2AMZ.L vs. 3XLE.L
2AMZ.L (Leverage Shares 2x Amazon ETC A GBP) and 3XLE.L (Leverage Shares 3x Long Oil & Gas ETP Securities GBP) are both Leveraged Equities funds from Leverage Shares. 2AMZ.L is passively managed, while 3XLE.L is actively managed. Over the past 3 years, 2AMZ.L returned 29.88%/yr vs 14.74%/yr for 3XLE.L. At a 0.05 correlation, their price movements are largely independent. Both charge a 0.75% expense ratio.
Performance
2AMZ.L vs. 3XLE.L - Performance Comparison
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Returns By Period
In the year-to-date period, 2AMZ.L achieves a 11.26% return, which is significantly lower than 3XLE.L's 97.09% return.
2AMZ.L
- 1D
- 3.02%
- 1M
- -15.30%
- YTD
- 11.26%
- 6M
- 13.88%
- 1Y
- 27.97%
- 3Y*
- 29.88%
- 5Y*
- 0.03%
- 10Y*
- —
3XLE.L
- 1D
- -0.49%
- 1M
- -5.14%
- YTD
- 97.09%
- 6M
- 82.88%
- 1Y
- 133.33%
- 3Y*
- 14.74%
- 5Y*
- —
- 10Y*
- —
2AMZ.L vs. 3XLE.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
2AMZ.L Leverage Shares 2x Amazon ETC A GBP | 11.26% | -18.82% | 83.06% | 165.76% | -80.00% | -1.89% |
3XLE.L Leverage Shares 3x Long Oil & Gas ETP Securities GBP | 97.09% | -17.73% | -12.65% | -29.34% | 191.33% | -3.39% |
Correlation
The correlation between 2AMZ.L and 3XLE.L is -0.24, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.24 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.01 |
Correlation (All Time) Calculated using the full available price history since Dec 17, 2021 | 0.05 |
The correlation between 2AMZ.L and 3XLE.L shifts across timeframes, from -0.24 (1 year) to 0.05 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
2AMZ.L vs. 3XLE.L — Risk / Return Rank
2AMZ.L
3XLE.L
2AMZ.L vs. 3XLE.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Leverage Shares 2x Amazon ETC A GBP (2AMZ.L) and Leverage Shares 3x Long Oil & Gas ETP Securities GBP (3XLE.L). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.
| 2AMZ.L | 3XLE.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.53 | ||
| Sortino ratioReturn per unit of downside risk | -1.27 | ||
| Omega ratioGain probability vs. loss probability | 1.13 | 1.31 | -0.18 |
| Calmar ratioReturn relative to maximum drawdown | 0.62 | 3.38 | -2.76 |
| Martin ratioReturn relative to average drawdown | 1.39 | 9.27 | -7.88 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| 2AMZ.L | 3XLE.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.46 | 1.99 | -1.53 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.00 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.12 | 0.34 | -0.22 |
Drawdowns
2AMZ.L vs. 3XLE.L - Drawdown Comparison
The maximum 2AMZ.L drawdown since its inception was -84.11%, which is greater than 3XLE.L's maximum drawdown of -74.89%. Use the drawdown chart below to compare losses from any high point for 2AMZ.L and 3XLE.L.
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Drawdown Indicators
| 2AMZ.L | 3XLE.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -84.11% | -74.89% | -9.22% |
Max Drawdown (1Y)Largest decline over 1 year | -44.87% | -39.26% | -5.61% |
Max Drawdown (3Y)Largest decline over 3 years | -55.29% | -66.05% | +10.76% |
Max Drawdown (5Y)Largest decline over 5 years | -84.11% | — | — |
Current DrawdownCurrent decline from peak | -28.39% | -32.03% | +3.64% |
Average DrawdownAverage peak-to-trough decline | -38.82% | -45.06% | +6.24% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 20.13% | 14.33% | +5.80% |
Volatility
2AMZ.L vs. 3XLE.L - Volatility Comparison
The current volatility for Leverage Shares 2x Amazon ETC A GBP (2AMZ.L) is 18.03%, while Leverage Shares 3x Long Oil & Gas ETP Securities GBP (3XLE.L) has a volatility of 25.44%. This indicates that 2AMZ.L experiences smaller price fluctuations and is considered to be less risky than 3XLE.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| 2AMZ.L | 3XLE.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 18.03% | 25.44% | -7.41% |
Volatility (6M)Calculated over the trailing 6-month period | 46.46% | 57.73% | -11.27% |
Volatility (1Y)Calculated over the trailing 1-year period | 60.35% | 66.92% | -6.57% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 68.33% | 82.19% | -13.86% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 72.70% | 82.19% | -9.49% |
2AMZ.L vs. 3XLE.L - Expense Ratio Comparison
Both 2AMZ.L and 3XLE.L have an expense ratio of 0.75%.
Dividends
2AMZ.L vs. 3XLE.L - Dividend Comparison
Neither 2AMZ.L nor 3XLE.L has paid dividends to shareholders.
Frequently Asked Questions
2AMZ.L and 3XLE.L have a correlation of -0.24, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
Both ETFs have the same 0.75% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.
2AMZ.L and 3XLE.L have the same expense ratio: 0.75% per year.
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