Metaurus Equity Component Trust (IDIV) 10-K 30 Mar 22 2021 FY Annual report Financial data

Document And Entity Information

Document And Entity Information - USD ($)	12 Months Ended
	Dec. 31, 2021	Mar. 23, 2022	Jun. 30, 2021
Document Information Line Items
Entity Registrant Name	Metaurus Equity Component Trust
Trading Symbol	IDIV
Document Type	10-K
Current Fiscal Year End Date	--12-31
Entity Common Stock, Shares Outstanding		3,800,000
Entity Public Float			$ 0
Amendment Flag	false
Entity Central Index Key	0001688487
Entity Current Reporting Status	Yes
Entity Voluntary Filers	No
Entity Filer Category	Non-accelerated Filer
Entity Well-known Seasoned Issuer	No
Document Period End Date	Dec. 31, 2021
Document Fiscal Year Focus	2021
Document Fiscal Period Focus	FY
Entity Small Business	false
Entity Emerging Growth Company	true
Entity Shell Company	false
Entity Ex Transition Period	false
ICFR Auditor Attestation Flag	false
Document Annual Report	true
Document Transition Report	false
Entity File Number	001-38344
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	30-0987130
Entity Address, Address Line One	c/o Metaurus Advisors LLC
Entity Address, Address Line Two	22 Hudson Place
Entity Address, Address Line Three	Third Floor
Entity Address, City or Town	Hoboken
Entity Address, State or Province	NJ
Entity Address, Postal Zip Code	07030
City Area Code	(201)
Local Phone Number	683-7979
Title of 12(b) Security	Shares of U.S. Equity Cumulative Dividends Fund – Series 2027
Security Exchange Name	NYSE
Entity Interactive Data Current	Yes
Auditor Firm ID	925
Auditor Name	COHEN & COMPANY, LTD
Auditor Location	Cleveland, Ohio

Statements of Financial Conditi

Statements of Financial Condition - USD ($)	Dec. 31, 2021	Dec. 17, 2021	Dec. 31, 2020
U.S. Equity Cumulative Dividends Fund-Series 2027
Assets
Investments, at Fair Value (Cost )	$ 33,020,279		$ 18,835,724
Cash and Cash Equivalents	674,688		349,052
Cash Pledged as Collateral on Open Futures Contracts	396,949		739,428
Interest Receivable	63,903		29,704
Variation Margin Receivable on Open Futures Contracts	88,750		31,500
Total Assets	34,244,569		19,985,408
Liabilities
Due to Advisor	25,176		14,405
Variation Margin Payable	22,188		26,250
Income Distribution Payable	434,875		231,000
Total Liabilities	482,239		271,655
Shareholders’ Equity
Authorized Participants	$ 33,762,330		$ 19,713,753
Net Asset Value Per Share (in Dollars per share)	$ 9.51		$ 9.39
Market Price Per Share (in Dollars per share)	$ 10.2		$ 10.08
U.S. Equity Ex-Dividend Fund-Series 2027
Assets
Investments, at Fair Value (Cost )			$ 31,392,285
Cash and Cash Equivalents		9,045	63,285
Cash Pledged as Collateral on Open Futures Contracts			1,890,737
Variation Margin Receivable on Open Futures Contracts			251,000
Total Assets		9,045	33,597,307
Liabilities
Due to Advisor		9,045	16,077
Variation Margin Payable on Open Futures Contracts			6,000
Total Liabilities		9,045	22,077
Shareholders’ Equity
Authorized Participants			$ 33,575,230
Net Asset Value Per Share (in Dollars per share)			$ 83.94
Market Price Per Share (in Dollars per share)			$ 84.13
Liquidating NAV (in Dollars per share)		$ 106.32

Statements of Financial Condi_2

Statements of Financial Condition (Parentheticals) - USD ($)	Dec. 31, 2021	Dec. 17, 2021	Dec. 31, 2020
U.S. Equity Cumulative Dividends Fund-Series 2027
Investment cost (in Dollars)	$ 33,581,572		$ 18,746,186
Shares	3,550,000		2,100,000
Shares Outstanding	3,550,000		2,100,000
U.S. Equity Ex-Dividend Fund-Series 2027
Investment cost (in Dollars)		$ 0	$ 31,389,680
Shares		0	400,000
Shares Outstanding		0	400,000

Statements of Operations

Statements of Operations - USD ($)	12 Months Ended
	Dec. 31, 2021	Dec. 17, 2021	Dec. 31, 2020	Dec. 31, 2019
U.S. Equity Cumulative Dividends Fund-Series 2027
Interest Income	$ 122,879		$ 171,791	$ 280,311	[1]
Advisory Fees	234,734		173,761	121,142	[1]
Administration Fees				27,740	[1]
Professional Fees				22,642	[1]
Custody Fees				2,586	[1]
Tax Preparation Fees				39,266	[1]
Other Expenses				4,980	[1]
Total Expenses	234,734		173,761	218,356	[1]
Less Waivers/Reimbursement of:
Voluntary Waivers				(97,121)	[1]
Net Expenses	234,734		173,761	121,235	[1]
Net Investment Income (Loss)	(111,855)		(1,970)	159,076	[1]
Net Realized and Unrealized Gain (Loss) from Investment Activities
Net Realized Gain (Loss) on Investments	15,308		1,203,137	151,039	[1]
Net Realized Gain (Loss) on Futures Contracts	10,674		(70,653)	(46,367)	[1]
Net Change in Unrealized Appreciation (Depreciation) on Investments	(650,832)		(13,568)	61,815	[1]
Net Change in Unrealized Appreciation (Depreciation) on Futures Contracts	4,383,498		(3,402,145)	1,083,742	[1]
Net Realized and Unrealized Gain (Loss) on Investments	3,758,648		(2,283,229)	1,250,229	[1]
Net Increase (Decrease) in Net Assets Resulting from Operations	$ 3,646,793		(2,285,199)	1,409,305	[1]
U.S. Equity Ex-Dividends Fund-Series 2027
Interest Income		$ (5,663)	109,517	424,959	[1]
Advisory Fees		202,704	161,192	100,254	[1]
Administration Fees				27,740	[1]
Professional Fees				21,259	[1]
Custody Fees				2,211	[1]
Tax Preparation Fees				39,248	[1]
Other Expenses				12,257	[1]
Total Expenses		202,704	161,192	202,969	[1]
Less Waivers/Reimbursement of:
Voluntary Waivers				(51,310)	[1]
Net Expenses		202,704	161,192	151,659	[1]
Net Investment Income (Loss)		(208,367)	(51,675)	273,300	[1]
Net Realized and Unrealized Gain (Loss) from Investment Activities
Net Realized Gain (Loss) on Investments		119	50,842	9,999	[1]
Net Realized Gain (Loss) on Futures Contracts		9,722,069	5,623,126	4,559,015	[1]
Net Change in Unrealized Appreciation (Depreciation) on Investments		(2,605)	1,961	1,736	[1]
Net Change in Unrealized Appreciation (Depreciation) on Futures Contracts		(1,370,128)	1,009,174	632,579	[1]
Net Realized and Unrealized Gain (Loss) on Investments		8,349,455	6,685,103	5,203,329	[1]
Net Increase (Decrease) in Net Assets Resulting from Operations		$ 8,141,088	$ 6,633,428	$ 5,476,629	[1]
[1]	Effective May 15, 2019, the the Fund adopted a unitary fee structure (See Note 4)

Statements of Changes in Shareh

Statements of Changes in Shareholders’ Equity - USD ($)	U.S. Equity Cumulative Dividends Fund-Series 2027	U.S. Equity Ex-Dividend Fund-Series 2027
Operations:
Net Investment Income	$ 159,076	$ 273,300
Net Realized Gain (Loss) on Investments and Futures Contracts	104,672	4,569,014
Net Change in Unrealized Appreciation (Depreciation) on Investments and Futures Contracts	1,145,557	634,315
Net Increase (Decrease) in Net Assets Resulting from Operations	1,409,305	5,476,629
Dividends and Distributions to Shareholders:
Distributions	(1,796,625)
Total Distributions	(1,796,625)
Capital Share Transactions:
Issued	21,346,523
Redeemed	(1,195,534)
Net Increase (Decrease) in Net Assets Resulting from Capital Share Transactions	20,150,989
Issued		8,969,346
Redeemed
Net Increase (Decrease) in Net Assets Resulting from Capital Share Transactions		8,969,346
Total Increase (Decrease) in Net Assets	19,763,669	14,445,975
Beginning of Year at Dec. 31, 2018	4,526,860	12,495,827
End of Year at Dec. 31, 2019	24,290,529	26,941,802
Capital Share Transactions:
Beginning of Year	400,000	250,000
Issued		150,000
Issued	1,750,000
Redeemed	(100,000)
Shares Outstanding from Capital Share Transactions	2,050,000	400,000
Net Investment Income	(1,970)	(51,675)
Net Realized Gain (Loss) on Investments and Futures Contracts	1,132,484	5,673,968
Net Change in Unrealized Appreciation (Depreciation) on Investments and Futures Contracts	(3,415,713)	1,011,135
Net Increase (Decrease) in Net Assets Resulting from Operations	(2,285,199)	6,633,428
Distributions	(2,757,625)
Total Distributions	(2,757,625)
Issued	466,048
Redeemed
Net Increase (Decrease) in Net Assets Resulting from Capital Share Transactions	466,048
Issued
Redeemed
Net Increase (Decrease) in Net Assets Resulting from Capital Share Transactions
Total Increase (Decrease) in Net Assets	(4,576,776)	6,633,428
End of Year at Dec. 31, 2020	19,713,753	33,575,230
Capital Share Transactions:
Beginning of Year	2,050,000	400,000
Issued
Issued	50,000
Redeemed
Shares Outstanding from Capital Share Transactions	2,100,000	400,000
Net Investment Income	(111,855)
Net Realized Gain (Loss) on Investments and Futures Contracts	25,982
Net Change in Unrealized Appreciation (Depreciation) on Investments and Futures Contracts	3,732,666
Net Increase (Decrease) in Net Assets Resulting from Operations	3,646,793
Distributions	(3,944,125)
Total Distributions	(3,944,125)
Issued	14,345,909
Redeemed
Net Increase (Decrease) in Net Assets Resulting from Capital Share Transactions	14,345,909
Total Increase (Decrease) in Net Assets	14,048,577
End of Year at Dec. 31, 2021	33,762,330
Capital Share Transactions:
Beginning of Year	2,100,000
Issued	1,450,000
Redeemed
Shares Outstanding from Capital Share Transactions	3,550,000
Net Investment Income		(208,367)
Net Realized Gain (Loss) on Investments and Futures Contracts		9,722,188
Net Change in Unrealized Appreciation (Depreciation) on Investments and Futures Contracts		(1,372,733)
Net Increase (Decrease) in Net Assets Resulting from Operations		8,141,088
Issued
Redeemed		(41,716,319)
Net Increase (Decrease) in Net Assets Resulting from Capital Share Transactions		(41,716,319)
Total Increase (Decrease) in Net Assets		(33,575,230)
Beginning of Year at Dec. 31, 2020	$ 19,713,753	33,575,230
End of Year at Dec. 17, 2021
Capital Share Transactions:
Beginning of Year		400,000
Issued
Redeemed		(400,000)
Shares Outstanding from Capital Share Transactions

