| Investment Objective: |
The Fund's primary investment objective is to seek current income. The Fund's secondary investment objective is to seek exposure to the performance of the Direxion Daily S&P500 Bull 3X Shares (NYSE ARCA: SPXL) subject to a limit on potential investment gains. The Fund is an actively managed exchange-traded fund ("ETF") that seeks current income while maintaining the opportunity for an indirect exposure to the share price of the Direxion Daily S&P500 Bull 3X Shares ("SPXL" or the "Underlying ETF"), subject to a limit on potential gains from increases in the price of the Underlying ETF's shares. The Fund may invest in (1) U.S. Government securities, such as bills, notes and bonds issued by the U.S. Treasury; (2) money market funds; (3) short term bond ETFs and/or (4) corporate debt securities, such as commercial paper and other short-term unsecured promissory notes issued by businesses that are rated investment grade. The Fund will carry a cash balance. The Fund will sell put options contracts, either directly or through swap contracts, on the Underlying ETF and for which the Fund will receive a premium. |
