Commissions do not affect our editors' opinions or evaluations. Leverage amplifies both investment returns and risk. But with greater risk comes greater rewards, at least when times are good.

As their name implies, triple-levered ETFs are highly leveraged investment vehicles that are designed to deliver 3x the daily returns of their underlying indices. Over long holding periods ...

The compounding of short-term returns results in performance that does not correspond to those of investing in the index with external leverage. For example, a fund attempting to achieve 2 times ...

As a result, the fund is now using an options strategy that’s unconventional for single-stock ETFs to produce levered returns. On several recent days, the fund has failed to deliver on its goal ...