For the fellows HC greater minds than mine can you help with...

For the fellows HC greater minds than mine can you help with following scenario:

On Apr 22 2pm:

1. NAV= $2,097 AUD
2. SP= $ 2,55 AUD
3. WTI Future $ 10.98 USD https://www.cmegroup.com/trading/energy/crude-oil/light-sweet-crude_quotes_globex.html

What will happen to NAV and SP in Few months say in October 2020 when ideally DEC WTI futures will trade at $ 40 USD or x4 the June price?

Are we saying that because of the extreme countergo effect the SP will not follow the same trajectory of the future WTI and will miss out teh x4 growth cycle?

If this is the case the ETF is missing the main objective which is to follow the Oil price by means of the WTI futures.

[..] Fund Objective

OOO aims to track the performance of an index (before fees and expenses) that provides exposure to crude oil futures, hedged for currency movements in the AUD/USD exchange rate