The Rational Reminder Podcast · Thursday, October 22, 2026
Marco Sammon and Chris Murray noted that despite structural headwinds like fees and volatility drag, dollar-weighted investor outcomes in leveraged equity index ETFs actually generated an extra $50 billion over the underlier during their sample period, driven by favorable market timing and strong recent underlying performance.
“Investors got an additional $50 billion over our sample by being in the levered index products versus being in the underline.”
“They generated about 13 billion for themselves versus 12 billion if they had put the same dollars in the underlying at the same point in time.”