The U.S. bull market will turn 10 on Mar 9 with more room to run. The S&P 500 Index has quadrupled, rallying more than 300%, from the bear-market bottom of 676.53 hit on Mar 9, 2009 — representing the longest bull market in history. However, it is not the strongest as the stock prices in the 1990s bull market increased 417% at the peak, more than 100 percentage points above the current bull market.

While record stock buybacks and all-time high dividends have been the key catalysts, stronger corporate earnings and tax reforms have boosted the longevity of the bulls lately. The trend is likely to continue for another year with major bourses showing strength on hopes of a trade deal, dovish Fed and improving Chinese economic health. However, global slowdown concerns and geopolitical tensions continue to block the roads of the bull.

Given this, investors should bet on the best performing leveraged ETFs of the 10-year bull market. Leveraged funds provide multiple exposure (i.e. 2x or 3x) to the daily performance of the underlying index by employing various investment strategies such as swaps, futures contracts, and other derivative instruments. These have led to abnormal returns in the past decade.

Below, we have highlighted 10 ETFs that could see more gains if the market continues to trend upward.

Direxion Daily Technology Bull 3x Shares (TECL - Free Report) – Up 4352%

This ETF targets the technology sector with three times (3x) exposure to the Technology Select Sector Index. It has amassed about $647.7 million in its asset base and charges 95 bps in fees per year. Volume is good as it exchanges around 347,000 shares a day on average.

ProShares Ultra QQQ (QLD - Free Report) – Up 2686%

This product offers twice (2x) the return of the daily performance of the Nasdaq-100 Index, charging 0.95% in annual fees. The fund has AUM of $1.8 billion and trades in solid average daily volume of 1.9 million shares.

Direxion Daily S&P 500 Bull 3x Shares (SPXL - Free Report) – Up 2617%

This fund creates a triple leveraged long position in the S&P 500 Index while charging 95 bps in fees a year. It has $1 billion in AUM and trades in volume of 5.7 million shares on average.

ProShares Ultra Consumer Services (UCC - Free Report) – Up 2394%

This product provides two times exposure to the daily performance of the Dow Jones U.S. Consumer Services Index. It has been able to manage $21.3 million in its asset base and trades in a paltry volume of around 2,000 shares per day on average. Expense ratio is 0.95%.

ProShares Ultra Technology (ROM - Free Report) – Up 2004%

This fund seeks two times exposure to the Dow Jones U.S. Technology Index, charging 95 bps in fees. It has amassed $295.7 million in its asset base and trades in a paltry volume of around 91,000 shares per day on average.

Direxion Daily Small Cap Bull 3X Shares (TNA - Free Report) – Up 2687%

This ETF provides three times the return of the daily performance of the Russell 2000 Index and exchanges around 3.9 million shares in hand on average per day. The fund has AUM of $865.4 million and charges 95 bps in fees and expenses.

ProShares Ultra Industrials (UXI - Free Report) – Up 1696%

This fund seeks two times the daily performance of the Dow Jones U.S. Industrials Index. It is unpopular and illiquid with AUM of $20.1 million and average daily volume of nearly 2,000 shares. The fund charges 95 bps in annual fees

Direxion Daily Financial Bull 3x Shares (FAS - Free Report) – Up 1684%

This ETF provides three times exposure to the performance of the Russell 1000 Financial Services Index. The fund has amassed nearly $1.5 billion in its asset base and charges 95 bps in annual fees. It trades in average daily volume of nearly 1.7 million shares.

ProShares Ultra Semiconductors (USD - Free Report) – Up 1539%

This product seeks two times the daily performance of the Dow Jones U.S. Semiconductors Index, charging investors 95 bps in annual fees. It has accumulated $53.7 million in its asset base while trading in volume of 31,000 shares a day on average.

Direxion Daily Mid Cap Bull 3x Shares (MIDU  - Free Report) – Up 1536%

This ETF provides three times the return of the daily performance of the S&P MidCap 400 Index and exchanges around 49,000 shares in hand on average per day. The fund has AUM of $59.3 million and charges 95 bps in fees and expenses.

Bottom Line

As a caveat, investors should note that these products are extremely volatile and suitable only for short-term traders. Additionally, the daily rebalancing — when combined with leverage — may make these products deviate significantly from the expected long-term performance figures.

Still, for ETF investors who are bullish on the equity for the near term, any of these products can be an interesting choice for those with high-risk tolerance and a belief that the “trend is the friend” in this corner of the investing world.