@stayCalm -
Good luck. Let me know if you find the perfect hedge. I learned long ago that betting on both sides of a sports event (hoping you can get out of one position early) tends to be a loosing proposition. Mainly because there’s associated expenses (the casino’s “take”) on both sides, so you simply double your cost.
Holding any hedge is costly even if it works. You’re essentially betting on both sides as I understand it.
I started using DOG (100% inverse Dow) with some success back in October and noted it here. But the potential for loss seemed too great. So in November I started using TAIL (+.57% today). It only moves (inversely) about 50% of the major markets most days. However, historically it’s done much better after steep sell offs. I’m close to break even on the hold - probably out a few $$. Cost aside, it helps smooth out the daily value fluctuations. Hard to put a price on that. I like DRSK somewhat, but haven’t owned it.
If these were fuels:
DOG 100 octane
TAIL 85 octane
DRSK 60-70 octane
Keep in mind that higher octane is more potent on the downside as well as upside.
Haven’t looked at BEARX closely. But the 3% ER is a turn-off. Today it gained 1.25% which puts it about midway between the Dow and NASDAQ (on an inverse basis) - 100 octane.

TIPS have higher durations than Treasuries of comparable maturities, so they are hit worse from rising rates.
That seems a little odd. Do you have a source?
The relationship between inflation adjusted (real) durations and nominal durations is somewhat complex. To simplify matters, we can assume the Fisher hypothesis holds literally:

The Fisher hypothesis, which states that nominal interest rates rise point-for-point with expected inflation, leaving the real rate unaffected, is one of the cornerstones of neoclassical monetary theory.

Barsky, The Fisher Hypothesis and the Forcastability and Persistence of Inflation, Journal of Monetary Economics 19 (1987).
That is, real rates don't change; nominal rates change in lock step with inflation. If inflation goes up by 1%, nominal rates go up by 1%. The real rate doesn't change. Since TIPS adjust yield for inflation, their prices should change only as a result of changes in real rates, which by assumption are nonexistent. Thus zero duration.

[Laatsch and Klein] confirm that TIPS bonds have zero sensitivity to changes solely in expected inflation. By changes solely in expected inflation, we mean that the real rate remains unchanged and the nominal rate changes in accordance with the established Fisher [Publ. Am. Econ. Assoc. 11 (1896)] effect. [They] show that the first derivative of the TIPS price [i.e. duration] is zero whenever the real rate is held constant.

Laatch and Klein, The Nominal Duration of TIPS Bonds, Review of Financial Economics Vol 14, Issue 1 (2005)
They go on to say that even relaxing the Fisher hypothesis (so that real rates change) "if expected inflation changes ... zero-coupon TIPS prices ... will change by a smaller percentage than will zero-coupon ordinary Treasury bonds."
Shorter duration for zero TIPS than for ordinary (nominal) zeros.
Here's PIMCO's "translation": TIPS should perform better in a rising interest rate environment than conventional Treasury bonds because their inflation adjustments provide better price protection, but only when rates are rising as a result of increasing inflation.
https://www.pimco.com/en-us/resources/education/understanding-treasury-inflation-protected-securities

DODBX still leads, but it is now acting similar to others.
https://stockcharts.com/h-perf/ui?s=DODBX&compare=BALFX,FBALX,FMSDX,JABAX&id=p15525362102

@BaluBalu - I did but I was in before the huge run up and out in May 2021. There were others. Although I agreed with her "disrupter" thesis it was strictly a momentum trade on my part. I still think the disrupter thesis has merit but valuations are nuts.

I tried to look through website and prospectus but the strategy was unclear - some combo of long Treasuries with options overlay.
Looking at its chart, it does have positive correlation with 10-yr Treasury yields, but looking at some hi-lo values, friction/drag is awfully high. If sinks very rapidly but bounces slowly. Soon after inception, rates fell 21 bps (only) and it collapsed; but now rates are higher than at inception, and it is well under the inception value. Looks like a bad deal.
Values 10-yr Yield
51.25 1.575%
38.46 1.354%
42.31 1.655%
37.38 1.550%
40.97 1.725%
https://stockcharts.com/h-sc/ui?s=PFIX&p=D&yr=1&mn=0&dy=0&id=p71742655630

PFIX's hedge is working great MTD due to interest rate concerns, but ugly performer otherwise. If you believe that interest rates are going to go zoom through the roof, then it could be a nice find for 2022.
Simplify Interest Rate Hedge ETF (PFIX)
Year Month Return
2021 6 -15.30%
2021 7 -2.08%
2021 8 -1.94%
2021 9 2.28%
2021 10 -1.35%
2021 11 -1.50%
2021 12 -5.00%

Hi Catch,
Please don't get naked. I go to the gym and I've seen enough.....lol.....
The ARKG fund I've never heard of....I will look it up. I forgot you have so much in healthcare. Me? I'm about 11% or so. I guess I expected a bit of a smoother ride. I mean it's healthcare, no? Again, just wondering what you were thinking about things. Thanks again. This longneck is for you, Big Guy!
God bless
the Pudd

1/20/22 - Selloff continues https://stockcharts.com/h-perf/ui?s=$SPX&compare=$COMPQ,$INDU,$TRAN,IWM&id=p01658572358

See a response (4th reply) on the 5G C-band by "Bentley", a retired pilot, in a M* thread (unfortunately, his post alone cannot be cited).
https://community.morningstar.com/s/question/0D53o00005sqKJLCA2/aaii-sentiment-survey-11922

@derf
Our default core cash is FDRXX (Fido Govt Cash Reserves). The nominal yield is .01%. Only a safety exit to preserve a larger lose.
Normally, I would travel to gov't. bonds etf's; but not much is normal right now in many bond areas being used as a "flight to safety" area.

