The fund's underlying index is composed of all the constituents of the S&P 500 Index. Under typical market conditions, the fund dedicates at least 80% of its total net assets, including any funds acquired through borrowing for investment purposes, to various financial vehicles. These include swap agreements, direct index securities, and exchange-traded funds (ETFs) that track the index, along with other financial tools designed to provide daily leveraged exposure to either the index itself or its tracking ETFs.