3APE.L vs. 3AAP.L
3APE.L (Leverage Shares 3x Apple ETC EUR) and 3AAP.L (Leverage Shares 3x Apple ETP Securities GBP) are both Leveraged Equities funds from Leverage Shares tracking the iSTOXX Leveraged 3X AAPL Index. Both are passively managed. Over the past 5 years, 3APE.L returned 24.88%/yr vs 23.97%/yr for 3AAP.L. Their correlation of 0.89 suggests significant overlap in exposure. Both charge a 0.75% expense ratio.
Performance
3APE.L vs. 3AAP.L - Performance Comparison
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Different Trading Currencies
3APE.L is traded in EUR, while 3AAP.L is traded in GBp. To make them comparable, the 3AAP.L values have been converted to EUR using the latest available exchange rates.
Returns By Period
The year-to-date returns for both stocks are quite close, with 3APE.L having a 31.29% return and 3AAP.L slightly lower at 31.02%.
3APE.L
- 1D
- -1.27%
- 1M
- 34.25%
- YTD
- 31.29%
- 6M
- 18.06%
- 1Y
- 155.84%
- 3Y*
- 16.10%
- 5Y*
- 24.88%
- 10Y*
- —
3AAP.L
- 1D
- -1.07%
- 1M
- 34.71%
- YTD
- 31.02%
- 6M
- 18.02%
- 1Y
- 155.64%
- 3Y*
- 16.01%
- 5Y*
- 23.97%
- 10Y*
- —
3APE.L vs. 3AAP.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
3APE.L Leverage Shares 3x Apple ETC EUR | 31.29% | -31.84% | 78.10% | 157.67% | -74.17% | 96.79% | 77.55% |
3AAP.L Leverage Shares 3x Apple ETP Securities GBP | 31.02% | -31.98% | 78.22% | 157.03% | -75.09% | 108.44% | 74.74% |
Correlation
The correlation between 3APE.L and 3AAP.L is 0.96 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.96 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.98 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.94 |
Correlation (All Time) Calculated using the full available price history since Aug 3, 2020 | 0.89 |
The correlation between 3APE.L and 3AAP.L has been stable across timeframes, ranging from 0.89 to 0.98 - a consistent structural relationship.
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Return for Risk
3APE.L vs. 3AAP.L — Risk / Return Rank
3APE.L
3AAP.L
3APE.L vs. 3AAP.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Leverage Shares 3x Apple ETC EUR (3APE.L) and Leverage Shares 3x Apple ETP Securities GBP (3AAP.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.
| 3APE.L | 3AAP.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.69 | ||
| Sortino ratioReturn per unit of downside risk | +0.18 | ||
| Omega ratioGain probability vs. loss probability | 1.33 | 1.35 | -0.02 |
| Calmar ratioReturn relative to maximum drawdown | 3.75 | 3.49 | +0.26 |
| Martin ratioReturn relative to average drawdown | 8.56 | 6.86 | +1.69 |
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
| 3APE.L | 3AAP.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.26 | 1.57 | +0.69 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.32 | 0.27 | +0.05 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.31 | 0.42 | -0.11 |
Drawdowns
3APE.L vs. 3AAP.L - Drawdown Comparison
The maximum 3APE.L drawdown since its inception was -76.86%, roughly equal to the maximum 3AAP.L drawdown of -76.83%. Use the drawdown chart below to compare losses from any high point for 3APE.L and 3AAP.L.
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Drawdown Indicators
| 3APE.L | 3AAP.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -76.86% | -76.83% | -0.03% |
Max Drawdown (1Y)Largest decline over 1 year | -41.29% | -44.31% | +3.02% |
Max Drawdown (3Y)Largest decline over 3 years | -73.89% | -74.34% | +0.45% |
Max Drawdown (5Y)Largest decline over 5 years | -76.86% | -76.83% | -0.03% |
Current DrawdownCurrent decline from peak | -13.02% | -13.15% | +0.13% |
Average DrawdownAverage peak-to-trough decline | -36.83% | -35.72% | -1.11% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 18.13% | 22.58% | -4.45% |
Volatility
3APE.L vs. 3AAP.L - Volatility Comparison
Leverage Shares 3x Apple ETC EUR (3APE.L) and Leverage Shares 3x Apple ETP Securities GBP (3AAP.L) have volatilities of 15.15% and 15.27%, 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
| 3APE.L | 3AAP.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 15.15% | 15.27% | -0.12% |
Volatility (6M)Calculated over the trailing 6-month period | 49.36% | 48.85% | +0.51% |
Volatility (1Y)Calculated over the trailing 1-year period | 68.52% | 98.69% | -30.17% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 79.99% | 87.46% | -7.47% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 84.29% | 89.40% | -5.11% |
3APE.L vs. 3AAP.L - Expense Ratio Comparison
Both 3APE.L and 3AAP.L have an expense ratio of 0.75%.
Dividends
3APE.L vs. 3AAP.L - Dividend Comparison
Neither 3APE.L nor 3AAP.L has paid dividends to shareholders.
Frequently Asked Questions
With a correlation of 0.96, 3APE.L and 3AAP.L move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.
Both ETFs have the same 0.75% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.
3APE.L and 3AAP.L have the same expense ratio: 0.75% per year.
Both ETFs track iSTOXX Leveraged 3X AAPL Index.
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