3BAL.L vs. 2NFL.L
3BAL.L (WisdomTree EURO STOXX Banks 3x Daily Leveraged) and 2NFL.L (Leverage Shares 2x Netflix ETC A GBP) are both Leveraged Equities funds - 3BAL.L tracks the EURO STOXX Banks Daily Leverage 3 EUR Net Return Index while 2NFL.L tracks the NYSE Leveraged 2x NFLX Index. Both are passively managed. Over the past 5 years, 3BAL.L returned 70.85%/yr vs -13.72%/yr for 2NFL.L. At a 0.13 correlation, their price movements are largely independent. 3BAL.L charges 0.89%/yr vs 0.75%/yr for 2NFL.L.
Performance
3BAL.L vs. 2NFL.L - Performance Comparison
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Returns By Period
In the year-to-date period, 3BAL.L achieves a 25.66% return, which is significantly higher than 2NFL.L's -45.34% return.
3BAL.L
- 1D
- 1.86%
- 1M
- 23.42%
- YTD
- 25.66%
- 6M
- 27.44%
- 1Y
- 182.60%
- 3Y*
- 155.31%
- 5Y*
- 70.85%
- 10Y*
- 21.97%
2NFL.L
- 1D
- -0.94%
- 1M
- -31.78%
- YTD
- -45.34%
- 6M
- -45.06%
- 1Y
- -73.63%
- 3Y*
- 17.43%
- 5Y*
- -13.72%
- 10Y*
- —
3BAL.L vs. 2NFL.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
3BAL.L WisdomTree EURO STOXX Banks 3x Daily Leveraged | 25.66% | 433.07% | 68.07% | 63.85% | -24.90% | 108.27% | -79.89% | 25.77% | -70.96% | -2.77% |
2NFL.L Leverage Shares 2x Netflix ETC A GBP | -45.34% | -20.02% | 192.97% | 115.23% | -87.10% | 23.08% | 51.99% | 69.18% | 10.76% | 5.90% |
Correlation
The correlation between 3BAL.L and 2NFL.L is 0.02, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.02 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.07 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.16 |
Correlation (All Time) Calculated using the full available price history since Dec 8, 2017 | 0.13 |
The correlation between 3BAL.L and 2NFL.L shifts across timeframes, from 0.02 (1 year) to 0.16 (5 years), reflecting how their relationship changes across market environments.
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Return for Risk
3BAL.L vs. 2NFL.L — Risk / Return Rank
3BAL.L
2NFL.L
3BAL.L vs. 2NFL.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for WisdomTree EURO STOXX Banks 3x Daily Leveraged (3BAL.L) and Leverage Shares 2x Netflix ETC A GBP (2NFL.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.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| 3BAL.L | 2NFL.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +3.78 | ||
| Sortino ratioReturn per unit of downside risk | +5.06 | ||
| Omega ratioGain probability vs. loss probability | 1.35 | 0.72 | +0.63 |
| Calmar ratioReturn relative to maximum drawdown | 3.99 | -0.98 | +4.97 |
| Martin ratioReturn relative to average drawdown | 10.72 | -1.55 | +12.27 |
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Drawdowns
3BAL.L vs. 2NFL.L - Drawdown Comparison
The maximum 3BAL.L drawdown since its inception was -99.29%, roughly equal to the maximum 2NFL.L drawdown of -95.91%. Use the drawdown chart below to compare losses from any high point for 3BAL.L and 2NFL.L.
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Drawdown Indicators
| 3BAL.L | 2NFL.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -99.29% | -95.91% | -3.38% |
Max Drawdown (1Y)Largest decline over 1 year | -45.44% | -74.98% | +29.54% |
Max Drawdown (3Y)Largest decline over 3 years | -50.31% | -74.98% | +24.67% |
Max Drawdown (5Y)Largest decline over 5 years | -77.94% | -95.91% | +17.97% |
Max Drawdown (10Y)Largest decline over 10 years | -97.78% | — | — |
Current DrawdownCurrent decline from peak | -47.44% | -74.98% | +27.54% |
Average DrawdownAverage peak-to-trough decline | -82.00% | -51.60% | -30.40% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 16.96% | 47.46% | -30.50% |
Volatility
3BAL.L vs. 2NFL.L - Volatility Comparison
WisdomTree EURO STOXX Banks 3x Daily Leveraged (3BAL.L) has a higher volatility of 18.61% compared to Leverage Shares 2x Netflix ETC A GBP (2NFL.L) at 15.34%. This indicates that 3BAL.L's price experiences larger fluctuations and is considered to be riskier than 2NFL.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| 3BAL.L | 2NFL.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 18.61% | 15.34% | +3.27% |
Volatility (6M)Calculated over the trailing 6-month period | 55.75% | 51.72% | +4.03% |
Volatility (1Y)Calculated over the trailing 1-year period | 68.87% | 64.51% | +4.36% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 75.08% | 92.27% | -17.19% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 82.99% | 87.68% | -4.69% |
3BAL.L vs. 2NFL.L - Expense Ratio Comparison
3BAL.L has a 0.89% expense ratio, which is higher than 2NFL.L's 0.75% expense ratio.
Dividends
3BAL.L vs. 2NFL.L - Dividend Comparison
Neither 3BAL.L nor 2NFL.L has paid dividends to shareholders.
Frequently Asked Questions
3BAL.L and 2NFL.L have a correlation of 0.02, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, 2NFL.L is cheaper at 0.75% per year. The better choice depends on whether you care most about return, fees, risk, or income.
2NFL.L is cheaper with a 0.75% expense ratio, compared with 0.89% for 3BAL.L.
3BAL.L tracks EURO STOXX Banks Daily Leverage 3 EUR Net Return Index, while 2NFL.L tracks NYSE Leveraged 2x NFLX Index. They also come from different issuers: WisdomTree and Leverage Shares. Their fees differ too: 0.89% for 3BAL.L and 0.75% for 2NFL.L.
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