ProShares Trust Ultra VIX Short Term Futures ETF (UVXY)

[CowBoE]

You might have read it the opposite way.

I meant "short" and not "long".
If you go long for 2 years, yes, it's likely to end up being something horrible like $500.

For short term, UVXY can move in either direction, but in mid- to long-term, the nature of VIX and UVXY contango only sinks UVXY.

UVXY has been sinking forever since inception with short lived periodic spikes.

It has fallen something like 99.3% since inception,
and it reverse split and then continue the fall.

So it makes absolutely NO sense to go naked long in UVXY over extended period. This is like pouring money into broken bucket that is designed to leak.