Is buying Monero traceable?

Could you elaborate on the traceability of Monero transactions? I understand Monero is designed for privacy and anonymity, but are there any instances where transactions can still be traced back to the sender or receiver? Are there any inherent risks associated with Monero's privacy features that investors should be aware of? Additionally, how does Monero's privacy compare to other privacy-focused cryptocurrencies like Zcash or Dash?