Industry description
The investment seeks monthly investment results, before fees and expenses, of 175% of the inverse (or opposite) of the calendar month performance of the ICE U.S. Treasury 7-10 Year Bond Index.
The fund invests in swap agreements, futures contracts, short positions or other financial instruments that provide inverse (opposite) or short calendar month exposure to the index or to ETFs that track the index. The index is a market value weighted index that includes publicly issued U.S. Treasury securities that have a remaining maturity of greater than or equal to seven years and less than ten years. It is non-diversified.