I've often heard/read the conventional wisdom that leveraged ETFs (especially 3x leveraged) are only good for short term trading; that costs and variances and what-not will make them losers over the long term. I've seen absolutely no evidence that this is actually true. To test it, I took the last 10 years of daily data for SPY (1x) and compared it to the same time span for UPRO (3x). If you bought SPY 10 years ago and held it to this day, you would have made a respectable 344.7% gain. However, doing the same with UPRO would have yielded a whopping 2,663.7% gain. That's more than 7x the SPY. And this is without compounding! So, if anyone feels that leveraged ETFs are in fact not good for the long term, please post your reasoning. It's going to take some powerful arguments to convince me!