Investing in the funds of this algorithm involves a high degree of risk. Unlike traditional ETFs, leveraged ETFs pursue daily leveraged investment objectives, which means they are riskier than alternatives which do not use leverage. They seek daily goals and may not track the underlying stock’s performance over periods longer than one day. They are not suitable for all investors and should be utilized only by investors who understand leverage risk and who actively manage their investments. The Funds will lose money if the underlying stock’s performance is flat, and it is possible that any of the ETFs may lose money even if the underlying stock’s performance increases over a period longer than a single day. Investing in the Funds is not equivalent to investing in their underlying instruments.

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The performance data quoted represents past performance. Past performance does not guarantee future results. The investment return and principal value of an investment will fluctuate. An investor’s shares, when redeemed, may be worth more or less than their original cost. Current performance may be lower or higher than the performance quoted. Returns for performance under one year are cumulative, not annualized. Short-term performance, in particular, is not a good indication of a fund’s future performance, and an investment should not be made based solely on returns. Because of ongoing market volatility and rotation, algorithm performance may be subject to substantial short-term changes. ​​