Yes!
Weight Loss:
Lancet study: adults with obesity who wore weighted vests 8 hours/day lost an additional 3 lbs of fat over 3 weeks compared to those carrying less weight, while maintaining muscle mass.
Sources:
https://www.onepeloton.com/blog/walking-with-weighted-vest Peloton
Wake Forest RCT: weighted vest walkers lost four more pounds of fat, gained more muscle, and improved balance more than non-vest walkers during a weight-loss intervention.
Sources:
https://www.cspi.org/article/should-you-wear-weighted-vest-build-muscle-and-bone Cspi
2020 study: a 10% body-weight vest worn for 3 weeks caused fat loss with no muscle loss.
https://hyperwear.com/blogs/blog/the-most-effective-weighted-vest-load-for-health-science-vs-micro-load
Bone Density:
Snow et al. (PubMed/peer-reviewed primary source): 18 postmenopausal women, 9 of whom did weighted vest plus jumping exercise 3x/week for 32 weeks a year over 5 years intervention group showed better hip BMD outcomes than controls.
Sources:
https://pubmed.ncbi.nlm.nih.gov/10995045/
https://www.osteoboost.com/blog/the-science-of-weighted-vests-for-low-bone-density
Counter-evidence: a 1998 study found improvements in strength and leg muscle mass, but no significant change in femoral neck bone mass; two meta-analyses found walking alone is not enough to preserve bone density in postmenopausal women.
Sources:
https://doclyssfitness.com/the-science-behind-weighted-vests-women-and-bone-health-what-the-research-actually-shows/
Direct comparison study found no difference in bone remodeling between women who walked with a vest 3x/week and those who walked without one.
Sources:
https://medium.com/wise-well/are-weighted-vests-the-perimenopause-magic-bullet-we-want-them-to-be-e86226d5ae61
Wake Forest's ongoing INVEST trial is testing whether weighted vests worn up to 10 hours/day can offset bone loss that accompanies weight loss in older adults.
Sources:
https://joleneedgar.substack.com/p/can-a-weighted-vest-halt-bone-loss