JOBC seeks to deliver 200% of the daily performance of Joby Aviation, Inc. (NYSE: JOBY), through derivatives such as swap agreements and exchange-traded equity futures to create leveraged exposure. JOBY is an aviation company developing electric vertical takeoff and landing (eVTOL) aircraft and air taxi services. It aims on commercializing aerial ridesharing and related aviation technologies. 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 JOBY, due to compounding effects. Collateral supporting these derivative positions may be invested in money market instruments, repurchase agreements, or short-term US government securities.