[kypro]

Depends. If you're 3x leveraging tech during a dotcom-bubble-like correction you're basically screwed. You'll likely lose 99% of your investment.

They also tend to underperform in volatile markets that trend sideways when you factor in fees and slippage.

Really they only do well in market environments similar to that of the last decade which is probably why so many people now believe leveraged ETFs to be an obvious strategy.

If you find a good leveraged ETF it might work out over the short-term. It's honestly not the worst investment you can make, especially if you're young and willing to lose 90%+ in a worst case scenario. But it's not a silver bullet – and you shouldn't expect to find one in a market as efficient as the US stock market.

Just remember even if you make 500% returns over 10 years if you then lose 90% of that you're still down on the decade. Just last year TQQQ lost 70% and only recovered because of the strong tech recovery – but you can see how this strategy could backfire in less ideal markets.