The investment seeks monthly investment results, before fees and expenses, of 200% of the price performance of the S&P 500 index. The fund normally invests at least 80% of assets in the equity securities that comprise the S&P 500 index and/or financial instruments that, in combination, provide leveraged exposure to the index. It creates long positions. The fund may hold U.S. government securities and repurchase agreements to collateralize these futures and options contracts and swap agreements. It is nondiversified.