Does reciting Surat Al-Ikhlas three times equate to the reward of reciting the entire Qur'an, despite the multitude of letters in the Qur'an and the good deeds that result therefrom?

Scholars have differed regarding the meaning of the Hadith (definition) "Say: He is Allah, the One and Only, is equivalent to one-third of the Qur'an," offering several interpretations: either it is equivalent to one-third of the Qur'an based on the meanings of the Qur'an (rulings, stories, and monotheism), or based on the reward, or that whoever acts upon its essence of sincerity and monotheism is like one who has recited one-third of the Qur'an, or that the virtue is specific to the man mentioned in the Hadith. The closest view is that the reward for reciting it is like the reward for one-third of the Qur'an, with multiplication.