---
title: "Why can't you hold leveraged ETFs (2/3x long/short) for the long term?"
type: "Topics"
locale: "zh-CN"
url: "https://longbridge.com/zh-CN/topics/36716933.md"
description: "No more words, just post the chart$Defiance Daily Target 2X Long ORCL ETF(ORCX.US) I traded it twice but didn't make much money. When I reviewed it, wow, it dropped about 69% after I sold. Such a drop is almost impossible to recover from. If you hold the underlying stock, you can keep buying to average down and wait for a rebound to close the position. But leveraged ETFs? Forget about it. Note that this is even Oracle$Oracle(ORCL.US) ..."
datetime: "2025-11-25T15:26:46.000Z"
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author: "[♾️](https://longbridge.com/zh-CN/profiles/15639673.md)"
---

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# Why can't you hold leveraged ETFs (2/3x long/short) for the long term?

Nothing to say, just post the picture$Defiance Daily Target 2X Long ORCL ETF(ORCX.US) I've done it twice and didn't make much money. When I reviewed it later, wow, it dropped about 69% after I sold. Such a drop is almost impossible to recover from.

If you hold the underlying stock, you can keep buying endlessly to try to lower your cost and recover to break even. But with leveraged ETFs, forget about it. Note, this is even Oracle, a hot AI giant stock$Oracle(ORCL.US). Other small-cap ETFs would only be worse when they drop.

Leveraged ETFs only have excess returns in one-way markets. But considering the leverage decay, once you get the timing wrong, it's extremely hard to recover. Even if you're very confident, it's best to hold for just a day or trade intraday—that's the only feasible method.

### 相关股票

- [Defiance Daily Target 2X Long ORCL ETF (ORCX.US)](https://longbridge.com/zh-CN/quote/ORCX.US.md)
- [Oracle (ORCL.US)](https://longbridge.com/zh-CN/quote/ORCL.US.md)

## 评论 (28)

- **大a韭菜勇闯美股 · 2025-11-28T01:42:19.000Z**: Play the short-term game, like buying TQQQ in May and selling it around August or September
- **李伟666 · 2025-11-27T08:24:11.000Z**: I saw a review before, the returns of TQQQ are all higher than QQQ in all years, how to explain that? You have a long-term tracking, you can compare it yourself for a year.
  - **♾️** (2025-11-27T09:14:53.000Z): You're mistaken, qqq is greater than tqqq
  - **八寶鴨99.9** (2025-11-27T17:07:15.000Z): I've also seen this post, except for certain time points, tq outperformed 3q
- **不要频繁浇花 · 2025-11-27T06:16:33.000Z**: I won't touch leveraged ETFs again unless there's another situation like April 7th
- **Vince1024 · 2025-11-26T14:10:57.000Z**: Indeed, the double hidden volatility is around 10 points.
- **建建哥 · 2025-11-26T12:28:49.000Z**: I've always had a question: is this wear and tear calculated by day, or is it the stock price fluctuation at every moment
  - ***烟火声*** (2025-11-27T04:58:02.000Z): Day
- **Chumchinyeung · 2025-11-25T20:17:18.000Z · 👍 3**: I don't agree. Buying some stocks at low positions, such as NVIDIA and TSMC app, and holding them for a few months to retest shows that leveraged returns are greater than those of the underlying stocks. Buying at low positions and holding for a few months is fine.
  - **Chumchinyeung** (2025-11-25T20:20:48.000Z): The added value brought by leverage can completely offset the loss
  - **♾️** (2025-11-25T23:13:48.000Z): LOL You've picked stocks with a one-sided trend, of course you can. Try it in a volatile market?
  - **Chumchinyeung** (2025-11-26T01:07:12.000Z): So why must we buy during volatile markets? The original intention was to position at low levels for greater profits. Holding for a few months during volatility and then selling is fine, and this has 
- **大湾仔 · 2025-11-25T19:54:34.000Z · 👍 1**: Agreed, leveraged ETF compensation + long-term holding will eventually go bankrupt. These are hedging tools for scalp trading.
- **华语歌手 · 2025-11-25T15:38:33.000Z**: Leveraged ETFs have high attrition and should not be held long-term
- **大力哥 · 2025-11-25T15:37:40.000Z · 👍 1**: Isn't it enough to have unlimited bullet investing?
  - **♾️** (2025-11-25T15:39:08.000Z): You probably don't know what leverage wear is
  - **大力哥** (2025-11-25T15:55:16.000Z): Not afraid of wear and tear when it's rising😂😂
  - **♾️** (2025-11-25T15:56:47.000Z): Suggest improving reading skills lol
- **超超超愿意 · 2025-11-25T15:28:37.000Z**: Yes, the wear and tear is super severe
  - **♾️** (2025-11-25T15:31:28.000Z): Won't touch it again
  - **重生之遇强则强** (2025-11-25T15:38:52.000Z): It's useless to say it, you'll only remember when you have to pay the tuition yourself 🤣
  - **♾️** (2025-11-25T15:39:48.000Z): Accidentally opened it during the review, feeling scared afterwards