, yield, total return and ability to meet its investment objective. A more complete description of principal risks is included in the prospectus under the heading “Principal Risks”. This could result in the Funds’ underperformance compared to other funds with similar investment objectives. Market Trading Risks Individual Shares may be purchased and sold only on a national securities exchange, an alternative trading system, or in the over-the-counter market and may not be directly purchased or redeemed from the Funds. There can be no guarantee that an active trading market for Shares will develop or be maintained, or that the listing of the Shares will continue unchanged. Buying and selling Shares may require you to pay brokerage commissions and expose you to other trading costs. Due to brokerage commissions and other transaction costs that may apply, frequent trading may detract from realized investment returns. Trading prices of Shares may be above, at or below the Funds’ NAV, will fluctuate in relation to NAV based on supply and demand in the market for Shares and other factors, and may vary significantly from NAV during periods of market volatility. The return on an investor’s investment will be reduced when the investor sells Shares at a discount or buys Shares at a premium to NAV. Contingent Pricing Risks Creation and redemption prices of Baskets are directly linked to the Funds’ next-computed NAV, which is normally determined as of (the close of regular market trading / 4:00 p.m. Eastern Time) each business day. Buyers and sellers of Shares will not know the value of their purchases and sales until the Funds’ NAV is determined at the end of the trading day. Like mutual funds, the Funds do not offer opportunities to purchase or redeem Baskets intraday at currently determined (as opposed to end-of-day) prices. Creation and redemption prices of Baskets are contingent upon the determination of NAV and may vary significantly from anticipated levels (including estimates based on intraday indicative values disseminated by the Funds) during periods of market volatility. Although limit orders can be used to restrict differences between prices of the Shares in the secondary market and NAV (i.e., premiums and discounts to NAV), they cannot be used to control or limit absolute trade execution prices. However, unlike shares of mutual funds, Shares will trade on NYSE Arca, Inc. during the day at market-determined prices. The Funds will disseminate an indicative NAV every 15 seconds during the trading day. Cash Transactions Risk Each Fund intends to create and redeem Baskets primarily through EFRP transactions. In certain instances, the Funds may effect creations and redemptions partly or wholly for cash, rather than through an EFRP transaction. Because the Funds may effect redemptions for cash, rather than through an EFRP transaction, they may be required to sell Deposit Instruments in order to obtain the cash needed to distribute redemption proceeds, and they may subsequently recognize gains on such sales. As a result, an investment in Shares redeemed partially or wholly for cash may be less tax-efficient than if the Shares were redeemed through an EFRP transaction which generally will not trigger any tax consequences to Shareholders. Moreover, cash transactions may have to be carried out over several days if the market for any of the Deposit Instruments is relatively illiquid and may involve considerable brokerage fees and taxes. These brokerage fees and taxes, which generally are expected to be higher than if the Basket was created or redeemed through an EFRP transaction, may be passed on to purchasers and redeemers of Baskets in the form of creation and redemption transaction fees. In addition, these factors may result in wider spreads between the bid and the offered prices of the Shares. Authorized Participant Concentration Risk Only an Authorized Participant may engage in creation or redemption transactions directly with the Funds. The Funds may have relationships with a limited number of institutions that act as Authorized Participants. To the extent these institutions exit the business or are unable or unwilling to proceed with creation and/or redemption orders with respect to the Funds and no other Authorized Participant is able to step forward to create or redeem Baskets, Shares of the Funds may trade at a discount to NAV and possibly face trading halts and/or delisting. Guarantees and Indemnifications In the normal course of business, the Funds enter into contracts with third-party service providers that contain a variety of representations and warranties and that provide general indemnifications. Additionally, under the Funds’ organizational documents, the Sponsor, Wilmington Trust, N.A., a national banking association and the trustee of the Trust, and their officers and affiliates are indemnified against certain liabilities arising out of the performance of their duties to the Funds. The Funds’ maximum exposure under these arrangements is unknown, as it involves possible future claims that may or may not be made against the Funds. Based on experience, the Sponsor is of the view that the risk of loss to the Funds in connection with the Funds’ indemnification obligations is remote; however, there can be no assurance that such obligations will not result in material liabilities that adversely affect the Funds.

Subsequent Events

Subsequent Events	5 Months Ended
	Jun. 30, 2018
Subsequent Events [Abstract]
SUBSEQUENT EVENTS	NOTE 9 – SUBSEQUENT EVENTS In preparing these financial statements, management has evaluated events and transactions for potential recognition or disclosure through the date the financial statements were issued. Management has determined that there are no material events, except as set forth above that would require disclosure in the Funds’ financial statements through this date.

