3BAL.L vs. XS2D.L
3BAL.L (WisdomTree EURO STOXX Banks 3x Daily Leveraged) and XS2D.L (Xtrackers S&P 500 2x Leveraged Daily Swap UCITS ETF 1C) are both Leveraged Equities funds - 3BAL.L tracks the EURO STOXX Banks Daily Leverage 3 EUR Net Return Index while XS2D.L tracks the S&P 500 2x Leveraged Daily Index. Both are passively managed. Over the past 5 years, 3BAL.L returned 59.87%/yr vs 21.70%/yr for XS2D.L. At a 0.46 correlation, their price movements are largely independent. 3BAL.L charges 0.89%/yr vs 0.60%/yr for XS2D.L.
Performance
3BAL.L vs. XS2D.L - Performance Comparison
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Different Trading Currencies
3BAL.L is traded in GBp, while XS2D.L is traded in USD. To make them comparable, the XS2D.L 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 2.88% return, which is significantly lower than XS2D.L's 19.08% return.
3BAL.L
- 1D
- 2.25%
- 1M
- 14.53%
- YTD
- 2.88%
- 6M
- 25.89%
- 1Y
- 120.86%
- 3Y*
- 136.42%
- 5Y*
- 59.87%
- 10Y*
- —
XS2D.L
- 1D
- -0.85%
- 1M
- 9.89%
- YTD
- 19.08%
- 6M
- 19.26%
- 1Y
- 55.83%
- 3Y*
- 35.20%
- 5Y*
- 21.70%
- 10Y*
- 25.49%
3BAL.L vs. XS2D.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
3BAL.L WisdomTree EURO STOXX Banks 3x Daily Leveraged | 2.88% | 433.07% | 68.07% | 63.85% | -24.90% | 108.27% | -79.89% | 25.77% | -70.96% | 16.34% |
XS2D.L Xtrackers S&P 500 2x Leveraged Daily Swap UCITS ETF 1C | 19.08% | 17.56% | 48.20% | 41.43% | -31.85% | 64.57% | 17.41% | 56.67% | -10.94% | 17.37% |
Correlation
The correlation between 3BAL.L and XS2D.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 | 0.42 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.45 |
Correlation (All Time) Calculated using the full available price history since Mar 16, 2017 | 0.46 |
The correlation between 3BAL.L and XS2D.L shifts across timeframes, from 0.42 (3 years) to 0.54 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
3BAL.L vs. XS2D.L — Risk / Return Rank
3BAL.L
XS2D.L
3BAL.L vs. XS2D.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 Xtrackers S&P 500 2x Leveraged Daily Swap UCITS ETF 1C (XS2D.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 | XS2D.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.72 | ||
| Sortino ratioReturn per unit of downside risk | -0.92 | ||
| Omega ratioGain probability vs. loss probability | 1.27 | 1.42 | -0.15 |
| Calmar ratioReturn relative to maximum drawdown | 2.61 | 3.52 | -0.91 |
| Martin ratioReturn relative to average drawdown | 7.11 | 13.27 | -6.16 |
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 | XS2D.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.73 | 2.45 | -0.72 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.80 | 0.72 | +0.08 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.81 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.10 | 0.86 | -0.76 |
Drawdowns
3BAL.L vs. XS2D.L - Drawdown Comparison
The maximum 3BAL.L drawdown since its inception was -97.78%, which is greater than XS2D.L's maximum drawdown of -54.44%. Use the drawdown chart below to compare losses from any high point for 3BAL.L and XS2D.L.
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Drawdown Indicators
| 3BAL.L | XS2D.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -97.78% | -54.44% | -43.34% |
Max Drawdown (1Y)Largest decline over 1 year | -45.44% | -15.77% | -29.67% |
Max Drawdown (3Y)Largest decline over 3 years | -50.31% | -36.46% | -13.85% |
Max Drawdown (5Y)Largest decline over 5 years | -77.94% | -37.20% | -40.74% |
Max Drawdown (10Y)Largest decline over 10 years | — | -54.44% | — |
Current DrawdownCurrent decline from peak | -15.06% | -0.85% | -14.21% |
Average DrawdownAverage peak-to-trough decline | -66.27% | -8.14% | -58.13% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 16.72% | 4.20% | +12.52% |
Volatility
3BAL.L vs. XS2D.L - Volatility Comparison
WisdomTree EURO STOXX Banks 3x Daily Leveraged (3BAL.L) has a higher volatility of 18.17% compared to Xtrackers S&P 500 2x Leveraged Daily Swap UCITS ETF 1C (XS2D.L) at 6.40%. This indicates that 3BAL.L's price experiences larger fluctuations and is considered to be riskier than XS2D.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 | XS2D.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 18.17% | 6.40% | +11.77% |
Volatility (6M)Calculated over the trailing 6-month period | 54.27% | 16.35% | +37.92% |
Volatility (1Y)Calculated over the trailing 1-year period | 68.63% | 22.81% | +45.82% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 74.92% | 30.08% | +44.84% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 82.86% | 31.29% | +51.57% |
3BAL.L vs. XS2D.L - Expense Ratio Comparison
3BAL.L has a 0.89% expense ratio, which is higher than XS2D.L's 0.60% expense ratio.
Dividends
3BAL.L vs. XS2D.L - Dividend Comparison
Neither 3BAL.L nor XS2D.L has paid dividends to shareholders.
Frequently Asked Questions
3BAL.L and XS2D.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, XS2D.L is cheaper at 0.60% per year. The better choice depends on whether you care most about return, fees, risk, or income.
XS2D.L is cheaper with a 0.60% expense ratio, compared with 0.89% for 3BAL.L.
3BAL.L tracks EURO STOXX Banks Daily Leverage 3 EUR Net Return Index, while XS2D.L tracks S&P 500 2x Leveraged Daily Index. They also come from different issuers: WisdomTree and Xtrackers. Their fees differ too: 0.89% for 3BAL.L and 0.60% for XS2D.L.
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