*lentinman, I think going long a reputable bear fund such as USPIX would sizeably outperform going short an ETF...
Here's USPIX vs. QQQQ for the past 6-months to illustrate the gains... USPIX went from 15.69 to 20.86, gain of 32.95%, while the Q's went from 40.13 to 34.70, losing 13.53%!...