The ETF invests directly in carbon emission allowance futures and swap agreements, to provide economic exposure to Carbon Credits. It will initially obtain exposure to carbon credits that trade on the European Union Emission Trading System (EU ETS) and in the future, may provide exposure based on carbon credits that trade on other global ETS's as they develop and offer sufficient liquidity. The index and fund do not target a specific contract duration. Weighting of the underlying contracts occurs on the last trading day of the month with selection of the contracts occurring the following trading day. The closing level of the underlying index is based on the closing prices of the underlying contracts at the 4:00 pm London time WM Spot and Forward Fixings. The fund hedges currency exposure to CAD using one-month currency forward contracts. Additional positions in derivatives and swaps may be used to gain exposure or hedge overall portfolio exposure. Cash and cash equivalents or other money market instruments may be held in the portfolio to meet fund obligations.