Teucrium Sugar Fund (NYSE Arca: CANE) is a commodity exchange-traded fund that provides investors with exposure to sugar prices through sugar futures contracts. The fund generates returns by holding positions in sugar commodity futures, with interest income on cash and cash equivalents serving as the primary source of investment income. Managed by Teucrium Trading, LLC as sponsor, CANE operates as a statutory trust and earns management fees assessed against average daily total net assets. For the year ended December 31, 2025, average daily total net assets were $31,009,817, management fees were $310,098, and interest income on cash was $1,286,737 at an annualized yield of 4.15%. The fund reported a net loss of $412,389 for the year ended December 31, 2025, driven primarily by realized and unrealized losses on futures contracts of $661,905. Shares are created and redeemed through authorized purchasers, with 1,825,000 shares created and 1,225,004 shares redeemed during the year ended December 31, 2025. The total gross expense ratio was 3.34% for the year ended December 31, 2025.

Revenue model

Management fees charged as a percentage of average daily total net assets (yielding $310,098 in fees on $31,009,817 average daily net assets for the year ended December 31, 2025). The fund also earns interest income on cash and cash equivalents held as collateral, which was $1,286,737 at a 4.15% annualized yield for the year ended December 31, 2025.

Products and services

A single exchange-traded fund (CANE) providing exposure to sugar commodity futures contracts. The fund may also use over-the-counter commodity instruments such as forward contracts or swaps, and may employ exchange-for-related-position (EFRP) transactions in connection with share creation and redemption.

Customers and end markets

Retail and institutional investors seeking commodity exposure to sugar prices through an exchange-traded structure. Shares are created and redeemed via authorized purchasers acting as market specialists or market makers.

Value-chain role

Sponsor-managed commodity pool that sits between investors and the futures markets. Teucrium Trading, LLC acts as sponsor and collects management fees. The fund holds sugar futures contracts through futures commission merchants (FCMs) and maintains cash collateral generating interest income.

Source: SEC 10-K, filed 2026-03-02

Industry: Commodity Contracts Brokers & Dealers