Statements of Cash Flows

Statements of Cash Flows - USD ($)	12 Months Ended
	Dec. 31, 2021		Dec. 17, 2021		Dec. 31, 2020		Dec. 31, 2019
U.S. Equity Cumulative Dividends Fund-Series 2027
Cash Flows from operating activities
Net increase/(decrease) in net assets from operations	$ 3,646,793				$ (2,285,199)		$ 1,409,305
Adjustments to reconcile net increase/(decrease) in net assets from operations to net cash provided by (used in) operating activities:
Purchases of investments	(18,632,356)				(19,964,742)		(25,053,055)
Proceeds from sale of investments	3,408,890				25,676,397		6,085,113
Accretion of discounts and amortization of premiums	403,387				225,920		92,346
Net realized (gain)/loss on investments	(15,308)				(1,203,137)		(151,039)
Net change in unrealized (appreciation)/depreciation on investments	650,832				13,568		(61,815)
(Increase)/decrease in operating assets
Interest Receivable	(34,199)				19,206		(39,903)
Receivable from advisor							15,459
Variation margin receivable	(57,250)				4,375		(35,875)
Deferred offering costs							123,816
Increase/(decrease) in operating liabilities
Due to Advisor	10,771				(3,689)		(106,406)
Payable to Administrator							(3,185)
Variation margin payable	(4,062)				5,750		(8,000)
Other accrued expenses					(86,737)		(101,292)
Net cash provided by (used in) operating activities	(10,622,502)				2,401,712		(17,834,531)
Cash Flows from financing activities
Proceeds from capital share issuances	14,345,909				466,048		21,346,523
Proceeds from capital share redemptions							(1,195,534)
Distributions to shareholders	(3,740,250)				(2,834,125)		(1,545,125)
Net cash provided by (used in) financing activities	10,605,659				(2,368,077)		18,605,864
Net change in cash and cash equivalents	(16,843)				33,635		771,333
Cash, cash equivalents and restricted cash, beginning of period	1,088,480	[1]	$ 1,088,480	[1]	1,054,845		283,512
Cash, cash equivalents and restricted cash, end of period	1,071,637	[1]			1,088,480	[1]	1,054,845
Supplemental Disclosure of Cash Flow and Non-Cash Information:
Income Distribution Payable	434,875				231,000		307,500
U.S. Equity Ex-Dividend Fund-Series 2027
Cash Flows from operating activities
Net increase/(decrease) in net assets from operations			8,141,088		6,633,428		5,476,629
Adjustments to reconcile net increase/(decrease) in net assets from operations to net cash provided by (used in) operating activities:
Purchases of investments			(68,387,811)		(75,245,403)		(78,726,861)
Proceeds from sale of investments			99,794,087		69,870,613		64,562,296
Accretion of discounts and amortization of premiums			(16,476)		(127,154)		(412,449)
Net realized (gain)/loss on investments			(119)		(50,842)		(9,999)
Net change in unrealized (appreciation)/depreciation on investments			2,605		(1,961)		(1,736)
(Increase)/decrease in operating assets
Receivable from advisor							14,042
Variation margin receivable			251,000		(170,000)		56,813
Deferred offering costs							122,898
Increase/(decrease) in operating liabilities
Due to Advisor			(7,032)		3,040		(111,463)
Payable to Administrator							(3,185)
Variation margin payable			(6,000)		(1,000)		7,000
Other accrued expenses					(91,007)		(97,027)
Net cash provided by (used in) operating activities			39,771,342		819,714		(9,123,042)
Cash Flows from financing activities
Proceeds from capital share issuances							8,969,346
Proceeds from capital share redemptions			(41,716,319)
Net cash provided by (used in) financing activities			(41,716,319)				8,969,346
Net change in cash and cash equivalents			(1,944,977)		819,714		(153,696)
Cash, cash equivalents and restricted cash, beginning of period	$ 1,954,022	[1]	1,954,022	[1]	1,134,308		1,288,004
Cash, cash equivalents and restricted cash, end of period			$ 9,045	[1]	$ 1,954,022	[1]	$ 1,134,308
[1]	Agrees to the total of “Cash and Cash equivalents” and “Cash Pledged as Collateral for Open Futures Contracts” balances on the Statements of Financial Condition.

Schedules of Investments

Schedules of Investments	12 Months Ended
	Dec. 31, 2021
Condensed Financial Information Disclosure [Abstract]
Schedules of Investments	U.S. Equity Cumulative Dividends Fund–Series 2027 Schedules of Investments December 31, 2021 Description Principal Amount Value U.S. TREASURY OBLIGATIONS - 97.8% U.S. Treasury Notes 2.125%, 12/31/2022 (1) $ 4,599,000 $ 4,675,350 2.250%, 12/31/2023 (1) 4,971,000 5,120,324 2.250%, 11/15/2024 (1) 5,256,000 5,449,610 2.250%, 11/15/2025 (1) 5,472,000 5,701,140 2.000%, 11/15/2026 (1) 5,699,000 5,896,016 2.250%, 11/15/2027 (1) 5,883,000 6,177,839 Total U.S. Treasury Obligations (Cost $33,581,572) 33,020,279 Total Investments - 97.8% (Cost $33,581,572) $ 33,020,279 Percentages are based on net assets of $33,762,330. A list of the open futures contracts held by the Fund at December 31, 2021, is as follows: Number of Unrealized Contracts Expiration Notional Notional Appreciation Type of Contract Long Date Amount Value (Depreciation) S&P 500 Annl Div Dec22 355 12/19/2022 $ 5,480,126 $ 5,604,563 $ 124,437 S&P 500 Annl Div Dec23 355 12/18/2023 5,599,626 5,808,688 209,062 S&P 500 Annl Div Dec24 355 12/23/2024 5,686,501 5,919,625 233,124 S&P 500 Annl Div Dec25 355 12/22/2025 5,775,251 6,061,625 286,374 S&P 500 Annl Div Dec26 355 12/21/2026 5,872,001 6,172,562 300,561 S&P 500 Annl Div Dec27 355 12/20/2027 5,960,001 6,274,625 314,624 Net Unrealized Appreciation (Depreciation) $ 1,468,182 (1) Security, or a portion of, has been pledged as collateral for the trading of futures contracts. The market value of the securities pledged as collateral for the period ended December 31, 2021 was $9,575,159 or 28% of net assets. U.S. Equity Cumulative Dividends Fund–Series 2027 Schedules of Investments December 31, 2020 Description Principal Amount Value U.S. TREASURY OBLIGATIONS - 95.5% U.S. Treasury Notes 2.250%, 11/15/2027 (1) $ 2,650,000 $ 2,941,655 2.250%, 12/31/2023 (1) 2,441,000 2,593,372 2.250%, 11/15/2024 (1) 2,541,000 2,737,729 2.250%, 11/15/2025 (1) 2,532,000 2,765,122 2.125%, 12/31/2022 (1) 2,438,000 2,535,139 2.000%, 12/31/2021 (1) 2,403,000 2,448,109 2.000%, 11/15/2026 (1) 2,586,000 2,814,598 Total U.S. Treasury Obligations (Cost $18,746,186) 18,835,724 Total Investments - 95.5% (Cost $18,746,186) $ 18,835,724 Percentages are based on net assets of $19,713,753. A list of the open futures contracts held by the Fund at December 31, 2020, is as follows: Number of Unrealized Contracts Expiration Notional Notional Appreciation Type of Contract Long (Short) Date Amount Value (Depreciation) S&P 500 Annl Div Dec21 210 12/20/2021 $ 3,175,483 $ 2,955,750 $ (219,733 ) S&P 500 Annl Div Dec22 210 12/19/2022 3,232,545 2,942,625 (289,920 ) S&P 500 Annl Div Dec23 210 12/18/2023 3,287,608 2,942,625 (344,983 ) S&P 500 Annl Div Dec24 210 12/23/2024 3,344,545 2,932,125 (412,420 ) S&P 500 Annl Div Dec25 210 12/22/2025 3,414,608 2,924,250 (490,358 ) S&P 500 Annl Div Dec26 210 12/21/2026 3,485,732 2,934,750 (550,982 ) S&P 500 Annl Div Dec27 210 12/20/2027 3,552,170 2,945,250 (606,920 ) Net Unrealized Appreciation (Depreciation) $ (2,915,316 ) (1) Security, or a portion of, has been pledged as collateral for the trading of futures contracts. The market value of the securities pledged as collateral for the period ended December 31, 2020 was $10,797,858 or 54.8% of net assets. U.S. Equity Ex-Dividend Fund–Series 2027 Schedules of Investments December 31, 2020 Description Principal Amount Value U.S. TREASURY OBLIGATIONS - 93.5% U.S. Treasury Bills (1) (2) 0.095%, 05/06/2021 $ 31,400,000 $ 31,392,285 Total U.S. Treasury Obligations (Cost $31,389,680) 31,392,285 Total Investments - 93.5% (Cost $31,389,680) $ 31,392,285 Percentages are based on net assets of $33,575,230. A list of the open futures contracts held by the Fund at December 31, 2020, is as follows: Number of Unrealized Contracts Expiration Notional Notional Appreciation Type of Contract Long/(Short) Date Amount Value (Depreciation) S&P 500 Annl Div Dec21 (40) 12/20/2021 $ (613,816 ) $ (563,000 ) $ 50,816 S&P 500 Annl Div Dec22 (40) 12/19/2022 (631,004 ) (560,500 ) 70,504 S&P 500 Annl Div Dec23 (40) 12/18/2023 (644,691 ) (560,500 ) 84,191 S&P 500 Annl Div Dec24 (40) 12/23/2024 (660,316 ) (558,500 ) 101,816 S&P 500 Annl Div Dec25 (40) 12/22/2025 (673,566 ) (557,000 ) 116,566 S&P 500 Annl Div Dec26 (40) 12/21/2026 (687,629 ) (559,000 ) 128,629 S&P 500 Annl Div Dec27 (40) 12/20/2027 (702,317 ) (561,000 ) 141,317 E-mini S&P 500 Index Mar 21 200 03/22/2021 36,811,712 37,488,000 676,288 Net Unrealized Appreciation (Depreciation) $ 1,370,127 (1) Zero coupon security. The rate reported on the Schedule of Investments is the effective yield at time of purchase. (2) Security, or a portion of, has been pledged as collateral for the trading of futures contracts. The market value of the securities pledged as collateral for the period ended December 31, 2020 was $22,393,280 or 66.7% of net assets.

