2MSF.L vs. 3QQQ.L
2MSF.L (Leverage Shares 2x Microsoft ETC A GBP) and 3QQQ.L (Leverage Shares 3x Long US Tech 100 ETP Securities) are both Leveraged Equities funds from Leverage Shares. 2MSF.L is passively managed, while 3QQQ.L is actively managed. Over the past 3 years, 2MSF.L returned 0.32%/yr vs 52.15%/yr for 3QQQ.L. A 0.67 correlation means they provide meaningful diversification when combined. 2MSF.L charges 0.75%/yr vs 0.01%/yr for 3QQQ.L.
Performance
2MSF.L vs. 3QQQ.L - Performance Comparison
Loading charts...
Different Trading Currencies
2MSF.L is traded in GBp, while 3QQQ.L is traded in USD. To make them comparable, the 3QQQ.L values have been converted to GBp using the latest available exchange rates.
Returns By Period
In the year-to-date period, 2MSF.L achieves a -27.61% return, which is significantly lower than 3QQQ.L's 55.82% return.
2MSF.L
- 1D
- 2.03%
- 1M
- 9.24%
- YTD
- -27.61%
- 6M
- -26.03%
- 1Y
- -25.08%
- 3Y*
- 0.32%
- 5Y*
- 10.56%
- 10Y*
- —
3QQQ.L
- 1D
- -1.99%
- 1M
- 28.14%
- YTD
- 55.82%
- 6M
- 48.52%
- 1Y
- 122.07%
- 3Y*
- 52.15%
- 5Y*
- —
- 10Y*
- —
2MSF.L vs. 3QQQ.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
2MSF.L Leverage Shares 2x Microsoft ETC A GBP | -27.61% | 4.50% | 17.75% | 106.56% | -25.82% |
3QQQ.L Leverage Shares 3x Long US Tech 100 ETP Securities | 55.82% | 5.78% | 63.73% | 172.86% | -55.10% |
Correlation
The correlation between 2MSF.L and 3QQQ.L is 0.47, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.47 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.62 |
Correlation (All Time) Calculated using the full available price history since Jun 7, 2022 | 0.67 |
Over the past year, the correlation between 2MSF.L and 3QQQ.L has dropped to 0.47 - well below their long-term average of 0.67, suggesting their price drivers have been diverging.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
2MSF.L vs. 3QQQ.L — Risk / Return Rank
2MSF.L
3QQQ.L
2MSF.L vs. 3QQQ.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 Long US Tech 100 ETP Securities (3QQQ.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 | 3QQQ.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.30 | ||
| Sortino ratioReturn per unit of downside risk | -2.83 | ||
| Omega ratioGain probability vs. loss probability | 0.98 | 1.40 | -0.42 |
| Calmar ratioReturn relative to maximum drawdown | -0.37 | 2.56 | -2.94 |
| Martin ratioReturn relative to average drawdown | -0.63 | 5.32 | -5.96 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
Loading charts...
Sharpe Ratios by Period
| 2MSF.L | 3QQQ.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.38 | 1.93 | -2.30 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.20 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.55 | 0.55 | 0.00 |
Drawdowns
2MSF.L vs. 3QQQ.L - Drawdown Comparison
The maximum 2MSF.L drawdown since its inception was -66.77%, which is greater than 3QQQ.L's maximum drawdown of -58.71%. Use the drawdown chart below to compare losses from any high point for 2MSF.L and 3QQQ.L.
Loading charts...
Drawdown Indicators
| 2MSF.L | 3QQQ.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -66.77% | -58.71% | -8.06% |
Max Drawdown (1Y)Largest decline over 1 year | -66.77% | -47.38% | -19.39% |
Max Drawdown (3Y)Largest decline over 3 years | -66.77% | -58.71% | -8.06% |
Max Drawdown (5Y)Largest decline over 5 years | -66.77% | — | — |
Current DrawdownCurrent decline from peak | -54.46% | -1.99% | -52.47% |
Average DrawdownAverage peak-to-trough decline | -18.72% | -20.53% | +1.81% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 39.60% | 22.84% | +16.76% |
Volatility
2MSF.L vs. 3QQQ.L - Volatility Comparison
Leverage Shares 2x Microsoft ETC A GBP (2MSF.L) has a higher volatility of 20.94% compared to Leverage Shares 3x Long US Tech 100 ETP Securities (3QQQ.L) at 14.48%. This indicates that 2MSF.L's price experiences larger fluctuations and is considered to be riskier than 3QQQ.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| 2MSF.L | 3QQQ.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 20.94% | 14.48% | +6.46% |
Volatility (6M)Calculated over the trailing 6-month period | 48.79% | 33.01% | +15.78% |
Volatility (1Y)Calculated over the trailing 1-year period | 66.44% | 63.04% | +3.40% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 53.38% | 62.77% | -9.39% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 52.69% | 62.77% | -10.08% |
2MSF.L vs. 3QQQ.L - Expense Ratio Comparison
2MSF.L has a 0.75% expense ratio, which is higher than 3QQQ.L's 0.01% expense ratio.
Dividends
2MSF.L vs. 3QQQ.L - Dividend Comparison
Neither 2MSF.L nor 3QQQ.L has paid dividends to shareholders.
Frequently Asked Questions
2MSF.L and 3QQQ.L have a correlation of 0.47, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, 3QQQ.L is cheaper at 0.01% per year. The better choice depends on whether you care most about return, fees, risk, or income.
3QQQ.L is cheaper with a 0.01% expense ratio, compared with 0.75% for 2MSF.L.
Their fees differ too: 0.75% for 2MSF.L and 0.01% for 3QQQ.L.
Find the right allocation for 2MSF.L and 3QQQ.L
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer