ABOUT THIS FUND
SIMX seeks to deliver 200% of the daily performance of Silicon Motion Technology Corporation (NASDAQ: SIMO), through derivatives such as swap agreements and exchange-traded equity futures to create leveraged exposure. SIMO is a semiconductor company that designs and markets NAND flash controller integrated circuits (ICs) and storage solutions used in solid-state storage devices. 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 SIMO due to compounding effects. Collateral supporting these derivative positions may be invested in money market instruments, repurchase agreements, or short-term US government securities.