Notice in May there was a 1 for 10 split in this ETF. In other words prices got so low instead of allowing it to go to zero they gave shareholders one stock for every 10 they held. So if you had 100 shares they gave you 10 of the new reverse split shares with a higher value or the ETF would have disappeared. This is the problem with owning a declining or even base building ETF like this. Long term holders of this ETF like others such as the double bear Silver ETF:ZSL has suffered the same fate with this type of price erosion. While the chart looks like nothing happened shareholders were devastated by this as reverse splits are one of the most bearish thing to occur.