TPOR provides 3x leveraged exposure to the S&P Transportation Select Industry FMC Capped Index, a subset of the S&P Total Market Index that focuses on US transportation companies of all market capitalizations. Holdings are weighted by market-cap, subject to certain capping requirements. A maximum weight of 22.5% of the fund can be allocated to one company, and the aggregate weight of all issuers that individually exceed 4.5% of the index weight are capped at a maximum of 45%. The underlying index rebalances quarterly. As a geared product with daily resets, TPOR is designed as a short-term trading tool and not a long-term investment vehicle. Long-term returns could materially differ from those of the underlying index due to daily compounding. Prior to August 1, 2022, the fund tracked the Dow Jones Transportation Average Index.
