3BP.L vs. 3MST.L
3BP.L (Leverage Shares 3x BP ETP GBX) and 3MST.L (Leverage Shares 3x Long MicroStrategy ETP) are both Leveraged Equities funds from Leverage Shares - 3BP.L tracks the iSTOXX Leveraged 3x BP Index while 3MST.L tracks the Euronext 3x Long MicroStrategy Index. Both are passively managed. Over the past year, 3BP.L returned 159.59% vs -99.26% for 3MST.L. At a 0.00 correlation, their price movements are largely independent. Both charge a 0.75% expense ratio.
Performance
3BP.L vs. 3MST.L - Performance Comparison
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Different Trading Currencies
3BP.L is traded in GBp, while 3MST.L is traded in USD. To make them comparable, the 3MST.L values have been converted to GBp using the latest available exchange rates.
Returns By Period
In the year-to-date period, 3BP.L achieves a 78.14% return, which is significantly higher than 3MST.L's -76.53% return.
3BP.L
- 1D
- 5.77%
- 1M
- -15.38%
- YTD
- 78.14%
- 6M
- 41.48%
- 1Y
- 159.59%
- 3Y*
- -2.25%
- 5Y*
- 5.24%
- 10Y*
- —
3MST.L
- 1D
- -6.39%
- 1M
- -63.21%
- YTD
- -76.53%
- 6M
- -86.81%
- 1Y
- -99.26%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
3BP.L vs. 3MST.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
3BP.L Leverage Shares 3x BP ETP GBX | 78.14% | 16.83% | -11.87% |
3MST.L Leverage Shares 3x Long MicroStrategy ETP | -76.53% | -98.53% | 183.29% |
Correlation
The correlation between 3BP.L and 3MST.L is -0.10, 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 | -0.10 |
Correlation (All Time) Calculated using the full available price history since Sep 27, 2024 | 0.00 |
The correlation between 3BP.L and 3MST.L shifts across timeframes, from -0.10 (1 year) to 0.00 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
3BP.L vs. 3MST.L — Risk / Return Rank
3BP.L
3MST.L
3BP.L vs. 3MST.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Leverage Shares 3x BP ETP GBX (3BP.L) and Leverage Shares 3x Long MicroStrategy ETP (3MST.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.
| 3BP.L | 3MST.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +2.37 | ||
| Sortino ratioReturn per unit of downside risk | +4.26 | ||
| Omega ratioGain probability vs. loss probability | 1.30 | 0.78 | +0.52 |
| Calmar ratioReturn relative to maximum drawdown | 4.00 | -1.00 | +5.00 |
| Martin ratioReturn relative to average drawdown | 11.11 | -1.21 | +12.33 |
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
| 3BP.L | 3MST.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.87 | -0.50 | +2.37 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.06 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.07 | -0.40 | +0.46 |
Drawdowns
3BP.L vs. 3MST.L - Drawdown Comparison
The maximum 3BP.L drawdown since its inception was -85.47%, smaller than the maximum 3MST.L drawdown of -99.94%. Use the drawdown chart below to compare losses from any high point for 3BP.L and 3MST.L.
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Drawdown Indicators
| 3BP.L | 3MST.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -85.47% | -99.94% | +14.47% |
Max Drawdown (1Y)Largest decline over 1 year | -39.67% | -99.49% | +59.82% |
Max Drawdown (3Y)Largest decline over 3 years | -82.48% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -85.47% | — | — |
Current DrawdownCurrent decline from peak | -46.05% | -99.94% | +53.89% |
Average DrawdownAverage peak-to-trough decline | -43.64% | -85.48% | +41.84% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 14.30% | 82.08% | -67.78% |
Volatility
3BP.L vs. 3MST.L - Volatility Comparison
The current volatility for Leverage Shares 3x BP ETP GBX (3BP.L) is 29.32%, while Leverage Shares 3x Long MicroStrategy ETP (3MST.L) has a volatility of 65.07%. This indicates that 3BP.L experiences smaller price fluctuations and is considered to be less risky than 3MST.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| 3BP.L | 3MST.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 29.32% | 65.07% | -35.75% |
Volatility (6M)Calculated over the trailing 6-month period | 74.08% | 165.11% | -91.03% |
Volatility (1Y)Calculated over the trailing 1-year period | 84.95% | 198.96% | -114.01% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 89.78% | 236.11% | -146.33% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 90.23% | 236.11% | -145.88% |
3BP.L vs. 3MST.L - Expense Ratio Comparison
Both 3BP.L and 3MST.L have an expense ratio of 0.75%.
Dividends
3BP.L vs. 3MST.L - Dividend Comparison
Neither 3BP.L nor 3MST.L has paid dividends to shareholders.
Frequently Asked Questions
3BP.L and 3MST.L have a correlation of -0.10, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
Both ETFs have the same 0.75% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.
3BP.L and 3MST.L have the same expense ratio: 0.75% per year.
3BP.L tracks iSTOXX Leveraged 3x BP Index, while 3MST.L tracks Euronext 3x Long MicroStrategy Index.
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