Normally, the fund's manager allocates at least 80% of its holdings to financial instruments engineered to deliver two times the inverse daily performance of PFE. This actively managed Exchange Traded Fund (ETF) is designed to deliver, before fees and expenses, a daily return equivalent to negative 200% of PFE's performance. This specific daily target is achieved through the use of swap agreements referencing PFE and is not intended to be indicative of performance over longer timeframes.