$Direxion Daily Semiconductors Bull 3x Shares(SOXL)$ SOXL seeks to deliver 300% (3x) of the daily return of its underlying index (the NYSE Semiconductor Index, which covers top chipmakers like Nvidia, AMD, Broadcom, and Intel). Because leverage resets daily, returns over periods longer than a single day do not equal 3x the cumulative index return. In volatile or sideways markets, compounding reset losses (volatility decay) erode performance even if the underlying index stays flat. The swing recently allows fast returns.
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