Leveraged ETF decay calculator

How this works

Leveraged and inverse funds such as BITU (2x) and SBIT (−2x) rebalance every day to target a multiple of that day's return. Compounding those daily returns is not the same as multiplying the whole period's return, and the gap widens when the underlying is choppy.

We take Binance daily closes for the last ~3 years, slide a window of your chosen length across them, and compound1 + leverage × daily return inside each window. "Naive" is leverage × the window's plain return. Fees, financing costs and tracking error are not included, so real funds do slightly worse.