SOXL, six months — where each month's low actually fell

Blue dot = first session of the month, what you'd pay buying on a calendar. Red dot = that month's lowest close, the best you could have done.

Alpaca SIP + IEX daily closes, split and dividend adjusted. Each big move reconciles against 3× SOXX to within a percentage point (11 Nov: SOXL −38.6% vs 3×SOXX −38.8%).