I’m not aware of any other widely available securities that have declined like these.
Two questions come to mind:
- Why would anyone invest in these perennial losers?
- Why doesn’t everyone on the planet short these funds?
It turns out that there are reasonable reasons to buy these funds, and some people make money doing it. And a lot of people short these funds; it’s a crowded trade—to the point where it’s sometimes not possible to borrow the shares to short them.
It’s not easy money either way.