What is the risk/downside to leveraging a market ETF 10%

Hi, I am wondering what the risk could be to leveraging a market tracking ETF or index fund 10%. I would be looking for something that tracks you the entire market.

It seems extremely unlikely that something like the NASDAQ would drop 90% and I lose all my money. So what would the risks be with such a low leverage? Is it just interest rates and fees?

Edit: To be clear I’m talking about leveraging at 1.1x not 10x