The iPath® Short Extended Russell 1000® TR Index ETN is linked to a leveraged return on the inverse performance of the Russell 1000® Total Return Index (the "Index"). The Index is designed to track the performance of the large-cap segment of the U.S. equity market. It is a subset of the Russell 3000® Index and includes the 1,000 largest companies included in the Russell 3000® Index as measured by total market capitalization. As of October 29, 2010, the Index represented approximately 92% of the total market capitalization of Russell 3000® Index and is reconstituted annually by the index sponsor according to the index methodology, with the objective of reflecting in the index performance new and growing equities meeting the criteria for inclusion.
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