2BRE.L vs. 3GDE.L
2BRE.L (Leverage Shares 2x Long Berkshire Hathaway (BRK-B) ETC EUR) and 3GDE.L (Leverage Shares 3x Long Gold Miners ETC EUR) are both Leveraged Equities funds from Leverage Shares. Both are actively managed. Over the past 3 years, 2BRE.L returned 11.31%/yr vs 48.28%/yr for 3GDE.L. At a 0.03 correlation, their price movements are largely independent. Both charge a 0.75% expense ratio.
Performance
2BRE.L vs. 3GDE.L - Performance Comparison
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Returns By Period
In the year-to-date period, 2BRE.L achieves a -13.89% return, which is significantly higher than 3GDE.L's -37.35% return.
2BRE.L
- 1D
- 0.62%
- 1M
- 3.98%
- YTD
- -13.89%
- 6M
- -14.34%
- 1Y
- -18.63%
- 3Y*
- 11.31%
- 5Y*
- —
- 10Y*
- —
3GDE.L
- 1D
- 1.26%
- 1M
- -8.26%
- YTD
- -37.35%
- 6M
- -27.48%
- 1Y
- 84.63%
- 3Y*
- 48.28%
- 5Y*
- —
- 10Y*
- —
2BRE.L vs. 3GDE.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
2BRE.L Leverage Shares 2x Long Berkshire Hathaway (BRK-B) ETC EUR | -13.89% | -4.91% | 55.13% | 18.25% | 4.42% | -0.89% |
3GDE.L Leverage Shares 3x Long Gold Miners ETC EUR | -37.35% | 690.23% | -13.19% | -17.59% | -53.82% | 13.19% |
Correlation
The correlation between 2BRE.L and 3GDE.L is -0.07, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.07 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.04 |
Correlation (All Time) Calculated using the full available price history since Dec 17, 2021 | 0.03 |
The correlation between 2BRE.L and 3GDE.L shifts across timeframes, from -0.07 (1 year) to 0.03 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
2BRE.L vs. 3GDE.L — Risk / Return Rank
2BRE.L
3GDE.L
2BRE.L vs. 3GDE.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Leverage Shares 2x Long Berkshire Hathaway (BRK-B) ETC EUR (2BRE.L) and Leverage Shares 3x Long Gold Miners ETC EUR (3GDE.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.
| 2BRE.L | 3GDE.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.30 | ||
| Sortino ratioReturn per unit of downside risk | -2.45 | ||
| Omega ratioGain probability vs. loss probability | 0.91 | 1.21 | -0.30 |
| Calmar ratioReturn relative to maximum drawdown | -0.82 | 1.18 | -2.00 |
| Martin ratioReturn relative to average drawdown | -1.60 | 2.47 | -4.07 |
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
| 2BRE.L | 3GDE.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.66 | 0.64 | -1.30 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.30 | 0.14 | +0.16 |
Drawdowns
2BRE.L vs. 3GDE.L - Drawdown Comparison
The maximum 2BRE.L drawdown since its inception was -40.62%, smaller than the maximum 3GDE.L drawdown of -89.24%. Use the drawdown chart below to compare losses from any high point for 2BRE.L and 3GDE.L.
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Drawdown Indicators
| 2BRE.L | 3GDE.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -40.62% | -89.24% | +48.62% |
Max Drawdown (1Y)Largest decline over 1 year | -22.65% | -71.29% | +48.64% |
Max Drawdown (3Y)Largest decline over 3 years | -39.67% | -71.29% | +31.62% |
Current DrawdownCurrent decline from peak | -37.26% | -69.39% | +32.13% |
Average DrawdownAverage peak-to-trough decline | -19.10% | -62.96% | +43.86% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 11.62% | 34.13% | -22.51% |
Volatility
2BRE.L vs. 3GDE.L - Volatility Comparison
The current volatility for Leverage Shares 2x Long Berkshire Hathaway (BRK-B) ETC EUR (2BRE.L) is 7.24%, while Leverage Shares 3x Long Gold Miners ETC EUR (3GDE.L) has a volatility of 46.44%. This indicates that 2BRE.L experiences smaller price fluctuations and is considered to be less risky than 3GDE.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| 2BRE.L | 3GDE.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.24% | 46.44% | -39.20% |
Volatility (6M)Calculated over the trailing 6-month period | 20.36% | 107.37% | -87.01% |
Volatility (1Y)Calculated over the trailing 1-year period | 28.18% | 130.76% | -102.58% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 37.23% | 109.47% | -72.24% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 37.23% | 109.47% | -72.24% |
2BRE.L vs. 3GDE.L - Expense Ratio Comparison
Both 2BRE.L and 3GDE.L have an expense ratio of 0.75%.
Dividends
2BRE.L vs. 3GDE.L - Dividend Comparison
Neither 2BRE.L nor 3GDE.L has paid dividends to shareholders.
Frequently Asked Questions
2BRE.L and 3GDE.L have a correlation of -0.07, 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.
2BRE.L and 3GDE.L have the same expense ratio: 0.75% per year.
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