Industry description
The investment seeks to provide investment results that correlate, before fees and expenses, to 200% of the inverse (opposite) of the performance of the S&P Emerging 50 ADR Index on a daily basis.
The fund invests at least 80% of its net assets in financial instruments with economic characteristics that should perform opposite to the securities of companies included in the underlying index. The index is a capitalization weighted index comprised of the 50 largest emerging market based ADRs having a free-float market capitalization ranging from approximately $4.5 billion to $901. The fund is non-diversified.