This ETF offers inverse exposure to an index comprised of small cap U.S. equities as chosen by Russell, making it a potentially attractive option for investors looking to bet against this sector of the U.S. economy. It's important to note that MYY is designed to deliver inverse results over a single trading session, with exposure resetting on a monthly basis. Investors considering this ETF should understand how that nuance impacts the risk/return profile, and realize the potential for "return erosion" in volatile markets. MLPS should definitely not be found in a long-term, buy-and-hold portfolio, but may be a useful tool for more active investors looking to either hedge existing exposure or bet on a decline in small cap U.S. securities. Investors also have the option of simply selling short a traditional small cap fund, though that strategy will generally involve greater potential losses than utilizing an inverse ETF.