The investment seeks to provide investment results that, before fees and expenses, correspond generally to the total return performance of an index derived from the regional banking segment of the U.S. banking industry. In seeking to track the performance of the S&P Regional Banks Select Industry Index (the "index"), the fund employs a sampling strategy. It generally invests substantially all, but at least 80%, of its total assets in the securities comprising the index. The index represents the regional banks segment of the S&P Total Market Index ("S&P TMI"). The fund is non-diversified.
Call trades that are bought on or above the market's asking price OR put trades that are sold on or less than the market's bid price - expecting a move to the updside.
Put trades that are bought on or above the market's asking price OR call trades that are sold on or less than the market's bid price - expecting a move to the downside.