This fund's objective is to provide daily returns that, before accounting for fees and costs, precisely reflect the inverse (or negative) daily performance of the Bloomberg Barclays Capital US Aggregate Bond Index. Under typical market circumstances, it achieves this by deploying various financial instruments, including swap agreements, futures contracts, and short positions, which collectively establish an inverse or bearish exposure to the index equal to at least 80% of its net assets (factoring in any borrowed capital for investment). The benchmark index itself monitors the performance of the U.S. market for investment-grade, dollar-denominated, fixed-interest taxable debt securities.
