Fund Description

The fund invests substantially all (at least 80%) of its net assets in equity securities of Energy Companies traded in the United States and in derivatives, primarily futures contracts and options on securities, futures contracts, and stock indices. The advisor uses proprietary quantitative and qualitative screens based on price, liquidity, and tradability, then applies a proprietary modified capitalization-weighting approach, with adjustments for regulatory limits or as deemed appropriate. It may invest significantly in small- to mid-cap Energy Companies, use ADRs for foreign exposure, and hold U.S. government securities. Derivatives may create financial leverage, increasing volatility and losses exceeding amounts invested, and the fund may trade near market close to remain fully invested.