Dozens of "inverse" ETFs move in the opposite direction of their underlying index or basket of securities.

FORBES: ETFs For Turbulent Times

The ETF only represents the underlying security or index it is designed to mimic.

FORBES: A Canadian Closed-End Gold And Silver Fund With A Tax Break

Instead they return an amount based upon the performance of an underlying equity instrument, be it an index, a hedge fund or even a single stock.

FORBES: Another Option