ABOUT THIS FUND
WLDU seeks to deliver two times the daily performance of Vanguard Total World Stock ETF (VT), which tracks a global equity index spanning developed and emerging markets. Rather than holding the underlying ETF directly, the fund primarily uses derivatives such as swap agreements and options to create leveraged exposure. 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 VT due to compounding effects. Options positions may include deep in-the-money calls or synthetic forward exposures created through combinations of call and put options. Collateral supporting these derivative positions may be invested in money market instruments, repurchase agreements, or short-term US government securities.