Julian Finney/GettyIt has been a tough year for investors of all kinds. Liquid alternatives funds, billed as hedge funds for Main Street, are no exception. The funds combine hedge fund investment techniques — like using derivatives, leverage, and short positions — with a mutual fund structure. Most mutual funds, by comparison, are pretty vanilla and use more traditional investment strategies. The funds enjoyed bumper growth, doubling in assets under management from 2010 to 2014, according to The Wall Street Journal.