Summary of Significant Accoun19

Summary of Significant Accounting Policies (Policies)	5 Months Ended
	Jun. 30, 2018
Summary of Significant Accounting Policies [Abstract]
Basis of Presentation, Use of Estimates & Indemnifications	Basis of Presentation, Use of Estimates & Indemnifications The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosures of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. In the normal course of business, the Trust enters into contracts that contain a variety of representations which provide general indemnifications. The Trust’s maximum exposure under these arrangements cannot be known; however, the Trust expects any risk of loss to be remote.
Concentration of Credit Risk	Concentration of Credit Risk Credit risk is the risk that a financial loss will be incurred if a Fund’s counterparty does not fulfil its financial obligations in a timely manner. Financial instruments that potentially subject the Funds to concentrations of credit risk consist principally of investments and cash deposits. Investments and cash of each Fund at June 30, 2018 are held at Brown Brothers, Harriman & Co., Morgan Stanley & Co. LLC, and First Republic Bank.
Final Net Asset Value for Fiscal Period	Final Net Asset Value for Fiscal Period The net asset value (“NAV”) per Share for a Fund is determined by dividing the net assets of the Fund by the number of outstanding Shares. The NAVs of the ETFs is determined as soon as practicable after the close of regular trading of the Shares on the NYSE Arca (normally 4:00 P.M. ET) on each Business Day. Each Fund’s net assets on a Business Day is obtained by subtracting accrued expenses and other liabilities borne by such Fund, if any, from the total value of the assets held by the Fund, in each case, as of the time of calculation. The Administrator of the ETFs is responsible for making these determinations.
FAIR VALUE OF FINANCIAL INSTRUMENTS	FAIR VALUE OF FINANCIAL INSTRUMENTS Security Valuation — Securities listed on a securities exchange, market or automated quotation system for which quotations are readily available (except for securities traded on NASDAQ), including securities traded over the counter, are valued at the last quoted sale price on the primary exchange or market (foreign or domestic) on which they are traded (or at approximately 4:00 pm Eastern Time if a security’s primary exchange is normally open at that time), or, if there is no such reported sale, at the most recent quoted bid for long positions and the most recent ask price for short positions. For securities traded on NASDAQ, the NASDAQ Official Closing Price will be used. If available, debt securities are priced based upon valuations provided by independent, third-party pricing agents. Such values generally reflect the last reported sales price if the security is actively traded. The third-party pricing agents may also value debt securities at an evaluated bid price by employing methodologies that utilize actual market transactions, broker-supplied valuations, or other methodologies designed to identify the fair value for such securities. Debt obligations with remaining maturities of sixty days or less when acquired will be valued at their market value. If a market value is not available from a pricing vendor or from an independent broker, the security shall be fair valued according to the Trust’s Fair Value Procedures. Prices for most securities held in the Funds are provided daily by recognized independent pricing agents. If a security price cannot be obtained from an independent, third-party pricing agent, the Funds seek to obtain a bid price from at least one independent broker. Securities for which market prices are not “readily available” are valued in accordance with Fair Value Procedures established by the Sponsor or a committee of its personnel thereof. Some of the more common reasons that may necessitate that a security be valued using Fair Value Procedures include: the security’s trading has been halted or suspended; the security has been de-listed from a national exchange; the security’s primary trading market is temporarily closed at a time when under normal conditions it would be open; the security has not been traded for an extended period of time; the security’s primary pricing source is not able or willing to provide a price; or trading of the security is subject to local government-imposed restrictions. In addition, the Funds may fair value their securities if an event that may materially affect the value of a Fund’s securities that traded outside of the United States (a “Significant Event”) has occurred between the time of the security’s last close and the time that the Fund calculates its net asset value. A Significant Event may relate to a single issuer or to an entire market sector. Events that may be Significant Events include: government actions, natural disasters, armed conflict, acts of terrorism and significant market fluctuations. If the Adviser becomes aware of a Significant Event that has occurred with respect to a security or group of securities after the closing of the exchange or market on which the security or securities principally trade, but before the time at which the Fund calculates its net asset value, it may request that a valuation meeting be called. When a security is valued in accordance with the Fair Value Procedures, the Sponsor or its designees will determine the fair value after taking into consideration relevant information reasonably available to it. In accordance with the authoritative guidance on fair value measurements and disclosure under U.S.GAAP, the Funds disclose fair value of their investments in a hierarchy that prioritizes the inputs to valuation techniques used to measure the fair value. The objective of a fair value measurement is to determine the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date (an exit price). Accordingly, the fair value hierarchy gives the highest priority to quoted prices (unadjusted) in active markets for identical assets or liabilities (Level 1) and the lowest priority to unobservable inputs (Level 3).The three levels of the fair value hierarchy are described below: Level 1 – Unadjusted quoted prices in