The investment seeks daily investment results, before fees and expenses, of 300% of the daily performance of the FTSE Developed Europe All Cap Index. The fund invests at least 80% of its net assets (plus borrowing for investment purposes) in financial instruments, such as swap agreements, ETFs that track the index, securities of the index and other financial instruments that provide daily leveraged exposure to the index or to ETFs that track the index. The index is a market capitalization weighted index that is designed to measure the equity market performance of large-, mid- and small-cap companies in developed European markets. The fund is non-diversified.