BetaPro Crude Oil Inverse Leveraged Daily Bear 

HOD is an Exchange Traded Fund (ETF) that aims to deliver daily investment results, before fees, expenses, and other transaction costs, corresponding to two times (200%) the inverse (opposite) of the daily performance of the BetaPro Crude Oil Rolling Futures Index. This means it's designed to reflect double the opposite movement of the index on a day-to-day basis. It's crucial to understand that HOD is engineered to achieve this specific objective only for single-day periods, and its performance over longer durations is not intended to track this daily goal. The ETF is denominated in Canadian dollars. Under typical market conditions, the Manager endeavors to maintain a leverage ratio as close to 200% as practical. However, the Manager retains the right to adjust this leverage ratio at their sole discretion, based on current market conditions for crude oil futures contracts and negotiations with the ETF's counterparties.