You're being paid 3.24% to absorb price risk. Only ~1.59% of it is real fees (the other ~51% is decaying emissions) — and they stop covering impermanent loss if USDC-WBTC-WETH diverges more than ±43%.
Real fee/staking yield: 1.59% · token emissions: 51% of the headline.
Break-even fact: a ±43% move in USDC-WBTC-WETH erases a full year of the fees you actually keep (~1.59%). Whether that move happens is up to the market — but any emissions inflating the headline will fade regardless.
Source: DefiLlama. Verdict is a heuristic over public data, not financial advice.