List of all the Leveraged 3x ETFs
3x leveraged ETFs target three times the daily move of an index or a single stock. To get there they hold a stack of swaps and futures and reset that exposure at the close every day. That daily reset is the whole reason these funds behave the way they do, and it is why almost every issuer files them as short-term trading products rather than something you buy and forget. The table below covers both 3x long funds and 3x inverse (-3x) funds.
Key features of 3x leveraged ETFs:
- Amplified both ways: a 1% move in the underlying becomes about 3% in the ETF, up or down.
- Daily reset: the leverage resets every day, so over longer holds returns compound and drift from 3x the index.
- Volatility: swings are extreme in both directions, so position sizing matters.
- Short holding periods: the daily reset and decay make these best for very short-term positions.
The table lists every 3x leveraged ETF we track, with its leverage ratio, underlying asset, AUM, expense ratio, and fund family.
Note: For full dataset, please visit our main table. This page shows a pre-filtered view of 3x leveraged ETFs only.
Most Popular 3x ETFs
| ETF | Tracks (3x daily) | Asset class |
|---|---|---|
| TQQQ | Nasdaq-100 (long) | US large-cap tech |
| SPXL | S&P 500 (long) | US large-cap |
| SOXL | Semiconductor index (long) | US chip stocks |
| SOXS | Semiconductor index (inverse) | Short US chip stocks |
| SQQQ | Nasdaq-100 (inverse) | Short US tech |
| TNA | Russell 2000 (long) | US small-cap |
Live AUM, expense ratios and inception dates for each of these sit in the table above. TQQQ is by far the largest of the group and the most heavily traded leveraged ETF in the US.
Notice these all track an index or a sector basket. You will not really find a 3x ETF on a single stock: US issuers cap single-stock leveraged funds at 2x (like NVDL or TSLL), so the most leverage you can get on one name in an ETF wrapper is double, not triple.
Where a 3x ETF fits, and what to watch
| If you want to… | A 3x ETF gives you… | But watch… |
|---|---|---|
| Play a sharp short-term move | Triple the daily exposure in one ticker, no margin account | Overnight gaps move against you three times as hard |
| Press a high-conviction trade for a day or two | Amplified gains while the trend holds | Losses compound just as fast on a reversal |
| Make a leveraged index or sector bet | 3x on tech, semis, small-caps or the broad market | Volatility decay if you sit through chop, even flat markets |
Frequently asked questions
Why do 3x ETFs lose money when the index ends flat?
Because the leverage resets at the close every day and the gains and losses compound against each other. An up day and a down day do not cancel out once you triple them. In a market that chops sideways and finishes flat, a 3x fund can still lose most of its value, because it has to climb out of a deeper hole every single day. Our volatility drag and decay post walks through the math with real examples.
How long can you hold a 3x ETF?
There is no fixed safe window. It depends on how volatile the underlying is. For a calmer index like the S&P 500 in a steady trend, a few weeks can be fine. For something that swings hard day to day, even a week can cost real decay. Most issuers say to check the position daily and treat anything past a few days as a decision you keep re-making, not a hold.
Is TQQQ a good long-term investment?
It was not built to be one. TQQQ has posted huge returns in long Nasdaq bull runs, which is why people recommend it, but the same daily reset that powers those gains can erase years of them in one bad stretch. It fell roughly 80% from its peak in the 2022 selloff. Holding it for years is a bet that the market trends up smoothly enough for the compounding to help more than the decay hurts, which is a far bigger bet than just buying QQQ. For a heavily backtested take on why passive buy-and-hold tends to underperform a timed approach with leveraged QQQ, see this analysis by Lambros Petrou.
Can a 3x leveraged ETF go to zero?
A single day almost never wipes one out, since the index would have to drop about 33% in a day to take a 3x fund to zero. The real risk is slower. Long drawdowns and choppy stretches grind the price down, and funds answer with reverse splits to keep the share price reasonable. TQQQ and SOXL have each done several. A reverse split does not cost you money on its own, but it is a clear marker of how far the fund has fallen.
What is the difference between a 3x and a 2x ETF?
A 2x fund targets twice the index's daily move and a 3x fund targets three times. The extra leverage does not just scale gains and losses by 1.5x, it scales the volatility decay by about 3x, so a 3x fund drifts away from its target much faster in a rough market. If you are weighing the two, the 2x ETF list has the same breakdown for double-leveraged funds.
How do funds achieve 3x exposure?
They do not hold three times as much stock. The fund gets the extra exposure through derivatives, mostly total-return swaps with banks plus index futures, so every $1 invested controls about $3 of the index. Managers rebalance that book at the close every day to reset the 3:1 ratio, which is the daily reset that drives everything else on this page.
Can I trade options on a 3x ETF?
On the big ones, yes. TQQQ, SQQQ, SOXL and SPXL all have active, liquid options chains. Smaller 3x funds often have thin or no listed options. Keep in mind that an option on a 3x ETF is leverage stacked on leverage: the fund already moves three times the index, and the daily-reset decay shows up as high implied volatility and fast time decay in the contracts. That makes them an even shorter-term trade than the ETF itself.