Organization

Organization	12 Months Ended
	Dec. 31, 2021
Organization, Consolidation and Presentation of Financial Statements [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 one series or fund traded on the NYSE Arca, Inc. exchange (“NYSE Arca”), U.S. Equity Cumulative Dividends Fund–Series 2027 (the “Dividend Fund”). (The Trust previously also had a second series or fund traded on the NYSE Arca – U.S. Equity Ex-Dividend Fund–Series 2027 (the “Ex-Dividend Fund”) which was liquidated on December 17, 2021.) Metaurus Advisors LLC (the “Sponsor” or “Advisor”) serves/served as the sponsor, commodity pool operator and commodity trading advisor of both the Dividend Fund and Ex-Dividend Fund (each a “Fund” or “ETF”, collectively the “Funds” or “ETFs”). 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. On November 12, 2021, the Sponsor notified the NYSE Arca stock exchange that it has determined to close the Ex-Dividend Fund and delist and liquidate the Ex-Dividend Fund’s shares from trading on the NYSE Arca. Trading in XDIV shares was suspended following the market close on December 10, 2021, and XDIV was liquidated on December 17, 2021. 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 Shares, called “Baskets” as set forth in the ETFs’ current Prospectus and any prospectus supplements thereto. 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	12 Months Ended
	Dec. 31, 2021
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 financial statements were prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”) for financial information and with the instructions for Form 10-K and the rules and regulations of the U.S. Securities and Exchange Commission (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. Following is a summary of the significant accounting policies followed by the Funds: Use of Estimates 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 investment income and expenses during the reporting period. Actual results could differ from those estimates. Concentration of Credit Risk Credit risk is the risk that a financial loss will be incurred if a Fund’s counterparty does not fulfill 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 IDIV Fund at December 31, 2021, 2020 and 2019 are held at Brown Brothers, Harriman & Co., and Morgan Stanley & Co. LLC. Final Net Asset Value for Fiscal Period The 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 are determined as soon as practicable after the close of regular trading of the Shares on the NYSE Arca 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. SEI Investments Global Fund Services, Inc., the administrator of the ETFs is responsible for making these determinations. Fair Value of Financial Instruments Security Valuation — The Funds value investments and financial instruments at fair value. 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, in the case of the futures contracts held by the Funds, at the daily settlement price published by the Chicago Mercantile Exchange for such futures contracts. For securities traded on NASDAQ, the NASDAQ Official Closing Price will be used. Treasury Securities held by the Funds generally are priced based upon valuations provided by independent, third-party pricing agents. 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 Advisor 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 NAV, 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 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 summarizes the inputs used to value the Funds’ investments at December 31, 2021 and December 31, 2020 using the fair value hierarchy: U.S. Equity Cumulative Dividends Fund–Series 2027 December 31, 2021 Investments in Securities Level 1 Level 2 Level 3 Total U.S. Treasury Obligations $ - $ 33,020,279 $ - $ 33,020,279 Total Investments in Securities $ - $ 33,020,279 $ - $ 33,020,279 Other Financial Instruments Level 1 Level 2 Level 3 Total Futures Contracts* Unrealized Appreciation $ 1,468,182 $ - $ - $ 1,468,182 Unrealized Depreciation - - - - Total Other Financial Instruments $ 1,468,182 $ - $ - $ 1,468,182 * Futures contracts are valued at unrealized appreciation (depreciation) on the instrument. Amounts designated as “-” are $0. U.S. Equity Cumulative Dividends Fund–Series 2027 December 31, 2020 Investments in Securities Level 1 Level 2 Level 3 Total U.S. Treasury Obligations $ - $ 18,835,724 $ - $ 18,835,724 Total Investments in Securities $ - $ 18,835,724 $ - $ 18,835,724 Other Financial Instruments Level 1 Level 2 Level 3 Total Futures Contracts* Unrealized Appreciation $ - $ - $ - $ - Unrealized Depreciation $ (2,915,316 ) $ - $ - $ (2,915,316 ) Total Other Financial Instruments $ (2,915,316 ) $ - $ - $ (2,915,316 ) * Futures contracts are valued at unrealized appreciation (depreciation) on the instrument. Amounts designated as “-” are $0. U.S. Equity Ex-Dividend Fund–Series 2027 December 31, 2020 Investments in Securities Level 1 Level 2 Level 3 Total U.S. Treasury Obligations $ - $ 31,392,285 $ - $ 31,392,285 Total Investments in Securities $ - $ 31,392,285 $ - $ 31,392,285 Other Financial Instruments Level 1 Level 2 Level 3 Total Futures Contracts* Unrealized Appreciation $ 1,370,127 $ - $ - $ 1,370,127 Unrealized Depreciation - - - - Total Other Financial Instruments $ 1,370,127 $ - $ - $ 1,370,127 * Futures contracts are valued at unrealized appreciation (depreciation) on the instrument. 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. Discounts and premiums on securities purchased are amortized or accreted using the effective interest method. Realized gains and losses from securities transactions and unrealized appreciation and depreciation of securities are determined using the identified cost basis method 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 National Futures Association (“NFA”) fees) that are not related to the creation and redemption of Baskets. Brokerage commissions on futures contracts are recognized on a half-turn basis (e.g., the first half is recognized when the contract is opened and the second half is recognized when the contract is closed). 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 U.S. federal jurisdiction and may file income tax returns in various U.S. 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 period. At December 31, 2021 and December 31, 2020, 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 U.S. federal, 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 U.S. federal and state income tax returns, as income tax expenses on their Statements of Operations. For the years ended December 31, 2021, 2020, and 2019, 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 did not make periodic distributions prior to its liquidation.

Investments

Investments	12 Months Ended
	Dec. 31, 2021
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 Index, 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 sought investment results that, before fees and expenses, corresponded to the performance of the Solactive® U.S. Equity Ex-Dividends Index—Series 2027 (the “Solactive Ex-Dividend Index”). The Ex-Dividend Fund sought to track the Solactive Ex-Dividend Index so as to provide Shareholders with returns that were equivalent to the performance of 0.25 shares of SPDR S&P 500 exchange-traded fund (“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 exchange-traded fund that seeks to track the S&P 500. The Ex-Dividend Fund sought 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 intended to track the performance of the Solactive Ex-Dividend Index by selling S&P 500 Dividend Futures Contracts. The Ex-Dividend Fund also held Treasury Securities, cash and/or cash equivalents. Cash and Cash Equivalents Cash and cash equivalents consist of highly liquid investments with original maturities of three months or less at the date of purchase. The Funds maintain deposits with financial institutions in amounts that may, at times, exceed the insured limits under applicable law. 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 no short-term loans or reverse repurchase agreements held in the Funds as of and during the years ended December 31, 2021, 2020 and 2019. Accounting for Derivative Instruments All open derivative positions at period end are reflected on each respective ETF’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 ETF 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 ETF 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. The particular futures contracts utilized by the ETFs permit settlement only in cash. Upon entering into a futures contract, each ETF 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. IDIV held futures equity contracts as of and for the years ended December 31, 2021, 2020 and 2019. XDIV held futures equity contracts as of and for the years ended December 31, 2020 and 2019. As set forth above, XDIV was liquidated on December 17, 2021, and therefore did not hold futures equity contracts after that date. The value and detail of these contracts are disclosed on each Fund’s respective Schedule of Investments. The corresponding gains and losses associated with these contracts are disclosed on each Fund’s respective Statement of Operations. The average volume of futures contracts for IDIV for the year ended December 31, 2021 are as follows: U.S. Equity Cumulative Dividends Fund–Series 2027 Derivative Notional Amount Long futures contracts $ 30,755,632 The average volume of futures contracts for XDIV for the period ended December 17, 2021 (liquidation date) are as follows: U.S. Equity Ex-Dividend Fund–Series 2027 Derivative Notional Amount Long futures contracts $ 39,281,601 Short futures contracts $ (4,443,139 ) The average volume of futures contracts for the year ended December 31, 2020 are as follows: U.S. Equity Cumulative Dividends Fund–Series 2027 Derivative Notional Amount Long futures contracts $ 25,837,277 U.S. Equity Ex-Dividend Fund–Series 2027 Derivative Notional Amount Long futures contracts $ 31,304,448 Short futures contracts $ (5,154,406 ) 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 IDIV’s derivatives by investment type net of amounts available for offset under a master netting agreement and the related collateral received or pledged by the Funds as of December 31, 2021 and December 31, 2020. U.S. Equity Cumulative Dividends Fund–Series 2027 December 31, 2021 Offsetting of Derivative Assets Gross Amounts of Gross Amounts Offset in the Statement of Net Amounts Presented in the Statement of Gross Amounts Not Offset in the Recognized Financial Financial Financial Cash Collateral Net Derivative Assets Futures Contracts $ 88,750 $ - $ 88,750 $   - $ - $ 88,750 Total $ 88,750 $ - $ 88,750 $ - $ - $ 88,750 Offsetting of Derivative Liabilities Gross Amounts of Gross Amounts Offset in the Statement of Net Amounts Presented in the Statement of Gross Amounts Not Offset in the Recognized Financial Financial Financial Cash Collateral Net Derivative Liabilities Futures Contracts $ (22,188 ) $ - $ (22,188 ) $ - $ 22,188 $ - Total $ (22,188 ) $ - $ (22,188 ) $ - $ 22,188 $ - U.S. Equity Cumulative Dividends Fund–Series 2027 December 31, 2020 Offsetting of Derivative Assets Gross Amounts of Gross Amounts Offset in the Statement of Net Amounts Presented in the Statement of Gross Amounts Not Offset in the Recognized Assets Financial Financial Financial Cash Collateral Net Derivative Assets Futures Contracts $ 31,500 $ - $ 31,500 $ - $ - $ 31,500 Total $ 31,500 $ - $ 31,500 $ - $ - $ 31,500 Offsetting of Derivative Liabilities Gross Amounts of Gross Amounts Offset in the Statement of Net Amounts Presented in the Statement of Gross Amounts Not Offset in the Recognized Liabilities Financial Financial Financial Cash Collateral Net Derivative Liabilities Futures Contracts $ (26,250 ) $ - $ (26,250 ) $ - $ 26,250 $ - Total $ (26,250 ) $ - $ (26,250 ) $ - $ 26,250 $ - (a) These amounts are limited to the derivatives asset/liability balance and, accordingly, do not include excess collateral received/pledged. The following table presents XDIV’s derivatives by investment type net of amounts available for offset under a master netting agreement and the related collateral received or pledged by the Funds as of December 31, 2020. U.S. Equity Ex-Dividends Fund–Series 2027 December 31, 2020 Offsetting of Derivative Assets Gross Amounts of Gross Amounts Offset in the Statement of Net Amounts Presented in the Statement of Gross Amounts Not Offset in the Recognized Assets Financial Financial Financial Cash Collateral Net Derivative Assets Futures Contracts $ 251,000 $ - $ 251,000 $ - $ - $ 251,000 Total $ 251,000 $ - $ 251,000 $ - $ - $ 251,000 Offsetting of Derivative Liabilities Gross Amounts of Gross Amounts Offset in the Statement of Net Amounts Presented in the Statement of Gross Amounts Not Offset in the Recognized Liabilities Financial Financial Financial Cash Collateral Net Derivative Liabilities Futures Contracts $ (6,000 ) $ - $ (6,000 ) $ - $ 6,000 $ - Total $ (6,000 ) $ - $ (6,000 ) $ - $ 6,000 $ -

