TQQQ vs. QQQ: What's the Difference? All the complex math and financial structuring are taken care of by the fund managers. For example, from the beginning of 2020 to September 11 th, the Nasdaq has posted a 19. However, the actual return investors received was only 33. This is because the 3X leverage compounds daily and the compounding will create a variance that drives the actual... ProShares ..