| Investment Objective: |
The Fund seeks daily investment results, before fees and expenses, of 200% of the inverse (or opposite) of the daily performance of the Solactive US AI & Big Data Index (the "Index"). The Index is designed by Solactive AG (the "Index Provider") to represent the securities of companies from the United States that have business operations in the field of artificial intelligence ("AI") applications and big data. The Index includes U.S. listed securities with certain minimum capitalization and liquidity requirements that the Index Provider defines as AI and big data companies using the following criteria: The Index Provider uses ARTIS, its proprietary natural language processing algorithm, to identify and rank AI and big data companies for inclusion in the Index. The Fund, under normal circumstances, invests at least 80% of the Fund's net assets (plus borrowing for investment purposes) in financial instruments, including swap agreements, futures contracts, or short positions, that, in combination, provide 2X daily inverse (opposite) or short exposure to the Index or to exchange-traded funds ("ETFs") that track the Index, consistent with the Fund's investment objective. |
