3BAL.L vs. LUK2.L
3BAL.L (WisdomTree EURO STOXX Banks 3x Daily Leveraged) and LUK2.L (L&G FTSE 100 Leveraged (Daily 2x) UCITS ETF GBP (Acc)) are both Leveraged Equities funds - 3BAL.L tracks the EURO STOXX Banks Daily Leverage 3 EUR Net Return Index while LUK2.L tracks the FTSE 100 Daily Leveraged Index. Both are passively managed. Over the past 10 years, 3BAL.L returned 18.00%/yr vs 10.51%/yr for LUK2.L. A 0.58 correlation means they provide meaningful diversification when combined. 3BAL.L charges 0.89%/yr vs 0.50%/yr for LUK2.L.
Performance
3BAL.L vs. LUK2.L - Performance Comparison
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Returns By Period
In the year-to-date period, 3BAL.L achieves a 25.99% return, which is significantly higher than LUK2.L's 12.85% return. Over the past 10 years, 3BAL.L has outperformed LUK2.L with an annualized return of 18.00%, while LUK2.L has yielded a comparatively lower 10.51% annualized return.
3BAL.L
- 1D
- -4.44%
- 1M
- -2.06%
- 6M
- 16.39%
- YTD
- 25.99%
- 1Y
- 159.56%
- 3Y*
- 137.08%
- 5Y*
- 79.57%
- 10Y*
- 18.00%
LUK2.L
- 1D
- 0.67%
- 1M
- 1.34%
- 6M
- 6.53%
- YTD
- 12.85%
- 1Y
- 36.06%
- 3Y*
- 24.04%
- 5Y*
- 17.31%
- 10Y*
- 10.51%
3BAL.L vs. LUK2.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
3BAL.L WisdomTree EURO STOXX Banks 3x Daily Leveraged | 25.99% | 433.07% | 68.07% | 63.85% | -24.90% | 108.27% | -79.89% | 25.77% | -70.96% | 15.80% |
LUK2.L L&G FTSE 100 Leveraged (Daily 2x) UCITS ETF GBP (Acc) | 12.85% | 43.73% | 9.81% | 6.59% | 3.75% | 34.76% | -30.43% | 32.52% | -20.70% | 22.28% |
Correlation
The correlation between 3BAL.L and LUK2.L is 0.54, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.54 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.55 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.58 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.55 |
Correlation (All Time) Calculated using the full available price history since Dec 8, 2014 | 0.58 |
The correlation between 3BAL.L and LUK2.L has been stable across timeframes, ranging from 0.54 to 0.58 - a consistent structural relationship.
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Return for Risk
3BAL.L vs. LUK2.L — Risk / Return Rank
3BAL.L
LUK2.L
3BAL.L vs. LUK2.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 L&G FTSE 100 Leveraged (Daily 2x) UCITS ETF GBP (Acc) (LUK2.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 | LUK2.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.72 | ||
| Sortino ratioReturn per unit of downside risk | +0.50 | ||
| Omega ratioGain probability vs. loss probability | 1.33 | 1.29 | +0.04 |
| Calmar ratioReturn relative to maximum drawdown | 3.49 | 1.94 | +1.56 |
| Martin ratioReturn relative to average drawdown | 9.38 | 5.67 | +3.72 |
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Drawdowns
3BAL.L vs. LUK2.L - Drawdown Comparison
The maximum 3BAL.L drawdown since its inception was -99.29%, which is greater than LUK2.L's maximum drawdown of -58.84%. Use the drawdown chart below to compare losses from any high point for 3BAL.L and LUK2.L.
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Drawdown Indicators
| 3BAL.L | LUK2.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -99.29% | -58.84% | -40.45% |
Max Drawdown (1Y)Largest decline over 1 year | -45.44% | -18.55% | -26.89% |
Max Drawdown (3Y)Largest decline over 3 years | -50.31% | -25.42% | -24.89% |
Max Drawdown (5Y)Largest decline over 5 years | -77.94% | -25.42% | -52.52% |
Max Drawdown (10Y)Largest decline over 10 years | -97.78% | -58.84% | -38.94% |
Current DrawdownCurrent decline from peak | -47.30% | -6.16% | -41.14% |
Average DrawdownAverage peak-to-trough decline | -81.80% | -10.67% | -71.13% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 16.93% | 6.34% | +10.59% |
Volatility
3BAL.L vs. LUK2.L - Volatility Comparison
WisdomTree EURO STOXX Banks 3x Daily Leveraged (3BAL.L) has a higher volatility of 16.99% compared to L&G FTSE 100 Leveraged (Daily 2x) UCITS ETF GBP (Acc) (LUK2.L) at 5.83%. This indicates that 3BAL.L's price experiences larger fluctuations and is considered to be riskier than LUK2.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 | LUK2.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 16.99% | 5.83% | +11.16% |
Volatility (6M)Calculated over the trailing 6-month period | 57.11% | 19.66% | +37.45% |
Volatility (1Y)Calculated over the trailing 1-year period | 68.89% | 22.62% | +46.27% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 74.78% | 25.60% | +49.18% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 82.40% | 29.65% | +52.75% |
3BAL.L vs. LUK2.L - Expense Ratio Comparison
3BAL.L has a 0.89% expense ratio, which is higher than LUK2.L's 0.50% expense ratio.
Dividends
3BAL.L vs. LUK2.L - Dividend Comparison
Neither 3BAL.L nor LUK2.L has paid dividends to shareholders.
Frequently Asked Questions
3BAL.L and LUK2.L have a correlation of 0.54, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, LUK2.L is cheaper at 0.50% per year. The better choice depends on whether you care most about return, fees, risk, or income.
LUK2.L is cheaper with a 0.50% expense ratio, compared with 0.89% for 3BAL.L.
3BAL.L tracks EURO STOXX Banks Daily Leverage 3 EUR Net Return Index, while LUK2.L tracks FTSE 100 Daily Leveraged Index. They also come from different issuers: WisdomTree and L&G. Their fees differ too: 0.89% for 3BAL.L and 0.50% for LUK2.L.
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