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 COHR. The fund will maintain at least 80% exposure to financial instruments that provide two times inverse leveraged exposure to the daily performance of COHR. COHR is a vertically integrated manufacturing company that develops, manufactures, and markets lasers, transceivers, and other optical and optoelectronic devices, modules, and systems, as well as engineered materials, for use in the communications, industrial, instrumentation and electronics markets. The fund is non-diversified.