active markets for identical, unrestricted assets or liabilities that the Fund has the ability to access at the measurement date; Level 2 – Quoted prices which are not active, or inputs that are observable (either directly or indirectly) for substantially the full term of the asset or liability; and Level 3 – Prices, inputs or exotic modeling techniques which are both significant to the fair value measurement and unobservable (supported by little or no market activity). In some instances, the inputs used to measure fair value might fall within different levels of the fair value hierarchy. The level in the fair value hierarchy within which the fair value measurement in its entirety falls shall be determined based on the lowest input level that is significant to the fair value measurement in its entirety. The following table summarized the valuation of investments at June 30, 2018 using the fair value hierarchy: U.S. Equity Cumulative Dividends Fund─Series 2027 June 30, 2018 (Unaudited) Investments in Securities Level 1 Level 2 Level 3 Total U.S. Treasury Obligations $ - $ 5,220,467 $ - $ 5,220,467 Total Investments in Securities $ - $ 5,220,467 $ - $ 5,220,467 Other Financial Instruments Level 1 Level 2 Level 3 Total Futures Contracts* Unrealized Appreciation $ (30,113 ) $ - $ - $ (30,113 ) Total Other Financial Instruments $ (30,113 ) $ - $ - $ (30,113 ) U.S. Equity Ex-Dividend Fund─Series 2027* June 30, 2018 (Unaudited) Investments in Securities Level 1 Level 2 Level 3 Total U.S. Treasury Obligations $ - $ 13,186,431 $ - $ 13,186,431 Total Investments in Securities $ - $ 13,186,431 $ - $ 13,186,431 Other Financial Instruments Level 1 Level 2 Level 3 Total Futures Contracts* Unrealized Depreciation $ (341,514 ) $ - $ - $ (341,514 ) Total Other Financial Instruments $ (341,514 ) $ - $ - $ (341,514 ) * Futures contracts are valued at unrealized appreciation (depreciation) on the instrument. For the period ended June 30, 2018, there have been no transfers between Level 1, Level 2, or Level 3 investments. It is the Funds’ policy to recognize transfers into and out of Level 1, Level 2 and Level 3 at the end of the reporting period. For the period ended June 30, 2018, there were no Level 3 investments Amounts designated as “-” are $0. The inputs or methodology used for valuing investments are not necessarily an indication of the risk associated with investing in those securities.
Investment Transactions and Related Income	Investment Transactions and Related Income Investment transactions are recorded on trade date. Dividend income is recorded on the ex-dividend date. Interest income, which includes amortization of premium and accretion of discount, is recorded on an accrual basis. Realized gains and losses from securities transactions and unrealized appreciation and depreciation of securities are recorded on the effective interest method using the identified cost basis for financial reporting.
Trading and Transaction Costs and Fees	Trading and Transaction Costs and Fees Each Fund will pay (or will reimburse the Clearing FCM if previously paid) any other transaction costs and fees associated with trading of the Fund’s instruments (including floor brokerage, exchange, clearing, give-up, user and NFA fees) that are not related to the creation and redemption of Baskets.
Income Taxes	Income Taxes Each Fund is a series of a Delaware statutory trust and will be treated as a partnership for U.S. federal income tax purposes. Accordingly, no Fund expects to incur U.S federal income tax; rather each beneficial owner of Shares will be required to take into account its allocable share of the Fund’s income, gain, loss deductions and other items for the Fund’s taxable year ending with or within the beneficial owner’s taxable year. The Funds file an income tax return in the US federal jurisdiction and may file income tax returns in various US states and foreign jurisdictions. Generally, the Funds are subject to income tax examinations by federal, state and local jurisdictions, where applicable. The Funds are required to determine whether their tax positions are more likely than not to be sustained upon examination by the applicable taxing authority based on the technical merits of the position. Tax positions not deemed more-likely-than-not threshold would be recorded as a tax expense in the current year. At June 30, 2018, the Funds had no unrecognized tax benefits related to their tax positions. The Funds do not expect that their assessments related to unrecognized tax benefits will materially change over the next 12 months. However, the Funds’ conclusions may be subject to review and adjustment at a later date based on factors including, but not limited to, the nexus of income among various tax jurisdictions; compliance with US federal US state and foreign tax laws; and changes in the administrative practices and precedents of the relevant taxing authorities. The Funds’ policy is to classify interest and penalties associated with the failure to file federal and state income tax returns, as income tax expenses on their Statements of Operations. For the period January 17, 2018 (commencement of operations) through June 30, 2018, the Funds did not have any interest or penalties associated with the failure to file any income tax returns.
Distribution Policy	Distribution Policy The Dividend Fund expects to pay monthly cash distributions to its Shareholders throughout each calendar year. Such distributions shall, on an annual basis, before fees and expenses, equal all or a substantial portion of the Dividend Fund’s NAV attributable to the ordinary cash dividends accumulated by the Dividend Points Index for the year (as reflected in the current year’s S&P 500 Dividend Futures Contracts held by the Dividend Fund). Such distributions may consist of ordinary income, capital gains and/or return of capital whose character will be determined at fiscal year-end once final year-end figures have been calculated. The Dividend Fund’s capital gains, if any, for a calendar year may include any net unrealized appreciation in its futures contracts that expire in future calendar years. The Ex-Dividend Fund does not anticipate making any periodic distributions.

