ABOUT THIS FUND
IOSX seeks to deliver 200% of the daily performance of Apple Inc. (TICKER: AAPL), through derivatives such as swap agreements and exchange-traded equity futures to create leveraged exposure. Apple Inc. engages in the design, manufacture, and sale of smartphones, personal computers, tablets, wearables and accessories, and other varieties of related services. The portfolio is rebalanced at the end of each trading day to maintain its targeted leverage level, meaning returns over periods longer than a single day can differ significantly from two times the cumulative return of AAPL due to compounding effects. Collateral supporting these derivative positions may be invested in money market instruments, repurchase agreements, or short-term US government securities.