Industry description
The investment seeks to provide investment results that match, before fees and expenses, 200% of the performance of the S&P 500® Index on a daily basis.
The fund manager employs as its investment strategy a program of investing in the common stock of companies that are generally within the capitalization range of the underlying index and 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 similarly to the securities of companies in the underlying index. The fund is non-diversified.