> I would claim it's actually less risky because it's more diversified
Yes, I agree (but then again, you could just replicate the index in your stock portfolio...)
> owning 100k in stocks would also get you dividends that futures won't.
Sure, and that's why the futures will generally appreciate faster than the stocks will - it makes up for the fact that you don't get dividends. Similarly, the fact that you only need to use a small part of your capital to hold futures means that you can earn interest on the rest, which provides a pull in the opposite direction, slowing down the rate of appreciation.
Yes, I agree (but then again, you could just replicate the index in your stock portfolio...)
> owning 100k in stocks would also get you dividends that futures won't.
Sure, and that's why the futures will generally appreciate faster than the stocks will - it makes up for the fact that you don't get dividends. Similarly, the fact that you only need to use a small part of your capital to hold futures means that you can earn interest on the rest, which provides a pull in the opposite direction, slowing down the rate of appreciation.