Leveraged ETFs can be dangerous beyond a very short holding period. To this point, considering investing where returns for an un-levered (1x) ETF experienced the following:

Day 1- up 10%

Day 2- down 5%

Day 3- up 10%

Day 4- down 5%

With a 3x levered ETF tracking the same performance, how many time greater is the return for the 3x levered ETF vs the 1x un-levered ETF?