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They tend to be reasonably/logicaly close, to the index. As Sig noted it varies. In 2019 TQQQ tended to u outperform better than 3 times QQQ. And today, PSQ did about -7.50% + QQQ about--8%-not exact numbers. PSQ is much more forgiving than a 3X ETF.
What goofs a 3x ETF , is a year when say...