In short (pun intended), because they suck.
Banks are a rocky sector right now but investing in either one of these ill-managed ETFs is a gamble at best.
Not an investment.
No, I avoid poor ETFs like this. If I want to bet against banks, I'll short them directly.
Or on the other side of that trade, I won't choose a money loser like FAS which should be infinitely higher than it was in the end of 2008, not unbelievably lower.
You must be a "little" slow in comprehending the meaning of "DAILY Financial Bear 3X"!!
When you finally get to understand the meaning of DAILY, then you would-one hopes- stop calling these DAILY trading ETF's an "investment"; hence referencing their present values to their historical values!
I don't know for what purpose people like you even bother to post on these ETF boards if they have no vested interest one way, or the other!
You're the last person to recognize a scam when you see one.
FAZ is great for a VERY short term trade. I'm willing to trade it on pure technicals. But anyone holding the bag on either one of these pathetic ETFs is in for a world of hurt.
Past performance is the real scam if that wasn't already blitheringly obvious to everyone here.
I don't think anyone on this board is reading this ETF right.
Two ETFs, supposedly 3x the opposite of one another, and BOTH down from the beginning of 2009.
If either of these "funds" are the best idea for investing someone can come up with, there is one who is bereft of good ideas.
I don't think you and many others are reading this ETF right. Your statement is like saying options lose value and thus anyone who uses them does not know what they are doing. It is amazing the ignorance people have about leverage and the 2x 3x ETFs. How do you think we get 3x movement, due to nice people willng to give 3x payback for no charge? If you want to short or long using ETFs and cannot handle the decay factor, I suggest you people stick to 1x ETFs but be aware even they have some costs associated with them.