TQQQ is a leveraged ETF targeting three times the Nasdaq-100's daily return. The underlying index contains roughly 100 large non-financial companies. Because the target resets daily, returns over longer periods are not simply three times the index's cumulative return.
History and development
TQQQ began on February 9, 2010, targeting three times the Nasdaq-100's daily performance. Its daily reset distinguishes it from an ordinary index ETF. Compounding over multiple days does not generally produce three times the index's return over the entire period.
References: ProShares: TQQQ
Comparing charts on this board
Place TQQQ beside the Nasdaq-100 to compare underlying direction with amplified daily exposure. Its three-times objective applies daily; multi-day paths also reveal compounding and the sequence of gains and losses.
SOXL adds a comparison between leveraged large non-financial and semiconductor themes. Keep the underlying indices nearby to separate market exposure from leverage mechanics.
Related charts: NASDAQ 100 · SOXL · SOX
Official references: ProShares: TQQQ