TYO Daily 7-10 Year Treasury Bear 3x Shares ETF

Overview

Fund Symbol TYO
Daily Target -300%
Intra-day Indicative Value TYO.IV
Bloomberg Index Symbol AXSVTN
CUSIP 25459W557
ISIN US25459W5572
Gross Expense Ratio 0.99%
Net Expense Ratio 0.95%*
Inception Date Apr 16, 2009

Pricing and Performance

Our third-party service provider (The Bank of New York Mellon) has been unable to calculate NAVs due to an issue with its technology systems. For August 28, 2015, because the official net asset value is not yet available, the information presented regarding "net asset value" is the publicly disseminated closing indicative net asset value. This represents the best available information at this time.

Price Information
NAVs and market price information as of August 28, 2015

Ticker Fund Name NAV NAV Change $ NAV Change % Market Price Closing Market Price Closing Change($) Market Price Closing Change(%) Premium / Discount
TYO Daily 7-10 Year Treasury Bear 3x Shares No Pricing Information

Performance
NAVs and market price information as of August 28, 2015

All data as of 7/31/2015
Ticker Fund Name   1 Mo % 3 Mo % YTD % 1 YR % 3 YR % 5 YR % 10 YR % Since Inception Inception Date Expense Ratio* (Gross/Net %)
TYO Daily 7-10 Year Treasury Bear 3x Shares NAV -4.99 -0.29 -8.07 -19.85 -8.97 -17.92 -16.76 0.99 / 0.95*
Market Close -5.21 0.23 -8.17 -20.20 -9.20 -17.96 -16.73
All data as of 6/30/2015
Ticker Fund Name   1 Mo % 3 Mo % YTD % 1 YR % 3 YR % 5 YR % 10 YR % Since Inception Inception Date Expense Ratio* (Gross/Net %)
TYO Daily 7-10 Year Treasury Bear 3x Shares NAV 4.29 6.48 -3.24 -15.48 -8.83 -17.40 -16.28 0.99 / 0.95*
Market Close 3.75 6.66 -3.13 -15.47 -8.80 -17.38 -16.22

* The Net Expense Ratio includes management fees and other operating expenses, but does not include expenses such as Acquired Fund Fees and Expenses, leveraged interest and brokerage commissions. The Funds’ Advisor, Rafferty Asset Management, LLC (“Rafferty”) has entered into an Operating Expense Limitation Agreement with the Fund. Under this agreement, Rafferty has contractually agreed to cap all or a portion of its management fee and/or reimburse the Fund for Other Expenses through September 1, 2016 to the extent that the Fund’s Total Annual Fund Operating Expenses exceed 0.95%.

The performance data quoted represents past performance; past performance does not guarantee future results; the investment return and principal value of an investment will fluctuate; an investor’s shares, when redeemed, may be worth more or less than their original cost; current performance may be lower or higher than the performance quoted. Returns for performance under one year are cumulative, not annualized.

Short-term performance, in particular, is not a good indication of the fund’s future performance, and an investment should not be made based solely on returns. Because of ongoing market volatility, fund performance may be subject to substantial short-term changes. For additional information, see the fund’s prospectus or summary prospectus. Index performance does not include any fees or expenses, are unmanaged and cannot be invested in directly.