Question about TQQQ
I wanted to make sure I understand exactly what this 3x leveraged fund performs.
I have heard about "price decay", and am wondering - if I look at Seeking Alpha's momentum performance - that site has the clearest presentation of the data - over a few months, one year, five year, etc., does that truly indicate what the returns are? In other words, if someone invests $1000 and it says 100% over five years, does that mean $1000 became $2000 or did it become something else because of the decay? This is very unclear to me. I also ask because I have read something about daily resets, and am wondering if that basically makes the performance deviate from what is reported. Thank you.