ASMZ seeks to deliver 200% of the daily performance of ASML Holding N.V. (NASDAQ: ASML), through derivatives such as swap agreements and exchange-traded equity futures to create leveraged exposure. ASML engages in the development, production, marketing, sales, upgrading and servicing of advanced semiconductor equipment systems. It includes lithography, metrology and inspection systems. The portfolio is rebalanced at the end of each trading day to maintain its targeted leverage level, meaning returns over periods longer than a single day can differ significantly from two times the cumulative return of ASML due to compounding effects. Collateral supporting these derivative positions may be invested in money market instruments, repurchase agreements, or short-term US government securities.