GLDUS183 Dimension Capital Management iCapital Advisors, LLC Form ADV Part 2A obligation to timely pay the Fund the amount owed under the certificate. Cash Position Risk A Fund may hold any portion of its assets in cash or cash equivalents at any time or for an extended time. The applicable Underlying Fund Manager or Sub-Adviser will determine the amount of such Fund's assets to be held in cash or cash equivalents at its sole discretion, based on such factors as it may consider appropriate from time to time. To the extent that a Fund holds assets in cash or cash equivalents and is otherwise uninvested, the ability of the Fund to meet its investment objective may be limited. Leverage. A Fund may utilize leverage in pursuing its investment strategy. Leveraging a Fund creates an opportunity for increased net income or capital appreciation but, at the same time. creates special risk considerations. Leveraging will generally exaggerate the effect on the value of a Fund's assets of any increase or decrease in the market value of the Fund's investments. Although the principal of borrowings underlying any leverage will be fixed, a Fund's assets may change in value during the time the borrowing is outstanding. Because any decline in value of a Fund's investments will be borne entirely by the Fund (and thus by investors in the Fund) and not by those persons providing the leverage to the Fund. the effect of leverage in a declining market would be a greater decrease in the value of the Fund's portfolio investments than if the Fund were not so leveraged. Leveraging will create interest expenses for a Fund, which can exceed the investment return from the borrowed funds. To the extent the investment return derived from securities purchased with borrowed funds exceeds the interest a Fund will have to pay. the Fund's investment return will be greater than if leverage were not used. Conversely, if the investment return from the assets acquired with borrowed fun