Short ETFs

 
Average returns in this Category 3 months
return 		6 months
return 		12 months
return 		YTD
return
 
Short ETFs -13.61% -34.35% -24.44% -32.73%
 
 
 
 
 
Ticker
SPY
Name 3 months
return
6 months
return
12 months
return
YTD
return
 
DBX1SS DJ EURO STOXX 50 SHORT ETF 4.58% -19.86% 17.93% -2.57%
DBX1AH DJ STOXX 600 BANKS SHORT ETF 4.46% -43.74% 16.03% -33.03%
DBX1AJ DJ STOXX 600 HEALTH CARE SHORT ETF        
DBX1AL DJ STOXX 600 TECHNOLOGY SHORT ETF 2.5% -17.84% 13.99% -14.81%
DBX1AK DJ STOXX 600 OIL & GAS SHORT ETF 9.18% -9.94% 0.86% -10.73%
DBX1AM DJ STOXX 600 TELECOMMUNICATIONS SHORT ETF -2.52% -8.1% 8.45% 0.11%
PTD E-TRACS CMCI Short Platinum ETN -0.23% -7.92% -2.41% -14%
ERY Energy Bear 3X - Triple-Leveraged ETF -11.54% -65.66%   -59.17%
SAGR ETFS Short Agriculture ETF 11.08% -11.24% 15.88% -9.17%
SALL ETFS Short All Commodities ETF 3.56% -17.14% 25.61% -13.86%
SALU ETFS Short Aluminium ETF -18.44% -32.17% 32.78% -24.21%
SCOC ETFS Short Cocoa ETF -9.16% -23.74% -25.99% -22.2%
SCFE ETFS Short Coffee ETF 2.21% -13.22% 8.41% -15.29%
SCOP ETFS Short Copper ETF -23.55% -46.85% -18.36% -60.46%
SCOR ETFS Short Corn ETF 19.11% 60.11% -18.88% 19.29%
SCTO ETFS Short Cotton ETF 1.68% -25.03% 10.39% -15.99%
SOIL ETFS Short Crude Oil ETF 0.47% -28.74% 52.76% -30.55%
SNRG ETFS Short Energy ETF -100% -100% -100% -100%
SNEY ETFS Short Ex-Energy ETF -45.45% -73.33%   -82.86%
SGAS ETFS Short Gasoline ETF -20% 300% -52.38% 0%
SBUL ETFS Short Gold ETF -8.48% -10.61% -31.69% -21.94%
SGRA ETFS Short Grains ETF 9.61% -8.02%   0%
SHEA ETFS Short Heating Oil ETF 7.86% -32.23% 50.45% -28.41%
SIME ETFS Short Industrial Metals ETF -18.01% -38.89% -0.58% -44.22%
SLEA ETFS Short Lead ETF -20.38% -45.91% -34.91% -63.16%
SLHO ETFS Short Lean Hogs ETF 4.98% 32.93% 66.53% 35.47%
SLCT ETFS Short Live Cattle ETF -0.31% -0.61% 26.29% 5.15%
SLST ETFS Short Livestock ETF 4.09% 43.57% 53.63% 43.57%
SNGA ETFS Short Natural Gas ETF 20.21% 14.77% 118.18% 67.81%
SNIK ETFS Short Nickel ETF -14.87% -50.49% -24.51% -48.44%
SPET ETFS Short Petroleum ETF 2.06% 49.85%   49.85%
SPLA ETFS Short Platinum ETF -6.9% -23.22% -21.4% -35.55%
SPMT ETFS Short Precious Metals ETF -6.24% -14.58% -34.74% -23.29%
SSIL ETFS Short Silver ETF -16.16% -26.75% -50.43% -41.9%
SSFT ETFS Short Softs ETF        
SSYO ETFS Short Soybean Oil ETF 8.31% -5.8%   0%
SSOB ETFS Short Soybeans ETF 8.02% -26.12% -2.77% -19.06%
SSUG ETFS Short Sugar ETF -30.25% -38.34% -39.4% -46.39%
STIM ETFS Short Tin ETF 3.93% -30.66% -6.26% -39.81%
SWEA ETFS Short Wheat ETF 38.84% 23.98% 57.22% 35.86%
SZIC ETFS Short Zinc ETF -13.23%     0%
FAZ Financial Bear 3X - Triple-Leveraged ETF 432.64% -42.36%   -35.1%
