Commodities are also traded by leveraged commodity funds that, in turn, trade as fund shares. These are often split into bull and bear funds, making it clear which market position they are taking. Unlike a direct futures or options position, an investor in a bear or bull fund is buying shares in the fund that is using its available capital to make direct and indirect trades related to the underlying commodity. For example, a leveraged fund can hold futures, options, shares, and other financial instruments like contracts for difference (CFD) with the goal of delivering some multiple of the reference indices performance. So a leveraged oil fund looking to provide two times West Texas Intermediate Crude Oil (WTI), for example, is aiming to give you two times whatever the change is in WTI short-term price.