The investment seeks daily investment results, before fees and expenses, that correspond to two times the inverse (-200%) daily performance of the common shares of AXTI. Under normal market circumstances, the fund will maintain at least 80% exposure to financial instruments that provide two times inverse leveraged exposure to the daily performance of AXTI. AXTI is a worldwide materials science company that develops and produces high-performance compound and single element semiconductor substrates, also known as wafers. The fund is non-diversified.