I currently hold two mid cap blend funds UMPIX and LZMOX. The UMPIX Profunds Ultra Mid Cap as of 10/31/07 had 43% of its assets in Mid Cap 400 futures. Now I know this is very dated now but was that a risky or a smart play. From what I can see it looks like this was or is a hedging strategy which would protect the fund from downside risk to the broader market. In hind sight it diddnt seem to have worked that well since its my biggest loser. Also going forward I really just want to dump these two mid cap blend funds and cut my losses. Does anyone see any hope for mid caps in the next 3-6 months?