DBX1AV FTSE 100 SHORT ETF 3.77% -12.61% 10.86% -1.98%
HBD Horizons BetaPro COMEX Gold Bullion Bear Plus ETF        
HOD Horizons BetaPro NYMEX Crude Oil Bear Plus ETF        
HND Horizons BetaPro NYMEX Natural Gas Bear Plus ETF        
HXD Horizons BetaPro S&P/TSX 60 Bear ETF        
HED Horizons BetaPro S&P/TSX Capped Energy Bear Plus ETF        
HFD Horizons BetaPro S&P/TSX Capped Financials Bear Plus ETF        
HGD Horizons BetaPro S&P/TSX Global Gold Bear Plus ETF        
HMD Horizons BetaPro S&P/TSX Global Mining Bear Plus ETF        
BGZ Large Cap Bear 3X - Triple-Leveraged ETF -36.03% -71.68%   -61.47%
DOY MacroShares Oil Down ETF 0.94% -7.65% -69.72% -78.22%
DRR Market Vectors Double Short Euro ETN -11.11% -24.16% -13.6% -12.99%
AGA PowerShares DB Agriculture Double Short ETN 14.09% -14.45% 42.19% 3.29%
ADZ PowerShares DB Agriculture Short ETN 6.44% -7.17% 21.17% 1.05%
BOM PowerShares DB Base Metals Double Short ETN -37% -62.95% -13.81% -64.74%
BOS PowerShares DB Base Metals Short ETN -15.29% -35.71% 1.9% -37.31%
DTO PowerShares DB Crude Oil Double Short ETN 15.72% -57.03% 100.17% -43.29%
SZO PowerShares DB Crude Oil Short ETN 7.5% -29.12% 63.81% -19.58%
DZZ PowerShares DB Gold Double Short ETN -15.39% -19.08% -52.54% -27.5%
DGZ PowerShares DB Gold Short ETN -8.21% -9% -28.73% -14.16%
UDN PowerShares DB US Dollar Index Bearish Fund 5.91% 12.75% 2.16% 6.72%
SEF ProShares Short Financials ETF -18.78% -51.28% -33.41% -39.12%
EFZ ProShares Short MSCI EAFE ETF -17.82% -41.09% -33.3% -27.46%
EUM ProShares Short MSCI Emerging Markets ETF -16.8% -43.48% -55.65% -43.93%
UPRO ProShares Ultra Pro Short S&P 500        
CMD ProShares UltraShort DJ-AIG Commodity ETF -3.18% -37.04%   -29.37%
SCO ProShares UltraShort DJ-AIG Crude Oil ETF 5.17% -50.65%   -44.69%
EUO ProShares UltraShort Euro ETF -9.11% -24.44%   -14.63%
FXP ProShares UltraShort FTSE/Xinhua China 25 ETF -26.98% -70.63% -91.05% -73.89%
GLL ProShares UltraShort Gold ETF -16.76% -21.48%   -33.19%
TBT ProShares UltraShort Lehman 20+ Year Treasury Bond ETF -18.75% -1.42% -27.48% 21.87%
PST ProShares UltraShort Lehman 7-10 Year Treasury Bond ETF -9.21% -4.14% -20.22% 0.68%
EFU ProShares UltraShort MSCI EAFE ETF -33.12% -66.57% -62.56% -51.77%
EEV ProShares UltraShort MSCI Emerging Markets ETF -32.17% -70.38% -86.84% -72.55%
EWV ProShares UltraShort MSCI Japan ETF -19.86% -54% -55.73% -30.93%
ZSL ProShares UltraShort Silver ETF -38.23% -55.01%   -68.99%
TLL ProShares UltraShort Telecommunications ETF -22.66% -55.94% -68.59% -53.82%
YCS ProShares UltraShort Yen ETF -15.14% -17.39%   -5.86%
RRZ Rydex Inverse 2x Russell 2000 ETF -29.68% -65.93% -44.52% -50.52%