Agreements

Agreements	12 Months Ended
	Dec. 31, 2021
Agreements [Abstract]
AGREEMENTS	NOTE 4 – AGREEMENTS Sponsor On May 15, 2019, the Funds filed a prospectus supplement with the SEC and the NFA (Prospectus Supplement No. 1 (“Supplement No. 1”) to the prospectus dated April 19, 2019 (the “Prospectus”).) The NFA accepted and approved Supplement No. 1 on the same day. The SEC accepted the filing on May 15, 2019, and noted it as filed on May 16, 2019. Among other things, Supplement No. 1 provided that, effective immediately, the Funds were adopting a unitary fee structure pursuant to which each Fund will pay the Sponsor a management fee in consideration of the services provided by the Sponsor and other services provided to each Fund that the Sponsor pays directly (the “Management Fee”). Following the adoption of the unitary fee structure, the Sponsor will pay for all of the routine operational, administrative, and other ordinary expenses of each Fund as determined by the Sponsor as set forth in the Prospectus and Supplement No.1. The Funds will pay for certain other expenses and all of the Funds’ extraordinary fees and expenses, if any, as determined by the Sponsor, as set forth in the Prospectus and Supplement No. 1. Prior to May 16, 2019, each Fund paid 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 had agreed to pay any professional expenses of each Fund in excess of $150,000 in each of 2018 and 2019. The Funds were responsible for any extraordinary expenses and liabilities. Each Fund paid for its printing and mailing expenses. While neither of the Funds individually incurred professional expenses in excess of $150,000 through December 31, 2019, the Sponsor had elected to voluntarily reimburse certain expenses beginning on January 1, 2019 totaling $97,121 and $51,310 for the Dividend Fund and Ex-Dividend Fund, respectively, through May 15, 2019 when the Sponsor ceased to reimburse such expenses following the adoption of the unitary fee. These reimbursements are not subject to recoupment by the Sponsor. During the period ended December 31, 2018, the Sponsor had also elected to voluntarily reimburse certain expenses totaling $221,301 and $127,456 for the Dividend Fund and Ex-Dividend Fund, respectively. Previously, the Sponsor had voluntarily waived a portion of its Management Fee from the Funds. Effective May 16, 2019, the Sponsor is no longer reimbursing such expenses, and is no longer waiving its Management Fee from the Funds. At the time the Funds commenced operations, the Sponsor 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 Reimbursement Agreement provided that the amount due to the Sponsor, as disclosed on the Statements of Financial Condition, will be repaid over a maximum ten-year period. The Reimbursement Agreement, provided that the amount to be 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 contained 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, it provided that should the Funds terminate prior to the full repayment of the amount due, the Sponsor agrees to forfeit the unpaid amount. Interest would not be charged on any amounts due. The Dividend Fund and Ex-Dividend Fund reimbursed the Sponsor $13,065 and $13,892, respectively, for 2018 and reimbursed the Sponsor $4,627 and $4,511, respectively, for the amount accrued from January 1, 2019 through May 15, 2019. No additional repayments/reimbursements under the Reimbursement Agreements will be paid following the Funds’ adoption of the unitary fee structure effective May 16, 2019. As a result of the adoption of the unitary fee, the remaining unpaid balances under the Reimbursement Agreement of $106,808 and $106,097, for the Dividend Fund and Ex-Dividend Fund, respectively, will not be reimbursed to the Sponsor. The Sponsor agreed to absorb these unpaid balances and wrote off both the deferred offering costs and the related payable due to the Sponsor during the second quarter of 2019. 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 to the Sponsor in consideration of its 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 0.87% per year of the Dividend Fund’s average daily net assets, calculated and payable monthly in arrears, or pro rata for any partial month. The Ex-Dividend Fund paid the Sponsor a Management Fee equal to 0.58% per year of the Ex-Dividend Fund’s average daily net assets, calculated and payable monthly in arrears, or pro rata for any partial month.

Creation and Redemption of Crea

Creation and Redemption of Creation Units	12 Months Ended
	Dec. 31, 2021
Creation and Redemption of Creation Units [Abstract]
CREATION AND REDEMPTION OF CREATION UNITS	NOTE 5 – 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 Shares called Baskets as set forth in the Funds’ Prospectus and any prospectus supplements thereto. 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 created or redeemed. The Sponsor may choose to pay transaction fees on behalf of Authorized Participants and has done so to date on Baskets that have been created. There is no guarantee that the Sponsor will continue to do so. 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	12 Months Ended
	Dec. 31, 2021
Investment Company, Financial Highlights [Abstract]
FINANCIAL HIGHLIGHTS	NOTE 6 – FINANCIAL HIGHLIGHTS Financial Highlights Year Ended December 31, 2021 NAV Beginning of Period Net Investment Income/Loss* Net Realized and Unrealized Gain/Loss Total from Operations Distributions from Net Investment Income Total Distributions NAV End of Period Total Return (1) Market Price Net Assets End of Period (000) Ratio of Expenses to Average Net Assets Ratio of Expenses to Average Net Assets (Excluding Waivers) Ratio of Net Investment Income/Loss to Average Net Assets Portfolio Turnover U.S. Equity Cumulative Dividends Fund–Series 2027 2021 $ 9.39 $ (0.04 ) $ 1.56 $ 1.52 $ (1.40 ) $ (1.40 ) $ 9.51 16.75 % $ 10.20 $ 33,762 0.87 % 0.87 % -0.41 % 12 % * Per share data calculated using average shares method. Amounts designated as “-” are $0. Financial Highlights For the period from January 1, 2021 to December 17, 2021 (date of liquidation) NAV Beginning of Period Net Investment Income/Loss* Net Realized and Unrealized Gain/Loss Total from Operations Distributions from Net Investment Income Total Distributions Liquidating NAV Total Return (1) Market Price Net Assets End of Period (000) Ratio of Expenses to Average Net Assets Ratio of Expenses to Average Net Assets (Excluding Waivers) Ratio of Net Investment Income/Loss to Average Net Assets Portfolio Turnover U.S. Equity Ex-Dividend Fund–Series 2027 2021 $ 83.94 $ (0.54 ) $ 22.93 $ 22.39 $ - $ - $ 106.32 26.67 % $ - $ - 0.58 % 0.58 % -0.60 % 0 % * Per share data calculated using average shares method. Amounts designated as “-” are $0. Financial Highlights Year Ended December 31, 2020 NAV Beginning of Period Net Investment Income/Loss* Net Realized and Unrealized Gain/Loss Total from Operations Distributions from Net Investment Income Total Distributions NAV End of Period Total Return (1) Market Price Net Assets End of Period (000) Ratio of Expenses to Average Net Assets Ratio of Ratio of Net Investment Income/Loss to Average Net Assets Portfolio Turnover U.S. Equity Cumulative Dividends Fund–Series 2027 2020 $ 11.85 $ - $ (1.12 ) $ (1.12 ) $ (1.34 ) $ (1.34 ) $ 9.39 -8.75 % $ 10.08 $ 19,714 0.87 % 0.87 % -0.01 % 100 % U.S. Equity Ex-Dividend Fund–Series 2027 2020 $ 67.35 $ (0.13 ) $ 16.72 $ 16.59 $ - $ - $ 83.94 24.63 % $ 84.13 $ 33,575 0.58 % 0.58 % -0.19 % 0 % * Per share data calculated using average shares method. Amounts designated as “-” are $0. Financial Highlights Year Ended December 31, 2019 Ratio of Net Expenses Ratio of Realized Distributions Net Assets Ratio of to Average Net Investment NAV Net and Total from Net NAV End of Expenses to Net Assets Income/Loss to Beginning Investment Unrealized from Investment Total End of Total Market Period Average (Excluding Average Portfolio of Period Income/Loss* Gain/Loss Operations Income Distributions Period Return (1) Price (000) Net Assets Waivers) Net Assets Turnover U.S. Equity Cumulative Dividends Fund–Series 2027 2019 $ 11.32 $ 0.13 $ 1.70 $ 1.83 $ (1.30 ) $ (1.30 ) $ 11.85 16.72 % $ 11.88 $ 24,291 0.84 % 1.51 % 1.10 % 27 % U.S. Equity Ex-Dividend Fund–Series 2027 2019 $ 49.98 $ 0.83 $ 16.54 $ 17.37 $ - $ - $ 67.35 34.75 % $ 67.04 $ 26,942 0.76 % 1.02 % 1.38 % 0 % * Per share data calculated using average shares method. Amounts designated as “-” are $0.

Risk

Risk	12 Months Ended
	Dec. 31, 2021
Risks and Uncertainties [Abstract]
RISK	NOTE 7 – 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 a shareholder to pay brokerage commissions and expose a shareholder 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 at the end of 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 specify 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. Substantial Interests of each Fund are Held by a Small Number of Investors and Authorized Participants. A substantial portion of the Shares of each Fund are held by a small number of investors, Beneficial Owners and Authorized Participants. Additionally, at any future time, and from time to time, a substantial portion of the Shares of either Fund may be held by one or a small number of investors, Beneficial Owners and/or Authorized Participants. In the event of substantial redemptions of Shares by one or more of these persons the Shares could be impacted adversely. 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. Natural Disaster/Epidemic Risk Natural or environmental disasters, such as earthquakes, fires, floods, hurricanes, tsunamis and other severe weather-related phenomena generally, and widespread disease, including pandemics and epidemics (for example, the novel coronavirus COVID-19), have been and can be highly disruptive to economies and markets and have recently led, and may continue to lead, to increased market volatility and significant market losses. Such natural disaster and health crises could exacerbate political, social, and economic risks previously mentioned, and result in significant breakdowns, delays, shutdowns, social isolation, and other disruptions to important global, local and regional supply chains affected, with potential corresponding results on the operating performance of the Funds. A climate of uncertainty and panic, including the contagion of infectious viruses or diseases, may adversely affect global, regional, and local economies. These circumstances may adversely impact the Funds’ performance. Further, such events can be highly disruptive to economies and markets, significantly disrupt the operations of individual companies (including, but not limited to, the Funds’ Sponsor and third-party service providers), sectors, industries, markets, securities and commodity exchanges, currencies, interest and inflation rates, credit ratings, investor sentiment, and other factors affecting the value of the Funds’ Underlying Indexes. These factors can cause substantial market volatility, exchange trading suspensions and closures, changes in the availability of and the margin requirements for certain instruments, and can impact the ability of the Funds to complete redemptions and otherwise affect the Funds’ performance and the Funds’ trading in the secondary market. A widespread crisis may also affect the global economy in ways that cannot necessarily be foreseen at the current time. How long such events will last and whether they will continue or recur cannot be predicted. Impacts from these could have a significant impact on the Funds’ performance, resulting in losses to your investment. Risk that Current Assumptions and Expectations Could Become Outdated as a Result of Global Economic Shock The onset of the novel coronavirus (COVID-19) and subsequent variants thereof has caused significant shocks to global financial markets and economies, with many governments taking extreme actions to slow and contain the spread of COVID-19. These actions have had, and likely will continue to have, a severe economic impact on global economies as economic activity in some instances has essentially ceased. Financial markets across the globe experienced severe distress at least equal to what was experienced during the global financial crisis in 2008. In March 2020, U.S. equity markets entered a bear market in the fastest such move in the history of U.S. financial markets. Contemporaneous with the onset of the COVID-19 pandemic in the US, oil experienced shocks to supply and demand, impacting the price and volatility of oil. The global economic shocks being experienced as of the date hereof may result in significant losses to your investment. During certain periods of the COVID-19 pandemic, federal, state and local governments enacted various measures, including restricted travel and stay-at-home/shelter-at-home orders. The Sponsor cannot determine or predict what impact such measures may have now or in the future on the Sponsor’s ability to operate or conduct day-to-day activities. COVID-19 may cause key personnel of the Sponsor to be absent from work or work remotely for prolonged periods of time. The ability of any such personnel to work effectively on a remote basis may adversely impact the day-to-day operations of the Fund or its net performance. Any future outbreak or pandemic could also have potential adverse effects on the global economy, the Sponsor or the Fund in ways the Sponsor cannot predict or anticipate

Subsequent Events

Subsequent Events	12 Months Ended
	Dec. 31, 2021
Subsequent Events [Abstract]
SUBSEQUENT EVENTS	NOTE 8 – 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.

