$10,000 in a 3x leveraged S&P 500 ETF (UPRO) at launch in 2009 would be worth about $1.3 million today, more than 10x a regular S&P 500 ETF. So are leveraged ETFs a smart long-term tool or a disaster waiting to happen?

In this video, Ben Felix, Chief Investment Officer at PWL Capital, gives you a framework for deciding whether leverage makes sense for you, and whether leveraged ETFs are a good way to get it.