This fund aims to provide daily investment results, before fees and expenses, that are 300% of the inverse of the daily performance of the Consumer Staples Select Sector Index. To achieve this, it typically allocates at least 80% of its net assets to financial instruments such as swap agreements, futures contracts, and short positions, or other similar derivatives, which together offer inverse or short leveraged exposure to the index. The index itself tracks domestic companies within the consumer staples sector, including industries like food and staples retailing, household goods, food items, beverages, tobacco, and personal care products.
