NYSE: WGLD

A New Way to Invest in Gold

Fund Description

The Wilshire wShares Enhanced Gold Trust (the “Fund“ or “WGLD”) seeks to closely reflect the performance of the Wilshire Gold Index (the “Index”) less the Fund’s liabilities and expenses. WGLD rebalances physical gold and cash utilizing a rules-based methodology that automatically adapts to market conditions within the gold and US equity markets (the “S&P 500®”). The Index’s purpose is to seek to outperform a stand-alone investment in gold and reduce its risk profile without the use of any futures, leverage, or derivatives.

Index Overview

The objective of the Index is to seek to reduce the risk profile typically associated with the purchase of gold, as measured by the realized volatility of the LBMA Gold Price, while also generally increasing its exposure to gold during periods of heightened realized volatility as observed in the S&P 500®. The Index utilizes a passive, rules-based methodology that rebalances monthly.
The Wilshire Gold Index is nominated for Best New Index at the ETF.com Awards 2020*.

Why Invest in WGLD?

EASE OF ACCESS TO PHYSICAL GOLD

WGLD offers a new and efficient way to access the market for physical gold while maintaining the many benefits of exposure to physical gold. The Fund intends to serve as a piece of an overall investment portfolio.

SELF-ADAPTIVE STRATEGY

WGLD utilizes first-to-market technology to rebalance its exposure to physical gold based on a passive, rules-based system that automatically adapts to market conditions within the gold and US equity markets.

ATTRACTIVE RISK-ADJUSTED RETURNS

WGLD tracks the Index whose purpose is to seek to outperform a stand-alone investment in physical gold and reduce its risk profile without the use of any futures, leverage, or derivatives.

PERFORMANCE THROUGH INNOVATION

WGLD represents the next step for ETFs – offering Adaptive Exposure technology accessible by retail and institutional investors alike. wShares was named a Listmaker at the 2020 Benzinga Global Fintech Awards.**

Fund Details

Sponsor

Wilshire Phoenix Funds LLC

Inception

02/17/2021

Ticker

WGLD

Net Assets

$1,807,661.83

Primary Exchange

NYSE Arca

 

CUSIP

972005102

 

Index Ticker

WGIX

 

Shares Available

25,000,000

Index Calculation Agent

Solactive AG
 

Fund Administrator

BNY Mellon
 

Gold Custodian

J.P. Morgan
 

Expense Ratio

0.65%

FUND PRICE

Closing Price

$18.10

Daily Change

-$0.07

% Daily Change

-0.39%

Premium Discount

0.13%

Midpoint Bid/Ask

$18.10

Data as of 7/23/2021

NAV

Net Asset Value

$18.08

Daily Change

-$0.01

% Daily Change

-0.03%

Data as of 7/23/2021

Index Information

Index Level

800.17

Current Gold Weight

96.56%

Prior Month Gold Weight (June)

81.68%

Next Monthly Rebalance Date

7/30/21

Data as of 7/23/2021

Investor Materials

Wilshire wShares Enhanced Gold Trust (WGLD) Prospectus

Wilshire-wShares-Enhanced-Gold-Trust-Prospectus-06.21.21

Important Information and Risks

Important Information and Risks

Investors should consider the investment objectives, risks, charges and expenses carefully before investing. For a prospectus or summary prospectus with this and other information about the Fund, please call (or visit our website at staging.wshares.com. Read the prospectus or summary prospectus carefully before investing.

Wilshire wShares Enhanced Gold Trust (the “Trust”) has filed a registration statement, including a prospectus (the “Prospectus”), with the Securities and Exchange Commission (“SEC”) for the offering to which this communication relates. Before you invest, you should read the Prospectus and other documents the Trust has filed with the SEC for more complete information about the issuer and this offering. You may get these documents for free by visiting staging.wshares.com or EDGAR on the SEC’s website at www.sec.gov. Alternatively, you can request a Prospectus by calling (917) 671-9097.

The performance quoted for shares of the Trust (“Shares”) represents past performance. Past performance should not be considered indicative of future performance, and current performance may be lower or higher than the performance quoted. The Wilshire Gold Index (“Index”) has limited historical data and no operating history. The Index’s historical data may not be representative of the Index’s potential performance under other market conditions.

