3CON.L vs. 3NFL.L

Last updated Jun 26, 2026

3CON.L (Leverage Shares 3x Long Coinbase (COIN) ETP Securities GBP) and 3NFL.L (Leverage Shares 3x Netflix ETP Securities GBP) are both Leveraged Equities funds from Leverage Shares - 3CON.L tracks the iSTOXX Leveraged 3x COIN Index while 3NFL.L tracks the iSTOXX Leveraged 3X NFLX Index. Both are passively managed. Over the past 3 years, 3CON.L returned -68.71%/yr vs 335.67%/yr for 3NFL.L. At a 0.35 correlation, their price movements are largely independent. Both charge a 0.75% expense ratio.

Performance

3CON.L vs. 3NFL.L - Performance Comparison

The chart below illustrates the hypothetical performance of a £10,000 investment in Leverage Shares 3x Long Coinbase (COIN) ETP Securities GBP (3CON.L) and Leverage Shares 3x Netflix ETP Securities GBP (3NFL.L). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, 3CON.L achieves a -89.50% return, which is significantly lower than 3NFL.L's -64.12% return.

3CON.L

• 1D: -17.03%
• 1M: -55.59%
• YTD: -89.50%
• 6M: -90.59%
• 1Y: -98.54%
• 3Y*: -68.71%
• 5Y*: —
• 10Y*: —

3NFL.L

• 1D: -1.46%
• 1M: -45.12%
• YTD: -64.12%
• 6M: -64.00%
• 1Y: -89.20%
• 3Y*: 335.67%
• 5Y*: 11.09%
• 10Y*: —

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

3CON.L vs. 3NFL.L - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
3CON.L Leverage Shares 3x Long Coinbase (COIN) ETP Securities GBP	-89.50%	-89.33%	-75.96%	1,063.69%	36.77%	0.37%
3NFL.L Leverage Shares 3x Netflix ETP Securities GBP	-64.12%	-39.94%	323.42%	22,926.07%	-99.45%	4.21%

Correlation

The correlation between 3CON.L and 3NFL.L is 0.17, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.17
Correlation (3Y) Calculated over the trailing 3-year period	0.29
Correlation (All Time) Calculated using the full available price history since Dec 14, 2021	0.35

The correlation between 3CON.L and 3NFL.L shifts across timeframes, from 0.17 (1 year) to 0.35 (all time), reflecting how their relationship changes across market environments.

3CON.L vs. 3NFL.L - Sectors Allocation Comparison

Sectors	3CON.L	3NFL.L
Financial Services	100.0%	-
Basic Materials	-	-
Communication Services	-	100.0%
Consumer Cyclical	-	-
Consumer Defensive	-	-
Energy	-	-
Healthcare	-	-
Industrials	-	-
Real Estate	-	-
Technology	-	-
Utilities	-	-

Return for Risk

3CON.L vs. 3NFL.L — Risk / Return Rank

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

3CON.L

3CON.L Risk / Return Rank: 3
3CON.L Sharpe Ratio Rank: 5
3CON.L Sortino Ratio Rank: 1
3CON.L Omega Ratio Rank: 2
3CON.L Calmar Ratio Rank: 0
3CON.L Martin Ratio Rank: 4

3NFL.L

3NFL.L Risk / Return Rank: 1
3NFL.L Sharpe Ratio Rank: 2
3NFL.L Sortino Ratio Rank: 0
3NFL.L Omega Ratio Rank: 0
3NFL.L Calmar Ratio Rank: 0
3NFL.L Martin Ratio Rank: 2

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.

3CON.L vs. 3NFL.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Leverage Shares 3x Long Coinbase (COIN) ETP Securities GBP (3CON.L) and Leverage Shares 3x Netflix ETP Securities GBP (3NFL.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.

	3CON.L	3NFL.L	Difference
Sharpe ratio: Return per unit of total volatility	-0.50	-0.94	+0.44
Sortino ratio: Return per unit of downside risk	-1.60	-2.29	+0.69
Omega ratio: Gain probability vs. loss probability	0.83	0.71	+0.12
Calmar ratio: Return relative to maximum drawdown	-0.99	-0.99	0.00
Martin ratio: Return relative to average drawdown	-1.19	-1.42	+0.23

3CON.L vs. 3NFL.L - Sharpe Ratio Comparison

The current 3CON.L Sharpe Ratio is -0.50, which is higher than the 3NFL.L Sharpe Ratio of -0.94. The chart below compares the historical Sharpe Ratios of 3CON.L and 3NFL.L, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

3CON.L vs. 3NFL.L - Drawdown Comparison

The maximum 3CON.L drawdown since its inception was -100.00%, roughly equal to the maximum 3NFL.L drawdown of -99.86%. Use the drawdown chart below to compare losses from any high point for 3CON.L and 3NFL.L.

Drawdown Indicators

	3CON.L	3NFL.L	Difference
Max Drawdown Largest peak-to-trough decline	-100.00%	-99.86%	-0.14%
Max Drawdown (1Y) Largest decline over 1 year	-99.17%	-90.07%	-9.10%
Max Drawdown (3Y) Largest decline over 3 years	-99.86%	-90.07%	-9.79%
Max Drawdown (5Y) Largest decline over 5 years	—	-99.85%	—
Current Drawdown Current decline from peak	-99.86%	-90.07%	-9.79%
Average Drawdown Average peak-to-trough decline	-80.07%	-52.34%	-27.73%
Ulcer Index Depth and duration of drawdowns from previous peaks	83.15%	62.81%	+20.34%

Volatility

3CON.L vs. 3NFL.L - Volatility Comparison

Leverage Shares 3x Long Coinbase (COIN) ETP Securities GBP (3CON.L) has a higher volatility of 56.69% compared to Leverage Shares 3x Netflix ETP Securities GBP (3NFL.L) at 23.25%. This indicates that 3CON.L's price experiences larger fluctuations and is considered to be riskier than 3NFL.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	3CON.L	3NFL.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	56.69%	23.25%	+33.44%
Volatility (6M) Calculated over the trailing 6-month period	144.44%	77.97%	+66.47%
Volatility (1Y) Calculated over the trailing 1-year period	198.28%	95.03%	+103.25%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	1,464,072.91%	3,347.55%	+1,460,725.36%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	1,464,072.91%	3,039.15%	+1,461,033.76%

3CON.L vs. 3NFL.L - Expense Ratio Comparison

Both 3CON.L and 3NFL.L have an expense ratio of 0.75%.

Dividends

3CON.L vs. 3NFL.L - Dividend Comparison

Neither 3CON.L nor 3NFL.L has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both 3CON.L and 3NFL.L in my portfolio?

3CON.L and 3NFL.L have a correlation of 0.17, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, 3CON.L or 3NFL.L?

Both ETFs have the same 0.75% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, 3CON.L or 3NFL.L?

3CON.L and 3NFL.L have the same expense ratio: 0.75% per year.

What is the main difference between 3CON.L and 3NFL.L?

3CON.L tracks iSTOXX Leveraged 3x COIN Index, while 3NFL.L tracks iSTOXX Leveraged 3X NFLX Index.