Gov. Gavin Newsom and economist Robert Reich criticized the Elon Musk-led Department of Government Efficiency (DOGE) on Monday as the organization officially shut down over the weekend. The department reached a July 4 deadline set by former President Donald Trump, ending its mandate to tackle excess federal spending and streamline government organizations. Newsom's Press Office stated on X that while DOGE is gone, the damage it caused will never be forgotten.

Reich also condemned the organization, sharing a video on X that outlined various funding and budget cuts enacted by DOGE and Musk. The video highlighted reductions to the Food and Drug Administration (FDA), the Federal Emergency Management Agency (FEMA), the National Highway Traffic Safety Administration (NHTSA), and the Federal Aviation Administration (FAA). Reich emphasized the chaos left behind by the department's actions.

DOGE was established last year under Trump and led by Musk and Vivek Ramaswamy. It marked Musk's first active involvement in governance after he donated over $250 million to the Trump campaign ahead of the 2024 Presidential Election. The department faced widespread criticism, with experts suggesting that Musk's association with Trump and his right-wing politics caused brand damage to Tesla Inc.

Rep. Ro Khanna also slammed Musk for DOGE-induced funding cuts to the U.S. Agency for International Development (USAID), arguing that the cuts put millions of children at risk globally. Khanna called for accountability and an investigation into Musk, the CEO of Space Exploration Technologies Corp. Musk responded by calling Khanna an "evil liar."

The shutdown of DOGE has drawn mixed reactions, with critics like Newsom and Reich emphasizing its negative impact, while supporters viewed it as a necessary step toward reducing government inefficiency. The debate over its legacy continues as stakeholders assess the long-term effects of its policies.

GraniteShares today announced the monthly distributions for its eight Autocallable ETFs, with per-share amounts ranging from $0.00000 to $0.86645. The funds, which include tickers ANV, TLA, MSR, ATC, PLA, AHD, SCA, and MRA, offer distribution rates based on the Net Asset Value (NAV) per share as of June 30, 2026. These rates vary significantly, from 0.00% for the GraniteShares Autocallable MSTR ETF to 47.87% for the GraniteShares Autocallable SMCI ETF.

The ex-date and record date for all listed ETFs is July 1, 2026. Shareholders of record on this date will receive the distributions on the payment date of July 6, 2026. GraniteShares Advisors LLC has contractually agreed to waive fees and/or pay operating expenses to ensure total annual fund operating expenses do not exceed 1.15% until December 31, 2026.

Distribution Details

The following table outlines the distribution per share, distribution rate, 30-Day SEC Yield, and Return of Capital (ROC) for each ETF.

Fund Characteristics and Risks

Each GraniteShares Autocallable ETF seeks to generate potential monthly income by investing in a portfolio of single-stock autocallable options linked to the performance of a reference equity. Distributions may include a combination of ordinary dividends, capital gain, and return of investor capital. Return of Capital figures are estimates based on the latest 19a1 forms and may be recharacterized for tax purposes.

The funds are newly launched and carry risks associated with limited operating history. The use of derivatives subjects the funds to market risks, including Autocallable Structure Risk, Counterparty Risk, and NAV Erosion Risk. There is no guarantee that the funds' investment strategy will be properly implemented, and investors may lose some or all of their investment.