FBGX provides 2x leveraged exposure to the Russell 1000 Growth Total Return Index, an index of US large-cap growth stocks, selected using a multi-factor approach considering those with higher price-to-book ratios and higher forecasted growth values. Unlike most geared products, the note resets its leverage only quarterly. This strategy of quarterly resets mutes the effects of compounding and path dependency that plague other leveraged funds, but it also means that the note's effective leverage can float away from 2x in between resets. FBGX is a 'bespoke' product, created for Fisher Asset Management and its clients. The notes are unadvertisedlacking even a websitebecause they arent intended for individual investors.