TQQQ Leverage Decay: Why 3x ETFs Underperform During Drawdowns
QQQ 1-year return: +27.6% (no leverage, 0.42% dividend yield)QQQM equivalent return: +27.7% (low-cost tracking at $297.70)Leverage decay impact: Loses 0.5–2% daily during high-volatility periods, compounding to 20%+ underperformance over 3-year drawdown cycles52-week position: QQQ at 86....