Industry description
The investment seeks to provide total returns that inversely correlate, before fees and expenses, to the price movement of the Long Treasury Bond for U.S. Treasury debt instruments or futures contracts on a specified debt instrument on a daily basis.
The fund employs as its investment strategy a program of engaging in short sales and investing to a significant extent in derivative instruments. It will invest at least 80% of its net assets, plus any borrowings for investment purposes, in financial instruments with economic characteristics that should perform opposite to fixed income securities issued by the U.S. government.