Q: What do you think of this fund? Good. bad?

Q: In an answer to Bruce on Horizons enhanced ETF's your reply was " We are not fans of leveraged ETF's " ...... As these are nothing like the multiple times leverage products that are generally for day traders I wonder why ? According to their website their leverage is achieved through " borrowing " . As the market ultimately goes up in the long run I don't understand this.

Please explain it to me using the following fictional example ..... The year is 2008 and an ETF like this exists. It is purchased and suffers the crash of the banking system the following year in 2009.... It continues to be held and years later it suffers the covid crash ..... The year is now 2023 and the market is higher than the highs of 2008 and the recovery after the Covid crash...... Am I wrong in assuming the ETF price of one of these enhanced ETF's will be 1.25X the current value of the market and be considerably ahead of whatever my purchase price was in 2008 ? Please explain what is wrong with my reasoning ? ......{ I know there is something wrong with it. I just don't know what it is } ......

Q: These covered call, leveraged ETFs seem to be very popular right now. Fees seem to be high in general on these funds, 2-2.5%. Horizon just introduced a suite of ETFs including the above 2 which I am interested in. They are funds of their own funds and usually products like this waive the management fee of the underlying fund. Do you know if this is the case for these 2?
I’m hoping Horizons large scale will allow them to keep their fees under control.