RSW Rydex Inverse 2x S&P 500 ETF -24.43% -53.7% -32.12% -40.53%
RMS Rydex Inverse 2x S&P MidCap 400 ETF -28.11% -61.42% -57.16% -53.53%
REC Rydex Inverse 2x S&P Select Sector Energy ETF -11.41% -49.57% -93.88% -46.16%
RFN Rydex Inverse 2x S&P Select Sector Financial ETF -37.2% -84.63% -90.99% -80.98%
RHO Rydex Inverse 2x S&P Select Sector Health Care ETF -28.04% -35.46% -41.57% -28.91%
RTW Rydex Inverse 2x S&P Select Sector Technology ETF -20.83% -51.84% -73.51% -52.3%
TBF Short 20+ Year Treasury        
DOG Short Dow 30 ETF -11.76% -28.34% -13.61% -15.8%
MYY Short MidCap 400 ETF -15.78% -37.83% -23.73% -29.31%
PSQ Short QQQ ETF -14.86% -34.62% -19.93% -33.22%
RWM Short Russell 2000 ETF -15.54% -40.14% -34.79% -27.54%
SH Short S&P 500 ETF -12.97% -31% -17.42% -20.74%
SBB Short SmallCap 600 ETF -15.76% -39.74% -40.43% -24.32%
TZA Small Cap Bear 3X - Triple-Leveraged ETF -42.54% -82.62%   -72.83%
SCPB SPDR Barclays Capital Short Term Corporate Bond ETF       0.07%
SMN UltraShort Basic Materials ETF -35.19% -72.08% -71.11% -70.45%
SZK UltraShort Consumer Goods ETF -22.21% -46.61% -24.29% -31.96%
SCC UltraShort Consumer Services ETF -25.39% -55.01% -46.77% -46.14%
DXD UltraShort Dow 30 ETF -22.44% -49.91% -45.91% -32.77%
SKF UltraShort Financials ETF -35.64% -80.75% -76.35% -74.03%
RXD UltraShort Health Care ETF -27.63% -37.18% -43.44% -28.45%
SIJ UltraShort Industrials ETF -29.02% -64.47% -56.63% -46.19%
MZZ UltraShort MidCap 400 ETF -29.68% -63.39% -54.46% -54.56%
BZQ UltraShort MSCI Brazil        
EPV UltraShort MSCI Europe        
JPX UltraShort MSCI Pacific ex-Japan        
DUG UltraShort Oil & Gas ETF -10.01% -47.95% -66.4% -40.77%
QID UltraShort QQQ ETF -27.78% -58.52% -49.16% -58.26%
SRS UltraShort Real Estate ETF -45.32% -82.67%   -78.7%
SFK UltraShort Russell 1000 Growth ETF -22.82% -52.45% -44.82% -46.57%
SJF UltraShort Russell 1000 Value ETF -27.89% -58.53% -35.66% -41.16%
TWM UltraShort Russell 2000 ETF -29.57% -66.65% -56.36% -52.93%
SKK UltraShort Russell 2000 Growth ETF -30.27% -68.62% -66.42% -60.65%
SJH UltraShort Russell 2000 Value ETF -33.28% -68.69% -60.35% -50.69%
SDK UltraShort Russell MidCap Growth ETF -26.77% -62.05% -60% -59.06%
SJL UltraShort Russell MidCap Value ETF -37.47% -70.68% -61.83% -58.59%
SDS UltraShort S&P 500 ETF -24.46% -54.08% -43.76% -41.33%
SSG UltraShort Semiconductors ETF -36.26% -63.94% -73.03% -70.73%
SDD UltraShort SmallCap 600 ETF -29.38% -65.83% -53.16% -48.22%
REW UltraShort Technology ETF -26.25% -59.89% -58.78% -62.89%
SDP UltraShort Utilities ETF -24.01% -51.52% -54.39% -33.56%
DNO United States Short Oil Fund, LP        
           
