The iPath® Long Extended S&P 500® TR Index ETN is designed to provide investors with leveraged return on the performance of the S&P 500® Total Return Index.
The S&P 500® Total Return Index (the "Index") is a capitalization-weighted index intended to provide an indication of the pattern of stock price movement in the U.S. equities market, covering 75% of total US equities market. S&P chooses companies for inclusion in the Index with the aim of achieving a distribution by broad industry groupings that approximates the distribution of these groupings in the common stock population of the U.S. equities market.
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