Closest way to mimic a QQQ put without options or leverage?

I generally buy QQQ puts to hedge my tech portfolio, 8-12 months out usually which works very well.

Hypothetical question: For whatever reason, options/leveraged short ETFs are not in consideration. What would be the next best mimic to a QQQ put?

I understand the daily reset on even a 1x Inverse ETF like PSQ since you're buying into a more complex derivative structure (my understanding is swaps). I am not sure about the daily reset bit as compared theta decay on an 8–12-month QQQ put.

What are preferred ways to hedge. Any simpler alternatives for directly hedging NASDAQ/QQQ exposure?