Exhibit 10.15





EXPENSE LIMITATION AGREEMENT


 


ETF MANAGERS GROUP COMMODITY TRUST I


 


EXPENSE LIMITATION AGREEMENT, effective
as of March 1, 2018, by and between ETF Managers Capital LLC (“ETFMC”) and ETF Managers Group Commodity Trust I (the
“Trust”), on behalf of the Breakwave Dry Bulk Shipping ETF (the “Fund”).


 


WHEREAS, ETFMC and Breakwave Advisors LLC
(“Breakwave”) have entered into a Licensing and Services Agreement, dated March 1, 2018 (the “CTA Agreement”),
pursuant which Breakwave receives a fee based on the value of the average daily net assets of the Fund (the “CTA Fee”);
and


 


WHEREAS, ETFMC and Breakwave have determined
that it is appropriate and in the best interests of the Fund and its shareholders to maintain the expenses of the Fund, and, therefore,
have entered into a Fee Waiver Agreement, pursuant to which Breakwave waives the CTA Fee in order to maintain the expense ratio
of the Fund at the level specified in Fee Waiver Agreement; and


 


WHEREAS, ETFMC and the Trust have entered
into this Expense Limitation Agreement (the “Agreement”) in the event that the waiver of the CTA Fee is insufficient
to maintain the expense ration of the Fund at the specified level;


 


NOW, THEREFORE, for good and valuable consideration,
the receipt of which is hereby acknowledged the parties hereto agree as follows:


 


1.      Expense Limitation.


 


1.1     APPLICABLE
EXPENSE LIMIT. To the extent that the aggregate expenses of every character incurred by the Fund in any fiscal year, including
but not limited to, fees of ETFMC (but excluding brokerage fees, interest expenses, and extraordinary expenses) (“Fund Operating
Expenses”), exceed the Operating Expense Limit, as defined in Section 1.2 below, plus the CTA Fee, such excess amount (the
“Excess Amount”) shall be the liability of ETFMC.


 


1.2       OPERATING
EXPENSE LIMIT. The maximum Operating Expense Limit in any year with respect to the Fund shall be 3.50% of the average daily net
assets of the Fund.


 


2.      Term and Termination of Agreement.


 


This Agreement shall continue in effect
through February 28, 2019, and from year to year thereafter at the option of ETFMC. This Agreement shall terminate automatically
upon the termination of the CTA Agreement.


 






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3.      Miscellaneous.


 


3.1       CAPTIONS.
The captions in this Agreement are included for convenience of reference only and in no other way define or delineate any of the
provisions thereof or otherwise affect their construction or effect.


 


3.2       INTERPRETATION.
Nothing herein contained shall be deemed to require the Fund to take any action contrary to the Trust’s Declaration of Trust
and Trust Agreement, or any applicable statutory or regulatory requirement to which it is subject or by which it is bound.


 


3.3       DEFINITIONS.
Any question of interpretation of any term or provision of this Agreement, including but not limited to, the advisory fee, the
computations of net asset values, and the allocation of expenses, having a counterpart in or otherwise derived from the terms and
provisions of the CTA Agreement or the Fund’s current registration statement, shall have the same meaning as and be resolved
by reference to such CTA Agreement or registration statement.


 


IN WITNESS WHEREOF, the parties have caused
this Agreement to be signed by their respective officers thereunto duly, effective as of the day and year first above written.


 





	 	 	 
	 	ETF Managers Capital LLC
	 	 	 
	 	By:	/s/ Samuel
    Masucci, III
	 	Name:  Samuel Masucci,
    III
	 	Title:  Chief Executive
    Officer
	 	 	 
	 	ETF Managers
Group Commodity Trust I
	 	 	 
	 	By:	/s/ Samuel
    Masucci, III
	 	Name:  Samuel Masucci,
    III
	 	Title: Principal Executive Officer


 






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