5 aug 2007 DFLCX has done poorly recently - esp compared with its more or less equivalent ETF closed end fund, DIA. Expense ratios about the same: 0.15 for the open fund and 0.18 for the closed. The ETF shorts for both are DOG, the reciprocal of the DJ30, and DXD, 2x the reciprocal.

ETFs have made it possible to short just about any open end fund out there but the investment advisors have not learned how to use them.

Hopefully they will soon learn because any fool can buy index funds and then "rebalance" them which is what the open end fund financial advisor business is all about. (Oh wait; I forgot about long term care insurance. Financial advisors sell long term care insurance, too. But that's not a conflict.)