GUSH and JNUG, 2X Leverage ETFs, halal or not?

GUSH and JNUG, They are X2 Leverage ETFs, are they halal?
Jazak Allah Khairen for helping.

Anyone can help please? Jazak Allah khairen

Assalaamu alaykum,

Unlike traditional ETFs, leveraged ETFs use derivatives in order to multiply the daily return of the underlying index they are tracking. Leveraged ETFs will buy futures contracts to gain two-times or three-times the daily move of the underlying index. It is this use of derivatives which adds risks to leveraged ETFs that are not present in more traditional ETFs (which just hold individual stocks). Just like traditional ETFs, leveraged ETFs can be bought and sold on the stock exchange each day. You can trade leveraged ETFs like traditional ETFs or any stock.

As such, if they are using such underlying derivatives, it is not Shariah compliant.

Allah knows best

Wa alaikum assalam brother, Ma shaa Allah, that’s great explanation, may Allah bless you.
Because it was very volatile in the last few weeks, I wanted to make advantage of that, but if it’s not shariah complaint, I won’t.
Jazak Allah khairen for saving me from doing haram.