I have been checking QQQS more and more recently, with Nasdaq breaking records each week.
However I found something interesting, maybe someone has better knowledge to explain.
Now the official page claims:
WisdomTree NASDAQ 100® 3x Daily Short is a fully collateralised, UCITS eligible Exchange-Traded Product. The ETP tracks the NASDAQ-100® 3x Inverse Total Return index, providing three times the inverse daily performance of the NASDAQ-100 TR index, adjusted to reflect fees as well as the costs and revenues inherent to shorting stocks.
Now if I understood correctly I should check Nasdaq 100 Total return index and x3 to get the result for the QQQS - inverse daily 3x.
So I went SA to check TR index.
It shows negative returns, so one should expect inverse to have positive, however surprising.
Inverse is also negative and almost 3%…
So what am I missing here? I understand that QQQS is LSE listed, so it is open on UK market time, so how does QQQS track movement of NASDAQ-100 TR then?