BetaShares Australian Equities Bear Complex ETF (BEAR) $7.50

The BEAR ETF, traded on the ASX, is negatively correlated with the ASX 200, with no leverage. Fees are relatively high at 1.38%, but it’s an easy way to “play” the market from the short side. For example, when the ASX200 corrected by almost 17% earlier this year, the BEAR ETF spiked over 18%. Over time tracking is not great, with over the last 3-years the BEAR falling 8.1% while the ASX200 has gained 15.5%, illustrating how, to us, this is a relatively short-term vehicle. The chart below also demonstrates the wealth destruction that can result from holding bearish ETFs for too long.

• We believe it’s too early to consider the BEAR, but it may be an option at some stage through 2025/6.