Leverage / inverse caveat

This fund tracks its index at 2x.

That 2x applies to a **single day**. Held longer, the daily reset makes the period return drift from 2x the index: if the index chops up and down and returns to where it started, this fund is still down. That is volatility decay.

It bites hardest in sideways markets and compounds with holding time. These are built for short directional trades.

How concentrated is it

Concentration (HHI) is low at 339, with the top 10 holdings at just 51.5% of equity weight. No single name can dominate the fund.

Good for damping single-stock risk — and equally, a big winner inside gets diluted.

HHI squares each weight and sums them: 10,000 means one stock is everything, and the more evenly spread the holdings, the closer it falls to zero.

Where the sector weight sits

Sector weights run Information Technology(45%) · Semiconductors(37%) · Communication Services(11%). At 45%, the leading sector is a clear tilt.

Expect it to ride that industry's cycle — ahead of the index in good stretches, behind in bad ones.

Weights above sum the individually listed equities and normalize that equity total to 100%.

How much it overlaps others

It shares 50% of its holdings with AIQ (13 names in common) — close to half the same companies.

Own both and the diversification is thinner than it looks.

What it is made of

The fund holds 43 positions in total; this page lists the largest 19 and folds the rest into "Others".

The expense ratio is 0.96% a year, which is not cheap. Fees come out of returns every year you hold, so it is worth checking whether the same index is available for less.