TSC Ratings provides exclusive stock, ETF and mutual fund ratings and commentary based on award-winning, proprietary tools. Its "safety first" approach to investing aims to reduce risk while seeking solid outperformance on a total return basis.This year's stock market rebound has renewed investor confidence, but exchange-traded funds that are bullish on equities have a long way to go to make up the past year's losses. The S&P 500 index has advanced 10% in the past month, erasing a third of its decline in the past year. Even with double-digit returns, leveraged ETFs that bet on rising stocks have recouped only a fraction of their losses since May 2008. Among the 50 leverage funds that are bullish, 20 have hit the market in the past year. The remaining 30 have lost 63%, on average, during that time.