/biz/ - Business & Finance

>>56588086
Anon, the UPRO prospectus says that it returns 3x the daily return of the underlying minus fees and expenses of 0.92% annualized. It is very explicit about that 0.92%. If you think that is a lie then take some of the "millions" from your NVDA "profits" and buy a bag then sue them for damages. Otherwise accept the fact that you have argued falsly for 3 years. Wasted 3 years of your existence arguing something that you could have corrected yourself by looking at the prospectus for 5 minutes. 3 years versus 5 minutes
I'm gonna summarize it for you again. UPRO does not say that it will provide daily returns of a 3x leveraged sp500 minus any and all fees and costs whatsoever. It says it delivers 3x minus 0.92% annualized. Nowhere does it say it will return 3x minus all possible fees and costs sorry about your luck if interest rates rise. It says precisely what it will deliver and it's up to the fund manager to figure it out. They "figure it out" by adjusting the leverage slightly up or down as necessary to meet the stated objective. That's how this works. You are confused and I can see how that is possible since you really really want to believe that you've discovered some kind of gotcha but you haven't. You have misunderstood how the ETF works. The expenses affect the work the fund manager has to do to achieve the stated objective. The fees do not affect the objective itself which is 3x daily return minus 0.92% annualized. I don't know how to say it any simpler