The investment seeks daily investment results, before fees and expenses, of 200% of the daily performance of the MVIS Russia Index.
The fund invests at least 80% of its net assets in financial instruments and securities of the index, ETFs that track the index and other financial instruments that provide daily leveraged exposure to the index or ETFs that track the index. The index is intended to represent the overall performance of publically traded companies that are domiciled and primarily listed on an exchange in Russia or that are not Russian companies, but nonetheless generate at least 50% of their revenues in Russia. It is non-diversified.