Under normal market circumstances, the Fund will maintain at least 80% exposure to financial instruments that provide two times leveraged exposure to the calendar quarter performance of the SPDR S&P 500 ETF Trust. The Fund is an actively-managed exchange-traded fund (ETF) that seeks to achieve on a calendar quarter basis, before fees and expenses, 200% performance of the SPDR S&P 500 ETF Trust for a full calendar quarter, and not for any other period, by entering into one or more swaps on the SPDR S&P 500 ETF Trust. A full calendar quarter is measured from the close of trading on the last business day of one calendar quarter to the close of trading on the last business day of the following calendar quarter. Business day means each day the NYSE is open for trading. For example, if June 28th is the last business day of the calendar quarter and September 30th is the last business day of the following calendar quarter, the calendar quarter performance is measured from the close of trading on June 28th to the close of trading on September 30th. The Fund will enter into one or more swaps with major global financial institutions whereby the Fund and the global financial institution will agree to exchange the return (or differentials in rates of return) earned or realized on the SPDR S&P 500 ETF Trust. The gross return to be exchanged or swapped between the parties is calculated with respect to a notional amount, e.g., the return on or change in value of a particular dollar amount representing the SPDR S&P 500 ETF Trust. The Advisor attempts to consistently apply leverage to maintain the Funds exposure to 200% of the SPDR S&P 500 ETF Trusts quarterly return, and expects to rebalance the Funds holdings quarterly in an attempt to maintain such exposure. As a defensive measure, if abnormal market conditions or other circumstances cause a change in the value of SPDR S&P 500 ETF Trust intra-period (i.e., other than at or near the close of the market of a calendar period) and the change exceeds a level that has been determined by the Advisor to represent a dramatic move in the price of SPDR S&P 500 ETF Trust (the performance trigger) the Advisor will seek to reset the performance leverage of the Fund by rebalancing the portfolio. The performance trigger for the Fund is -35%. For example, if the price of SPDR S&P 500 ETF Trust drops by 35% for the period by February 14th of the calendar quarter, the Fund will rebalance its portfolio on February 14th by resetting the swaps to the 200% leverage and delivering the performance through the end of the calendar period. In essence, the stub period between the triggered reset date and the end of the period is treated like a brand-new period which would have the effect of reducing the leverage return for that calendar period. The Advisor will make best efforts to reset the performance leverage intraday as soon as possible after the trigger level is reached. If the intra-period performance trigger is not reached until the final 30 minutes of trading, the Advisor will make best efforts to reset the performance leverage that day. However, if there is not enough time to do so, the performance leverage will reset the following trading day. If the Fund rebalances its portfolio intra-period due to the performance trigger, the Fund likely will not achieve its investment objective for that period. There is no guarantee that such defensive measures will be successful in protecting the viability of the Fund. Additionally, the Fund may invest all available cash in the Funds portfolio in (1) U.S. Government securities, such as bills, notes and bonds issued by the U.S. Treasury; (2) money market funds; (3) short-term bond ETFs and/ or (4) corporate debt securities, such as commercial paper and other short-term unsecured promissory notes issued by businesses that are rated investment grade or of comparable quality (Collateral Investments).