In English this means you would consider owning this fund if you thought the Japanese stock market was at a top and ready to start dropping or if you just wanted to hedge your existing Japanese "long" positions against a market decline. In addition, since the fund is targeting a 2-1 percentage return, this means they are leveraging the portfolio. We would suggest that this is not a fund for novices but rather experienced investors who have a strong feeling about Japanese equities.
ProFunds has earned a reputation for being innovative and in particular designing funds for the "active" investor. ProFunds, unlike most mutual fund families, offers more lenient switching flexibilty between their more than fifty mutual funds. This new "short" fund is a natural offset to their existing Japanese "long" fund, the ProFund Ultra Japan Fund. According to Morningstar, this past year the Ultra Japan Fund was the top performer among all U.S. funds with a gain of over 115%.
As usual, we recommend that investors consult with their Financial Advisors before investing in any particular mutual fund or investment strategy.