Levered ETFs underperformed due to compounding/volatility (two-thirds) and covariance of leverage deviations with index returns (one-third) in 2022-2023.
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A Levered ETF Anomaly Explained
Levered ETFs underperformed due to compounding/volatility (two-thirds) and covariance of leverage deviations with index returns (one-third) in 2022-2023.