3CON.L vs. 3SPY.L

Last updated Jun 4, 2026

3CON.L (Leverage Shares 3x Long Coinbase (COIN) ETP Securities GBP) and 3SPY.L (Leverage Shares 3x Long US 500 ETP Securities) are both Leveraged Equities funds from Leverage Shares. 3CON.L is passively managed, while 3SPY.L is actively managed. At a 0.38 correlation, their price movements are largely independent. 3CON.L charges 0.75%/yr vs 0.01%/yr for 3SPY.L.

Performance

3CON.L vs. 3SPY.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 Long US 500 ETP Securities (3SPY.L). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

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

Returns By Period

In the year-to-date period, 3CON.L achieves a -83.52% return, which is significantly lower than 3SPY.L's 24.80% return.

3CON.L

• 1D: -9.89%
• 1M: -43.03%
• YTD: -83.52%
• 6M: -90.55%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

3SPY.L

• 1D: -0.79%
• 1M: 15.24%
• YTD: 24.80%
• 6M: 23.61%
• 1Y: 74.64%
• 3Y*: 38.65%
• 5Y*: —
• 10Y*: —

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

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

	2026 (YTD)	2025
3CON.L Leverage Shares 3x Long Coinbase (COIN) ETP Securities GBP	-83.52%	-22.24%
3SPY.L Leverage Shares 3x Long US 500 ETP Securities	24.80%	1.45%

Correlation

The correlation between 3CON.L and 3SPY.L is 0.38, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (All Time) Calculated using the full available price history since Nov 26, 2025	0.38

Return for Risk

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

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

3SPY.L

3SPY.L Risk / Return Rank: 41
3SPY.L Sharpe Ratio Rank: 37
3SPY.L Sortino Ratio Rank: 44
3SPY.L Omega Ratio Rank: 61
3SPY.L Calmar Ratio Rank: 36
3SPY.L Martin Ratio Rank: 27

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. 3SPY.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 Long US 500 ETP Securities (3SPY.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.

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

Sharpe Ratios by Period

	3CON.L	3SPY.L	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	1.36	—
Sharpe Ratio (All Time) Calculated using the full available price history	-0.48	0.36	-0.84

Drawdowns

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

The maximum 3CON.L drawdown since its inception was -91.35%, which is greater than 3SPY.L's maximum drawdown of -58.02%. Use the drawdown chart below to compare losses from any high point for 3CON.L and 3SPY.L.

Drawdown Indicators

	3CON.L	3SPY.L	Difference
Max Drawdown Largest peak-to-trough decline	-91.35%	-58.02%	-33.33%
Max Drawdown (1Y) Largest decline over 1 year	—	-41.04%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-58.02%	—
Current Drawdown Current decline from peak	-91.35%	-7.88%	-83.47%
Average Drawdown Average peak-to-trough decline	-66.75%	-20.57%	-46.18%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	20.60%	—

Volatility

Volatility by Period

	3CON.L	3SPY.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	8.84%	—
Volatility (6M) Calculated over the trailing 6-month period	—	23.28%	—
Volatility (1Y) Calculated over the trailing 1-year period	205.18%	54.71%	+150.47%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	205.18%	51.40%	+153.78%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	205.18%	51.40%	+153.78%

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

3CON.L has a 0.75% expense ratio, which is higher than 3SPY.L's 0.01% expense ratio.

Dividends

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

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

Tickers have no history of dividend payments

Frequently Asked Questions

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

3CON.L and 3SPY.L have a correlation of 0.38, 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 3SPY.L?

On fees, 3SPY.L is cheaper at 0.01% per year. The better choice depends on whether you care most about return, fees, risk, or income.

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

3SPY.L is cheaper with a 0.01% expense ratio, compared with 0.75% for 3CON.L.

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

Their fees differ too: 0.75% for 3CON.L and 0.01% for 3SPY.L.