Accounting Policies, by Policy

Accounting Policies, by Policy (Policies)	12 Months Ended
	Dec. 31, 2021
Accounting Policies [Abstract]
Use of Estimates	Use of Estimates 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 investment income and expenses during the reporting period. Actual results could differ from those estimates.
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 fulfill 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 IDIV Fund at December 31, 2021, 2020 and 2019 are held at Brown Brothers, Harriman & Co., and Morgan Stanley & Co. LLC.
Final Net Asset Value for Fiscal Period	Final Net Asset Value for Fiscal Period The 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 are determined as soon as practicable after the close of regular trading of the Shares on the NYSE Arca 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. SEI Investments Global Fund Services, Inc., the administrator of the ETFs is responsible for making these determinations.
Fair Value of Financial Instruments	Fair Value of Financial Instruments Security Valuation — The Funds value investments and financial instruments at fair value. 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, in the case of the futures contracts held by the Funds, at the daily settlement price published by the Chicago Mercantile Exchange for such futures contracts. For securities traded on NASDAQ, the NASDAQ Official Closing Price will be used. Treasury Securities held by the Funds generally are priced based upon valuations provided by independent, third-party pricing agents. 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 Advisor 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 NAV, 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 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 summarizes the inputs used to value the Funds’ investments at December 31, 2021 and December 31, 2020 using the fair value hierarchy: U.S. Equity Cumulative Dividends Fund–Series 2027 December 31, 2021 Investments in Securities Level 1 Level 2 Level 3 Total U.S. Treasury Obligations $ - $ 33,020,279 $ - $ 33,020,279 Total Investments in Securities $ - $ 33,020,279 $ - $ 33,020,279 Other Financial Instruments Level 1 Level 2 Level 3 Total Futures Contracts* Unrealized Appreciation $ 1,468,182 $ - $ - $ 1,468,182 Unrealized Depreciation - - - - Total Other Financial Instruments $ 1,468,182 $ - $ - $ 1,468,182 * Futures contracts are valued at unrealized appreciation (depreciation) on the instrument. Amounts designated as “-” are $0. U.S. Equity Cumulative Dividends Fund–Series 2027 December 31, 2020 Investments in Securities Level 1 Level 2 Level 3 Total U.S. Treasury Obligations $ - $ 18,835,724 $ - $ 18,835,724 Total Investments in Securities $ - $ 18,835,724 $ - $ 18,835,724 Other Financial Instruments Level 1 Level 2 Level 3 Total Futures Contracts* Unrealized Appreciation $ - $ - $ - $ - Unrealized Depreciation $ (2,915,316 ) $ - $ - $ (2,915,316 ) Total Other Financial Instruments $ (2,915,316 ) $ - $ - $ (2,915,316 ) * Futures contracts are valued at unrealized appreciation (depreciation) on the instrument. Amounts designated as “-” are $0. U.S. Equity Ex-Dividend Fund–Series 2027 December 31, 2020 Investments in Securities Level 1 Level 2 Level 3 Total U.S. Treasury Obligations $ - $ 31,392,285 $ - $ 31,392,285 Total Investments in Securities $ - $ 31,392,285 $ - $ 31,392,285 Other Financial Instruments Level 1 Level 2 Level 3 Total Futures Contracts* Unrealized Appreciation $ 1,370,127 $ - $ - $ 1,370,127 Unrealized Depreciation - - - - Total Other Financial Instruments $ 1,370,127 $ - $ - $ 1,370,127 * Futures contracts are valued at unrealized appreciation (depreciation) on the instrument. 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. Discounts and premiums on securities purchased are amortized or accreted using the effective interest method. Realized gains and losses from securities transactions and unrealized appreciation and depreciation of securities are determined using the identified cost basis method 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 National Futures Association (“NFA”) fees) that are not related to the creation and redemption of Baskets. Brokerage commissions on futures contracts are recognized on a half-turn basis (e.g., the first half is recognized when the contract is opened and the second half is recognized when the contract is closed).
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 U.S. federal jurisdiction and may file income tax returns in various U.S. 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 period. At December 31, 2021 and December 31, 2020, 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 U.S. federal, 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 U.S. federal and state income tax returns, as income tax expenses on their Statements of Operations. For the years ended December 31, 2021, 2020, and 2019, 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 did not make periodic distributions prior to its liquidation.

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Tables)	12 Months Ended
	Dec. 31, 2021
Accounting Policies [Abstract]
Schedule of inputs used to value the funds' investments using the fair value hierarchy	Investments in Securities Level 1 Level 2 Level 3 Total U.S. Treasury Obligations $ - $ 33,020,279 $ - $ 33,020,279 Total Investments in Securities $ - $ 33,020,279 $ - $ 33,020,279 Other Financial Instruments Level 1 Level 2 Level 3 Total Futures Contracts* Unrealized Appreciation $ 1,468,182 $ - $ - $ 1,468,182 Unrealized Depreciation - - - - Total Other Financial Instruments $ 1,468,182 $ - $ - $ 1,468,182 Investments in Securities Level 1 Level 2 Level 3 Total U.S. Treasury Obligations $ - $ 18,835,724 $ - $ 18,835,724 Total Investments in Securities $ - $ 18,835,724 $ - $ 18,835,724 Other Financial Instruments Level 1 Level 2 Level 3 Total Futures Contracts* Unrealized Appreciation $ - $ - $ - $ - Unrealized Depreciation $ (2,915,316 ) $ - $ - $ (2,915,316 ) Total Other Financial Instruments $ (2,915,316 ) $ - $ - $ (2,915,316 ) Investments in Securities Level 1 Level 2 Level 3 Total U.S. Treasury Obligations $ - $ 31,392,285 $ - $ 31,392,285 Total Investments in Securities $ - $ 31,392,285 $ - $ 31,392,285 Other Financial Instruments Level 1 Level 2 Level 3 Total Futures Contracts* Unrealized Appreciation $ 1,370,127 $ - $ - $ 1,370,127 Unrealized Depreciation - - - - Total Other Financial Instruments $ 1,370,127 $ - $ - $ 1,370,127

Investments (Tables)

Investments (Tables)	12 Months Ended
	Dec. 31, 2021
Investments [Abstract]
Schedule of futures contracts	Derivative Notional Amount Long futures contracts $ 30,755,632 The average volume of futures contracts for XDIV for the period ended December 17, 2021 (liquidation date) are as follows: Derivative Notional Amount Long futures contracts $ 39,281,601 Short futures contracts $ (4,443,139 ) Derivative Notional Amount Long futures contracts $ 25,837,277 Derivative Notional Amount Long futures contracts $ 31,304,448 Short futures contracts $ (5,154,406 )
Schedule of offsetting assets and liabilities	Gross Amounts of Gross Amounts Offset in the Statement of Net Amounts Presented in the Statement of Gross Amounts Not Offset in the Recognized Financial Financial Financial Cash Collateral Net Derivative Assets Futures Contracts $ 88,750 $ - $ 88,750 $   - $ - $ 88,750 Total $ 88,750 $ - $ 88,750 $ - $ - $ 88,750 Gross Amounts of Gross Amounts Offset in the Statement of Net Amounts Presented in the Statement of Gross Amounts Not Offset in the Recognized Financial Financial Financial Cash Collateral Net Derivative Liabilities Futures Contracts $ (22,188 ) $ - $ (22,188 ) $ - $ 22,188 $ - Total $ (22,188 ) $ - $ (22,188 ) $ - $ 22,188 $ - Gross Amounts of Gross Amounts Offset in the Statement of Net Amounts Presented in the Statement of Gross Amounts Not Offset in the Recognized Assets Financial Financial Financial Cash Collateral Net Derivative Assets Futures Contracts $ 31,500 $ - $ 31,500 $ - $ - $ 31,500 Total $ 31,500 $ - $ 31,500 $ - $ - $ 31,500 Gross Amounts of Gross Amounts Offset in the Statement of Net Amounts Presented in the Statement of Gross Amounts Not Offset in the Recognized Liabilities Financial Financial Financial Cash Collateral Net Derivative Liabilities Futures Contracts $ (26,250 ) $ - $ (26,250 ) $ - $ 26,250 $ - Total $ (26,250 ) $ - $ (26,250 ) $ - $ 26,250 $ - Gross Amounts of Gross Amounts Offset in the Statement of Net Amounts Presented in the Statement of Gross Amounts Not Offset in the Recognized Assets Financial Financial Financial Cash Collateral Net Derivative Assets Futures Contracts $ 251,000 $ - $ 251,000 $ - $ - $ 251,000 Total $ 251,000 $ - $ 251,000 $ - $ - $ 251,000 Gross Amounts of Gross Amounts Offset in the Statement of Net Amounts Presented in the Statement of Gross Amounts Not Offset in the Recognized Liabilities Financial Financial Financial Cash Collateral Net Derivative Liabilities Futures Contracts $ (6,000 ) $ - $ (6,000 ) $ - $ 6,000 $ - Total $ (6,000 ) $ - $ (6,000 ) $ - $ 6,000 $ -

Financial Highlights (Tables)

Financial Highlights (Tables)	12 Months Ended
	Dec. 31, 2021
Investment Company, Financial Highlights [Abstract]
Schedule of financial highlights	NAV Beginning of Period Net Investment Income/Loss* Net Realized and Unrealized Gain/Loss Total from Operations Distributions from Net Investment Income Total Distributions NAV End of Period Total Return (1) Market Price Net Assets End of Period (000) Ratio of Expenses to Average Net Assets Ratio of Expenses to Average Net Assets (Excluding Waivers) Ratio of Net Investment Income/Loss to Average Net Assets Portfolio Turnover U.S. Equity Cumulative Dividends Fund–Series 2027 2021 $ 9.39 $ (0.04 ) $ 1.56 $ 1.52 $ (1.40 ) $ (1.40 ) $ 9.51 16.75 % $ 10.20 $ 33,762 0.87 % 0.87 % -0.41 % 12 % NAV Beginning of Period Net Investment Income/Loss* Net Realized and Unrealized Gain/Loss Total from Operations Distributions from Net Investment Income Total Distributions Liquidating NAV Total Return (1) Market Price Net Assets End of Period (000) Ratio of Expenses to Average Net Assets Ratio of Expenses to Average Net Assets (Excluding Waivers) Ratio of Net Investment Income/Loss to Average Net Assets Portfolio Turnover U.S. Equity Ex-Dividend Fund–Series 2027 2021 $ 83.94 $ (0.54 ) $ 22.93 $ 22.39 $ - $ - $ 106.32 26.67 % $ - $ - 0.58 % 0.58 % -0.60 % 0 % NAV Beginning of Period Net Investment Income/Loss* Net Realized and Unrealized Gain/Loss Total from Operations Distributions from Net Investment Income Total Distributions NAV End of Period Total Return (1) Market Price Net Assets End of Period (000) Ratio of Expenses to Average Net Assets Ratio of Ratio of Net Investment Income/Loss to Average Net Assets Portfolio Turnover U.S. Equity Cumulative Dividends Fund–Series 2027 2020 $ 11.85 $ - $ (1.12 ) $ (1.12 ) $ (1.34 ) $ (1.34 ) $ 9.39 -8.75 % $ 10.08 $ 19,714 0.87 % 0.87 % -0.01 % 100 % U.S. Equity Ex-Dividend Fund–Series 2027 2020 $ 67.35 $ (0.13 ) $ 16.72 $ 16.59 $ - $ - $ 83.94 24.63 % $ 84.13 $ 33,575 0.58 % 0.58 % -0.19 % 0 % Ratio of Net Expenses Ratio of Realized Distributions Net Assets Ratio of to Average Net Investment NAV Net and Total from Net NAV End of Expenses to Net Assets Income/Loss to Beginning Investment Unrealized from Investment Total End of Total Market Period Average (Excluding Average Portfolio of Period Income/Loss* Gain/Loss Operations Income Distributions Period Return (1) Price (000) Net Assets Waivers) Net Assets Turnover U.S. Equity Cumulative Dividends Fund–Series 2027 2019 $ 11.32 $ 0.13 $ 1.70 $ 1.83 $ (1.30 ) $ (1.30 ) $ 11.85 16.72 % $ 11.88 $ 24,291 0.84 % 1.51 % 1.10 % 27 % U.S. Equity Ex-Dividend Fund–Series 2027 2019 $ 49.98 $ 0.83 $ 16.54 $ 17.37 $ - $ - $ 67.35 34.75 % $ 67.04 $ 26,942 0.76 % 1.02 % 1.38 % 0 %

