3BAL.L vs. QLD

Last updated Apr 1, 2026

Compare and contrast key facts about WisdomTree EURO STOXX Banks 3x Daily Leveraged (3BAL.L) and ProShares Ultra QQQ (QLD).

3BAL.L and QLD are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. 3BAL.L is a passively managed fund by WisdomTree that tracks the performance of the EURO STOXX Banks Daily Leverage 3 EUR Net Return Index. It was launched on Dec 8, 2014. QLD is a passively managed fund by ProShares that tracks the performance of the NASDAQ-100 Index (200%). It was launched on Jun 21, 2006. Both 3BAL.L and QLD are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.

Performance

3BAL.L vs. QLD - Performance Comparison

The chart below illustrates the hypothetical performance of a £10,000 investment in WisdomTree EURO STOXX Banks 3x Daily Leveraged (3BAL.L) and ProShares Ultra QQQ (QLD). The values are adjusted to include any dividend payments, if applicable.

3BAL.L vs. QLD - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
3BAL.L WisdomTree EURO STOXX Banks 3x Daily Leveraged	-33.05%	433.07%	68.07%	63.85%	-24.90%	108.27%	-79.89%	25.77%	-70.96%	16.34%
QLD ProShares Ultra QQQ	-11.70%	21.07%	45.31%	106.84%	-55.83%	56.13%	83.35%	74.78%	-2.87%	25.30%

Different Trading Currencies

3BAL.L is traded in GBp, while QLD is traded in USD. To make them comparable, the QLD values have been converted to GBp using the latest available exchange rates.

Returns By Period

In the year-to-date period, 3BAL.L achieves a -33.05% return, which is significantly lower than QLD's -17.18% return.

3BAL.L

• 1D: -0.60%
• 1M: -34.98%
• YTD: -33.05%
• 6M: -5.97%
• 1Y: 79.73%
• 3Y*: 109.03%
• 5Y*: 59.14%
• 10Y*: —

QLD

• 1D: 0.00%
• 1M: -14.18%
• YTD: -17.18%
• 6M: -15.13%
• 1Y: 26.02%
• 3Y*: 29.51%
• 5Y*: 14.83%
• 10Y*: 29.52%

*Multi-year figures are annualized to reflect compound growth (CAGR)

3BAL.L vs. QLD - Expense Ratio Comparison

3BAL.L has a 0.89% expense ratio, which is lower than QLD's 0.95% expense ratio.

QLD

ProShares Ultra QQQ

3BAL.L

WisdomTree EURO STOXX Banks 3x Daily Leveraged

Return for Risk

3BAL.L vs. QLD — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

3BAL.L

3BAL.L Risk / Return Rank: 58
3BAL.L Sharpe Ratio Rank: 53
3BAL.L Sortino Ratio Rank: 59
3BAL.L Omega Ratio Rank: 54
3BAL.L Calmar Ratio Rank: 70
3BAL.L Martin Ratio Rank: 56

QLD

QLD Risk / Return Rank: 57
QLD Sharpe Ratio Rank: 51
QLD Sortino Ratio Rank: 59
QLD Omega Ratio Rank: 58
QLD Calmar Ratio Rank: 63
QLD Martin Ratio Rank: 55

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

3BAL.L vs. QLD - 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 ProShares Ultra QQQ (QLD). 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	QLD	Difference
Sharpe ratio Return per unit of total volatility	0.93	0.59	+0.34
Sortino ratio Return per unit of downside risk	1.50	1.12	+0.38
Omega ratio Gain probability vs. loss probability	1.20	1.16	+0.04
Calmar ratio Return relative to maximum drawdown	1.75	1.03	+0.72
Martin ratio Return relative to average drawdown	5.34	3.07	+2.27
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

3BAL.L vs. QLD - Sharpe Ratio Comparison

The current 3BAL.L Sharpe Ratio is 0.93, which is higher than the QLD Sharpe Ratio of 0.59. The chart below compares the historical Sharpe Ratios of 3BAL.L and QLD, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	3BAL.L	QLD	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.93	0.59	+0.34
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.80	0.35	+0.45
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.68	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.04	0.59	-0.55

Correlation

The correlation between 3BAL.L and QLD is 0.19, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.

Dividends

3BAL.L vs. QLD - Dividend Comparison

3BAL.L has not paid dividends to shareholders, while QLD's dividend yield for the trailing twelve months is around 0.19%.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
3BAL.L WisdomTree EURO STOXX Banks 3x Daily Leveraged	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
QLD ProShares Ultra QQQ	0.19%	0.17%	0.25%	0.33%	0.31%	0.00%	0.00%	0.13%	0.06%	0.02%	0.21%	0.11%

Drawdowns

3BAL.L vs. QLD - Drawdown Comparison

The maximum 3BAL.L drawdown since its inception was -97.78%, which is greater than QLD's maximum drawdown of -74.89%. Use the drawdown chart below to compare losses from any high point for 3BAL.L and QLD.

Drawdown Indicators

	3BAL.L	QLD	Difference
Max Drawdown Largest peak-to-trough decline	-97.78%	-83.13%	-14.65%
Max Drawdown (1Y) Largest decline over 1 year	-45.44%	-25.13%	-20.31%
Max Drawdown (5Y) Largest decline over 5 years	-77.94%	-63.68%	-14.26%
Max Drawdown (10Y) Largest decline over 10 years	—	-63.68%	—
Current Drawdown Current decline from peak	-44.72%	-20.10%	-24.62%
Average Drawdown Average peak-to-trough decline	-67.05%	-18.30%	-48.75%
Ulcer Index Depth and duration of drawdowns from previous peaks	14.94%	7.67%	+7.27%

Volatility

3BAL.L vs. QLD - Volatility Comparison

WisdomTree EURO STOXX Banks 3x Daily Leveraged (3BAL.L) has a higher volatility of 29.98% compared to ProShares Ultra QQQ (QLD) at 9.61%. This indicates that 3BAL.L's price experiences larger fluctuations and is considered to be riskier than QLD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	3BAL.L	QLD	Difference
Volatility (1M) Calculated over the trailing 1-month period	29.98%	9.61%	+20.37%
Volatility (6M) Calculated over the trailing 6-month period	49.34%	23.98%	+25.36%
Volatility (1Y) Calculated over the trailing 1-year period	74.86%	44.11%	+30.75%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	74.24%	42.62%	+31.62%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	82.86%	43.41%	+39.45%