2MU.L vs. 3NFE.L
2MU.L (Leverage Shares 2x Micron Technology ETC GBP) and 3NFE.L (Leverage Shares 3x Netflix ETP Securities EUR) are both Leveraged Equities funds from Leverage Shares - 2MU.L tracks the iSTOXX Leveraged 2X MU Index while 3NFE.L tracks the iSTOXX Leveraged 3X NFLX Index. Both are passively managed. Over the past 5 years, 2MU.L returned 99.54%/yr vs -47.36%/yr for 3NFE.L. At a 0.22 correlation, their price movements are largely independent. Both charge a 0.75% expense ratio.
Performance
2MU.L vs. 3NFE.L - Performance Comparison
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Different Trading Currencies
2MU.L is traded in GBp, while 3NFE.L is traded in EUR. To make them comparable, the 3NFE.L values have been converted to GBp using the latest available exchange rates.
Returns By Period
In the year-to-date period, 2MU.L achieves a 890.70% return, which is significantly higher than 3NFE.L's -47.57% return.
2MU.L
- 1D
- 3.90%
- 1M
- 267.24%
- YTD
- 890.70%
- 6M
- 1,363.92%
- 1Y
- 6,514.91%
- 3Y*
- 298.47%
- 5Y*
- 99.54%
- 10Y*
- —
3NFE.L
- 1D
- -7.68%
- 1M
- -36.37%
- YTD
- -47.57%
- 6M
- -62.72%
- 1Y
- -81.76%
- 3Y*
- 20.60%
- 5Y*
- -47.36%
- 10Y*
- —
2MU.L vs. 3NFE.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
2MU.L Leverage Shares 2x Micron Technology ETC GBP | 890.70% | 550.25% | -30.59% | 142.95% | -76.42% | 45.29% | 65.67% |
3NFE.L Leverage Shares 3x Netflix ETP Securities EUR | -47.57% | -39.79% | 323.25% | 205.66% | -99.45% | 16.62% | 30.16% |
Correlation
The correlation between 2MU.L and 3NFE.L is -0.13, 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 | -0.13 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.12 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.22 |
Correlation (All Time) Calculated using the full available price history since Jun 5, 2020 | 0.22 |
The correlation between 2MU.L and 3NFE.L shifts across timeframes, from -0.13 (1 year) to 0.22 (5 years), reflecting how their relationship changes across market environments.
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Return for Risk
2MU.L vs. 3NFE.L — Risk / Return Rank
2MU.L
3NFE.L
2MU.L vs. 3NFE.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 3x Netflix ETP Securities EUR (3NFE.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.
| 2MU.L | 3NFE.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +51.19 | ||
| Sortino ratioReturn per unit of downside risk | +9.20 | ||
| Omega ratioGain probability vs. loss probability | 1.95 | 0.79 | +1.16 |
| Calmar ratioReturn relative to maximum drawdown | 120.42 | -0.95 | +121.37 |
| Martin ratioReturn relative to average drawdown | 429.29 | -1.39 | +430.68 |
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
| 2MU.L | 3NFE.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 50.34 | -0.85 | +51.19 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.95 | -0.38 | +1.33 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.99 | -0.35 | +1.35 |
Drawdowns
2MU.L vs. 3NFE.L - Drawdown Comparison
The maximum 2MU.L drawdown since its inception was -89.16%, smaller than the maximum 3NFE.L drawdown of -99.86%. Use the drawdown chart below to compare losses from any high point for 2MU.L and 3NFE.L.
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Drawdown Indicators
| 2MU.L | 3NFE.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -89.16% | -99.86% | +10.70% |
Max Drawdown (1Y)Largest decline over 1 year | -53.20% | -86.14% | +32.94% |
Max Drawdown (3Y)Largest decline over 3 years | -89.16% | -86.14% | -3.02% |
Max Drawdown (5Y)Largest decline over 5 years | -89.16% | -99.85% | +10.69% |
Current DrawdownCurrent decline from peak | 0.00% | -98.55% | +98.55% |
Average DrawdownAverage peak-to-trough decline | -44.86% | -82.72% | +37.86% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 14.95% | 58.89% | -43.94% |
Volatility
2MU.L vs. 3NFE.L - Volatility Comparison
Leverage Shares 2x Micron Technology ETC GBP (2MU.L) has a higher volatility of 53.51% compared to Leverage Shares 3x Netflix ETP Securities EUR (3NFE.L) at 29.14%. This indicates that 2MU.L's price experiences larger fluctuations and is considered to be riskier than 3NFE.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 | 3NFE.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 53.51% | 29.14% | +24.37% |
Volatility (6M)Calculated over the trailing 6-month period | 96.13% | 78.45% | +17.68% |
Volatility (1Y)Calculated over the trailing 1-year period | 127.53% | 95.77% | +31.76% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 104.70% | 124.58% | -19.88% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 100.80% | 122.56% | -21.76% |
2MU.L vs. 3NFE.L - Expense Ratio Comparison
Both 2MU.L and 3NFE.L have an expense ratio of 0.75%.
Dividends
2MU.L vs. 3NFE.L - Dividend Comparison
Neither 2MU.L nor 3NFE.L has paid dividends to shareholders.
Frequently Asked Questions
2MU.L and 3NFE.L have a correlation of -0.13, 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 3NFE.L have the same expense ratio: 0.75% per year.
2MU.L tracks iSTOXX Leveraged 2X MU Index, while 3NFE.L tracks iSTOXX Leveraged 3X NFLX Index.
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