2MSF.L vs. 3BP.L

Last updated Apr 1, 2026

Compare and contrast key facts about Leverage Shares 2x Microsoft ETC A GBP (2MSF.L) and Leverage Shares 3x BP ETP GBX (3BP.L).

2MSF.L and 3BP.L are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. 2MSF.L is a passively managed fund by Leverage Shares that tracks the performance of the NYSE Leveraged 2x MSFT Index. It was launched on Dec 5, 2017. 3BP.L is a passively managed fund by Leverage Shares that tracks the performance of the iSTOXX Leveraged 3x BP Index. It was launched on Mar 15, 2021. Both 2MSF.L and 3BP.L are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.

Performance

2MSF.L vs. 3BP.L - Performance Comparison

The chart below illustrates the hypothetical performance of a £10,000 investment in Leverage Shares 2x Microsoft ETC A GBP (2MSF.L) and Leverage Shares 3x BP ETP GBX (3BP.L). The values are adjusted to include any dividend payments, if applicable.

2MSF.L vs. 3BP.L - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
2MSF.L Leverage Shares 2x Microsoft ETC A GBP	-45.63%	4.50%	17.75%	106.56%	-51.52%	109.12%
3BP.L Leverage Shares 3x BP ETP GBX	146.96%	16.83%	-49.99%	-15.24%	58.02%	-4.62%

Returns By Period

In the year-to-date period, 2MSF.L achieves a -45.63% return, which is significantly lower than 3BP.L's 146.96% return.

2MSF.L

• 1D: 0.52%
• 1M: -13.92%
• YTD: -45.63%
• 6M: -52.81%
• 1Y: -18.49%
• 3Y*: 1.44%
• 5Y*: 5.35%
• 10Y*: —

3BP.L

• 1D: 4.27%
• 1M: 89.44%
• YTD: 146.96%
• 6M: 144.98%
• 1Y: 104.90%
• 3Y*: 0.36%
• 5Y*: 18.94%
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

2MSF.L vs. 3BP.L - Expense Ratio Comparison

Both 2MSF.L and 3BP.L have an expense ratio of 0.75%.

2MSF.L

Leverage Shares 2x Microsoft ETC A GBP

3BP.L

Leverage Shares 3x BP ETP GBX

Return for Risk

2MSF.L vs. 3BP.L — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

2MSF.L

2MSF.L Risk / Return Rank: 8
2MSF.L Sharpe Ratio Rank: 7
2MSF.L Sortino Ratio Rank: 10
2MSF.L Omega Ratio Rank: 10
2MSF.L Calmar Ratio Rank: 6
2MSF.L Martin Ratio Rank: 6

3BP.L

3BP.L Risk / Return Rank: 62
3BP.L Sharpe Ratio Rank: 65
3BP.L Sortino Ratio Rank: 67
3BP.L Omega Ratio Rank: 66
3BP.L Calmar Ratio Rank: 70
3BP.L Martin Ratio Rank: 43

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

2MSF.L vs. 3BP.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Leverage Shares 2x Microsoft ETC A GBP (2MSF.L) and Leverage Shares 3x BP ETP GBX (3BP.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.

	2MSF.L	3BP.L	Difference
Sharpe ratio Return per unit of total volatility	-0.28	1.18	-1.45
Sortino ratio Return per unit of downside risk	0.04	1.73	-1.70
Omega ratio Gain probability vs. loss probability	1.01	1.25	-0.24
Calmar ratio Return relative to maximum drawdown	-0.35	1.84	-2.19
Martin ratio Return relative to average drawdown	-0.74	4.16	-4.90
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

2MSF.L vs. 3BP.L - Sharpe Ratio Comparison

The current 2MSF.L Sharpe Ratio is -0.28, which is lower than the 3BP.L Sharpe Ratio of 1.18. The chart below compares the historical Sharpe Ratios of 2MSF.L and 3BP.L, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	2MSF.L	3BP.L	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.28	1.18	-1.45
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.10	0.23	-0.13
Sharpe Ratio (All Time) Calculated using the full available price history	0.48	0.16	+0.33

Correlation

The correlation between 2MSF.L and 3BP.L is -0.01. This indicates that the assets' prices tend to move in opposite directions. Negative correlation can be particularly beneficial for diversification and risk management, as one asset may offset the losses of the other during market fluctuations.

Dividends

2MSF.L vs. 3BP.L - Dividend Comparison

Neither 2MSF.L nor 3BP.L has paid dividends to shareholders.

Tickers have no history of dividend payments

Drawdowns

2MSF.L vs. 3BP.L - Drawdown Comparison

The maximum 2MSF.L drawdown since its inception was -66.77%, smaller than the maximum 3BP.L drawdown of -85.47%. Use the drawdown chart below to compare losses from any high point for 2MSF.L and 3BP.L.

Drawdown Indicators

	2MSF.L	3BP.L	Difference
Max Drawdown Largest peak-to-trough decline	-66.77%	-85.47%	+18.70%
Max Drawdown (1Y) Largest decline over 1 year	-66.77%	-59.39%	-7.38%
Max Drawdown (5Y) Largest decline over 5 years	-66.77%	-85.47%	+18.70%
Current Drawdown Current decline from peak	-65.80%	-25.21%	-40.59%
Average Drawdown Average peak-to-trough decline	-17.91%	-43.73%	+25.82%
Ulcer Index Depth and duration of drawdowns from previous peaks	31.66%	26.24%	+5.42%

Volatility

2MSF.L vs. 3BP.L - Volatility Comparison

The current volatility for Leverage Shares 2x Microsoft ETC A GBP (2MSF.L) is 9.74%, while Leverage Shares 3x BP ETP GBX (3BP.L) has a volatility of 30.92%. This indicates that 2MSF.L experiences smaller price fluctuations and is considered to be less risky than 3BP.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	2MSF.L	3BP.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	9.74%	30.92%	-21.18%
Volatility (6M) Calculated over the trailing 6-month period	56.67%	60.31%	-3.64%
Volatility (1Y) Calculated over the trailing 1-year period	67.06%	88.68%	-21.62%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	52.29%	89.19%	-36.90%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	52.22%	89.22%	-37.00%