 
 
 
  About Short ETFs  
Short ETFs Overview and forecast

This is one of the largest classes of ETFs, and one of the most complex. These ETFs deal with short selling commodities. Short selling is the process of selling stocks or commodities on the basis that the prices will fall before you sell. You "borrow" stock A from a brokerage house on the basis of a contract to buy at a future date. If Stock A is worth $100, and you borrow that stock and sell at $100, when you pay for the shares at a market price of $80, you make $20 per share.







Short selling has recently acquired a bad reputation for manipulating stock and commodity prices, in the wake of the oil price boom and bust, and the stock market crash. This is more than slightly disingenuous, because short selling has been for years a basic hedging strategy against drops in asset portfolio prices.

The Short ETFs, however, which work across whole indices and classes of asset, have recently been hit by the market revival. One look at their returns will show a massive fluctuation from the crash to the revival. They did well on the global downturn, but were then hit by the relatively sharp upturn in the second quarter of 2009.

The best description of the market for the Short ETFs is "brutal". The Short ETFs are subject to massive market forces from not only their own indices, but related sectors. If, for example, the Short ETF is in construction materials, and the building industry crashes, the construction ETF is doing well. If, however, the building industry stagnates, and sticks in a narrow range, profits are likely to be mediocre at best.

The Short ETFs themselves, naturally, get penalized by index moves. The result of this process is that the Short ETFs, as a class have been put through the blender, several times. A worthwhile study is Direxion Daily Energy Bear 3X Shares (ERY). The basic chart over this ETF's brief existence is an indicator of how ferocious the Short ETFs' market can be.

ERY

The energy sector is one of the roughest of the lot, and ERY has been on the receiving end of the market fury in both directions. Despite that, this ETF trades very well in terms of volumes. You'll notice a big peak in both prices and volumes of trade in February- March 2009, followed by a pretty savage decline in the market upswing period.

The Short ETFs, being by definition short- sellers, are very much valued in relation to their markets. The problem is that this valuation can affect their valuations drastically, in dollar terms. Investors need to be very clear on the way the Short ETFs operate, and how their prices respond to the markets.

Short term (6 months)

In any sense, the short term for the Short ETFs is always active. There's almost no such thing as a static period. A Short ETF linked to something like gold, for example, can move at great speed up and down. Gold indices made a huge jump at the end of 2008, and plunged almost immediately in early 2009. Over time, they're still ahead across 2008, but in trading terms, the hit came very rapidly at the top of the market for Short ETFs.

Although they benefit from initial falls within their trades, a declining market creates problems, because the short prices are reduced. Selling short on obviously declining prices isn't really that easy. You can also get stuck with commitments where profits are also short.

So it's not a good idea to blink too often when trading Short ETFs. The 6 month period in commodities will be as rough as usual, maybe more so. The trading position is very much an acquired taste, and investors will need to look at risk before profits.

Medium term (2 years)

In the nature of short selling, time frames tend to be subjective and the Short ETFs don't behave as a class, more like specialists within a broad definition. The good news is that the Short ETFs aren't exactly passive. They have to maneuver, and work their positions continuously. In a market like metals, for example, that's a potentially very good strategy.

Copper was a case in point. The drop in copper prices has decimated the long positions, but it's been good for the short sellers. This kind of ultra- sensitive price, where a move in spot prices for metals can be a reason for a mass exodus, is good hunting for the Short ETFs.

In the medium term, the likelihood of a very bumpy, patchy, recovery spells some opportunities for the Short ETFs. Investors should note, however, that the onset of a bull market, when it eventually happens, will pose a few problems for these ETFs. Repositioning on short sales positions doesn't happen instantly, for obvious reasons, when prices are rising consistently.

Long term (5 years)

Short ETFs are a survival mechanism, and their popularity as traders won't be too badly damaged by a bull market down the track. As a hedge, ironically, they're a good long term bet. That fact, as a matter of fact, is part of the concept of buying "spreads" of ETFs, to cover market conditions. Short ETFs are definitely part of any standard mix of ETF holdings.






Five years is an eternity to short sellers, and it's not likely to get dull for traders or investors, over the long term. Levels of commitment to the Short ETFs will be pretty variable, and they're more likely to continue as good traders than in their original incarnation of high value unit holdings. They're excellent traders in their fields, and they do represent coverage of other positions. Investors should do some strategic evaluations about how they want to approach these hyperactive holdings.

Qualifiers to projections

It would be na?ve in the extreme to consider Short ETFs a simple investment. They're part of the picture, in terms of investing in the ETF market, but they're definitely not the whole picture, and the basic idea of investment diversification holds good. Investors require familiarity with the sectors in which Short ETFs operate, or they'll get some nasty surprises.

The Short ETFs are not for amateur investors. The very talented and the very experienced know how to handle short selling scenarios, but anybody else should learn the ropes thoroughly before entering the incinerator.
 
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Last Updated on: 2010-01-14 02:03:40
 
 
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