3AAP.L vs. 2GOO.L
3AAP.L (Leverage Shares 3x Apple ETP Securities GBP) and 2GOO.L (Leverage Shares 2x Alphabet ETC A GBP) are both Leveraged Equities funds from Leverage Shares - 3AAP.L tracks the iSTOXX Leveraged 3X AAPL Index while 2GOO.L tracks the NYSE Leveraged 2x GOOG Index. Both are passively managed. Over the past 5 years, 3AAP.L returned 24.14%/yr vs 34.18%/yr for 2GOO.L. At a 0.45 correlation, their price movements are largely independent. Both charge a 0.75% expense ratio.
Performance
3AAP.L vs. 2GOO.L - Performance Comparison
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Returns By Period
In the year-to-date period, 3AAP.L achieves a 29.86% return, which is significantly higher than 2GOO.L's 28.19% return.
3AAP.L
- 1D
- -0.98%
- 1M
- 34.96%
- YTD
- 29.86%
- 6M
- 16.84%
- 1Y
- 162.50%
- 3Y*
- 16.18%
- 5Y*
- 24.14%
- 10Y*
- —
2GOO.L
- 1D
- 6.74%
- 1M
- -9.16%
- YTD
- 28.19%
- 6M
- 23.76%
- 1Y
- 309.66%
- 3Y*
- 66.60%
- 5Y*
- 34.18%
- 10Y*
- —
3AAP.L vs. 2GOO.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
3AAP.L Leverage Shares 3x Apple ETP Securities GBP | 29.86% | -28.23% | 70.02% | 151.70% | -73.70% | 95.43% | 218.42% |
2GOO.L Leverage Shares 2x Alphabet ETC A GBP | 28.19% | 100.64% | 64.47% | 106.54% | -66.92% | 166.13% | 31.17% |
Correlation
The correlation between 3AAP.L and 2GOO.L is 0.12, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.12 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.31 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.45 |
Correlation (All Time) Calculated using the full available price history since Jun 5, 2020 | 0.45 |
Over the past year, the correlation between 3AAP.L and 2GOO.L has dropped to 0.12 - well below their long-term average of 0.45, suggesting their price drivers have been diverging.
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Return for Risk
3AAP.L vs. 2GOO.L — Risk / Return Rank
3AAP.L
2GOO.L
3AAP.L vs. 2GOO.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Leverage Shares 3x Apple ETP Securities GBP (3AAP.L) and Leverage Shares 2x Alphabet ETC A GBP (2GOO.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.
| 3AAP.L | 2GOO.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -3.94 | ||
| Sortino ratioReturn per unit of downside risk | -2.54 | ||
| Omega ratioGain probability vs. loss probability | 1.36 | 1.61 | -0.25 |
| Calmar ratioReturn relative to maximum drawdown | 3.64 | 8.61 | -4.97 |
| Martin ratioReturn relative to average drawdown | 7.15 | 28.76 | -21.61 |
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
| 3AAP.L | 2GOO.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.64 | 5.57 | -3.94 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.28 | 0.59 | -0.31 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.41 | 0.85 | -0.43 |
Drawdowns
3AAP.L vs. 2GOO.L - Drawdown Comparison
The maximum 3AAP.L drawdown since its inception was -75.66%, which is greater than 2GOO.L's maximum drawdown of -69.73%. Use the drawdown chart below to compare losses from any high point for 3AAP.L and 2GOO.L.
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Drawdown Indicators
| 3AAP.L | 2GOO.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -75.66% | -69.73% | -5.93% |
Max Drawdown (1Y)Largest decline over 1 year | -44.36% | -35.69% | -8.67% |
Max Drawdown (3Y)Largest decline over 3 years | -73.42% | -53.24% | -20.18% |
Max Drawdown (5Y)Largest decline over 5 years | -75.66% | -69.73% | -5.93% |
Current DrawdownCurrent decline from peak | -9.32% | -15.61% | +6.29% |
Average DrawdownAverage peak-to-trough decline | -34.84% | -24.97% | -9.87% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 22.63% | 10.71% | +11.92% |
Volatility
3AAP.L vs. 2GOO.L - Volatility Comparison
Leverage Shares 3x Apple ETP Securities GBP (3AAP.L) and Leverage Shares 2x Alphabet ETC A GBP (2GOO.L) have volatilities of 15.65% and 15.17%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| 3AAP.L | 2GOO.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 15.65% | 15.17% | +0.48% |
Volatility (6M)Calculated over the trailing 6-month period | 49.09% | 35.51% | +13.58% |
Volatility (1Y)Calculated over the trailing 1-year period | 98.77% | 55.17% | +43.60% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 86.95% | 59.11% | +27.84% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 88.95% | 61.82% | +27.13% |
3AAP.L vs. 2GOO.L - Expense Ratio Comparison
Both 3AAP.L and 2GOO.L have an expense ratio of 0.75%.
Dividends
3AAP.L vs. 2GOO.L - Dividend Comparison
Neither 3AAP.L nor 2GOO.L has paid dividends to shareholders.
Frequently Asked Questions
3AAP.L and 2GOO.L have a correlation of 0.12, 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.
3AAP.L and 2GOO.L have the same expense ratio: 0.75% per year.
3AAP.L tracks iSTOXX Leveraged 3X AAPL Index, while 2GOO.L tracks NYSE Leveraged 2x GOOG Index.
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