RXD provides daily geared inverse (-2x) exposure to the S&P Health Care Select Sector Index, a broad, cap-weighted index that includes health care equipment & supplies, health care providers & services, health care technology, biotechnology, pharmaceuticals, and life sciences tools & services. Investors should be cognizant of the fund's daily rebalancing, which can lead to profound differences in expected returns over the long haul. Still, compounding is a double-edged sword, it can work in investors' favor in trending markets. Due to daily compounding, it`s unlikely to achieve its stated exposure and returns for longer than a 1-day period. Prior to March 20, 2023, the fund provided exposure to the Dow Jones U.S. Health Care Index.
