| Investment Objective: |
The Fund seeks daily investment results, before fees and expenses, that correspond to two times (2X) the performance of an actively managed group of "pure space" securities for a single day (the group of equity securities is referred to as the "Target Portfolio") by employing derivatives, namely swap agreements and/or listed options contracts. The Fund defines "Pure Space Companies" as companies with at least 50% of their (i) annual revenue derived from, or (ii) operating activity engaged in, the development, deployment, or operation of space-related technologies and services. These companies participate in the "space economy," which refers to economic activity related to the exploration, development, deployment, space logistics, and utilization of space-based systems and infrastructure. The Fund seeks to obtain leveraged 2X exposure to the Target Portfolio primarily through swap agreements and/or listed options strategies. The Fund does not invest directly in the equity securities of the companies included in the Target Portfolio. The companies in the Target Portfolio may include large-, mid-, and small-capitalization companies and may be domestic or foreign issuers, including American Depositary Receipts ("ADRs") of foreign companies listed on U.S. or non-U.S. exchanges. |
