Fund Description

The fund seeks leveraged exposure to the underlying index by investing in common stocks of companies generally within the index's capitalization range, ETFs, and derivatives primarily including equity index swaps and swaps on ETFs, futures, and options on securities, futures, and stock indices, including OTC instruments. The adviser attempts to apply leverage targeting 200% exposure and expects to rebalance daily. Under normal circumstances, it invests at least 80% of net assets plus borrowings in instruments with economic characteristics that should perform similarly to index securities. It may also hold U.S. government securities, cash equivalents, and repurchase agreements, and is non-diversified.