Summary of Significant Accoun20

Summary of Significant Accounting Policies (Tables)	5 Months Ended
	Jun. 30, 2018
Summary of Significant Accounting Policies [Abstract]
Summarized the valuation of investments using the fair value hierarchy	U.S. Equity Cumulative Dividends Fund─Series 2027 June 30, 2018 (Unaudited) Investments in Securities Level 1 Level 2 Level 3 Total U.S. Treasury Obligations $ - $ 5,220,467 $ - $ 5,220,467 Total Investments in Securities $ - $ 5,220,467 $ - $ 5,220,467 Other Financial Instruments Level 1 Level 2 Level 3 Total Futures Contracts* Unrealized Appreciation $ (30,113 ) $ - $ - $ (30,113 ) Total Other Financial Instruments $ (30,113 ) $ - $ - $ (30,113 ) U.S. Equity Ex-Dividend Fund─Series 2027* June 30, 2018 (Unaudited) Investments in Securities Level 1 Level 2 Level 3 Total U.S. Treasury Obligations $ - $ 13,186,431 $ - $ 13,186,431 Total Investments in Securities $ - $ 13,186,431 $ - $ 13,186,431 Other Financial Instruments Level 1 Level 2 Level 3 Total Futures Contracts* Unrealized Depreciation $ (341,514 ) $ - $ - $ (341,514 ) Total Other Financial Instruments $ (341,514 ) $ - $ - $ (341,514 ) * Futures contracts are valued at unrealized appreciation (depreciation) on the instrument.

