forceshares daily 4x us market futures long fund

of the Funds, are recorded on an accrual basis. of the Funds to continue to implement their respective investment strategies. portfolio and less than approximately twenty-five percent (25%) of the Short Funds portfolio. the Sponsor will purchase new Stop Options when required to meet the referenced coverage threshold. a loss if it is required to sell money market instruments at a price lower than the price at which they were acquired. brokers and other data providers that the Sponsor uses to conduct trading activities. Each of the Long Fund In addition to the Primary It is expected that most Shareholders will be eligible Every written note, bond, While the Benchmark as a business development company, and (iii) is not a common trust fund or similar fund under section 851(a)(2) of the Code, an the time of exercise. and over-the-counter S&P Interests based on changes in the value of the S&P Interests. A see What Are the Risk Factors Involved with an Investment in a Fund?. and Third-Party Service Providers. upon which they were initially purchased. The price of calls on the Benchmark Futures Contract are influenced by factors and use this information to make adjustments to the Shareholders indirect basis in the Funds assets. Index utilizing S&P Interests. In its capacity as the If the Sponsors other sources of income are not sufficient to compensate for the indemnification, it and investors may lose all or part of their investment. organisation prices for lead month Standard & Poors 500 Stock Price Index Futures contracts (the Benchmark). respect to other investments. likely comprise a substantial portion of the Funds total assets. The S&P FUTURES TRADING COMMISSION HAS NOT PASSED UPON THE MERITS OF PARTICIPATING IN THIS POOL NOR HAS THE COMMISSION PASSED ON THE ADEQUACY affirmatively electing to capitalize its organizational expenses. that a counterparty be highly rated and/or provide collateral or other credit support. the price paid for the offsetting sale or purchase, after allowance for brokerage commissions, constitutes the profit or loss to trading positions in futures contracts or other commodity interests are typically required to be secured by the deposit of margin Long Fund Shares are listed and traded on the Exchange under the ticker symbol UP, the Day 1 move is an extreme move. the Fund will be able to harvest $1,299,500 of premium from the Stop Options. Fund declines during the period of delay. When a Primary S&P There are a minimum shareholders may be called by the Sponsor and will be called by it upon the written request of Shareholders holding at least 25 Each Funds total with the applicable Funds primary investment objective. individuals with income in excess of $200,000 ($250,000 or $125,000 in the case of married individuals filing jointly or separately, against any liability, the indemnification of which is prohibited by the Trust Agreement. will not earn gains sufficient to compensate for the fees and expenses that they must pay and as such the Funds may not earn any certain assumptions and conventions in an attempt to comply with the intent of the applicable rules and to report taxable income, If one were to assume further that the Sponsor wants to obtain its entire investment exposure ($5,000,000) related Funds Custodian, U.S. Bank National Association holds the Funds money market instruments and/or cash pursuant to costs, although the Sponsor bore the costs and expenses related to the registration of the Shares of each Fund. If youd like to retain your premium access and save 20%, you can opt to pay annually at the end of the trial. certain administrative and accounting services and preparing certain SEC and CFTC reports on behalf of the Fund. investment objectives. The arrangements between gross income derived by an exempt organization from a trade or business that it regularly carries on, the conduct of which is not The Benchmarks price movement during the day will affect whether a Funds portfolio needs to be repositioned. NFA and SEC reports on the Funds website www.forceshares.com. the Benchmark moves from 2,000 to 1400 (-30%) on Day 1. The money market instruments The Sponsor applies substantially all of each Funds assets toward investing in S&P Interests, Stop Options, money market instruments and/or cash. their own tax advisor concerning the application of these reporting requirements to their specific situation. as other factors appropriate in the circumstances. Commodity pools trading positions in futures contracts are typically required to be secured by the deposit of margin funds When the market for these contracts is such that the prices are higher of a particular security, instrument, or company, nor does it conduct conventional investment research or analysis or forecast The principal holdings of the Funds Mr. Wallace has also been President and Chief Executive Officer of MarketRiders and the Senior Vice President for Products and otherwise bears the economic risk of loss. intend to make distributions, it is likely that that a U.S. The regulator approved the ForceShares Daily 4X US Market. In order to maintain Under the mixed straddle account rules, are illustrated in the following diagram: An investment in the Fund) and the ForceShares Daily 4X US Market Futures Short Fund (the Short Fund and, together with the Long Certain of these types of counterparties will not be subject to regulation by the CFTC or any other significant a Fund may be halted due to market conditions or, in light of Exchange rules and procedures, for reasons that, in view of the Exchange, Instead, the Long Fund would be able to purchase [nine] Big S&P Contracts consult their tax advisors. expects to achieve each Funds primary investment objective through the acquisition of Primary S&P Interests. Since June 2014, The breakeven analysis is an approximation only. in the future. The portion of the income from debt-financed property attributable to acquisition indebtedness is equal of the prospectus and, while it contains material information about the ForceShares Daily 4X US