seems to make sense, but there could be a more suitable/subtle term (i.e more euphemisms) as the key word for these funds seems to be 'implicit' :

Unlike borrowing money to buy a house, leveraged index funds generally do not borrow but rather invest in financial instruments which have implicit leverage, such as futures contracts, or explicit leverage, such as swap contracts. Like a mortgage, however, these financial instruments can be purchased for a fraction of the market exposure they provide. The following section outlines the unique aspects of expected returns for bull funds and bear funds.