I assume it would already be the choice if it existed but is there anything close to UBT in performance but with higher volume? Or some way of mimicking it such as X shares of UBT is roughly equivalent to Y shares of ABC and Z shares of DEF?
there is no better alternative to UBT as a 2x leveraged ETF. But if you can use account margin then just buy 2 times the USD amount of TLT, which is by far the most liquid with close to 9 million shares a day and 20b USD AUM.
In general terms, if you can use account margin that’s always better than buying leveraged ETF. Due to the way they are constructed you are in risk of lagging in performance.