3BAL.L vs. 3BP.L
3BAL.L (WisdomTree EURO STOXX Banks 3x Daily Leveraged) and 3BP.L (Leverage Shares 3x BP ETP GBX) are both Leveraged Equities funds - 3BAL.L tracks the EURO STOXX Banks Daily Leverage 3 EUR Net Return Index while 3BP.L tracks the iSTOXX Leveraged 3x BP Index. Both are passively managed. Over the past 5 years, 3BAL.L returned 59.71%/yr vs 4.91%/yr for 3BP.L. At a 0.21 correlation, their price movements are largely independent. 3BAL.L charges 0.89%/yr vs 0.75%/yr for 3BP.L.
Performance
3BAL.L vs. 3BP.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 3BP.L's 75.30% 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*
- —
3BP.L
- 1D
- -1.59%
- 1M
- -16.33%
- YTD
- 75.30%
- 6M
- 37.46%
- 1Y
- 168.94%
- 3Y*
- -2.25%
- 5Y*
- 4.91%
- 10Y*
- —
3BAL.L vs. 3BP.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
3BAL.L WisdomTree EURO STOXX Banks 3x Daily Leveraged | -1.51% | 433.07% | 68.07% | 63.85% | -24.90% | 24.67% |
3BP.L Leverage Shares 3x BP ETP GBX | 75.30% | 16.83% | -49.99% | -15.24% | 58.02% | -4.62% |
Correlation
The correlation between 3BAL.L and 3BP.L is -0.22, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.22 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.13 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.21 |
Correlation (All Time) Calculated using the full available price history since Mar 19, 2021 | 0.21 |
The correlation between 3BAL.L and 3BP.L shifts across timeframes, from -0.22 (1 year) to 0.21 (5 years), reflecting how their relationship changes across market environments.
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Return for Risk
3BAL.L vs. 3BP.L — Risk / Return Rank
3BAL.L
3BP.L
3BAL.L vs. 3BP.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 BP ETP GBX (3BP.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 | 3BP.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.37 | ||
| Sortino ratioReturn per unit of downside risk | -0.10 | ||
| Omega ratioGain probability vs. loss probability | 1.26 | 1.31 | -0.05 |
| Calmar ratioReturn relative to maximum drawdown | 2.44 | 4.23 | -1.79 |
| Martin ratioReturn relative to average drawdown | 6.62 | 11.67 | -5.05 |
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 | 3BP.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.61 | 1.98 | -0.37 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.80 | 0.06 | +0.74 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.09 | 0.06 | +0.03 |
Drawdowns
3BAL.L vs. 3BP.L - Drawdown Comparison
The maximum 3BAL.L drawdown since its inception was -97.78%, which is greater than 3BP.L's maximum drawdown of -85.47%. Use the drawdown chart below to compare losses from any high point for 3BAL.L and 3BP.L.
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Drawdown Indicators
| 3BAL.L | 3BP.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -97.78% | -85.47% | -12.31% |
Max Drawdown (1Y)Largest decline over 1 year | -45.44% | -39.67% | -5.77% |
Max Drawdown (3Y)Largest decline over 3 years | -50.31% | -82.48% | +32.17% |
Max Drawdown (5Y)Largest decline over 5 years | -77.94% | -85.47% | +7.53% |
Current DrawdownCurrent decline from peak | -18.68% | -46.91% | +28.23% |
Average DrawdownAverage peak-to-trough decline | -66.25% | -43.64% | -22.61% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 16.77% | 14.42% | +2.35% |
Volatility
3BAL.L vs. 3BP.L - Volatility Comparison
The current volatility for WisdomTree EURO STOXX Banks 3x Daily Leveraged (3BAL.L) is 18.85%, while Leverage Shares 3x BP ETP GBX (3BP.L) has a volatility of 29.33%. This indicates that 3BAL.L experiences smaller price fluctuations and is considered to be less risky than 3BP.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 | 3BP.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 18.85% | 29.33% | -10.48% |
Volatility (6M)Calculated over the trailing 6-month period | 54.46% | 74.08% | -19.62% |
Volatility (1Y)Calculated over the trailing 1-year period | 68.79% | 84.97% | -16.18% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 74.94% | 89.78% | -14.84% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 82.85% | 90.19% | -7.34% |
3BAL.L vs. 3BP.L - Expense Ratio Comparison
3BAL.L has a 0.89% expense ratio, which is higher than 3BP.L's 0.75% expense ratio.
Dividends
3BAL.L vs. 3BP.L - Dividend Comparison
Neither 3BAL.L nor 3BP.L has paid dividends to shareholders.
Frequently Asked Questions
3BAL.L and 3BP.L have a correlation of -0.22, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, 3BP.L is cheaper at 0.75% per year. The better choice depends on whether you care most about return, fees, risk, or income.
3BP.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 3BP.L tracks iSTOXX Leveraged 3x BP Index. They also come from different issuers: WisdomTree and Leverage Shares. Their fees differ too: 0.89% for 3BAL.L and 0.75% for 3BP.L.
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