In general, investments carrying more risk and volatility provide higher expected returns than those with lower risk and volatility. A 1-year T-note will provide a guaranteed return of 2.6%, slightly higher than inflation. Meanwhile, a share of a S&P 500 ETF will provide about 7.1% return, though with a standard deviation of close to 20 percentage points.
Given a long enough time horizon, the ETF will always beat out the T-note. But are there other investments that carry higher expected values than stocks or stock-based ETFs, presumably with higher risk?
I'm not interested in taking out loans, buying on margin, or buying high-fee leveraged stocks/ETFs.