QQCL aims to provide leveraged and covered call exposure to the NASDAQ 100 Index. The underlying index tracks the performance of large domestic and international non-financial companies listed on the NASDAQ stock market. To obtain NASDAQ 100 exposure, QQCL either directly holds constituent securities of the index or invests in shares of related ETFs. The fund employs approximately 125% leverage through cash borrowing. QQCL also uses a covered call strategy, typically writing exchange-traded or over-the-counter index calls on up to 50% of the portfolio value. Although it provides hedging protection and generates premiums, the use of a covered call strategy may cap the fund's potential gains. Additionally, the fund may hold cash equivalents or money market instruments to meet its obligations.