The fund seeks to provide two times leveraged long exposure to the compounded monthly performance of the Index, before fees and expenses, by investing in companies in the United States.

The Index is designed to track the price movements of an equally weighted portfolio containing two U.S. preferred stock ETFs.

Each of the ETFs seeks to track the performance of separate indices, which measure the performance of a select group of preferred stock securities.

In addition, the fund may pay a variable monthly coupon linked to the leveraged cash distributions associated with the underlying index constituents.