3APE.L vs. MRN3.L
3APE.L (Leverage Shares 3x Apple ETC EUR) and MRN3.L (Leverage Shares 3x Long Moderna (MRNA) ETP Securities) are both Leveraged Equities funds from Leverage Shares - 3APE.L tracks the iSTOXX Leveraged 3X AAPL Index while MRN3.L tracks the iSTOXX Leveraged 3x MRNA Index. Both are passively managed. Over the past 3 years, 3APE.L returned 16.10%/yr vs -91.52%/yr for MRN3.L. At a 0.14 correlation, their price movements are largely independent. Both charge a 0.75% expense ratio.
Performance
3APE.L vs. MRN3.L - Performance Comparison
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Different Trading Currencies
3APE.L is traded in EUR, while MRN3.L is traded in USD. To make them comparable, the MRN3.L values have been converted to EUR using the latest available exchange rates.
Returns By Period
In the year-to-date period, 3APE.L achieves a 31.29% return, which is significantly lower than MRN3.L's 159.82% return.
3APE.L
- 1D
- -1.27%
- 1M
- 34.25%
- YTD
- 31.29%
- 6M
- 18.06%
- 1Y
- 155.84%
- 3Y*
- 16.10%
- 5Y*
- 24.88%
- 10Y*
- —
MRN3.L
- 1D
- 25.87%
- 1M
- 22.14%
- YTD
- 159.82%
- 6M
- 288.43%
- 1Y
- 61.74%
- 3Y*
- -91.52%
- 5Y*
- —
- 10Y*
- —
3APE.L vs. MRN3.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
3APE.L Leverage Shares 3x Apple ETC EUR | 31.29% | -31.84% | 78.10% | 157.67% | -74.17% | 5.98% |
MRN3.L Leverage Shares 3x Long Moderna (MRNA) ETP Securities | 159.82% | -94.42% | -98.41% | -93.04% | -91.69% | -36.86% |
Correlation
The correlation between 3APE.L and MRN3.L is 0.14, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.14 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.14 |
Correlation (All Time) Calculated using the full available price history since Dec 16, 2021 | 0.14 |
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Return for Risk
3APE.L vs. MRN3.L — Risk / Return Rank
3APE.L
MRN3.L
3APE.L vs. MRN3.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 Long Moderna (MRNA) ETP Securities (MRN3.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 | MRN3.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.97 | ||
| Sortino ratioReturn per unit of downside risk | +0.77 | ||
| Omega ratioGain probability vs. loss probability | 1.33 | 1.24 | +0.10 |
| Calmar ratioReturn relative to maximum drawdown | 3.75 | 0.76 | +2.99 |
| Martin ratioReturn relative to average drawdown | 8.56 | 1.20 | +7.36 |
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 | MRN3.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.26 | 0.29 | +1.97 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.32 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.31 | -0.43 | +0.75 |
Drawdowns
3APE.L vs. MRN3.L - Drawdown Comparison
The maximum 3APE.L drawdown since its inception was -76.86%, smaller than the maximum MRN3.L drawdown of -100.00%. Use the drawdown chart below to compare losses from any high point for 3APE.L and MRN3.L.
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Drawdown Indicators
| 3APE.L | MRN3.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -76.86% | -100.00% | +23.14% |
Max Drawdown (1Y)Largest decline over 1 year | -41.29% | -80.86% | +39.57% |
Max Drawdown (3Y)Largest decline over 3 years | -73.89% | -99.99% | +26.10% |
Max Drawdown (5Y)Largest decline over 5 years | -76.86% | — | — |
Current DrawdownCurrent decline from peak | -13.02% | -100.00% | +86.98% |
Average DrawdownAverage peak-to-trough decline | -36.83% | -97.56% | +60.73% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 18.13% | 51.32% | -33.19% |
Volatility
3APE.L vs. MRN3.L - Volatility Comparison
The current volatility for Leverage Shares 3x Apple ETC EUR (3APE.L) is 15.15%, while Leverage Shares 3x Long Moderna (MRNA) ETP Securities (MRN3.L) has a volatility of 57.05%. This indicates that 3APE.L experiences smaller price fluctuations and is considered to be less risky than MRN3.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| 3APE.L | MRN3.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 15.15% | 57.05% | -41.90% |
Volatility (6M)Calculated over the trailing 6-month period | 49.36% | 162.31% | -112.95% |
Volatility (1Y)Calculated over the trailing 1-year period | 68.52% | 210.03% | -141.51% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 79.99% | 220.29% | -140.30% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 84.29% | 220.29% | -136.00% |
3APE.L vs. MRN3.L - Expense Ratio Comparison
Both 3APE.L and MRN3.L have an expense ratio of 0.75%.
Dividends
3APE.L vs. MRN3.L - Dividend Comparison
Neither 3APE.L nor MRN3.L has paid dividends to shareholders.
Frequently Asked Questions
3APE.L and MRN3.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.
3APE.L and MRN3.L have the same expense ratio: 0.75% per year.
3APE.L tracks iSTOXX Leveraged 3X AAPL Index, while MRN3.L tracks iSTOXX Leveraged 3x MRNA Index.
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