ETF Education Report: TILL

TILL (Teucrium Agricultural Strategy No K-1 ETF) is an ETF designed to provide exposure to agricultural strategies. Based on recent data, it has seen positive price growth over the last year, though its longer-term three-year performance has been negative.

What this ETF is trying to do

TILL is an exchange-traded fund that focuses on agricultural strategies. It is designed for investors who want a way to track the agricultural sector without the tax complexity of a K-1 form.

What the numbers show

The current price of TILL is $20.22. To understand how the price has moved, we can look at the price return (which tracks only the share price) and the total return (which includes distributions).

• Year-to-Date (YTD): The price return and total return are both 21.30%.

• One Year: The price return was 14.08%, while the total return was higher at 19.64%.

• Three Years: The price return was -42.44%, and the total return was -6.15%.

An estimated price from roughly one year ago was $17.72. This means that if you had invested $10,000 based on that estimated price, the value of those shares alone would be approximately $11,407.75 today.

Income and distribution explanation

TILL provides cash distributions to its investors, but they are not regular. The distribution frequency is listed as "Irregular / less frequent," with only one payout in the last 12 months.

The distribution yield is 4.09%. It is important for beginners to remember that a distribution yield is not the same as a total return. A yield tells you how much cash was paid out relative to the price, but it does not guarantee that the investment is growing or that your original principal is safe.

NAV erosion explanation

"NAV erosion" happens when the net asset value of a fund declines over time. The supplied data is sufficient to evaluate price erosion, but it does not include enough historical NAV-per-share data to confirm or rule out NAV erosion.

Regarding price-based evidence, TILL has an erosion score of 100, and the erosion label states "No price erosion detected." The erosion severity is rated as "good," and the severe erosion-risk flag is false.

Pros

• Recent Growth: The fund has shown strong positive price and total returns over the last year and year-to-date.

• Low Erosion Risk: Current measurements indicate no detected price erosion.

Cons

• Long-term Loss: The three-year total return is negative (-6.15%), and the three-year price return is significantly lower (-42.44%).

• Inconsistent Income: Distributions are irregular, making it less predictable for those relying on steady cash flow.

Beginner takeaway

TILL offers a way to invest in agricultural strategies with a "No K-1" structure. While it has recovered well over the last 12 months, its three-year history shows a significant decline in share price. Investors should note that the income provided is irregular and that high yields alone do not mean an investment is gaining value.