BetaPro S&P 500 -2x Daily Bear ETF

HSD seeks daily investment results, before fees, expenses, distributions, brokerage commissions and other transaction costs, that endeavour to correspond to two times (200%) the inverse (opposite) of the daily performance of the S&P 500 (the Underlying Index, Bloomberg ticker: SPXT). HSD is denominated in Canadian dollars. Any U.S. dollar gains or losses as a result of the ETF’s investment will be hedged back to the Canadian dollar to the best of the ETF’s ability. If HSD is successful in meeting its investment objective, its net asset value should gain approximately two times as much on a given day, on a percentage basis, as the S&P 500 when this Underlying Index declines on that given day. Conversely, HSD’s net asset value should lose approximately two times as much on a given day, on a percentage basis, as the S&P 500 when this Underlying Index rises on that given day.