Leveraged ETF Daily Path Calculator
See how daily reset and return order can change a leveraged ETF's multi-day result.
See how daily reset and return order can change a leveraged ETF's multi-day result.
A daily leveraged product applies its objective to each session, not to the entire holding period at once. With a 3x multiple, an index gain of 10% followed by a loss of 10% changes 100 to 110 and then to 99. A simplified daily 3x path changes 100 to 130 and then to 91. The index lost 1%, but the leveraged path lost 9%, not 3%.
Real products have expenses, financing, derivatives, cash balances, taxes, spreads, possible tracking differences, and exposure limits. A fund also may not achieve its stated daily objective. The calculator does not predict returns and should not be used as a quote or order ticket.
Read the daily-reset guide, overnight-risk guide, and the current prospectus for the exact product.
Terms, eligibility, prices, and product features can change. The linked provider or regulator document controls.
Try two sequences with the same starting value. A steady sequence such as 2, 2, 2 tends to compound differently from an alternating sequence such as 10, -10, 10, -10. Next reverse the alternating sequence. The arithmetic shows why the order and size of daily moves matter even before fund expenses, financing costs, spreads, taxes, and imperfect tracking are considered.
A daily target is not a promise that a fund will deliver the stated multiple over a week, month, or year. The calculator applies a constant multiple to each entered daily index return and compounds the result. It does not forecast prices, model intraday rebalancing, or enforce a fund's actual investment limits. Use current issuer documents to confirm the objective and risks of a specific product.