Hi Joe - fyi SRS
How to lose 70% in 30 days or less
from etf fund guide..maierhof article...
To illustrate, the UltraShort Real Estate ProShares (NYSEArca: SRS - News) dropped from $259 a share to $57 a share in less than a month. $10,000 invested in SRS would have been reduced to a mere $2,200. In less than 30 days, SRS dropped twice as hard as the S&P 500 (AMEX: SPY - News) and Dow Jones (AMEX: DIA - News) in the entire year.
If used responsibly, there is no reason to shy away from short ETFs. You can thrive with short ETFs as long as you are aware of certain quirks. Our ETF Profit Strategy Newsletter has exploited the benefits of short ETFs for months.
Short ETFs and taxes
A look at current short ETF performance numbers and charts does not reflect the true picture. This is not because Morningstar and the Wall Street Journal have it wrong, it is simply the nature of the beast. Let me explain why.
The two most established short ETF providers, Rydex and ProShares paid out capital gains tax distributions earlier in December (read related article here). The distributions were huge, affected nearly all short ETFs (also called inverse ETF or bear ETFs) and ranged from 4% to 86%.
The ProShares UltraShort Industrials (NYSEarca: SIJ - News) paid a 44.3% short term capital gains distribution. From December 22nd to December 23rd, SIJ lost $47.85. This 44.3% drop is reflected in the chart. However, this 'one-day loss' is not accurately represented in the chart as investors will receive a cash payment of $47.85 per share.
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