CORN vs TILL

CORNCTeucrium Corn Fund

TILLCTeucrium Agricultural Strategy No K-1 ETF

In short

CORN The original US corn ETF, running since 2010. Rather than riding the front-month contract, it spreads across three CBOT corn futures (second, third, and the following December) to blunt monthly roll churn.

TILL Teucrium's answer to commodity-fund tax paperwork: an actively managed basket of farm futures from the CBOT and ICE, wrapped as a 1940 Act fund that sends a 1099 instead of a Schedule K-1. The name says the quiet part out loud.

Stated mandate

CORN The Fund seeks to give investors price exposure to corn for future delivery by tracking the daily movement of its benchmark. It normally invests in corn futures contracts and cash equivalents.

TILL The fund seeks capital appreciation through primarily investing in agricultural commodity futures contracts traded on CBOT or ICE.

Why people hold it

• CORN The ladder is the whole idea: 35% second-to-expire, 30% third-to-expire, 35% the following December contract, so it is never glued to the front month.sec.gov
• At 0.61% it undercuts the median fee in its agriculture-futures peer group, and comes in below DBA (0.90%) and PDBA (0.75%).
• Single-crop exposure with no dilution: corn futures and cash equivalents, nothing else, operating continuously since June 2010.sec.gov

• TILL The "No K-1" in the name is the pitch. It is a 1940 Act fund, so tax season brings a 1099 rather than the partnership schedule commodity pools mail out.
• Actively managed instead of bolted to a fixed index: a manager works a book of roughly 30 agricultural futures positions traded on the CBOT and ICE.
• One ticker covers the farm complex, so there is no choosing between single-crop funds like CORN or CANE.

Worth knowing

• CORN One crop, one weather map. Drought, planting surprises and export policy land on the whole fund at once, with no basket of other commodities to cushion the move.
• You own corn futures, not corn in a silo. The three-contract ladder softens roll costs but does not remove them, so results can drift from spot corn.sec.gov
• It is structured as a commodity pool rather than a standard stock-ETF wrapper, so the tax and reporting mechanics work differently.teucrium.com

• TILL Costs sit at the pricier end: 0.89% a year against a 0.75% median for agricultural commodity funds, and far above Teucrium's own TAGS at 0.17%.
• A small fund with moderate trading, which can mean wider bid-ask spreads than the category's largest names.
• The mandate is capital appreciation from futures, not income. Payouts come once or twice a year at most, and results track the futures curve, not spot crop prices.

Full CORN profile⁠

Full TILL profile⁠