The fund, under normal circumstances, invests at least 80% of the fund’s net assets in financial instruments, including swap agreements, futures contracts, or short positions, that, in combination, provide 1X daily inverse or short exposure to the index or to ETF that track the index, consistent with the fund’s investment objective. The components of the index and the percentages represented by various sectors in the index may change over time. The fund is non-diversified.
