| Investment Objective: |
The Fund seeks daily investment results, before fees and expenses, that correspond to two times (2x) the daily performance of ADA. Under normal circumstances, the Fund will invest at least 80% of the value of its net assets (plus borrowings for investment purposes) in ADA-Linked Instruments. For purposes of this policy, "ADA-Linked Instruments" means (i) ADA Futures Contracts; (ii)shares of other ADA-linked exchange-traded investment products not registered under as investment companies ("ADA-Linked ETPs") under the Investment Company Act of 1940, as amended (the "1940Act"); (iii) shares of other investment companies registered under the 1940 Act that invest in similar assets to those in which the Fund may invest ("Other Investment Companies"); (iv) exchange traded options on shares of Other Investment Companies or shares of ADA-Linked ETPs; and (v)swap agreement transactions that reference ADA, ADA Futures Contracts, ADA-Linked ETPs, Other Investment Companies, or ADA-referenced indexes. Certain ADA-Linked Instruments, such as ADA-Linked ETPs or options thereon, are currently unavailable for investment, though are expected to become available in the future. |
