Industry description
The investment seeks daily investment results, before fees and expenses, of -2.0 time (-200%) the daily percentage change of the common stock of Tesla Inc, (NASDAQ: TSLA).
The fund is an actively managed exchange traded fund that attempts to replicate 2 times the inverse (-200%) daily percentage change of the underlying stock by entering into a swap agreement on the underlying stock. The fund advisor aims to generate the inverse daily performance of the underlying stock for a single day. It is non-diversified.