This fund aims to deliver daily investment results, before fees and expenses, that are three times (300%) the daily performance of the Communication Services Select Sector Index. To accomplish this, it typically allocates a minimum of 80% of its net assets to financial instruments and securities directly from the index, exchange-traded funds (ETFs) that mirror the index, or other financial products designed to provide amplified daily exposure to the index or its tracking ETFs. The underlying index comprises U.S.-based companies in the communication services sector, including industries such as diversified telecommunications, wireless communication, media, and entertainment. The fund operates as a non-diversified investment.