Leveraged ETF Volatility Decay Calculator
See how daily market volatility silently erodes capital in 2× and 3× leveraged ETFs (TQQQ, UPRO, SOXL) — even when the underlying index ends flat. Enter your capital, daily volatility, and leverage factor to project the day-by-day value over 30 trading days.
Calculator Inputs
3× Leveraged ETF — Day 30
₹97,005
-2.99% cumulative return
1× Benchmark — Day 30
₹99,663
-0.34% cumulative return
| Day | Direction | 3× Daily | 3× Value (INR) | 3× Cumul. | 1× Value (INR) | 1× Cumul. |
|---|---|---|---|---|---|---|
| 1 | ▲ Up | +4.50% | ₹1,04,500 | +4.50% | ₹1,01,500 | +1.50% |
| 2 | ▼ Down | -4.50% | ₹99,798 | -0.20% | ₹99,977 | -0.02% |
| 3 | ▲ Up | +4.50% | ₹1,04,288 | +4.29% | ₹1,01,477 | +1.48% |
| 4 | ▼ Down | -4.50% | ₹99,595 | -0.40% | ₹99,955 | -0.04% |
| 5 | ▲ Up | +4.50% | ₹1,04,077 | +4.08% | ₹1,01,454 | +1.45% |
| 6 | ▼ Down | -4.50% | ₹99,394 | -0.61% | ₹99,933 | -0.07% |
| 7 | ▲ Up | +4.50% | ₹1,03,866 | +3.87% | ₹1,01,432 | +1.43% |
| 8 | ▼ Down | -4.50% | ₹99,192 | -0.81% | ₹99,910 | -0.09% |
| 9 | ▲ Up | +4.50% | ₹1,03,656 | +3.66% | ₹1,01,409 | +1.41% |
| 10 | ▼ Down | -4.50% | ₹98,992 | -1.01% | ₹99,888 | -0.11% |
| 11 | ▲ Up | +4.50% | ₹1,03,446 | +3.45% | ₹1,01,386 | +1.39% |
| 12 | ▼ Down | -4.50% | ₹98,791 | -1.21% | ₹99,865 | -0.13% |
| 13 | ▲ Up | +4.50% | ₹1,03,237 | +3.24% | ₹1,01,363 | +1.36% |
| 14 | ▼ Down | -4.50% | ₹98,591 | -1.41% | ₹99,843 | -0.16% |
| 15 | ▲ Up | +4.50% | ₹1,03,028 | +3.03% | ₹1,01,340 | +1.34% |
| 16 | ▼ Down | -4.50% | ₹98,391 | -1.61% | ₹99,820 | -0.18% |
| 17 | ▲ Up | +4.50% | ₹1,02,819 | +2.82% | ₹1,01,317 | +1.32% |
| 18 | ▼ Down | -4.50% | ₹98,192 | -1.81% | ₹99,798 | -0.20% |
| 19 | ▲ Up | +4.50% | ₹1,02,611 | +2.61% | ₹1,01,295 | +1.29% |
| 20 | ▼ Down | -4.50% | ₹97,993 | -2.01% | ₹99,775 | -0.22% |
| 21 | ▲ Up | +4.50% | ₹1,02,403 | +2.40% | ₹1,01,272 | +1.27% |
| 22 | ▼ Down | -4.50% | ₹97,795 | -2.21% | ₹99,753 | -0.25% |
| 23 | ▲ Up | +4.50% | ₹1,02,196 | +2.20% | ₹1,01,249 | +1.25% |
| 24 | ▼ Down | -4.50% | ₹97,597 | -2.40% | ₹99,730 | -0.27% |
| 25 | ▲ Up | +4.50% | ₹1,01,989 | +1.99% | ₹1,01,226 | +1.23% |
| 26 | ▼ Down | -4.50% | ₹97,399 | -2.60% | ₹99,708 | -0.29% |
| 27 | ▲ Up | +4.50% | ₹1,01,782 | +1.78% | ₹1,01,204 | +1.20% |
| 28 | ▼ Down | -4.50% | ₹97,202 | -2.80% | ₹99,685 | -0.31% |
| 29 | ▲ Up | +4.50% | ₹1,01,576 | +1.58% | ₹1,01,181 | +1.18% |
| 30 | ▼ Down | -4.50% | ₹97,005 | -2.99% | ₹99,663 | -0.34% |
How Volatility Decay (Beta Decay) Works
This simulation uses an alternating up/down model: odd-numbered days the underlying rises by your Daily Volatility %, and even-numbered days it falls by the same amount. The index ends each two-day pair exactly flat — yet the 3× ETF compounds the move at 3× each day, producing a net loss. After one up/down pair, the leveraged ETF retains only (1 – 3² × σ²) of its value. This is beta decay or volatility drag, and it scales quadratically with both leverage and volatility.
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