The invest seeks to replicate, net of the expenses, twice the daily return of the S&P Crude Oil - Equity Spread Total Return index.
The S&P Crude Oil – Equity Spread Total Return index is a spread index reflecting the difference in daily return between the crude oil and U.S. equity market segments by tracking a long position in the front month Light Sweet Crude Oil futures and a short position in the front month E-mini S&P 500 Stock Price index futures. The fund will primarily establish a leveraged long position in Light Sweet Crude Oil futures and a leveraged short position in the E-mini S&P 500 Stock Price index futures.
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