The Shares may trade at, above (a premium), or below (a discount) the net asset value (“NAV”) per Share and are not individually redeemed from the Trust. The NAV per Share will fluctuate with changes in the market value of the physical gold (“Physical Gold”) owned by the Trust. The price of gold is volatile and historical fluctuations in gold prices are not a reliable indicator of future gold price movements. There is no guarantee that the high trading price of gold will be sustained. The Share price reported under “WGLD” is not the same as the intraday indicative NAV (“INAV”); the INAV may vary significantly from the Share price, particularly during times of volatility of gold prices. The Index level calculated and published by approximately 7:00 p.m. (New York City time) under “WGIX” is not the same as the intraday indicative value for the Index (“IIV”); the IIV may vary significantly from the Index level, particularly during times of volatility in gold prices. An investment in the Shares may be adversely affected by competition from other methods of investing in commodities, and the availability of other gold products. The Trust may terminate and liquidate at a time that is disadvantageous to Shareholders. The Share price will fluctuate with changes in NAV per Share as well as market supply and demand. The amount of discount or premium in the Share price relative to NAV per Share may be affected by non-concurrent trading hours between NYSE Arca, Inc. (the “Exchange”) and major gold markets. While the Shares will trade on the Exchange until 4:00 pm (New York City time), liquidity in the market for Physical Gold may be reduced after the close of major world gold markets including London and other locations. Depending on the price at which an investor purchased its Shares and whether the Shares trade at a discount or a premium to NAV may affect the investor’s gain or loss on its investment in the Trust when Shares are sold. Investment return and principal value of an investment will fluctuate so that an investor’s Shares, when sold or redeemed, may be worth more or less than the original cost. Purchases or sales of Shares may be subject to brokerage commissions, which will reduce returns.

There can be no assurance that the Trust will achieve its investment objective. An investment in the Trust carries with it the inherent risks associated with investments related to Physical Gold. There can be no assurance that the Trust will achieve profits or avoid losses, significant or otherwise. The performance of the Trust may not track the Index during particular periods or over the long term. Disruptions in the ability to create or redeem creation units may adversely affect investors. Certain potential conflicts of interest exist between Wilshire Phoenix Funds LLC (the “Sponsor”), its affiliates and the Trust’s shareholders. Shareholders will be subject to taxation on their allocable share of the Trust’s taxable income, whether or not they receive cash distributions. Shareholders will receive partner information tax returns on Schedule K-1, which could increase the complexity of tax returns.

Risks

The Trust is not an investment company regulated under the Investment Company Act of 1940, nor is it a commodity pool as defined in the Commodity Exchange Act, and thus is not afforded the regulatory protections applicable to such entities. Since the Index seeks to reduce the risk-profile typically associated with the purchase of gold while maintaining the correlative benefits of gold versus the equity markets, neither the Index nor the Trust is designed to precisely correlate with the actual performance of gold. Therefore, an investor in Shares may not be able to achieve a return that precisely correlates with the return an investor may achieve by investing directly in gold.

All Investments involve risk, including the potential loss of principal amount invested. Fluctuations in the price of Physical Gold could materially and adversely affect an investment in the Shares because the value of the Shares relates directly to the value of the Physical Gold held by the Trust.

Shareholders do not have the protections associated with ownership of shares in an investment company registered under the Investment Company Act, or the protections afforded by the CEA. The Trust is an emerging growth company and the Trust cannot be certain if the reduced disclosure requirements applicable to emerging growth companies will make the Shares less attractive to investors.

Certain members of the Sponsor have no history operating an investment vehicle like the Trust, their experience may be inadequate or unsuitable to manage the Trust. An active and liquid market for the Shares may not develop or be sustained. The Trust may terminate and liquidate at a time that is disadvantageous to Shareholders. Withdrawal from participation by Authorized Participants may affect the liquidity of Shares. The Shares may trade at a price which is at, above, or below the NAV per Shares and any premium or discount in the trading relative to the NAV per Shares may widen as a result of different trading hours of the Exchange and other exchanges. The value of the Shares will be adversely affected if Physical Gold owned by the Trust is lost or damaged in circumstances in which the Trust is not in a position to recover the corresponding loss. The ability of Shareholders and Authorized Participants to exercise remedies against the Gold Custodian may be limited. The Trust and the Shares may be negatively impacted by the effects of the spread of illnesses or other public health emergencies on the global economy, the markets and the Trust’s service providers.

