The Fund is an actively managed exchange traded fund that attempts to achieve the inverse of the return of the ARK Innovation ETF for a single day, not for any other period, by entering into a swap agreement on the ARK Innovation ETF. A single day is measured from the time the Fund calculates its net asset value (NAV) to the time of the Fund's next NAV calculation. The Fund will enter into one or more swap agreements with major global financial institutions for a specified period ranging from a day to more than one year whereby the Fund and the global financial institution will agree to exchange the return (or differentials in rates of return) earned or realized on the ARK Innovation ETF. The gross return to be exchanged or swapped between the parties is calculated with respect to a notional amount e.g. the return on or change in value of a particular dollar amount representing the ARK Innovation ETF. The ARK Innovation ETF is an actively managed exchange traded fund that seeks long-term growth of capital by investing under normal circumstances primarily (at least 65 Percent of its assets) in domestic and foreign equity securities of companies that are relevant to the Fund's investment theme of disruptive innovation. It is typically comprised of 35-55 companies. Additionally the Fund may invest between 40-80 Percent of the Funds portfolio depending on the amount of collateral required by the Funds counterparties in (1) US Government securities such as bills notes and bonds issued by the US Treasury; (2) money market funds; (3) short term bond ETFs and/or (4) corporate debt securities such as commercial paper and other short-term unsecured promissory notes issued by businesses that are rated investment grade or of comparable quality.