I have done some basic research on levered ETFs and cant understand them completely
How do you justify the existence of Levered ETFs when margin accounts are available? E.g. If I want 3X SPY returns, I can just deposit 1X in a margin account and lever the position to get 3X SPY.
I can justify the existence of these ETFs when the returns are 3X but the volatility is <3X, which is not always the case.
Could you guys give me a hand? ty.