Enter each day's benchmark return. The default shows the classic +10% then -10% case.
3x ETF after 2 day(s)
$91.00
Benchmark $99.00
Key takeaway
The benchmark is down 1.00%, but the 3x daily ETF is down 9.00% — because each day resets and compounds from the new value, not from the starting price.
Benchmark total return
3x ETF total return
Naive "3× benchmark"
Why the long-term result isn't simply leverage × benchmark return
| Day | Benchmark daily | Benchmark value | Fund daily | 3x ETF value |
|---|---|---|---|---|
| 1 | +10.00% | $110.00 | +30.00% | $130.00 |
| 2 | -10.00% | $99.00 | -30.00% | $91.00 |