any idea why etfs like dog & qid are down today when the market is down?

Question

i thought these type of etfs track the inverse return of the underlying index, but now i'm confused since both the underlying index & these etfs are down on the same day like today. any idea?

Answer 1

The word you seem to have missed somewhere was "tend"--this or that may TEND to track inversely to the general market or some industry trends.

The closest thing to a slam-dunk are seasonal stuff. You may buy more softdrinks and swim suits during summer than winter and you may tend to buy more coffee, cocoa, and use natural gas to heat with during winter than summer. There are trends, nothing is absolute or guaranteed.