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A leveraged ETF in a choppy market · Part 3 of 3
An index moves +10% one day and −10% the next. A 2× leveraged ETF delivers twice the index’s daily return, rebalancing each day.
By how many percentage points does the 2× ETF fall short of twice the index’s two-day return?
Answer with a number. Fractions, powers and expressions like 23/6 or C(52,5) are read correctly in practice.
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