MVPL seeks to capitalize on the S&P 500's propensity to increase in value over long time horizons by opportunistically timing use of leverage when conditions seem favorable to do so. The fund is typically invested in a single unleveraged or leveraged S&P 500 ETF at any given time, depending on signals from proprietary models used by the fund adviser. The adviser uses an adaptive, data-driven approach to determine the daily trading signal, considering factors such as price levels, price changes, valuation, correlations, interest rates, and volatility measures. On a leveraged position, the fund invests in an ETF that provides 2x the daily performance of the S&P 500 and expects to be invested for periods greater than one day. As a result, the fund will be subject to the risks of compounding and its returns during this period can materially differ from that of the underlying ETF. The fund will not invest in a combination of unleveraged and leveraged ETFs at any time. Due to its investment strategy, the fund may engage in active and frequent trading.