The fund seeks investment results that correspond to 2x inverse of the daily performance of its underlying index, which represents 100 of the largest NASDAQ-listed non-financial companies. The funds investments may typically include American Depositary Receipts (ADRs), common stocks, ordinary shares, and tracking stocks. The fund is selected using minimum listing, size, and liquidity requirements, and weighted by market capitalization. As a levered fund, it is not a buy-and-hold investment and should not be expected to provide index leverage returns greater than a one-day period.