Schedules of Investments (Detai

Schedules of Investments (Details) - USD ($)	Dec. 31, 2021	Dec. 31, 2020
U.S. Equity Cumulative Dividends Fund─Series 2027
Schedules of Investments (Details) [Line Items]
Net assets	$ 33,762,330	$ 19,713,753
Market value	$ 9,575,159	$ 10,797,858
Net assets	28.00%	54.80%
U.S. Equity Ex-Dividend Fund-Series 2027
Schedules of Investments (Details) [Line Items]
Net assets		$ 33,575,230
Market value		$ 22,393,280
Net assets		66.70%

Schedules of Investments (Det_2

Schedules of Investments (Details) - Schedule of investments - U.S. Equity Cumulative Dividends Fund-Series 2027 - USD ($)		12 Months Ended
		Dec. 31, 2021		Dec. 31, 2020
U.S. TREASURY OBLIGATIONS - 97.8%
Total U.S. Treasury Obligations		$ 33,020,279		$ 18,835,724
Total Investments		33,020,279		18,835,724
2.125%, 12/31/2022
U.S. TREASURY OBLIGATIONS - 97.8%
Principal Amount		4,599,000	[1]	2,438,000	[2]
Total U.S. Treasury Obligations		4,675,350	[1]	2,535,139	[2]
2.250%, 12/31/2023
U.S. TREASURY OBLIGATIONS - 97.8%
Principal Amount		4,971,000	[1]	2,441,000	[2]
Total U.S. Treasury Obligations		5,120,324	[1]	2,593,372	[2]
2.250%, 11/15/2024
U.S. TREASURY OBLIGATIONS - 97.8%
Principal Amount		5,256,000	[1]	2,541,000	[2]
Total U.S. Treasury Obligations		5,449,610	[1]	2,737,729	[2]
2.250%, 11/15/2025
U.S. TREASURY OBLIGATIONS - 97.8%
Principal Amount		5,472,000	[1]	2,532,000	[2]
Total U.S. Treasury Obligations		5,701,140	[1]	2,765,122	[2]
2.000%, 11/15/2026
U.S. TREASURY OBLIGATIONS - 97.8%
Principal Amount		5,699,000	[1]	2,586,000	[2]
Total U.S. Treasury Obligations		5,896,016	[1]	2,814,598	[2]
2.250%, 11/15/2027
U.S. TREASURY OBLIGATIONS - 97.8%
Principal Amount		5,883,000	[1]	2,650,000	[2]
Total U.S. Treasury Obligations		$ 6,177,839	[1]	2,941,655	[2]
2.000%, 12/31/2021
U.S. TREASURY OBLIGATIONS - 97.8%
Principal Amount	[2]			2,403,000
Total U.S. Treasury Obligations	[2]			$ 2,448,109
[1]	Security, or a portion of, has been pledged as collateral for the trading of futures contracts. The market value of the securities pledged as collateral for the period ended December 31, 2021 was $9,575,159 or 28% of net assets.
[2]	Security, or a portion of, has been pledged as collateral for the trading of futures contracts. The market value of the securities pledged as collateral for the period ended December 31, 2020 was $10,797,858 or 54.8% of net assets.

Schedules of Investments (Det_3

Schedules of Investments (Details) - Schedule of investments (Parentheticals) - U.S. Equity Cumulative Dividends Fund-Series 2027 - USD ($)	Dec. 31, 2021	Dec. 31, 2020
Investments [Member]
Investments in and Advances to Affiliates [Line Items]
Cost, total (in Dollars)	$ 33,581,572	$ 18,746,186
Investment percentage	97.80%	95.50%
U.S. Treasury Obligations [Member]
Investments in and Advances to Affiliates [Line Items]
Cost, total (in Dollars)	$ 33,581,572	$ 18,746,186
2.125%, 12/31/2022
Investments in and Advances to Affiliates [Line Items]
Coupon rate for this security	2.125%	2.125%
2.250%, 12/31/2023
Investments in and Advances to Affiliates [Line Items]
Coupon rate for this security	2.25%	2.25%
2.250%, 11/15/2024
Investments in and Advances to Affiliates [Line Items]
Coupon rate for this security	2.25%	2.25%
2.250%, 11/15/2025
Investments in and Advances to Affiliates [Line Items]
Coupon rate for this security	2.25%	2.25%
2.000%, 11/15/2026
Investments in and Advances to Affiliates [Line Items]
Coupon rate for this security	2.00%	2.00%
2.250%, 11/15/2027
Investments in and Advances to Affiliates [Line Items]
Coupon rate for this security	2.25%	2.25%
2.000%, 12/31/2021
Investments in and Advances to Affiliates [Line Items]
Coupon rate for this security		2.00%

Schedules of Investments (Det_4

Schedules of Investments (Details) - Schedule of future contracts held by fund - U.S. Equity Cumulative Dividends Fund—Series 2027	12 Months Ended
	Dec. 31, 2021USD ($)	Dec. 31, 2020USD ($)
Schedules of Investments (Details) - Schedule of future contracts held by fund [Line Items]
Net Unrealized Appreciation (Depreciation)	$ 1,468,182	$ (2,915,316)
S&P 500 Annl Div Dec22
Schedules of Investments (Details) - Schedule of future contracts held by fund [Line Items]
Number of Contracts Long	355	210
Expiration Date	12/19/2022	12/19/2022
Notional Amount	$ 5,480,126	$ 3,232,545
Notional Value	5,604,563	2,942,625
Unrealized Appreciation (Depreciation)	$ 124,437	$ (289,920)
S&P 500 Annl Div Dec23
Schedules of Investments (Details) - Schedule of future contracts held by fund [Line Items]
Number of Contracts Long	355	210
Expiration Date	12/18/2023	12/18/2023
Notional Amount	$ 5,599,626	$ 3,287,608
Notional Value	5,808,688	2,942,625
Unrealized Appreciation (Depreciation)	$ 209,062	$ (344,983)
S&P 500 Annl Div Dec24
Schedules of Investments (Details) - Schedule of future contracts held by fund [Line Items]
Number of Contracts Long	355	210
Expiration Date	12/23/2024	12/23/2024
Notional Amount	$ 5,686,501	$ 3,344,545
Notional Value	5,919,625	2,932,125
Unrealized Appreciation (Depreciation)	$ 233,124	$ (412,420)
S&P 500 Annl Div Dec25
Schedules of Investments (Details) - Schedule of future contracts held by fund [Line Items]
Number of Contracts Long	355	210
Expiration Date	12/22/2025	12/22/2025
Notional Amount	$ 5,775,251	$ 3,414,608
Notional Value	6,061,625	2,924,250
Unrealized Appreciation (Depreciation)	$ 286,374	$ (490,358)
S&P 500 Annl Div Dec26
Schedules of Investments (Details) - Schedule of future contracts held by fund [Line Items]
Number of Contracts Long	355	210
Expiration Date	12/21/2026	12/21/2026
Notional Amount	$ 5,872,001	$ 3,485,732
Notional Value	6,172,562	2,934,750
Unrealized Appreciation (Depreciation)	$ 300,561	$ (550,982)
S&P 500 Annl Div Dec27
Schedules of Investments (Details) - Schedule of future contracts held by fund [Line Items]
Number of Contracts Long	355	210
Expiration Date	12/20/2027	12/20/2027
Notional Amount	$ 5,960,001	$ 3,552,170
Notional Value	6,274,625	2,945,250
Unrealized Appreciation (Depreciation)	$ 314,624	$ (606,920)
S&P 500 Annl Div Dec21
Schedules of Investments (Details) - Schedule of future contracts held by fund [Line Items]
Number of Contracts Long		210
Expiration Date		12/20/2021
Notional Amount		$ 3,175,483
Notional Value		2,955,750
Unrealized Appreciation (Depreciation)		$ (219,733)

Schedules of Investments (Det_5

Schedules of Investments (Details) - Schedules of investments - U.S. Equity Ex-Dividends Index-Series 2027 [Member]	12 Months Ended
	Dec. 31, 2020USD ($)
U.S. TREASURY OBLIGATIONS - 93.5%
Principal Amount	$ 31,400,000	[1],[2]
U.S. Treasury Obligations	31,392,285	[1],[2]
Total U.S. Treasury Obligations	31,392,285
Total Investments	$ 31,392,285
[1]	Security, or a portion of, has been pledged as collateral for the trading of futures contracts. The market value of the securities pledged as collateral for the period ended December 31, 2020 was $22,393,280 or 66.7% of net assets.
[2]	Zero coupon security. The rate reported on the Schedule of Investments is the effective yield at time of purchase.

Schedules of Investments (Det_6

Schedules of Investments (Details) - Schedules of investments (Parentheticals) - U.S. Equity Ex-Dividends Index-Series 2027 [Member]	Dec. 31, 2020USD ($)
Investments in and Advances to Affiliates [Line Items]
Investment percentage	93.50%
Cost	$ 31,389,680
U.S. Treasury Obligations [Member]
Investments in and Advances to Affiliates [Line Items]
Investment percentage	0.095%
Cost	$ 31,389,680

