Ok, I have also lost a fair amount in this fund, but with some patience we will start making some $$ (perhaps some big $$ soon). Here is my theory:

Take a look a the top 10 holdings (I have them listed below). I also have the links to the 10+ year charts for each of these companies. These charts look extremely similar to the Nasdaq companies back in 2000

http://finance.yahoo.com/q/hl?s=IYR


ASN: (This one is especially bad) http://www.marketwatch.com/tools/quotes/...

BXP: http://www.marketwatch.com/tools/quotes/...

EQR: http://www.marketwatch.com/tools/quotes/...

GGP: (another one that looks really bad); http://www.marketwatch.com/tools/quotes/...

HST: http://www.marketwatch.com/tools/quotes/...

PLD: (another really bad one) http://www.marketwatch.com/tools/quotes/...

PSA: (this could be the worst one yet): http://www.marketwatch.com/tools/quotes/...

SPG (This is the top holding and the chart looks horrific, there is no possible way this stock keeps going up at its current rate): http://www.marketwatch.com/tools/quotes/...

VNO: (Ok, this one takes the cake for the worst looking chart (remember Yahoo's chart at the end of 2000?) looked alot like this if I remember correctly. http://www.marketwatch.com/tools/quotes/...

HERE ARE SOME NASDAQ COMPANIES TO COMPARE THE PREVIOUS CHARTS TO:

NT: http://www.marketwatch.com/tools/quotes/...

JDSU: http://www.marketwatch.com/tools/quotes/...