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            <payOffProf>Long</payOffProf>
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                <issuerName>CHICAGO BOARD OF TRADE</issuerName>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>CHICAGO MERCANTILE EXCHANGE (FLOOR)</name>
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          <ticker value="NQZ4 INDEX"/>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <futrDeriv derivCat="FUT">
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              <counterpartyName>INTERACTIVE BROKERS</counterpartyName>
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                <issuerName>CHICAGO MERCANTILE EXCHANGE (FLOOR)</issuerName>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>First American Funds</name>
        <lei>N/A</lei>
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          <isin value="US31846V3362"/>
          <ticker value="FGXXX"/>
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        <assetCat>STIV</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Vanguard Malvern Funds</name>
        <lei>549300EW16IGZDA38J20</lei>
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        <cusip>922020805</cusip>
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          <isin value="US9220208055"/>
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        <balance>102646.00000000</balance>
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        <curCd>USD</curCd>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>iShares Trust</name>
        <lei>5493000860OXIC4B5K91</lei>
        <title>IShares Broad USD High Yield Corporate Bond ETF </title>
        <cusip>46435U853</cusip>
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          <isin value="US46435U8532"/>
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        <balance>170215.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>CHICAGO BOARD OF TRADE</name>
        <lei>549300EX04Q2QBFQTQ27</lei>
        <title>E-Mini Dow CBOT DJIA Future 12/20/2024</title>
        <cusip>N/A</cusip>
        <identifiers>
          <ticker value="DMZ4 INDEX"/>
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        <balance>5.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>58043.75000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DE</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <futrDeriv derivCat="FUT">
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              <counterpartyName>INTERACTIVE BROKERS</counterpartyName>
              <counterpartyLei>N/A</counterpartyLei>
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            <payOffProf>Long</payOffProf>
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                <issuerName>CHICAGO BOARD OF TRADE</issuerName>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Chicago Board of Trade</name>
        <lei>549300EX04Q2QBFQTQ27</lei>
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        <identifiers>
          <ticker value="FVH5 COMDTY"/>
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        <balance>75.00000000</balance>
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        <assetCat>DE</assetCat>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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              <counterpartyName>INTERACTIVE BROKERS</counterpartyName>
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                <issuerName>CHICAGO BOARD OF TRADE</issuerName>
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      <invstOrSec>
        <name>Chicago Board of Trade</name>
        <lei>549300EX04Q2QBFQTQ27</lei>
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        <cusip>N/A</cusip>
        <identifiers>
          <ticker value="TYH5 COMDTY"/>
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        <balance>48.00000000</balance>
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        <valUSD>36107.30000000</valUSD>
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        <assetCat>DE</assetCat>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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                <issuerName>CHICAGO BOARD OF TRADE</issuerName>
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        <name>Vanguard Scottsdale Funds</name>
        <lei>549300Y88GQ3VLJIBX57</lei>
        <title>Vanguard Mortgage-Backed Securities ETF </title>
        <cusip>92206C771</cusip>
        <identifiers>
          <isin value="US92206C7719"/>
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        <balance>161955.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>7508233.80000000</valUSD>
        <pctVal>10.49587661148</pctVal>
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        <assetCat>EC</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
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        <name>VanEck ETF Trust</name>
        <lei>549300ZLFKNTXC51ZN76</lei>
        <title>Vaneck Vectors Emerging Market High Yield Bond ETF </title>
        <cusip>92189F353</cusip>
        <identifiers>
          <isin value="US92189F3534"/>
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        <balance>268156.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>5290717.88000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Fidelity Institutional Cash Portfolios</name>
        <lei>549300SHPEJB1OPRCV46</lei>
        <title>Fidelity Institutional Money Market Government Portfolio</title>
        <cusip>316175108</cusip>
        <identifiers>
          <isin value="US3161751082"/>
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        <balance>1247780.35000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>STIV</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
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        <name>iShares Trust</name>
        <lei>5493000860OXIC4B5K91</lei>
        <title>ISHARES NATIONAL MUNI BOND ETF </title>
        <cusip>464288414</cusip>
        <identifiers>
          <isin value="US4642884146"/>
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        <balance>29382.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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        <name>COMMODITIES EXCHANGE CENTER</name>
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        <title>E-mini Gold Future 1/29/2025</title>
        <cusip>N/A</cusip>
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          <ticker value="BQG5 COMDTY"/>
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        <isRestrictedSec>N</isRestrictedSec>

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              <counterpartyName>INTERACTIVE BROKERS</counterpartyName>
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        <name>iShares Trust</name>
        <lei>5493000860OXIC4B5K91</lei>
        <title>ISHARES S&amp;P US PREFERRED STOCK INDEX FUND </title>
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        <assetCat>EC</assetCat>
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        <fairValLevel>1</fairValLevel>
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        <name>VanEck ETF Trust</name>
        <lei>549300ZLFKNTXC51ZN76</lei>
        <title>VANECK VECTORS J.P. MORGAN EM LOCAL CURRENCY BOND ETF</title>
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        <name>Goldman Sachs Trust</name>
        <lei>S2FHCT8U6D2VORP0J605</lei>
        <title>Goldman Sachs Treasury Obligations Fund Institutional Class</title>
        <cusip>38141W323</cusip>
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    <signature>
      <ncom:dateSigned>2024-12-20</ncom:dateSigned>
      <ncom:nameOfApplicant>Wavelength Fund</ncom:nameOfApplicant>
      <ncom:signature>Daniel D. Bauer</ncom:signature>
      <ncom:signerName>Daniel D. Bauer</ncom:signerName>
      <ncom:title>Treasurer</ncom:title>
    </signature>
  </formData>
</edgarSubmission>
