Here's the backstory...
Nasdaq HANDLS™ Indexes are a series of 100% rules-based indexes defining a diversified portfolio of exchange-traded funds that have historically produced high risk-adjusted returns as defined by the Sharpe Ratio.
The Nasdaq 7HANDL™ Index, for example, was specifically developed with the goal to support, from total return, a 7% distribution rate, net of estimated expenses, after incorporating 23% structural leverage. Accordingly, returns for the index are calculated assuming leverage on the underlying portfolio in the amount of 23% (net of the estimated cost of employing such leverage).
HANDLS™ Indexes therefore have risk characteristics similar to the broad US capital markets and can be expected to generally rise and fall with prevailing market conditions. All HANDLS™ Indexes are split into two components, with a 50% allocation to a Core Portfolio and a 50% allocation to an Explore Portfolio.