Schedules of Investments (Det_7

Schedules of Investments (Details) - Schedule of future contracts held by fund - U.S. Equity Ex-Dividend Fund—Series 2027	12 Months Ended
	Dec. 31, 2020USD ($)
Schedules of Investments (Details) - Schedule of future contracts held by fund [Line Items]
Unrealized Appreciation (Depreciation), Net	$ 1,370,127
S&P 500 Annl Div Dec21
Schedules of Investments (Details) - Schedule of future contracts held by fund [Line Items]
Number of Contracts Long/(Short)	(40)
Expiration Date	12/20/2021
Notional Amount	$ (613,816)
Notional Value	(563,000)
Unrealized Appreciation (Depreciation), Net	$ 50,816
S&P 500 Annl Div Dec22
Schedules of Investments (Details) - Schedule of future contracts held by fund [Line Items]
Number of Contracts Long/(Short)	(40)
Expiration Date	12/19/2022
Notional Amount	$ (631,004)
Notional Value	(560,500)
Unrealized Appreciation (Depreciation), Net	$ 70,504
S&P 500 Annl Div Dec23
Schedules of Investments (Details) - Schedule of future contracts held by fund [Line Items]
Number of Contracts Long/(Short)	(40)
Expiration Date	12/18/2023
Notional Amount	$ (644,691)
Notional Value	(560,500)
Unrealized Appreciation (Depreciation), Net	$ 84,191
S&P 500 Annl Div Dec24
Schedules of Investments (Details) - Schedule of future contracts held by fund [Line Items]
Number of Contracts Long/(Short)	(40)
Expiration Date	12/23/2024
Notional Amount	$ (660,316)
Notional Value	(558,500)
Unrealized Appreciation (Depreciation), Net	$ 101,816
S&P 500 Annl Div Dec25
Schedules of Investments (Details) - Schedule of future contracts held by fund [Line Items]
Number of Contracts Long/(Short)	(40)
Expiration Date	12/22/2025
Notional Amount	$ (673,566)
Notional Value	(557,000)
Unrealized Appreciation (Depreciation), Net	$ 116,566
S&P 500 Annl Div Dec26
Schedules of Investments (Details) - Schedule of future contracts held by fund [Line Items]
Number of Contracts Long/(Short)	(40)
Expiration Date	12/21/2026
Notional Amount	$ (687,629)
Notional Value	(559,000)
Unrealized Appreciation (Depreciation), Net	$ 128,629
S&P 500 Annl Div Dec27
Schedules of Investments (Details) - Schedule of future contracts held by fund [Line Items]
Number of Contracts Long/(Short)	(40)
Expiration Date	12/20/2027
Notional Amount	$ (702,317)
Notional Value	(561,000)
Unrealized Appreciation (Depreciation), Net	$ 141,317
E-mini S&P 500 Index Mar 21
Schedules of Investments (Details) - Schedule of future contracts held by fund [Line Items]
Number of Contracts Long/(Short)	200
Expiration Date	03/22/2021
Notional Amount	$ 36,811,712
Notional Value	37,488,000
Unrealized Appreciation (Depreciation), Net	$ 676,288

Organization (Details)

Organization (Details) - USD ($)	Dec. 22, 2017	Dec. 31, 2021
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 Shares, called “Baskets” as set forth in the ETFs’ current Prospectus and any prospectus supplements thereto. 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 Accoun_3

Summary of Significant Accounting Policies (Details) - USD ($)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
U.S. Equity Cumulative Dividends Fund-Series 2027
Summary of Significant Accounting Policies (Details) [Line Items]
Designated amounts	$ 0
U.S. Equity Ex-Dividend Fund-Series 2027
Summary of Significant Accounting Policies (Details) [Line Items]
Designated amounts	$ 0	$ 0

Summary of Significant Accoun_4

Summary of Significant Accounting Policies (Details) - Schedule of inputs used to value the funds' investments using the fair value hierarchy - USD ($)		Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
U.S. Equity Cumulative Dividends Fund─Series 2027
Summary of Significant Accounting Policies (Details) - Schedule of inputs used to value the funds' investments using the fair value hierarchy [Line Items]
Total Investments in Securities		$ 33,020,279	$ 18,835,724
Total Other Financial Instruments	[1]	1,468,182	(2,915,316)
U.S. Equity Ex-Dividend Fund─Series 2027
Summary of Significant Accounting Policies (Details) - Schedule of inputs used to value the funds' investments using the fair value hierarchy [Line Items]
Total Investments in Securities			31,392,285
Total Other Financial Instruments	[1]			$ 1,370,127
US Treasury obligations [Member] | U.S. Equity Cumulative Dividends Fund─Series 2027
Summary of Significant Accounting Policies (Details) - Schedule of inputs used to value the funds' investments using the fair value hierarchy [Line Items]
Total Investments in Securities		33,020,279	18,835,724
US Treasury obligations [Member] | U.S. Equity Ex-Dividend Fund─Series 2027
Summary of Significant Accounting Policies (Details) - Schedule of inputs used to value the funds' investments using the fair value hierarchy [Line Items]
Total Investments in Securities			31,392,285
Unrealized Appreciation [Member] | U.S. Equity Cumulative Dividends Fund─Series 2027
Summary of Significant Accounting Policies (Details) - Schedule of inputs used to value the funds' investments using the fair value hierarchy [Line Items]
Total Other Financial Instruments	[1]	1,468,182
Unrealized Appreciation [Member] | U.S. Equity Ex-Dividend Fund─Series 2027
Summary of Significant Accounting Policies (Details) - Schedule of inputs used to value the funds' investments using the fair value hierarchy [Line Items]
Total Other Financial Instruments	[1]			1,370,127
Unrealized Depreciation [Member] | U.S. Equity Cumulative Dividends Fund─Series 2027
Summary of Significant Accounting Policies (Details) - Schedule of inputs used to value the funds' investments using the fair value hierarchy [Line Items]
Total Other Financial Instruments	[1]		(2,915,316)
Unrealized Depreciation [Member] | U.S. Equity Ex-Dividend Fund─Series 2027
Summary of Significant Accounting Policies (Details) - Schedule of inputs used to value the funds' investments using the fair value hierarchy [Line Items]
Total Other Financial Instruments
Level 1 [Member] | U.S. Equity Cumulative Dividends Fund─Series 2027
Summary of Significant Accounting Policies (Details) - Schedule of inputs used to value the funds' investments using the fair value hierarchy [Line Items]
Total Investments in Securities
Total Other Financial Instruments	[1]	1,468,182	(2,915,316)
Level 1 [Member] | U.S. Equity Ex-Dividend Fund─Series 2027
Summary of Significant Accounting Policies (Details) - Schedule of inputs used to value the funds' investments using the fair value hierarchy [Line Items]
Total Investments in Securities
Total Other Financial Instruments	[1]			1,370,127
Level 1 [Member] | US Treasury obligations [Member] | U.S. Equity Cumulative Dividends Fund─Series 2027
Summary of Significant Accounting Policies (Details) - Schedule of inputs used to value the funds' investments using the fair value hierarchy [Line Items]
Total Investments in Securities
Level 1 [Member] | US Treasury obligations [Member] | U.S. Equity Ex-Dividend Fund─Series 2027
Summary of Significant Accounting Policies (Details) - Schedule of inputs used to value the funds' investments using the fair value hierarchy [Line Items]
Total Investments in Securities
Level 1 [Member] | Unrealized Appreciation [Member] | U.S. Equity Cumulative Dividends Fund─Series 2027
Summary of Significant Accounting Policies (Details) - Schedule of inputs used to value the funds' investments using the fair value hierarchy [Line Items]
Total Other Financial Instruments	[1]	1,468,182
Level 1 [Member] | Unrealized Appreciation [Member] | U.S. Equity Ex-Dividend Fund─Series 2027
Summary of Significant Accounting Policies (Details) - Schedule of inputs used to value the funds' investments using the fair value hierarchy [Line Items]
Total Other Financial Instruments	[1]			1,370,127
Level 1 [Member] | Unrealized Depreciation [Member] | U.S. Equity Cumulative Dividends Fund─Series 2027
Summary of Significant Accounting Policies (Details) - Schedule of inputs used to value the funds' investments using the fair value hierarchy [Line Items]
Total Other Financial Instruments	[1]		(2,915,316)
Level 1 [Member] | Unrealized Depreciation [Member] | U.S. Equity Ex-Dividend Fund─Series 2027
Summary of Significant Accounting Policies (Details) - Schedule of inputs used to value the funds' investments using the fair value hierarchy [Line Items]
Total Other Financial Instruments	[1]
Level 2 [Member] | U.S. Equity Cumulative Dividends Fund─Series 2027
Summary of Significant Accounting Policies (Details) - Schedule of inputs used to value the funds' investments using the fair value hierarchy [Line Items]
Total Investments in Securities		33,020,279	18,835,724
Total Other Financial Instruments	[1]
Level 2 [Member] | U.S. Equity Ex-Dividend Fund─Series 2027
Summary of Significant Accounting Policies (Details) - Schedule of inputs used to value the funds' investments using the fair value hierarchy [Line Items]
Total Investments in Securities			31,392,285
Total Other Financial Instruments	[1]
Level 2 [Member] | US Treasury obligations [Member] | U.S. Equity Cumulative Dividends Fund─Series 2027
Summary of Significant Accounting Policies (Details) - Schedule of inputs used to value the funds' investments using the fair value hierarchy [Line Items]
Total Investments in Securities		33,020,279	18,835,724
Level 2 [Member] | US Treasury obligations [Member] | U.S. Equity Ex-Dividend Fund─Series 2027
Summary of Significant Accounting Policies (Details) - Schedule of inputs used to value the funds' investments using the fair value hierarchy [Line Items]
Total Investments in Securities			31,392,285
Level 2 [Member] | Unrealized Appreciation [Member] | U.S. Equity Cumulative Dividends Fund─Series 2027
Summary of Significant Accounting Policies (Details) - Schedule of inputs used to value the funds' investments using the fair value hierarchy [Line Items]
Total Other Financial Instruments	[1]
Level 2 [Member] | Unrealized Appreciation [Member] | U.S. Equity Ex-Dividend Fund─Series 2027
Summary of Significant Accounting Policies (Details) - Schedule of inputs used to value the funds' investments using the fair value hierarchy [Line Items]
Total Other Financial Instruments	[1]
Level 2 [Member] | Unrealized Depreciation [Member] | U.S. Equity Cumulative Dividends Fund─Series 2027
Summary of Significant Accounting Policies (Details) - Schedule of inputs used to value the funds' investments using the fair value hierarchy [Line Items]
Total Other Financial Instruments	[1]
Level 2 [Member] | Unrealized Depreciation [Member] | U.S. Equity Ex-Dividend Fund─Series 2027
Summary of Significant Accounting Policies (Details) - Schedule of inputs used to value the funds' investments using the fair value hierarchy [Line Items]
Total Other Financial Instruments
Level 3 [Member] | U.S. Equity Cumulative Dividends Fund─Series 2027
Summary of Significant Accounting Policies (Details) - Schedule of inputs used to value the funds' investments using the fair value hierarchy [Line Items]
Total Investments in Securities
Total Other Financial Instruments	[1]
Level 3 [Member] | U.S. Equity Ex-Dividend Fund─Series 2027
Summary of Significant Accounting Policies (Details) - Schedule of inputs used to value the funds' investments using the fair value hierarchy [Line Items]
Total Investments in Securities
Total Other Financial Instruments	[1]
Level 3 [Member] | US Treasury obligations [Member] | U.S. Equity Cumulative Dividends Fund─Series 2027
Summary of Significant Accounting Policies (Details) - Schedule of inputs used to value the funds' investments using the fair value hierarchy [Line Items]
Total Investments in Securities
Level 3 [Member] | US Treasury obligations [Member] | U.S. Equity Ex-Dividend Fund─Series 2027
Summary of Significant Accounting Policies (Details) - Schedule of inputs used to value the funds' investments using the fair value hierarchy [Line Items]
Total Investments in Securities
Level 3 [Member] | Unrealized Appreciation [Member] | U.S. Equity Cumulative Dividends Fund─Series 2027
Summary of Significant Accounting Policies (Details) - Schedule of inputs used to value the funds' investments using the fair value hierarchy [Line Items]
Total Other Financial Instruments	[1]
Level 3 [Member] | Unrealized Appreciation [Member] | U.S. Equity Ex-Dividend Fund─Series 2027
Summary of Significant Accounting Policies (Details) - Schedule of inputs used to value the funds' investments using the fair value hierarchy [Line Items]
Total Other Financial Instruments	[1]
Level 3 [Member] | Unrealized Depreciation [Member] | U.S. Equity Cumulative Dividends Fund─Series 2027
Summary of Significant Accounting Policies (Details) - Schedule of inputs used to value the funds' investments using the fair value hierarchy [Line Items]
Total Other Financial Instruments	[1]
Level 3 [Member] | Unrealized Depreciation [Member] | U.S. Equity Ex-Dividend Fund─Series 2027
Summary of Significant Accounting Policies (Details) - Schedule of inputs used to value the funds' investments using the fair value hierarchy [Line Items]
Total Other Financial Instruments
[1]	Futures contracts are valued at unrealized appreciation (depreciation) on the instrument.

