No, they don't. Again, it's basic math, throw it into an Excel spreadsheet with the daily return and some different paths and it will be apparently how it works.
Ah, so you don't know. They do all end up at zero eventually. Do some research, you'll find I'm right. The charts won't show you that, because they do reverse splits after a while, and the charts smooth that out. I find it amazing that you are unaware of this.
Actually unlike you I've read the prospectus, modeled the output, and compared the model to actual results. I've been investing in these things for some time. You've clearly done none of these things. When you have feel free to come back and we can have an intelligent conversation.
Have you ever traded for real? https://www.investopedia.com/articl...5/why-leveraged-etfs-are-not-longterm-bet.asp
Can you actually read? If you had bothered to read your own posted link! you would have read an extensive explanation of the daily rebalancing impact that causes the 3x index to return something other than 3x over time. Again, when you can be bothered to read a prospectus, model the daily rebalancing, checking that against actual performance, and trade the product we can have an intellent conversation. Since I've done all those things and you've clearly done none, you're not adding anything useful to this conversation at this point. Good day.
Over time, it goes only one direction, down. The cost of the options and futures to earn a three times rate is not free. If you read the article and understand it, it says exactly what I said, they end up at zero.
Reverse splits, and then charts smooth out things like reverse splits, splits, etc... so that the charts look right for TA. This is one reason that non pro traders fall into the trap of doubling down on ultra ETFs. It's a horrible rookie mistake. The Ultra ETFs are meant for day trading, not holding.
Basic math seems to elude you my friend. No amount of reverse splits can prevent a thing that you assert "always goes to zero" from going to zero. Rookie division mistake.