3BAL.L vs. 3AAP.L
3BAL.L (WisdomTree EURO STOXX Banks 3x Daily Leveraged) and 3AAP.L (Leverage Shares 3x Apple ETP Securities GBP) are both Leveraged Equities funds - 3BAL.L tracks the EURO STOXX Banks Daily Leverage 3 EUR Net Return Index while 3AAP.L tracks the iSTOXX Leveraged 3X AAPL Index. Both are passively managed. Over the past 5 years, 3BAL.L returned 59.71%/yr vs 24.14%/yr for 3AAP.L. At a 0.18 correlation, their price movements are largely independent. 3BAL.L charges 0.89%/yr vs 0.75%/yr for 3AAP.L.
Performance
3BAL.L vs. 3AAP.L - Performance Comparison
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Returns By Period
In the year-to-date period, 3BAL.L achieves a -1.51% return, which is significantly lower than 3AAP.L's 29.86% return.
3BAL.L
- 1D
- -4.27%
- 1M
- 14.54%
- YTD
- -1.51%
- 6M
- 16.46%
- 1Y
- 116.19%
- 3Y*
- 133.01%
- 5Y*
- 59.71%
- 10Y*
- —
3AAP.L
- 1D
- -0.98%
- 1M
- 34.96%
- YTD
- 29.86%
- 6M
- 16.84%
- 1Y
- 162.50%
- 3Y*
- 16.18%
- 5Y*
- 24.14%
- 10Y*
- —
3BAL.L vs. 3AAP.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
3BAL.L WisdomTree EURO STOXX Banks 3x Daily Leveraged | -1.51% | 433.07% | 68.07% | 63.85% | -24.90% | 108.27% | 14.99% |
3AAP.L Leverage Shares 3x Apple ETP Securities GBP | 29.86% | -28.23% | 70.02% | 151.70% | -73.70% | 95.43% | 218.42% |
Correlation
The correlation between 3BAL.L and 3AAP.L is 0.23, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.23 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.17 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.22 |
Correlation (All Time) Calculated using the full available price history since Jun 5, 2020 | 0.18 |
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Return for Risk
3BAL.L vs. 3AAP.L — Risk / Return Rank
3BAL.L
3AAP.L
3BAL.L vs. 3AAP.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 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.
| 3BAL.L | 3AAP.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.02 | ||
| Sortino ratioReturn per unit of downside risk | -0.53 | ||
| Omega ratioGain probability vs. loss probability | 1.26 | 1.36 | -0.10 |
| Calmar ratioReturn relative to maximum drawdown | 2.44 | 3.64 | -1.20 |
| Martin ratioReturn relative to average drawdown | 6.62 | 7.15 | -0.53 |
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
| 3BAL.L | 3AAP.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.61 | 1.64 | -0.02 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.80 | 0.28 | +0.52 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.09 | 0.41 | -0.32 |
Drawdowns
3BAL.L vs. 3AAP.L - Drawdown Comparison
The maximum 3BAL.L drawdown since its inception was -97.78%, which is greater than 3AAP.L's maximum drawdown of -75.66%. Use the drawdown chart below to compare losses from any high point for 3BAL.L and 3AAP.L.
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Drawdown Indicators
| 3BAL.L | 3AAP.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -97.78% | -75.66% | -22.12% |
Max Drawdown (1Y)Largest decline over 1 year | -45.44% | -44.36% | -1.08% |
Max Drawdown (3Y)Largest decline over 3 years | -50.31% | -73.42% | +23.11% |
Max Drawdown (5Y)Largest decline over 5 years | -77.94% | -75.66% | -2.28% |
Current DrawdownCurrent decline from peak | -18.68% | -9.32% | -9.36% |
Average DrawdownAverage peak-to-trough decline | -66.25% | -34.84% | -31.41% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 16.77% | 22.63% | -5.86% |
Volatility
3BAL.L vs. 3AAP.L - Volatility Comparison
WisdomTree EURO STOXX Banks 3x Daily Leveraged (3BAL.L) has a higher volatility of 18.85% compared to Leverage Shares 3x Apple ETP Securities GBP (3AAP.L) at 15.65%. This indicates that 3BAL.L's price experiences larger fluctuations and is considered to be riskier than 3AAP.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 | 3AAP.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 18.85% | 15.65% | +3.20% |
Volatility (6M)Calculated over the trailing 6-month period | 54.46% | 49.09% | +5.37% |
Volatility (1Y)Calculated over the trailing 1-year period | 68.79% | 98.77% | -29.98% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 74.94% | 86.95% | -12.01% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 82.85% | 88.95% | -6.10% |
3BAL.L vs. 3AAP.L - Expense Ratio Comparison
3BAL.L has a 0.89% expense ratio, which is higher than 3AAP.L's 0.75% expense ratio.
Dividends
3BAL.L vs. 3AAP.L - Dividend Comparison
Neither 3BAL.L nor 3AAP.L has paid dividends to shareholders.
Frequently Asked Questions
3BAL.L and 3AAP.L have a correlation of 0.23, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, 3AAP.L is cheaper at 0.75% per year. The better choice depends on whether you care most about return, fees, risk, or income.
3AAP.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 3AAP.L tracks iSTOXX Leveraged 3X AAPL Index. They also come from different issuers: WisdomTree and Leverage Shares. Their fees differ too: 0.89% for 3BAL.L and 0.75% for 3AAP.L.
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