This right here. This is exactly why hedging options exist. If shorting isn't available, then you can make due with options short-call + long-put is roughly equivalent to a short stock.
In any case, the point of a S&P500 fund is to get exposure to ALL companies, roughly in order of their size. Facebook is a big company, so any fund should have a chunk of it.
In any case, the point of a S&P500 fund is to get exposure to ALL companies, roughly in order of their size. Facebook is a big company, so any fund should have a chunk of it.