Fund Description

The fund uses a mathematical approach to seek daily returns consistent with its Daily Target by investing in financial instruments that provide leveraged exposure to an index measuring oil & gas equipment & services companies in the S&P Total Market Index, including GICS sub-industries oil & gas drilling and oil & gas equipment & services. Under normal circumstances, it obtains leveraged exposure to at least 80% of total assets in index components or instruments with similar economic characteristics. It invests principally in common stocks, derivatives such as swap agreements, and holds related cash in high-quality short-term money market instruments including U.S. Treasury bills and repurchase agreements. It seeks to remain fully invested and to rebalance daily.