FA:
Without looking it up, I'm sure that fund is a double or triple beta - meaning it will significantly overperform OR significantly underperform. I plan on putting 10% into a double beta RYDEX short fund when Brinker makes his call - which would cover my 20% long position and make me, effectively, market nuetral.
Having said all that, I wasn't advocating shorting an ETF anyway. I was just saying I prefer trading ETF's over mutual funds. They are a ton easier to get in and out of without all this next-day crap.
Len