The Fund will maintain at least 80 percent exposure to financial instruments that provide one and a half times leveraged exposure to the daily performance of CRM. The Fund is an actively-managed exchange-traded fund (ETF) that seeks to achieve on a daily basis, before fees and expenses, 150% perform...
The Fund will maintain at least 80 percent exposure to financial instruments that provide one and a half times leveraged exposure to the daily performance of CRM. The Fund is an actively-managed exchange-traded fund (ETF) that seeks to achieve on a daily basis, before fees and expenses, 150% performance of CRM for a single day, not for any other period, by entering into one or more swap agreements on CRM. A single day is measured from the time the Fund calculates its net asset value (NAV) to the time of the Funds next NAV calculation. The Fund will enter into one or more swap agreements with major global financial institutions for a specified period ranging from a day to more than one year whereby the Fund and the global financial institution will agree to exchange the return (or differentials in rates of return) earned or realized on CRM. The gross return to be exchanged or swapped between the parties is calculated with respect to a notional amount, e.g.
Mehr anzeigen