RXL delivers daily 2x returns of the S&P Health Care Select Sector Index, a broad, cap-weighted index that includes health care equipment & supplies, health care providers & services, health care technology, biotechnology, pharmaceuticals, and life sciences tools & services. Investors should be cognizant of the fund's daily rebalancing, which can lead to profound differences in expected returns over the long haul. Still, compounding is a double-edged sword, it can work in investors' favor in trending markets. Over longer periods, returns can vary significantly from its headline 2x target returns. Prior to March 20, 2023, the fund provided exposure to the Dow Jones U.S. Health Care Index.
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