Rydex 2x S&P Select Sector Energy ETF (the Fund) seeks to provide investment results that match the performance of a specific benchmark on a daily basis. The Fund’s benchmark is 200% of the performance of the Energy Select Sector Index (the Underlying Index). The Underlying Index consists of the common stocks of industries, including oil and gas exploration, production, marketing, refining and/or transportation and energy equipment and services industries that comprise the Energy sector of the S&P 500 Index.