The investment seeks daily investment results, before fees and expenses, of 135% of the daily performance of the S&P SmallCap 600® Index. The fund, under normal circumstances, invests at least 80% of its net assets (plus borrowing for investment purposes) in securities of the index, exchange-traded funds (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 measures the performance of 600 small-capitalization companies in the U.S. It is a float-adjusted market capitalization weighted index. The fund is non-diversified.