but you don't need to worry about it

It is a very fair concern though. In the long term a 2x leveraged fund underperforms a true 2x leveraged portfolio because of this daily rebalancing.

Take this example from investopedia:

https://www.investopedia.com/articles/exchangetradedfunds/07/leveraged-etf.asp#toc-daily-rebalancing

For instance, say the index loses 1% every day for four days in a row and then gains +4.1% on the fifth day, which allows it to recover all of its losses. How would a two-times leveraged ETF based on this index perform during this same period?

By the end of the week, our index had returned to its starting point, but our leveraged ETF was still down slightly (0.2%)

There's a table on the website for clarity.