Investments (Tables)

Investments (Tables)	5 Months Ended
	Jun. 30, 2018
Investments [Abstract]
Schedule of offsetting assets and liabilities	U.S. Equity Ex-Dividends Fund Series 2027 Offsetting of Derivative Assets Gross Amounts Gross Amounts Offset in the Consolidated Statements Net Amounts Presented in the Consolidated Statements Gross Amounts Not Offset in the Consolidated Statements of Assets and Liabilities of Recognized Assets of Assets and Liabilities of Assets and Liabilities Financial Instruments(a) Cash Collateral Net Amount Derivative Assets Futures Contracts $ 21,875 $ - $ 21,875 $ - $ 21,875 Total $ 21,875 $ - $ 21,875 $ - $ - $ 21,875 Offsetting of Derivative Liabilities Gross Amounts Gross Amounts Offset in the Consolidated Statements Net Amounts Presented in the Consolidated Statements Gross Amounts Not Offset in the Consolidated Statements of Assets and Liabilities of Recognized Liabilities of Assets and Liabilities of Assets and Liabilities Financial Cash Collateral Net Amount Derivative Liabilities Futures Contracts $ - $ - $ - $ - Total $ - $ - $ - $ - $ - $ - (a) These amounts are limited to the derivatives asset/liability balance and, accordingly, do not include excess collateral received/pledged. U.S. Equity Cumulative Dividends Fund Series 2027 Offsetting of Derivative Assets Gross Amounts Gross Amounts Offset in the Consolidated Statements Net Amounts Presented in the Consolidated Statements Gross Amounts Not Offset in the Consolidated Statements of Assets and Liabilities of Recognized Assets of Assets and Liabilities of Assets and Liabilities Financial Instruments(a) Cash Collateral Net Amount Derivative Assets Futures Contracts $ - $ - $ - $ - Total $ - $ - $ - $ - $ - $ - Offsetting of Derivative Liabilities Gross Amounts Gross Amounts Offset in the Consolidated Statements Net Amounts Presented in the Consolidated Statements Gross Amounts Not Offset in the Consolidated Statements of Assets and Liabilities of Recognized of Assets and Liabilities of Assets and Liabilities Financial Cash Collateral Net Amount Derivative Liabilities Futures Contracts $ (14,000 ) $ - $ (14,000.00 ) $ - $ 14,000 $ - Total $ (14,000 ) $ - $ (14,000.00 ) $ - $ 14,000 $ - (a) These amounts are limited to the derivatives asset/liability balance and, accordingly, do not include excess collateral received/pledged.

Financial Highlights (Tables)

Financial Highlights (Tables)	5 Months Ended
	Jun. 30, 2018
Financial Highlights [Abstract]
Schedule of financial highlights	For the Period from April 1, 2018 to June 30, 2018 (Unaudited) Ratio of Net Expenses Ratio of Net Realized Distributions Net Assets Ratio of to Average Investment NAV Net and Total from Net NAV End of Expenses Net Assets Income/Loss Beginning Investment Unrealized from Investment Total End of Total Market Period to Average (Excluding to Average Portfolio of Period Income/Loss* Gain/Loss Operations Income Distributions Period Return (1) Price (000) Net Assets (3) Waivers) (3) Net Assets (3) Turnover (2) U.S. Equity Cumulative Dividends Fund─Series 2027 * 2018 $ 13.87 $ 0.03 $ (0.40 ) $ (0.38 ) $ (0.29 ) $ (0.29 ) $ 13.20 -2.73 % $ 13.27 $ 5,278 1.77 % 5.14 % 0.76 % 3 % U.S. Equity Ex-Dividend Fund─Series 2027 * 2018 $ 51.90 $ 0.06 $ 2.18 $ 2.24 $ - $ - $ 54.14 4.32 % $ 54.00 $ 13,535 1.25 % 1.81 % 0.47 % 0 % * Per share data calculated using average shares method. (1) Total return is for the period indicated and has not been annualized. (2) Portfolio turnover rate is for the period indicated and has not been annualized. (3) Annualized Amounts designated as “-” are $0. Financial Highlights Selected data for a Share outstanding for the Period from January 17, 2018 to June 30, 2018 (Unaudited) Ratio of Net Expenses Ratio of Net Realized Distributions Net Assets Ratio of to Average Investment NAV Net and Total from Net NAV End of Expenses Net Assets Income/Loss Beginning Investment Unrealized from Investment Total End of Total Market Period to Average (Excluding to Average Portfolio of Period Income/Loss* Gain/Loss Operations Income Distributions Period Return (1) Price (000) Net Assets (4) Waivers) (4) Net Assets (4) Turnover (2) U.S. Equity Cumulative Dividends Fund─Series 2027 * 2018 (3) $ 13.73 $ 0.01 $ (0.09 ) $ (0.08 ) $ (0.45 ) $ (0.45 ) $ 13.20 -0.60 % $ 13.27 $ 5,278 2.43 % 4.74 % 0.10 % 6 % U.S. Equity Ex-Dividend Fund─Series 2027 * 2018 (3) $ 51.48 $ 0.08 $ 2.58 $ 2.66 $ - $ - $ 54.14 5.17 % $ 54.00 $ 13,535 1.26 % 1.63 % 0.37 % 0 % * Per share data calculated using average shares method. (1) Total return is for the period indicated and has not been annualized. (2) Portfolio turnover rate is for the period indicated and has not been annualized. (3) From commencement of operations, January 17, 2018 through June 30, 2018. (4) Annualized Amounts designated as “-” are $0.

