The investment seeks daily investment results, before fees and expenses, that correspond to one and one-half times (1.5x) the daily performance of the S&P Biotechnology Select Industry Index. The index is designed to measure the performance of biotechnology companies included in the S&P Total Market Index. Under normal circumstances, the fund will obtain leveraged exposure to at least 80% of its total assets in components of the index or in instruments with similar economic characteristics. The fund is non-diversified.