The Fund is a passively managed exchange traded fund that aims to track the performance of the Barclays Backwardation Tilt Alpha Capped ex-Precious Metals 1.75x TR Index (the Index), subject to the deduction of the ongoing charges and other costs associated with operating the Fund. The Index represents 175% leveraged exposure to the performance of the Barclays Backwardation Tilt Alpha Capped ex-Precious Metals 1.75x ER Index (the Long Underlying) relative to the performance of the Bloomberg Commodity ex-Precious Metals Index (the Short Underlying), and the returns on cash collateral to form a "fully collateralised" investment.