Organization (Details)

Organization (Details) - USD ($)	1 Months Ended	5 Months Ended
	Dec. 22, 2017	Jun. 30, 2018
Organization (Textual)
Capital contribution by sponsor	$ 1,000
Sale of shares, description		The Fund will issue and redeem Shares on a continuous basis, through SEI Investments Distribution Co. (the "Distributor"), at net asset value ("NAV") per Share only in one or more large blocks of 50,000 Shares, called "Baskets". Baskets may be issued and redeemed for cash but are expected to be issued and redeemed principally through exchange for related positions ("EFRP") transactions for (i) futures contracts, Treasury securities and other financial instruments designed to track such Fund's underlying index ("Deposit Instruments") and (ii) a cash amount that includes a variable charge. Creation and redemption prices of Baskets are directly linked to a Fund's next computed NAV and will vary from NAV by a market-determined trading cost, which may be zero.

Summary of Significant Accoun24

Summary of Significant Accounting Policies (Details)	Jun. 30, 2018USD ($)
U.S. Equity Cumulative Dividends Fund-Series 2027 [Member]
Summary of Investment Holdings [Line Items]
Total Investments in Securities	$ 5,220,467
Total Other Financial Instruments	(30,113)
U.S. Equity Cumulative Dividends Fund-Series 2027 [Member] | Level 1 [Member]
Summary of Investment Holdings [Line Items]
Total Investments in Securities	0
Total Other Financial Instruments	(30,113)
U.S. Equity Cumulative Dividends Fund-Series 2027 [Member] | Level 2 [Member]
Summary of Investment Holdings [Line Items]
Total Investments in Securities	5,220,467
Total Other Financial Instruments	0
U.S. Equity Cumulative Dividends Fund-Series 2027 [Member] | Level 3 [Member]
Summary of Investment Holdings [Line Items]
Total Investments in Securities	0
Total Other Financial Instruments	0
U.S. Equity Cumulative Dividends Fund-Series 2027 [Member] | U.S. Treasury Obligations [Member]
Summary of Investment Holdings [Line Items]
Total Investments in Securities	5,220,467
U.S. Equity Cumulative Dividends Fund-Series 2027 [Member] | U.S. Treasury Obligations [Member] | Level 1 [Member]
Summary of Investment Holdings [Line Items]
Total Investments in Securities	0
U.S. Equity Cumulative Dividends Fund-Series 2027 [Member] | U.S. Treasury Obligations [Member] | Level 2 [Member]
Summary of Investment Holdings [Line Items]
Total Investments in Securities	5,220,467
U.S. Equity Cumulative Dividends Fund-Series 2027 [Member] | U.S. Treasury Obligations [Member] | Level 3 [Member]
Summary of Investment Holdings [Line Items]
Total Investments in Securities	0
U.S. Equity Cumulative Dividends Fund-Series 2027 [Member] | Futures Contracts [Member]
Summary of Investment Holdings [Line Items]
Total Other Financial Instruments	0	[1]
U.S. Equity Cumulative Dividends Fund-Series 2027 [Member] | Futures Contracts [Member] | Level 1 [Member]
Summary of Investment Holdings [Line Items]
Total Other Financial Instruments	0	[1]
U.S. Equity Cumulative Dividends Fund-Series 2027 [Member] | Futures Contracts [Member] | Level 2 [Member]
Summary of Investment Holdings [Line Items]
Total Other Financial Instruments	0	[1]
U.S. Equity Cumulative Dividends Fund-Series 2027 [Member] | Futures Contracts [Member] | Level 3 [Member]
Summary of Investment Holdings [Line Items]
Total Other Financial Instruments	0	[1]
U.S. Equity Cumulative Dividends Fund-Series 2027 [Member] | Unrealized Appreciation [Member]
Summary of Investment Holdings [Line Items]
Total Other Financial Instruments	(30,113)
U.S. Equity Cumulative Dividends Fund-Series 2027 [Member] | Unrealized Appreciation [Member] | Level 1 [Member]
Summary of Investment Holdings [Line Items]
Total Other Financial Instruments	(30,113)
U.S. Equity Cumulative Dividends Fund-Series 2027 [Member] | Unrealized Appreciation [Member] | Level 2 [Member]
Summary of Investment Holdings [Line Items]
Total Other Financial Instruments	0
U.S. Equity Cumulative Dividends Fund-Series 2027 [Member] | Unrealized Appreciation [Member] | Level 3 [Member]
Summary of Investment Holdings [Line Items]
Total Other Financial Instruments	0
U.S. Equity Ex-Dividend Fund-Series 2027 [Member]
Summary of Investment Holdings [Line Items]
Total Investments in Securities	13,186,431
Total Other Financial Instruments	(341,514)
U.S. Equity Ex-Dividend Fund-Series 2027 [Member] | Level 1 [Member]
Summary of Investment Holdings [Line Items]
Total Investments in Securities	0
Total Other Financial Instruments	(341,514)
U.S. Equity Ex-Dividend Fund-Series 2027 [Member] | Level 2 [Member]
Summary of Investment Holdings [Line Items]
Total Investments in Securities	13,186,431
Total Other Financial Instruments	0
U.S. Equity Ex-Dividend Fund-Series 2027 [Member] | Level 3 [Member]
Summary of Investment Holdings [Line Items]
Total Investments in Securities	0
Total Other Financial Instruments	0
U.S. Equity Ex-Dividend Fund-Series 2027 [Member] | U.S. Treasury Obligations [Member]
Summary of Investment Holdings [Line Items]
Total Investments in Securities	13,186,431
U.S. Equity Ex-Dividend Fund-Series 2027 [Member] | U.S. Treasury Obligations [Member] | Level 1 [Member]
Summary of Investment Holdings [Line Items]
Total Investments in Securities	0
U.S. Equity Ex-Dividend Fund-Series 2027 [Member] | U.S. Treasury Obligations [Member] | Level 2 [Member]
Summary of Investment Holdings [Line Items]
Total Investments in Securities	13,186,431
U.S. Equity Ex-Dividend Fund-Series 2027 [Member] | U.S. Treasury Obligations [Member] | Level 3 [Member]
Summary of Investment Holdings [Line Items]
Total Investments in Securities	0
U.S. Equity Ex-Dividend Fund-Series 2027 [Member] | Futures Contracts [Member]
Summary of Investment Holdings [Line Items]
Total Other Financial Instruments	0	[1]
U.S. Equity Ex-Dividend Fund-Series 2027 [Member] | Futures Contracts [Member] | Level 1 [Member]
Summary of Investment Holdings [Line Items]
Total Other Financial Instruments	0	[1]
U.S. Equity Ex-Dividend Fund-Series 2027 [Member] | Futures Contracts [Member] | Level 2 [Member]
Summary of Investment Holdings [Line Items]
Total Other Financial Instruments	0	[1]
U.S. Equity Ex-Dividend Fund-Series 2027 [Member] | Futures Contracts [Member] | Level 3 [Member]
Summary of Investment Holdings [Line Items]
Total Other Financial Instruments	0	[1]
U.S. Equity Ex-Dividend Fund-Series 2027 [Member] | Unrealized Depreciation [Member]
Summary of Investment Holdings [Line Items]
Total Other Financial Instruments	(341,514)
U.S. Equity Ex-Dividend Fund-Series 2027 [Member] | Unrealized Depreciation [Member] | Level 1 [Member]
Summary of Investment Holdings [Line Items]
Total Other Financial Instruments	(341,514)
U.S. Equity Ex-Dividend Fund-Series 2027 [Member] | Unrealized Depreciation [Member] | Level 2 [Member]
Summary of Investment Holdings [Line Items]
Total Other Financial Instruments	0
U.S. Equity Ex-Dividend Fund-Series 2027 [Member] | Unrealized Depreciation [Member] | Level 3 [Member]
Summary of Investment Holdings [Line Items]
Total Other Financial Instruments	$ 0
[1]	Futures contracts are valued at unrealized appreciation (depreciation) on the instrument.

