Stat of the Day: Leveraged ETFs make up 1% of total industry assets but 33% of the new launches. There's land rush esp in the 2x stock arena, where you can charge 1% fees, so all you need it for one to catch fire and it more than makes up for the duds. This is partially due to the Vanguard Effect which has driven fees down to almost nothing core asset classes. Degen Traders rare gp of investors who will still pay up.(Eric Balchunas)