Investments (Details)

Investments (Details)	12 Months Ended
	Dec. 31, 2021
U.S. Cumulative Dividends Index-Series 2027 [Member]
Investments (Details) [Line Items]
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 Index, 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 (Details) [Line Items]
Description of ex-dividend fund seeks investment	The Ex-Dividend Fund sought investment results that, before fees and expenses, corresponded to the performance of the Solactive® U.S. Equity Ex-Dividends Index—Series 2027 (the “Solactive Ex-Dividend Index”). The Ex-Dividend Fund sought to track the Solactive Ex-Dividend Index so as to provide Shareholders with returns that were equivalent to the performance of 0.25 shares of SPDR S&P 500 exchange-traded fund (“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 exchange-traded fund that seeks to track the S&P 500. The Ex-Dividend Fund sought 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 intended to track the performance of the Solactive Ex-Dividend Index by selling S&P 500 Dividend Futures Contracts. The Ex-Dividend Fund also held Treasury Securities, cash and/or cash equivalents.

Investments (Details) - Schedul

Investments (Details) - Schedule of futures contracts - USD ($)	Dec. 31, 2021	Dec. 31, 2020
Long futures contracts [MEmber] | U.S. Equity Cumulative Dividends Fund─Series 2027
Investments (Details) - Schedule of futures contracts [Line Items]
Derivative, Notional Amount	$ 30,755,632	$ 25,837,277
Long futures contracts [MEmber] | U.S. Equity Ex-Dividend Fund─Series 2027
Investments (Details) - Schedule of futures contracts [Line Items]
Derivative, Notional Amount	39,281,601	31,304,448
Short futures contracts [Member] | U.S. Equity Ex-Dividend Fund─Series 2027
Investments (Details) - Schedule of futures contracts [Line Items]
Derivative, Notional Amount	$ (4,443,139)	$ (5,154,406)

Investments (Details) - Sched_2

Investments (Details) - Schedule of offsetting assets and liabilities - USD ($)		Dec. 31, 2021	Dec. 31, 2020
U.S. Equity Cumulative Dividends Fund-Series 2027
Derivative Assets
Gross Amounts of Recognized Assets		$ 88,750	$ 31,500
Gross Amounts Offset in the Statement of Financial Condition
Net Amounts Presented in the Statement of Financial Condition		88,750	31,500
Gross Amounts Not Offset in the Statement of Financial Condition, Financial Instruments	[1]
Gross Amounts Not Offset in the Statement of Financial Condition, Cash Collateral Pledged	[1]
Gross Amounts Not Offset in the Statement of Financial Condition, Net Amount		88,750	31,500
Gross Amounts of Recognized Liabilities		(22,188)	(26,250)
Gross Amounts Offset in the Statement of Financial Condition
Net Amounts Presented in the Statement of Financial Condition		(22,188)	(26,250)
Gross Amounts Not Offset in the Statement of Financial Condition, Financial Instruments				[1]
Gross Amounts Not Offset in the Statement of Financial Condition, Cash Collateral Pledged		22,188	26,250	[1]
Gross Amounts Not Offset in the Statement of Financial Condition, Net Amount
U.S. Equity Ex-Dividends Fund─Series 2027
Derivative Assets
Gross Amounts of Recognized Assets			251,000
Gross Amounts Offset in the Statement of Financial Condition
Net Amounts Presented in the Statement of Financial Condition			251,000
Gross Amounts Not Offset in the Statement of Financial Condition, Financial Instruments	[1]
Gross Amounts Not Offset in the Statement of Financial Condition, Cash Collateral Pledged	[1]
Gross Amounts Not Offset in the Statement of Financial Condition, Net Amount			251,000
Gross Amounts of Recognized Liabilities			(6,000)
Gross Amounts Offset in the Statement of Financial Condition
Net Amounts Presented in the Statement of Financial Condition			(6,000)
Gross Amounts Not Offset in the Statement of Financial Condition, Financial Instruments	[1]
Gross Amounts Not Offset in the Statement of Financial Condition, Cash Collateral Pledged	[1]		6,000
Gross Amounts Not Offset in the Statement of Financial Condition, Net Amount
Futures Contracts [Member] | U.S. Equity Cumulative Dividends Fund-Series 2027
Derivative Assets
Gross Amounts of Recognized Assets		88,750	31,500
Gross Amounts Offset in the Statement of Financial Condition
Net Amounts Presented in the Statement of Financial Condition		88,750	31,500
Gross Amounts Not Offset in the Statement of Financial Condition, Financial Instruments	[1]
Gross Amounts Not Offset in the Statement of Financial Condition, Cash Collateral Pledged	[1]
Gross Amounts Not Offset in the Statement of Financial Condition, Net Amount		88,750	31,500
Gross Amounts of Recognized Liabilities		(22,188)	(26,250)
Gross Amounts Offset in the Statement of Financial Condition
Net Amounts Presented in the Statement of Financial Condition		(22,188)	(26,250)
Gross Amounts Not Offset in the Statement of Financial Condition, Financial Instruments				[1]
Gross Amounts Not Offset in the Statement of Financial Condition, Cash Collateral Pledged		22,188	26,250	[1]
Gross Amounts Not Offset in the Statement of Financial Condition, Net Amount
Futures Contracts [Member] | U.S. Equity Ex-Dividends Fund─Series 2027
Derivative Assets
Gross Amounts of Recognized Assets			251,000
Gross Amounts Offset in the Statement of Financial Condition
Net Amounts Presented in the Statement of Financial Condition			251,000
Gross Amounts Not Offset in the Statement of Financial Condition, Financial Instruments	[1]
Gross Amounts Not Offset in the Statement of Financial Condition, Cash Collateral Pledged	[1]
Gross Amounts Not Offset in the Statement of Financial Condition, Net Amount			251,000
Gross Amounts of Recognized Liabilities			(6,000)
Gross Amounts Offset in the Statement of Financial Condition
Net Amounts Presented in the Statement of Financial Condition			(6,000)
Gross Amounts Not Offset in the Statement of Financial Condition, Financial Instruments	[1]
Gross Amounts Not Offset in the Statement of Financial Condition, Cash Collateral Pledged	[1]		6,000
Gross Amounts Not Offset in the Statement of Financial Condition, Net Amount
[1]	These amounts are limited to the derivatives asset/liability balance and, accordingly, do not include excess collateral received/pledged.

Agreements (Details)

Agreements (Details) - USD ($)	1 Months Ended	12 Months Ended
	May 16, 2019	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Agreements (Details) [Line Items]
Professional expenses	$ 150,000		$ 150,000	$ 150,000
Description of dividend fund reimbursement		The Dividend Fund and Ex-Dividend Fund reimbursed the Sponsor $13,065 and $13,892, respectively, for 2018 and reimbursed the Sponsor $4,627 and $4,511, respectively, for the amount accrued from January 1, 2019 through May 15, 2019. No additional repayments/reimbursements under the Reimbursement Agreements will be paid following the Funds’ adoption of the unitary fee structure effective May 16, 2019. As a result of the adoption of the unitary fee, the remaining unpaid balances under the Reimbursement Agreement of $106,808 and $106,097, for the Dividend Fund and Ex-Dividend Fund, respectively, will not be reimbursed to the Sponsor. The Sponsor agreed to absorb these unpaid balances and wrote off both the deferred offering costs and the related payable due to the Sponsor during the second quarter of 2019.
Dividend Fund [Member]
Agreements (Details) [Line Items]
Professional expenses			150,000
Voluntarily reimburse expenses			97,121	221,301
Description of dividend fund reimbursement	The Ex-Dividend Fund paid the Sponsor a Management Fee equal to 0.58% per year of the Ex-Dividend Fund’s average daily net assets, calculated and payable monthly in arrears, or pro rata for any partial month.
Percentage of management fee	0.87%
Ex-Dividend Fund [Member]
Agreements (Details) [Line Items]
Professional expenses			150,000
Voluntarily reimburse expenses			$ 51,310	$ 127,456
Percentage of management fee	0.58%

Creation and Redemption of Cr_2

Creation and Redemption of Creation Units (Details)	12 Months Ended
	Dec. 31, 2021
Creation and Redemption of Creation Units (Textual)
Additional variable charge	2.00%

Financial Highlights (Details)

Financial Highlights (Details) - USD ($)	Dec. 31, 2021	Dec. 17, 2021	Dec. 31, 2020	Dec. 31, 2019
Investment Company, Financial Highlights [Abstract]
Amounts designated	$ 0	$ 0	$ 0	$ 0

Financial Highlights (Details)

Financial Highlights (Details) - Schedule of financial highlights - USD ($)		12 Months Ended
		Dec. 31, 2021	Dec. 17, 2021	Dec. 31, 2020	Dec. 31, 2019
U.S. Equity Cumulative Dividends Fund—Series 2027
Investment Company, Financial Highlights [Line Items]
NAV Beginning of Period		$ 9.39	$ 9.39	$ 11.85	$ 11.32
Net Investment Income/Loss	[1]	(0.04)			0.13
Net Realized and Unrealized Gain/Loss		1.56		(1.12)	1.7
Total from Operations		1.52		(1.12)	1.83
Distributions from Net Investment Income		(1.4)		(1.34)	(1.3)
Total Distributions		(1.4)		(1.34)	(1.3)
NAV End of Period		$ 9.51		$ 9.39	$ 11.85
Total Return		16.75%		(8.75%)	16.72%
Market Price		$ 10.2		$ 10.08	$ 11.88
Net Assets End of Period (in Dollars)		$ 33,762		$ 19,714	$ 24,291
Ratio of Expenses to Average Net Assets		0.87%		0.87%	0.84%
Ratio of Expenses to Average Net Assets (Excluding Waivers		0.87%		0.87%	1.51%
Ratio of Net Investment Income/Loss to Average Net Assets		(0.41%)		(0.01%)	1.10%
Portfolio Turnover		12.00%		100.00%	27.00%
U.S. Equity Ex-Dividends Fund─Series 2027
Investment Company, Financial Highlights [Line Items]
NAV Beginning of Period		$ 83.94	83.94	$ 67.35	$ 49.98
Net Investment Income/Loss	[1]		(0.54)	(0.13)	0.83
Net Realized and Unrealized Gain/Loss			22.93	16.72	16.54
Total from Operations			22.39	16.59	17.37
Distributions from Net Investment Income
Total Distributions
NAV End of Period			$ 106.32	$ 83.94	$ 67.35
Total Return			26.67%	24.63%	34.75%
Market Price				$ 84.13	$ 67.04
Net Assets End of Period (in Dollars)				$ 33,575	$ 26,942
Ratio of Expenses to Average Net Assets			0.58%	0.58%	0.76%
Ratio of Expenses to Average Net Assets (Excluding Waivers			0.58%	0.58%	1.02%
Ratio of Net Investment Income/Loss to Average Net Assets			(0.60%)	(0.19%)	1.38%
Portfolio Turnover			0.00%	0.00%	0.00%
[1]	Per share data calculated using average shares method.