Hi Puddnhead,
Ya want me to get naked in front of everyone with my portfolio, eh? :)
A few notes: At this time, all of our market holdings are either T-IRA or Roth accounts, so any position changes do not involve taxation considerations. We generally do not hold more that 5 investments at any given time, with 10 being a maximum; as beyond this number tends to not have a meaningful impact (positive or negative) upon a portfolio. An EXCEPTION would be: if one wants 25% of a portfolio to be in health related; and can find 3-5 funds/etf's that don't have a lot of overlap; this would be okay.
Our house continues to favor health and technology. FSMEX, IMHO; is a fund that favors both of these areas. FSPHX, FHLC and similar funds are more broad based health funds. Although the ARK funds, ARKK in particular; has a lot of rocky performance and bad press at this time; the ARKG etf has become fairly inexpensive at this time and travels into another favorable long term area (IMHO) of medicine/health/tech. (genomics and related). Some of these companies will fail, but others will prosper and/or become the targets of M&A.
Generally, one can expect decent distributions (div's, cap gains) from the healthcare area. So, a bonus, eh?
AND YES, health care funds have taken a hit with much else, for 2022.
Now: We no longer have FSPHX, which was replaced several years ago with FHLC.
FHLC is 21% of the total portfolio
FSMEX is 15% of the total portfolio
You mentioned a poor year....2021....for health. I'm okay with the 2021 total returns shown in the below chart.
CHART of FSPHX, FSMEX and FHLC (Fido health etf) for 2021.
I've sure as heck forgotten something to jabber about, for this post.
Remain curious,
Catch

Note the comment by Sonai Desai in my recent Barron’s Roundtable post (Quotable Quotes.)
It’s second up from the bottom.
I’ve avoided owning TIPS (except for a few short duration ones) because they are misunderstood by many and I can’t get a good read on their risk / reward profile myself. Putting them into a mutual fund subject to inflows and outflows further clouds the issue. Think of it this way: Foremost, you are buying a Treasury bond. Secondly, you are getting a certain amount of inflation protection along with that bond.

@catch22 from revived post 2018.
" catch22 said:
As to the "cash" as a place to run to in the event of an equity melt. Well, if one is able to pull the evacuate equity soon enough, and choose not to go to U.S. bonds or notes, our current default core cash at Fidelity yields, 1.6%.
Just wondering what yield is lately.

If the fears of not transient inflation and higher interest rates are an environment that’s has SCHP off 3.13% YTD, what might happen if inflation were to diminish and rates were flat? Is the decline related to the portfolio duration of 7.70 and the price is reacting as any other bond fund to higher rates? Again,,,, how would a TIPS fund respond if rates were to go down? By comparison,,,IEF,,,,, a 7-10 year Treasury fund with a duration of 8.10 is off 2.61 YTD. I know that TIPS are currently expensive but I can’t figure out why they would be losing value now. Of course I know that 19 days is not meaningful but I feel stupid that I have a major position in something I clearly don’t understand at all. Any ideas? thanks in advance.

@MikeM - TMSRX was up .50% yesterday. Somewhere in that concoction there must be some exposure to the precious metals. That would help explain its slump throughout much of 2021 as well as the bump up yesterday when gold and silver were hot. (Miners +7%)

Added a couple bond funds, PTIAX and MWTRX and index AGG, to Rick's chart for comparison to the alts. CTFAX and TMSRX, 2 alt funds I own, are performing YTD the same as bonds. I guess no surprise.
I was actually looking at my alts and tracked bond funds this morning to see how they have compared return wise this year. As of this morning YTD, CTFAX was down -1.7%. TMSRX down -1.4%. Bond funds I track but don't own, AGG down -1.6%. PTIAX down -1.2%. MWTRX down -1.5%...
A few ultra short bond ETFs I do hold in my withdrawal bucket; MINT -0.2%, FLRN 0.0, JPST 0.0, FTSL +0.17. RPHYX, my biggest holding in this bucket, is +0.01%. Seems like these funds are doing fine through this volatile start to the year.
FWIW.

It's like the weather in Iceland; wait 20 minutes and it will get much worse.

Mark Twain, "If you don't like the weather in New England, wait just a few minutes."
But it applies to Chicago as well where we got up this morning with 7 degF.
Iceland? Nah! 45 degF today.

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I was locked out of @msf’s link on my ipad, but accessed it on smaller screen iphone.
“Leakages come from three sources: cash-outs when participants change jobs, hardship withdrawals, and the failure to repay loans. The government has attempted to discourage leakages by generally imposing a 10% penalty — in addition to regular income taxes — on withdrawals before age 591⁄2. “
Well, these additional taxes and penalties ought to really help with the (likely “maxed-out”) plan participant’s financial situation!
My point - irresponsible money management (including gambling) takes many different forms.

A presumption here is that the money borrowed is being repaid. There's also money permanently lost ("leaked") from 401(k)'s - loans not repaid, hardship withdrawals, and cashing out (when changing jobs).
Here's a 2022 Marketwatch story on four leakage studies, including a newly released one suggesting that leakage results in about a 30% reduction in plan balances. Add that to the loans that are repaid, and you've got a lot of money sloshing around. For who knows what purposes.
https://www.marketwatch.com/story/401-k-and-ira-leakages-may-be-more-severe-than-previously-believed-11641223378

At Noon (1/20)
DJI +1%
S&P +1.29%
NAS +1.59%
Oil $87.65 + .80%
Gold $1840 -$3.00
Gold Miners -.15%
ARKK +5%
10-Year Treasury yield 1.84% (vs 1.86% at open)
Head Fake?