This investment vehicle endeavors to produce daily returns, before deducting fees and expenses, that are 135% of the daily fluctuations of the S&P Mid Cap 400® Index. Ordinarily, the fund allocates at least 80% of its net assets (which may include capital acquired through borrowing for investment) into securities that make up the index, exchange-traded funds (ETFs) designed to track the index, or other financial instruments that provide leveraged daily exposure to the index. The S&P Mid Cap 400® Index itself measures the performance of 400 medium-sized companies located within the United States.