There's always the option to borrow cash 40% 1x, 20% 2x, 40% cash is no different to 80/20 stock/cash. Shifting that to being 40% 2x, 60% cash is the exact same (near-as) :) https://www.portfoliovisualizer.com/backtest-portfolio?s=y&timePeriod=4&startYear=1985&firstMonth=1&endYear=2016&lastMonth=12&endDate=08%2F19%2F2016&initialAmount=10000&annualOperation=0&annualAdjustment=0&inflationAdjusted=true&annualPercentage=0.0&frequency=4&rebalanceType=1&showYield=false&reinvestDividends=true&symbol1=SPY&allocation1_1=40&allocation1_3=80&symbol2=SSO&allocation2_1=20&allocation2_2=40&symbol3=SHY&allocation3_1=40&allocation3_2=60&allocation3_3=20 Comparison