Industry description
The investment seeks daily investment results, before fees and expenses, of 300% of the inverse (or opposite) of the daily performance of the Dow Jones Internet Composite Index.
The fund, under normal circumstances, invests at least 80% of the fund’s net assets in financial instruments, that, in combination, provide 3X daily inverse (opposite) or short exposure to the index or to ETFs that track the index, consistent with the fund’s investment objective. The index includes companies that generate at least 50% of their annual sales/revenue from the internet as determined by the index provider. It is non-diversified.