The fund offers enhanced exposure to the large- and mid-cap segments of the developed markets, excluding North America. Through the use of cash borrowing, the fund aims to provide 1.25x leveraged exposure to the MSCI EAFA , an index representing 85% of the free float-adjusted market capitalization within the developed markets. Index constituents are market-cap weighted and rebalanced quarterly. As a geared product with daily resets, the fund is designed as a short-term tactical instrument and not a long-term investment vehicle. As a result, long-term returns could materially differ from those of the underlying index due to daily compounding.