Direxion files for new products a week after AXS Investments Planned ETFs offer bullish and bearish exposure to Tesla, Meta Paywall https://www.bloomberg.com/news/arti...aged-etfs-betting-on-single-stocks-breaks-out
This is basically is an end-run around shorting and leveraged estrictions in accounts such as IRAs. And could be a big money maker for the ETF Sponsor, since they don't have to pay a fee for using an index. If these types of ETF become widespread I may change my retirements accounts to do active trading instead of index funds.
Especially for the short ETF, that seems to be the case. Only reason one should use it is if they want to short a growth ETF in a retirement account which cannot take short positions. Seems like a risky strategy for a retirement account.