RANGER EQUITY BEAR ETF: (AMEX: HDGE)

This ETF is active & does not track a benchmark. Instead, the fund looks to provide investors with capital appreciation through short sales of domestic equity securities. The fund managers look to identify securities with low earnings quality or aggressive accounting and short those, thereby providing investors with a hedge against low earnings quality as well as broad stock market declines.

Its investment is capital appreciation through short sales of domestically traded equities. It is managed by Ranger Alternative Management who implements a bottom-up, fundamental security selection. In selecting short positions, the Fund seeks to identify securities with low earnings quality or aggressive accounting to mask operational deterioration & bolster the EPS over a short time period.