Industry description
The investment seeks daily inverse leveraged investment results and is very different from most other exchange-traded funds (“ETFs”). As a result, it may be riskier than alternatives that do not use leverage because the fund’s objective is to magnify the inverse (-200%) daily performance of the common shares of Lumentum Holdings, Inc. (Nasdaq: LITE) (“LITE”).
Under normal market circumstances, the fund will maintain at least 80% exposure to financial instruments that provide two times inverse leveraged exposure to the daily performance of LITE. It is non-diversified.