IWM performance this year almost completely tied to SMCI - which it doesn't have anymore. It's a different index now than it was last week. Lost its's star.  Not me saying that - it's the numbers.

Not sure about the leveraged play. Definitely has options. I'm guessing there has to be an ETF where they buy / sell the options for you on MDY, for a small fee (like every other leveraged product). Too easy not to offer, I would think.