They are not a short fund, but I agree if you don't understand what they do, don't buy into it.
From July until December they are down 1 billion in FUM and that has resulted from $5.00 a share down to $2.36
From 23 billion FUM to 22 billion, the worst of which was during October and has been improving since.
The reason they have "under-performed" index funds, they held cash, shorted Nasdaq as a portfolio hedge and didn't purchase FAANG stocks.
They are value investment fund who purchase assets under fair value with a 2-5 year outlook for upside.
Their style of portfolio management, did not keep up with this unrealistic tech bubble we have been in since mid 2020.
This is a screaming buy with the market we are in the middle of currently, they are net short 23% Nasdaq100 and Russell2000
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