RE: RE: long termI've been in and out of a few double ETFs in the past few months and here's what I learned:
1. Be ready for huge swings. HEU swings wildly but not as wild as HOU and HGU (to name but two). You can make or lose lots of $$$ quickly. I've been very lucky with HEU and HFU (got both at around 3$) and with HQU too, but very mixed results with HGU, HOU, and HNU.
2. Don't hold it for long, its meant for day or weekly trading, nothing long term.
3. Be ready to accept that it's not quite 2x because of re-balancing.
4. Stock will never be at zero because they do splits and reverse-splits...
5. For long term, play 1x ETFs
6. If you seek high beta, looks at individual stocks, potential for more than 2x market. TDG, PD.UN, TCK.B are some that come to mind.
One word of advise...5$ may not seem like much but that's 90% higher than the March low price. Don't judge a 2x ETF by its price.
Cheers.