I think I already wrote what I mean by pseudo ratios, underlying stock gaining 1% does not automatically mean, written etp is getting 2% as drawn in the tables.
Morgan Stanley MMF is at 1.04% at this moment 22:41 GMT+1, plus your overnight fee of 1% should mean 2.04. plus the annual management fee 0.75% this will cost average buy and hold investor 2.8% annual. It is not cheap for my taste, but you might be right may be its cheap for some people.
even if I assume this 0.00479% is correct, may be you get loans consistently a lot cheaper than interbank money market funds, 0.00479% daily will account into something like 1.74735%(actually more, but too lazy to deal with compounding interest at the mo) annual + your management fee of 0.75% thats 2.5% annual, still not cheap for my taste.
So… in my opinion this is not a good or cheap tool for mid/long term investment, it can be considered acceptable if someone knows that a particular instument will make real gains in a short time period.
and… this tool is lucrative enough “leverage shares” to do self shilling in forums 
peace out.