Thanks Troydt, you are 100% correct.I've had 3 different posters...

Thanks Troydt, you are 100% correct.I've had 3 different posters say that I'm exposed to the shorting option directly, which is not the case.My error for not double check this, but your comments were my original understanding and I also had it confirmed today.I like the exposure it gives me, because I have weighted it to be a hedge (against my current holdings) that works in my favour should the US market tank.I believe there is a very good chance of this happening, sooner rather than latter, but obviously not a good idea to be in too heavy. I've re-entered my position, and will learn to be 100% certain of all aspects before buying in future.All the same it's interesting that some posters are totally unaware how the fund works.