Summary of Significant Accoun25

Summary of Significant Accounting Policies (Details Textual)	Jun. 30, 2018USD ($)
Summary of Significant Accounting Policies (Textual)
Amounts designated	$ 0

Investments (Details)

Investments (Details)	Jun. 30, 2018USD ($)
U.S. Equity Cumulative Dividends Fund-Series 2027
Offsetting of Derivative Assets
Gross Amounts of Recognized Assets
Gross Amounts Offset in the Consolidated Statements of Assets and Liabilities
Net Amounts Presented in the Consolidated Statements of Assets and Liabilities
Gross Amounts Not Offset in the Consolidated Statements of Assets and Liabilities, Financial Instruments		[1]
Gross Amounts Not Offset in the Consolidated Statements of Assets and Liabilities, Cash Collateral Pledged		[1]
Gross Amounts Not Offset in the Consolidated Statements of Assets and Liabilities, Net Amount
Offsetting of Derivative Liabilities
Gross Amounts of Recognized Liabilities	(14,000)
Gross Amounts Offset in the Consolidated Statements of Assets and Liabilities
Net Amounts Presented in the Consolidated Statements of Assets and Liabilities
Gross Amounts Not Offset in the Consolidated Statements of Assets and Liabilities, Financial Instruments		[1]
Gross Amounts Not Offset in the Consolidated Statements of Assets and Liabilities, Cash collateral Pledged	14,000	[1]
Gross Amounts Not Offset in the Consolidated Statements of Assets and Liabilities, Net Amount
U.S. Equity Cumulative Dividends Fund-Series 2027 | Futures Contracts [Member]
Offsetting of Derivative Assets
Gross Amounts of Recognized Assets	21,875
Gross Amounts Offset in the Consolidated Statements of Assets and Liabilities
Net Amounts Presented in the Consolidated Statements of Assets and Liabilities	21,875,000
Gross Amounts Not Offset in the Consolidated Statements of Assets and Liabilities, Financial Instruments		[1]
Gross Amounts Not Offset in the Consolidated Statements of Assets and Liabilities, Cash Collateral Pledged		[1]
Gross Amounts Not Offset in the Consolidated Statements of Assets and Liabilities, Net Amount	21,875
Offsetting of Derivative Liabilities
Gross Amounts of Recognized Liabilities
Gross Amounts Offset in the Consolidated Statements of Assets and Liabilities
Net Amounts Presented in the Consolidated Statements of Assets and Liabilities
Gross Amounts Not Offset in the Consolidated Statements of Assets and Liabilities, Financial Instruments		[1]
Gross Amounts Not Offset in the Consolidated Statements of Assets and Liabilities, Cash collateral Pledged		[1]
Gross Amounts Not Offset in the Consolidated Statements of Assets and Liabilities, Net Amount
U.S. Equity Ex-Dividend Fund-Series 2027
Offsetting of Derivative Assets
Gross Amounts of Recognized Assets	21,875
Gross Amounts Offset in the Consolidated Statements of Assets and Liabilities
Net Amounts Presented in the Consolidated Statements of Assets and Liabilities	21,875,000
Gross Amounts Not Offset in the Consolidated Statements of Assets and Liabilities, Financial Instruments		[1]
Gross Amounts Not Offset in the Consolidated Statements of Assets and Liabilities, Cash Collateral Pledged		[1]
Gross Amounts Not Offset in the Consolidated Statements of Assets and Liabilities, Net Amount	21,875,000
Offsetting of Derivative Liabilities
Gross Amounts of Recognized Liabilities	(14,000)
Gross Amounts Offset in the Consolidated Statements of Assets and Liabilities
Net Amounts Presented in the Consolidated Statements of Assets and Liabilities	(14,000)
Gross Amounts Not Offset in the Consolidated Statements of Assets and Liabilities, Financial Instruments		[1]
Gross Amounts Not Offset in the Consolidated Statements of Assets and Liabilities, Cash collateral Pledged	14,000
Gross Amounts Not Offset in the Consolidated Statements of Assets and Liabilities, Net Amount
U.S. Equity Ex-Dividend Fund-Series 2027 | Futures Contracts [Member]
Offsetting of Derivative Assets
Gross Amounts of Recognized Assets	21,875
Gross Amounts Offset in the Consolidated Statements of Assets and Liabilities
Net Amounts Presented in the Consolidated Statements of Assets and Liabilities	21,875
Gross Amounts Not Offset in the Consolidated Statements of Assets and Liabilities, Financial Instruments		[1]
Gross Amounts Not Offset in the Consolidated Statements of Assets and Liabilities, Cash Collateral Pledged
Gross Amounts Not Offset in the Consolidated Statements of Assets and Liabilities, Net Amount
Offsetting of Derivative Liabilities
Gross Amounts of Recognized Liabilities
Gross Amounts Offset in the Consolidated Statements of Assets and Liabilities
Net Amounts Presented in the Consolidated Statements of Assets and Liabilities	(14,000)
Gross Amounts Not Offset in the Consolidated Statements of Assets and Liabilities, Financial Instruments		[1]
Gross Amounts Not Offset in the Consolidated Statements of Assets and Liabilities, Cash collateral Pledged	14,000
Gross Amounts Not Offset in the Consolidated Statements of Assets and Liabilities, Net Amount
[1]	These amounts are limited to the derivatives asset/liability balance and, accordingly, do not include excess collateral received/pledged.

Investments (Details Textual)

Investments (Details Textual)	5 Months Ended
	Jun. 30, 2018
U.S. Cumulative Dividends Index-Series 2027 [Member]
Investments (Textual)
Description of dividend fund seeks investment	The Dividend Fund seeks investment results that, before fees and expenses, correspond to the performance of the Solactive® U.S. Cumulative Dividends Index - Series 2027 (the "Solactive Dividend Index") over each calendar year so as to provide Shareholders with returns designed to replicate the dividends on constituent companies of the S&P 500, without exposure to the underlying securities. The Dividend Fund intends primarily to invest its assets in the component instruments of the Solactive Dividend Index, as well as in cash and/or cash equivalents. The component instruments of the Solactive Dividend Index consist of U.S. Treasury Securities ("Treasury Securities") and long positions in annual futures contracts listed on the Chicago Mercantile Exchange ("CME") that provide exposure to dividends paid on the S&P 500 constituent companies ("S&P 500 Dividend Futures Contracts") pro rata for each year of the life of the Dividend Fund.
U.S. Equity Ex-Dividends Index-Series 2027 [Member]
Investments (Textual)
Description of ex-dividend fund seeks investment	The Ex-Dividend Fund seeks investment results that, before fees and expenses, correspond to the performance of the Solactive® U.S. Equity Ex-Dividends Index-Series 2027 (the "Solactive Ex-Dividend Index"). The Ex-Dividend Fund seeks to track the Solactive Ex-Dividend Index so as to provide Shareholders with returns that are equivalent to the performance of 0.25 shares of SPDR S&P 500 ETF ("SPY") less the value of current and future expected ordinary cash dividends to be paid on the S&P 500 constituent companies over the term of the Ex-Dividend Fund. SPY is an ETF that seeks to track the S&P 500. The Ex-Dividend Fund seeks to replicate the performance of SPY through owning long positions in quarterly S&P 500 Index futures contracts traded on the CME ("S&P 500 Index Futures Contracts") rather than shares of SPY. Additionally, the Ex-Dividend Fund intends to track the performance of the Solactive Ex-Dividend Index by selling S&P 500 Dividend Futures Contracts. The Ex-Dividend Fund will also hold Treasury Securities, cash and/or cash equivalents.

