2MU.L vs. 2NFL.L
2MU.L (Leverage Shares 2x Micron Technology ETC GBP) and 2NFL.L (Leverage Shares 2x Netflix ETC A GBP) are both Leveraged Equities funds from Leverage Shares - 2MU.L tracks the iSTOXX Leveraged 2X MU Index while 2NFL.L tracks the NYSE Leveraged 2x NFLX Index. Both are passively managed. Over the past 5 years, 2MU.L returned 108.24%/yr vs -12.56%/yr for 2NFL.L. At a 0.20 correlation, their price movements are largely independent. Both charge a 0.75% expense ratio.
Performance
2MU.L vs. 2NFL.L - Performance Comparison
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Returns By Period
In the year-to-date period, 2MU.L achieves a 1,048.84% return, which is significantly higher than 2NFL.L's -44.10% return.
2MU.L
- 1D
- 0.00%
- 1M
- 113.85%
- YTD
- 1,048.84%
- 6M
- 1,176.49%
- 1Y
- 5,133.05%
- 3Y*
- 342.43%
- 5Y*
- 108.24%
- 10Y*
- —
2NFL.L
- 1D
- -1.82%
- 1M
- -32.42%
- YTD
- -44.10%
- 6M
- -44.04%
- 1Y
- -71.49%
- 3Y*
- 17.14%
- 5Y*
- -12.56%
- 10Y*
- —
2MU.L vs. 2NFL.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
2MU.L Leverage Shares 2x Micron Technology ETC GBP | 1,048.84% | 550.25% | -30.59% | 142.95% | -76.42% | 45.29% | 65.67% |
2NFL.L Leverage Shares 2x Netflix ETC A GBP | -44.10% | -20.02% | 192.97% | 115.23% | -87.10% | 23.08% | 27.85% |
Correlation
The correlation between 2MU.L and 2NFL.L is -0.14, 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 | -0.14 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.09 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.19 |
Correlation (All Time) Calculated using the full available price history since Jun 4, 2020 | 0.20 |
The correlation between 2MU.L and 2NFL.L shifts across timeframes, from -0.14 (1 year) to 0.20 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
2MU.L vs. 2NFL.L — Risk / Return Rank
2MU.L
2NFL.L
2MU.L vs. 2NFL.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Leverage Shares 2x Micron Technology ETC GBP (2MU.L) and Leverage Shares 2x Netflix ETC A GBP (2NFL.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.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| 2MU.L | 2NFL.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +36.66 | ||
| Sortino ratioReturn per unit of downside risk | +8.71 | ||
| Omega ratioGain probability vs. loss probability | 1.84 | 0.74 | +1.10 |
| Calmar ratioReturn relative to maximum drawdown | 96.49 | -0.96 | +97.44 |
| Martin ratioReturn relative to average drawdown | 321.59 | -1.52 | +323.12 |
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Drawdowns
2MU.L vs. 2NFL.L - Drawdown Comparison
The maximum 2MU.L drawdown since its inception was -89.16%, smaller than the maximum 2NFL.L drawdown of -95.91%. Use the drawdown chart below to compare losses from any high point for 2MU.L and 2NFL.L.
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Drawdown Indicators
| 2MU.L | 2NFL.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -89.16% | -95.91% | +6.75% |
Max Drawdown (1Y)Largest decline over 1 year | -53.20% | -74.41% | +21.21% |
Max Drawdown (3Y)Largest decline over 3 years | -89.16% | -74.41% | -14.75% |
Max Drawdown (5Y)Largest decline over 5 years | -89.16% | -95.91% | +6.75% |
Current DrawdownCurrent decline from peak | 0.00% | -74.41% | +74.41% |
Average DrawdownAverage peak-to-trough decline | -44.45% | -51.58% | +7.13% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 15.96% | 46.99% | -31.03% |
Volatility
2MU.L vs. 2NFL.L - Volatility Comparison
Leverage Shares 2x Micron Technology ETC GBP (2MU.L) has a higher volatility of 45.75% compared to Leverage Shares 2x Netflix ETC A GBP (2NFL.L) at 15.88%. This indicates that 2MU.L's price experiences larger fluctuations and is considered to be riskier than 2NFL.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| 2MU.L | 2NFL.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 45.75% | 15.88% | +29.87% |
Volatility (6M)Calculated over the trailing 6-month period | 100.35% | 51.83% | +48.52% |
Volatility (1Y)Calculated over the trailing 1-year period | 144.36% | 64.76% | +79.60% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 108.99% | 92.29% | +16.70% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 103.94% | 87.72% | +16.22% |
2MU.L vs. 2NFL.L - Expense Ratio Comparison
Both 2MU.L and 2NFL.L have an expense ratio of 0.75%.
Dividends
2MU.L vs. 2NFL.L - Dividend Comparison
Neither 2MU.L nor 2NFL.L has paid dividends to shareholders.
Frequently Asked Questions
2MU.L and 2NFL.L have a correlation of -0.14, 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.
2MU.L and 2NFL.L have the same expense ratio: 0.75% per year.
2MU.L tracks iSTOXX Leveraged 2X MU Index, while 2NFL.L tracks NYSE Leveraged 2x NFLX Index.
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