"This is some high-powered weaponry that could be used to help people's portfolios, but also could really impair people's portfolios," said Christian Magoon, chief executive officer of Amplify ETFs. The moment is striking because it comes even as money has flowed out of leveraged ETFs this year — though not before years of steady issuance expanded the universe of strategies available to sophisticated traders. Unlike conventional ETFs, which are typically used as long-term allocation tools, leveraged ETFs are designed for short-term trades that amplify an index's daily moves. That renewed attention is being fueled by exactly the kind of markets leveraged ETFs thrive in. Violent swings in artificial-intelligence stocks, semiconductor shares and other momentum trades have driven investors back toward products designed to amplify daily returns.