Objective
The investment seeks daily investment results, before fees and expenses, of 300% of the inverse (or opposite) of the performance of the Russell 1000® Financial Services Index.
The fund, under normal circumstances, creates short positions by investing at least 80% of its assets in financial instruments that, in combination, provide leveraged and unleveraged exposure to the index. The index is a subset of the Russell 1000® Index that measures the performance of the securities classified in the financial services sector of the large cap U.S. equity market. The fund is non-diversified.
Profile
| Fund type | Open Ended Investment Company |
|---|---|
| Morningstar category | Trading-Inverse Equity |
| Launch date | 06/11/2008 |
| Price currency | USD |
| Domicile | United States |
| Symbol | FAZ |
| Manager & start date | Paul Brigandi 06/11/2008 |
Investment
| Total net assets | 543.07m USDAs of Apr 30 2013 |
|---|---|
| Market cap | 545.64m USD |
| Shares outstanding | 17.15m |
| Average volume (10-day) | 5.84m |
| Net expense ratio | 1.01% |
| Last dividend | -- |
| Div yield | 0.00% |
| Div ex-date | -- |
| Div pay-date | -- |
| Available for sale | Mexico, United States |
Diversification
Asset type
Cash | 405.72% |
|---|---|
Other | 0.00% |
Bond | 0.00% |
US stock | 0.00% |
Non-US stock | -305.72% |
Top 5 sectors
Cash & Equivalents | 414.69% |
|---|
Top 5 Regions
Regional weighting data is unavailable.
Top 5 holdings
| Company | 1 year change | Portfolio weight | Short allocation | Long allocation |
|---|---|---|---|---|
| Russ 1000 Finan Indx Swap | -- | -75.18% | ||
| Russ 1000 Finan Indx Swap | -- | -68.34% | ||
| Russ 1000 Finan Indx Swap | -- | -49.73% | ||
| Russ 1000 Finan Indx Swap | -- | -41.00% | ||
| Russ 1000 Finan Indx Swap | -- | -39.40% |