2MSF.L vs. 3XLE.L
2MSF.L (Leverage Shares 2x Microsoft ETC A GBP) and 3XLE.L (Leverage Shares 3x Long Oil & Gas ETP Securities GBP) are both Leveraged Equities funds from Leverage Shares. 2MSF.L is passively managed, while 3XLE.L is actively managed. Over the past 3 years, 2MSF.L returned 0.32%/yr vs 14.74%/yr for 3XLE.L. At a 0.03 correlation, their price movements are largely independent. Both charge a 0.75% expense ratio.
Performance
2MSF.L vs. 3XLE.L - Performance Comparison
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Returns By Period
In the year-to-date period, 2MSF.L achieves a -27.61% return, which is significantly lower than 3XLE.L's 97.09% 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*
- —
3XLE.L
- 1D
- -0.49%
- 1M
- -5.14%
- YTD
- 97.09%
- 6M
- 82.88%
- 1Y
- 133.33%
- 3Y*
- 14.74%
- 5Y*
- —
- 10Y*
- —
2MSF.L vs. 3XLE.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
2MSF.L Leverage Shares 2x Microsoft ETC A GBP | -27.61% | 4.50% | 17.75% | 106.56% | -51.52% | 3.74% |
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 2MSF.L and 3XLE.L is -0.08, 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 | -0.08 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.02 |
Correlation (All Time) Calculated using the full available price history since Dec 17, 2021 | 0.03 |
The correlation between 2MSF.L and 3XLE.L shifts across timeframes, from -0.08 (1 year) to 0.03 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
2MSF.L vs. 3XLE.L — Risk / Return Rank
2MSF.L
3XLE.L
2MSF.L vs. 3XLE.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 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.
| 2MSF.L | 3XLE.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.36 | ||
| Sortino ratioReturn per unit of downside risk | -2.43 | ||
| Omega ratioGain probability vs. loss probability | 0.98 | 1.31 | -0.33 |
| Calmar ratioReturn relative to maximum drawdown | -0.37 | 3.38 | -3.75 |
| Martin ratioReturn relative to average drawdown | -0.63 | 9.27 | -9.90 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| 2MSF.L | 3XLE.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.38 | 1.99 | -2.36 |
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 | 0.34 | +0.21 |
Drawdowns
2MSF.L vs. 3XLE.L - Drawdown Comparison
The maximum 2MSF.L drawdown since its inception was -66.77%, smaller than the maximum 3XLE.L drawdown of -74.89%. Use the drawdown chart below to compare losses from any high point for 2MSF.L and 3XLE.L.
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Drawdown Indicators
| 2MSF.L | 3XLE.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -66.77% | -74.89% | +8.12% |
Max Drawdown (1Y)Largest decline over 1 year | -66.77% | -39.26% | -27.51% |
Max Drawdown (3Y)Largest decline over 3 years | -66.77% | -66.05% | -0.72% |
Max Drawdown (5Y)Largest decline over 5 years | -66.77% | — | — |
Current DrawdownCurrent decline from peak | -54.46% | -32.03% | -22.43% |
Average DrawdownAverage peak-to-trough decline | -18.72% | -45.06% | +26.34% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 39.60% | 14.33% | +25.27% |
Volatility
2MSF.L vs. 3XLE.L - Volatility Comparison
The current volatility for Leverage Shares 2x Microsoft ETC A GBP (2MSF.L) is 20.94%, while Leverage Shares 3x Long Oil & Gas ETP Securities GBP (3XLE.L) has a volatility of 25.44%. This indicates that 2MSF.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
| 2MSF.L | 3XLE.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 20.94% | 25.44% | -4.50% |
Volatility (6M)Calculated over the trailing 6-month period | 48.79% | 57.73% | -8.94% |
Volatility (1Y)Calculated over the trailing 1-year period | 66.44% | 66.92% | -0.48% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 53.38% | 82.19% | -28.81% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 52.69% | 82.19% | -29.50% |
2MSF.L vs. 3XLE.L - Expense Ratio Comparison
Both 2MSF.L and 3XLE.L have an expense ratio of 0.75%.
Dividends
2MSF.L vs. 3XLE.L - Dividend Comparison
Neither 2MSF.L nor 3XLE.L has paid dividends to shareholders.
Frequently Asked Questions
2MSF.L and 3XLE.L have a correlation of -0.08, 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.
2MSF.L and 3XLE.L have the same expense ratio: 0.75% per year.
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