ProShares UltraPro QQQ (TQQQ) jumps 10% in a day, showing power and risks of 3x leverage on Nasdaq-100.

ProShares UltraPro QQQ (TQQQ), a 3x leveraged ETF tracking the Nasdaq-100, surged 10.09% in one day and gained 21.54% over the past week, outperforming the Nasdaq-100's 7.16% gain. While leverage amplifies returns in strong trending markets, it also causes volatility decay during choppy periods, which can erode gains. TQQQ holds a mix of derivatives and mega-cap tech stocks like NVIDIA, Apple, and Microsoft, and is popular among traders and institutions despite risks. Investors should watch for sustained Nasdaq trends, as volatility spikes can quickly reverse gains in this fund.