2MU.L vs. 3NVD.L
2MU.L (Leverage Shares 2x Micron Technology ETC GBP) and 3NVD.L (Leverage Shares 3x NVIDIA ETP Securities GBP) are both Leveraged Equities funds from Leverage Shares - 2MU.L tracks the iSTOXX Leveraged 2X MU Index while 3NVD.L tracks the iSTOXX Leveraged 3X NVDA Index. Both are passively managed. Over the past 5 years, 2MU.L returned 99.54%/yr vs 82.31%/yr for 3NVD.L. A 0.52 correlation means they provide meaningful diversification when combined. Both charge a 0.75% expense ratio.
Performance
2MU.L vs. 3NVD.L - Performance Comparison
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Returns By Period
In the year-to-date period, 2MU.L achieves a 890.70% return, which is significantly higher than 3NVD.L's 20.65% 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*
- —
3NVD.L
- 1D
- -12.40%
- 1M
- 23.64%
- YTD
- 20.65%
- 6M
- 30.05%
- 1Y
- 114.77%
- 3Y*
- 132.01%
- 5Y*
- 82.31%
- 10Y*
- —
2MU.L vs. 3NVD.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% | 72.30% |
3NVD.L Leverage Shares 3x NVIDIA ETP Securities GBP | 20.65% | -12.14% | 735.89% | 1,729.24% | -96.41% | 536.91% | 65.07% |
Correlation
The correlation between 2MU.L and 3NVD.L is 0.46, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.46 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.49 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.53 |
Correlation (All Time) Calculated using the full available price history since Jul 2, 2020 | 0.52 |
The correlation between 2MU.L and 3NVD.L has been stable across timeframes, ranging from 0.46 to 0.53 - a consistent structural relationship.
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Return for Risk
2MU.L vs. 3NVD.L — Risk / Return Rank
2MU.L
3NVD.L
2MU.L vs. 3NVD.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 NVIDIA ETP Securities GBP (3NVD.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 | 3NVD.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +49.21 | ||
| Sortino ratioReturn per unit of downside risk | +5.68 | ||
| Omega ratioGain probability vs. loss probability | 1.95 | 1.23 | +0.72 |
| Calmar ratioReturn relative to maximum drawdown | 120.42 | 1.95 | +118.47 |
| Martin ratioReturn relative to average drawdown | 429.29 | 3.92 | +425.37 |
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 | 3NVD.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 50.34 | 1.13 | +49.21 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.95 | 0.57 | +0.38 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.99 | 0.72 | +0.28 |
Drawdowns
2MU.L vs. 3NVD.L - Drawdown Comparison
The maximum 2MU.L drawdown since its inception was -89.16%, smaller than the maximum 3NVD.L drawdown of -98.48%. Use the drawdown chart below to compare losses from any high point for 2MU.L and 3NVD.L.
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Drawdown Indicators
| 2MU.L | 3NVD.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -89.16% | -98.48% | +9.32% |
Max Drawdown (1Y)Largest decline over 1 year | -53.20% | -58.47% | +5.27% |
Max Drawdown (3Y)Largest decline over 3 years | -89.16% | -89.34% | +0.18% |
Max Drawdown (5Y)Largest decline over 5 years | -89.16% | -98.48% | +9.32% |
Current DrawdownCurrent decline from peak | 0.00% | -38.33% | +38.33% |
Average DrawdownAverage peak-to-trough decline | -44.86% | -53.01% | +8.15% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 14.95% | 29.19% | -14.24% |
Volatility
2MU.L vs. 3NVD.L - Volatility Comparison
Leverage Shares 2x Micron Technology ETC GBP (2MU.L) has a higher volatility of 53.51% compared to Leverage Shares 3x NVIDIA ETP Securities GBP (3NVD.L) at 36.52%. This indicates that 2MU.L's price experiences larger fluctuations and is considered to be riskier than 3NVD.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 | 3NVD.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 53.51% | 36.52% | +16.99% |
Volatility (6M)Calculated over the trailing 6-month period | 96.13% | 69.21% | +26.92% |
Volatility (1Y)Calculated over the trailing 1-year period | 127.53% | 101.34% | +26.19% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 104.70% | 146.09% | -41.39% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 100.80% | 146.56% | -45.76% |
2MU.L vs. 3NVD.L - Expense Ratio Comparison
Both 2MU.L and 3NVD.L have an expense ratio of 0.75%.
Dividends
2MU.L vs. 3NVD.L - Dividend Comparison
Neither 2MU.L nor 3NVD.L has paid dividends to shareholders.
Frequently Asked Questions
2MU.L and 3NVD.L have a correlation of 0.46, 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 3NVD.L have the same expense ratio: 0.75% per year.
2MU.L tracks iSTOXX Leveraged 2X MU Index, while 3NVD.L tracks iSTOXX Leveraged 3X NVDA Index.
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