The Fund is an actively managed exchange traded fund that attempts to replicate 2x the inverse (minus 200 percent) daily percentage change of the Underlying Stock by entering into financial instruments such as swaps and options on the Underlying Stock. At the end of each trading day, the notional exposure against the Underlying Stock obtained through the combination of these instruments will be approximately minus 200 percent of the Funds net asset value. The Fund aims to generate the inverse daily performance of the Underlying Stock for a single day. A single day is defined as being calculated from the close of regular trading on one trading day to the close on the next trading day.