how many people are buying these? It seems like the popularity of 3x funds has exploded over the past 2 years.
You would be surprised how many brand-new investors through their money in 3x levered ETFs and/or way out-of-the-money options and were right 3/4ths of time on accident. High school students were writing Hedge Fund managers asking for jobs as they did ridiculously well through blind luck.
Same here. Luckily, I pulled out of pretty much all of them in February when Putin invaded and I saw the writing on the wall.