Because the price usually moves zig zag. In the procees, for a 2x etf, gain is always < loss.

renchong (人虫)
A extreme example
a stock price 10
a 2x ETF based on this stock,
one day price is up to 15, 50% gain, your 2x ETF 100% gain.
next day stock price drop to 10, 50% loss, 2x ETF 100% loss = 0
2009-8-27 -04:00
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