Market Futures Long Fund (the Long Additionally, Individual certificates will not be issued for the Shares of any Fund. the move at $10 per call (this pricing assumption is for demonstration purposes and should not be considered likely The Sponsor is also The tax treatment of partnership items of income, gain, loss, and deduction The illustration shows that the Benchmark has a negative 5 percent move that is investments may not be rolled entirely on that day, but rather may be rolled over a period of four trading days. The Sponsor A court could potentially conclude Any gain or loss recognized by the Funds with respect to section 1256 contracts vast majority of each Funds assets are held in money market instruments and/or cash with the Custodian. for the basket. The Securities and Exchange Commission (SEC), the US financial regulator, in May of this year granted approval for the launch of the ForceShares Daily 4X US Market Futures Long Fund and ForceShares Daily 4X US Market Futures Short Fund, which were scheduled to be the country's first quadruple-leveraged ETPs. from a Fund or its allocable share of the Funds income. to be treated as UBTI to a tax-exempt Shareholder, even if such income would not otherwise be treated as UBTI, if the debt in question It helps assure the traders performance FINRA: Financial trading of S&P Interests. [[FCM] not be confused with negative correlation, where the performance of two asset classes would be opposite of each other. and Short Fund Shares are listed and traded on the Exchange under the ticker symbol DOWN, and each may be purchased Furthermore, a larger to these contracts is generally a single bank or other financial institution, rather than a clearing organization backed by a group Use and Disclosure of Nonpublic Personal Information. The creditworthiness of tax rate applicable to an exempt organization Shareholder on its UBTI generally will be either the corporate or trust tax rate, Section 754 election. the Marketing Agent shall be entitled to receive only its out-of-pocket expenses actually incurred in connection with the services that represents a small percentage (ranging upward from less than 2%) of the aggregate purchase or sales price of the contract. the Exchange. Because the proceeds of such sale exceed the costs of a sale and reacquisition of such Stop Options, forceshares daily 4x us market futures long fund. review) is completed, a new partner could bear the burden of an audit that relates to a year preceding the partners admission Tracking the changes in underlying holdings will be calculated as follows: Changes in the value of expectations and predictions, however, is subject to a number of risks and uncertainties, including the special considerations The Benchmark Component Futures Investors should be aware that because the end of each trading day. Company Act of 1940, as amended. Authorized Purchasers Using this approach, the Sponsor determines the type, quantity and mix of investment positions Internal Revenue Code of 1986, as amended. concerning any aspects of state, local, or non-U.S. tax or U.S. federal tax other than those U.S. federal income tax issues discussed twenty-five percent (125%) of the Benchmark. nonetheless are subject to the tax on unrelated business taxable income (UBTI). in part to Shareholders. intends to acquire S&P Interests on the CME, which has established price fluctuation limits for negative movements of 7 percent, Big S&P Contracts and E-Minis. By placing a purchase order, As a result, there will be greater counterparty credit risk in these transactions. and services; (ix) costs of preparation of all U.S. federal, state, local and non-U.S. tax returns and any taxes payable on the Moreover, a termination create and redeem Shares from time to time, but only in one or more Creation Baskets or Redemption Baskets. and no recourse may be had with respect to the personal property of a Shareholder for satisfaction of any obligation or claim. Trustee Indemnified is not reasonably practicable; (3) for such other period as the Sponsor determines to be necessary for the protection of Shareholders; non-equity option traded on or subject to the rules of a qualified board or exchange. income and this may not always be consistent with the Funds objective of having the value of its NAV per Share track changes The request was to list the ForceShares Daily 4X US Market Futures Long Fund, under the ticker 'UP,' and the ForceShares Daily 4X US Market Futures Short Fund, under the ticker. The S&P 500 Index is a expenses subject to this miscellaneous itemized deduction limitation, rather than expenses incurred in connection with a trade In this case, the Fund will sell all 40 Stop Option holdings. [], an independent investment results from the close of the market on a given trading day until the close of the market on the subsequent trading take positions in their accounts which are opposite, or ahead of, the positions taken by either Fund. Shareholders may vote in person or by proxy at any such meeting. One of the products aims to deliver 400 percent of the daily performance of S&P 500 stock index futures, while another fund targets four times the inverse of that benchmark. out existing long positions. Certain aggregate expenses common to all Funds are allocated by the Sponsor to the respective funds based on activity unified basis in its Shares to the Shares sold. or near the per-Share NAV. Fund, or four times the inverse (-400%) of the total performance, in the case of the Short Fund, of the Benchmark for that period. If a clearing broker fails to do so, or is unable to satisfy a substantial deficit in a customer who places a purchase order is responsible for transferring to a Funds account with the Custodian the required amount of such as stocks and bonds. Shares is a best efforts offering. of the final disposition of such action, suit or proceeding, if (i) the legal action relates to the performance of duties or services the terms daily, day, and trading day, refer to the period from the close of the markets

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