Market risk refers to the risk that the market price of Physical Gold held by the Trust will rise or fall, sometimes rapidly or unpredictably. An investment in the Trust’s Shares is subject to market risk. Substantial sales of gold by central banks, governmental agencies and international institutions could adversely affect an investment in the Shares. Fluctuations in the price of Physical Gold could materially and adversely affect an investment in the Shares because the value of the Shares relates directly to the value of the Physical Gold held by the Trust.  The price of gold is volatile and historical fluctuations in gold prices are not a reliable indicator of future gold price movements.

The Index has a limited operating history and may perform in unanticipated ways. The historical performance of the Index or gold may not be indicative of future results. The Index is not diversified, unlike other indices. The Trust’s performance may not always replicate the changes in the levels of the Index (such deviations are also referred to as “tracking error”).

While the Sponsor developed the methodology of the Index, Solactive AG (the “Index Calculation Agent”) is responsible for the day-to-day implementation of the Index methodology and calculation of the Index. The ability of the Trust to exercise remedies against the Index Calculation Agent may be limited.

The Trust is not sponsored, promoted, sold or supported in any other manner by the Index Calculation Agent nor does the Index Calculation Agent offer any express or implicit guarantee or assurance either with regard to the results of using the Index and/or Index trademark or the current level of the Index at any time or in any other respect. The Index is calculated and published by the Index Calculation Agent. The Index Calculation Agent uses its best efforts to ensure that the Index is calculated correctly. Irrespective of its obligations towards the Trust, the Index Calculation Agent has no obligation to point out errors in the Index to third parties including but not limited to investors and/or financial intermediaries of the Trust or the Shares. Neither publication of the Index by the Index Calculation Agent nor the licensing of the Index or Index trademark for the purpose of use in connection with the Trust constitutes a recommendation by the Index Calculation Agent to invest capital in the Trust nor does it in any way represent an assurance or opinion of the Index Calculation Agent with regard to any investment in the Trust.

The LBMA Gold Price PM, which is administered and published by ICE Benchmark Administration limited (“IBA”), serves as, or as part of, an input or underlying reference for the Shares. LBMA Gold Price PM is a trademark of precious metals prices limited, and is licensed to IBA as the administrator of the LBMA Gold Price PM. ICE Benchmark Administration is a trademark of IBA and/or its affiliates. LBMA Gold Price PM, and the trademarks LBMA Gold Price PM and ICE Benchmark Administration, are used by the Trust with permission under license by IBA. IBA and its affiliates make no claim, predication, warranty or representation whatsoever, express or implied, as to the results to be obtained from any use of the LBMA Gold Price PM, or the appropriateness or suitability of the LBMA Gold Price PM for any particular purpose to which it might be put, including with respect to the Shares. To the fullest extent permitted by applicable law, all implied terms, conditions and warranties, including, without limitation, as to quality, merchantability, fitness for purpose, title or non-infringement, in relation to the LBMA Gold Price PM, are hereby excluded and none of IBA or any of its affiliates will be liable in contract or tort (including negligence), for breach of statutory duty or nuisance, or under antitrust laws or otherwise, in respect of any inaccuracies, errors, omissions, delays, failures, cessations or changes (material or otherwise) in the LBMA Gold Price PM, or for any damage, expense or other loss (whether direct or indirect) you may suffer arising out of or in connection with the LBMA Gold Price PM or any reliance you may place upon it. LBMA Gold Price PM is a trademark of Precious Metals Prices Limited, is licensed to IBA as the administrator of the LBMA Gold Price PM, and is used by the Trust with permission under license by IBA.

Foreside Fund Services, LLC is the marketing agent of the Trust.

*2020 ETF.com Awards take place on April 20th, 2021. Details can be found here: https://bit.ly/3s5MSun
**Details of the Benzinga Fintech Listmaker can be found here: https://bit.ly/3a4Dp0i