Agreements (Details)

Agreements (Details) - Sponsor [Member]	5 Months Ended
	Jun. 30, 2018USD ($)
Agreements (Textual)
Professional Fees	$ 150,000
Dividend Fund [Member]
Agreements (Textual)
Management fees payable, description	The Dividend Fund will pay the Sponsor a Management Fee equal to 0.58% per year of the Dividend Fund's average daily NAV, calculated and payable monthly, subject to a minimum monthly fee of $0.005 per Share. This minimum monthly fee is expected to apply when the Dividend Fund's average daily NAV for such month is less than $10.34 per Share.
Management fees	$ 0
Dividends Payable	0
Voluntarily waiving payments	$ 33,250
Ex-Dividend Fund [Member]
Agreements (Textual)
Management fees payable, description	The Ex-Dividend Fund will pay the Sponsor a Management Fee equal to 0.29% per year of the Ex-Dividend Fund's average daily NAV, calculated and payable monthly.
Management fees	$ 0
Dividends Payable	0
Voluntarily waiving payments	$ 18,868

Offering and Organizational C29

Offering and Organizational Costs (Details)	Jun. 30, 2018USD ($)
Dividends Fund [Member]
Offering and Organizational Costs (Textual)
Deferred offering costs	$ 123,816
Ex-Dividend Fund [Member]
Offering and Organizational Costs (Textual)
Deferred offering costs	$ 122,898

Creation and Redemption of Cr30

Creation and Redemption of Creation Units (Details)	5 Months Ended
	Jun. 30, 2018USD ($)shares
Creation and Redemption of Creation Units (Textual)
NAV in one or more large blocks | shares	50,000
Transaction fee per Basket | $	$ 500
Additional variable charge	2.00%

Financial Highlights (Details)

Financial Highlights (Details) $ / shares in Units, $ in Thousands	3 Months Ended		5 Months Ended
	Jun. 30, 2018USD ($)$ / shares		Jun. 30, 2018USD ($)$ / shares
U.S. Equity Cumulative Dividends Fund-Series 2027 [Member]
Investment Company, Financial Highlights [Line Items]
NAV Beginning of Period	$ 13.87		$ 13.73
Net Investment Income/Loss	0.03	[1]	0.01	[1],[2],[3]
Net Realized and Unrealized Gain/Loss	(0.40)	[1]	(0.09)	[1],[2],[3]
Total from Operations	(0.38)	[1]	(0.08)	[1],[2],[3]
Distributions from Net Investment Income	(0.29)	[1]	(0.45)	[1],[2],[3]
Total Distributions	(0.29)	[1]	(0.45)	[1],[2],[3]
NAV End of Period	$ 13.2		$ 13.2
Total Return	(2.73%)	[1],[4]	(0.60%)	[1],[2],[3]
Market Price	$ 13.27	[1]	$ 13.27	[1],[2],[3]
Net Assets End of Period | $	$ 5,278		$ 5,278
Ratio of Expenses to Average Net Assets	1.77%	[1],[5]	2.43%	[1],[2],[3]
Ratio of Expenses to Average Net Assets (Excluding Waivers)	5.14%	[1],[5]	4.74%	[1],[2],[3]
Ratio of Net Investment Income/Loss to Average Net Assets	0.76%	[1],[5]	0.10%	[1],[2],[3]
Portfolio Turnover	3.00%	[1],[3]	6.00%	[1],[2],[3]
U.S. Equity Ex-Dividend Fund-Series 2027 [Member]
Investment Company, Financial Highlights [Line Items]
NAV Beginning of Period	$ 51.9		$ 51.48
Net Investment Income/Loss	0.06	[1]	0.08	[1],[2],[3]
Net Realized and Unrealized Gain/Loss	2.18	[1]	2.58	[1],[2],[3]
Total from Operations	2.24	[1]	2.66	[1],[2],[3]
Distributions from Net Investment Income		[1]		[1],[2],[3]
Total Distributions		[1]		[1],[2],[3]
NAV End of Period	$ 54.14		$ 54.14
Total Return	4.32%	[1],[4]	5.17%	[1],[2],[3]
Market Price	$ 54	[1]	$ 54	[1],[2],[3]
Net Assets End of Period | $	$ 13,535		$ 13,535
Ratio of Expenses to Average Net Assets	1.25%	[1],[5]	1.26%	[1],[2],[3]
Ratio of Expenses to Average Net Assets (Excluding Waivers)	1.81%	[1],[5]	1.63%	[1],[2],[3]
Ratio of Net Investment Income/Loss to Average Net Assets	0.47%	[1],[5]	0.37%	[1],[2],[3]
Portfolio Turnover	0.00%	[1],[3]	0.00%	[1],[2],[3]
[1]	Per share data calculated using average shares method.
[2]	From commencement of operations, January 17, 2018 through June 30, 2018.
[3]	Portfolio turnover rate is for the period indicated and has not been annualized.
[4]	Total return is for the period indicated and has not been annualized.
[5]	Annualized

Financial Highlights (Details T

Financial Highlights (Details Textual)	Jun. 30, 2018USD ($)
Financial Highlights (Textual)
Amounts designated	$ 0