| Investment Objective: |
The Fund seeks daily investment results, before fees and expenses, of 300% of the daily performance of the S&P 500 High Beta Index (the "Index"). The Index is provided by S&P Dow Jones Indices (the "Index Provider"). High Beta securities are defined by the Index Provider as the 100 securities from the S&P 500 Index that have exhibited the highest sensitivity to market movements, or "beta," over the past 12 months as determined by the Index Provider based on the securities' daily price changes. The Fund, under normal circumstances, invests at least 80% of its net assets (plus borrowing for investment purposes) in financial instruments, securities of the Index, and exchange-traded funds ("ETFs") that track the Index, that, in combination, provide 3X daily leveraged exposure to the Index, consistent with the Fund's investment objective. The financial instruments in which the Fund most commonly invests are swap agreements and futures agreements which are intended to produce economically leveraged investment results. |
