Shum, Pauline M.; Kang, Jisok - In: Managerial Finance 39 (2013) April, pp. 476-508
Purpose – Leveraged and inverse ETFs (hereafter leveraged ETFs) have received much press coverage of late due to issues with their performance. Managers and the media have focused investors' attention on the impact of compounding, when the funds are held for more than one day. The aim of this...