SMHB - mREITs Are Underperforming As Interest Rates Decline. Why?

Prospects for the 2X Leveraged mREIT ETNs

In the category of “be careful what you wish for”, my original premise for investing in 2X Leveraged mREIT ETNs was that interest rates would be lower than most market participants were predicting at that time. That has turned out to be the case. However, 2X Leveraged mREIT ETNs have not outperformed as much as could have been expected.

In my first Seeking Alpha article published on June 21, 2013, Federal Reserve Actually Propping Up Interest Rates: What This Means For mREITs, I set forth a proposition

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