Industry description
The investment seeks daily investment results, before fees and expenses, that correspond to one and one-half times (1.5x) of the daily performance of the S&P Banks Select Industry Index.
The fund invests in financial instruments that the fund advisors believes, in combination, should produce daily returns consistent with the Daily Target. The index is designed to measure the performance of banking companies included in the S&P Total Market Index. Under normal circumstances, the fund will obtain leveraged exposure to at least 80% of its total assets in components of the index or in instruments with similar economic characteristics. The fund is non-diversified.