Well does today seems to be a pretty clear indication then? With these things as you note, really hard to time. I reckon accumulating at expensive points and deweighting on the down. ASX could easily drop another 10%, 15%? Or not.
I noticed some people think the more leverage means the ETF must be better - I don't necessarily agree on that. Definitely more risk, but also more costs associated with the ETF under the hood (so you get 'slippage' in there). BBOZ has that, but over time I have not seen it being too significant.
One thing also people are not discussing much is that BBOZ can be a good hedge against Beta. I have a bunch of equities that are long, and the BBOZ is a nice short to hedge that and focus more on the Alpha. So take today for example, so far the ASX200 is -2%, most of my stocks are down but by less than that, so with the BBOZ you can make money on a down day. Conversely, it drags me back on the up days though.
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