3CON.L vs. XS2D.L

Last updated Jun 4, 2026

3CON.L (Leverage Shares 3x Long Coinbase (COIN) ETP Securities GBP) and XS2D.L (Xtrackers S&P 500 2x Leveraged Daily Swap UCITS ETF 1C) are both Leveraged Equities funds - 3CON.L tracks the iSTOXX Leveraged 3x COIN Index while XS2D.L tracks the S&P 500 2x Leveraged Daily Index. Both are passively managed. At a 0.42 correlation, their price movements are largely independent. 3CON.L charges 0.75%/yr vs 0.60%/yr for XS2D.L.

Performance

3CON.L vs. XS2D.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 Xtrackers S&P 500 2x Leveraged Daily Swap UCITS ETF 1C (XS2D.L). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

3CON.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, 3CON.L achieves a -83.52% return, which is significantly lower than XS2D.L's 19.08% return.

3CON.L

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

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

3CON.L vs. XS2D.L - Yearly Performance Comparison

	2026 (YTD)	2025
3CON.L Leverage Shares 3x Long Coinbase (COIN) ETP Securities GBP	-83.52%	-22.24%
XS2D.L Xtrackers S&P 500 2x Leveraged Daily Swap UCITS ETF 1C	19.08%	2.32%

Correlation

The correlation between 3CON.L and XS2D.L is 0.42, 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	0.42

3CON.L vs. XS2D.L - Sectors Allocation Comparison

Sectors	3CON.L	XS2D.L
Financial Services	100.0%	4.1%
Basic Materials	-	-
Communication Services	-	14.0%
Consumer Cyclical	-	0.7%
Consumer Defensive	-	0.6%
Energy	-	-
Healthcare	-	11.8%
Industrials	-	9.3%
Real Estate	-	12.9%
Technology	-	46.5%
Utilities	-	-

Return for Risk

3CON.L vs. XS2D.L — Risk / Return Rank

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

XS2D.L

XS2D.L Risk / Return Rank: 69
XS2D.L Sharpe Ratio Rank: 72
XS2D.L Sortino Ratio Rank: 70
XS2D.L Omega Ratio Rank: 65
XS2D.L Calmar Ratio Rank: 66
XS2D.L Martin Ratio Rank: 73

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. XS2D.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 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.

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	XS2D.L	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	2.45	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.72	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.81	—
Sharpe Ratio (All Time) Calculated using the full available price history	-0.48	0.86	-1.34

Drawdowns

3CON.L vs. XS2D.L - Drawdown Comparison

The maximum 3CON.L drawdown since its inception was -91.35%, 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 3CON.L and XS2D.L.

Drawdown Indicators

	3CON.L	XS2D.L	Difference
Max Drawdown Largest peak-to-trough decline	-91.35%	-54.44%	-36.91%
Max Drawdown (1Y) Largest decline over 1 year	—	-15.77%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-36.46%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-37.20%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-54.44%	—
Current Drawdown Current decline from peak	-91.35%	-0.85%	-90.50%
Average Drawdown Average peak-to-trough decline	-66.75%	-8.14%	-58.61%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	4.20%	—

Volatility

Volatility by Period

	3CON.L	XS2D.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	6.40%	—
Volatility (6M) Calculated over the trailing 6-month period	—	16.35%	—
Volatility (1Y) Calculated over the trailing 1-year period	205.18%	22.81%	+182.37%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	205.18%	30.08%	+175.10%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	205.18%	31.29%	+173.89%

3CON.L vs. XS2D.L - Expense Ratio Comparison

3CON.L has a 0.75% expense ratio, which is higher than XS2D.L's 0.60% expense ratio.

Dividends

3CON.L vs. XS2D.L - Dividend Comparison

Neither 3CON.L nor XS2D.L has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both 3CON.L and XS2D.L in my portfolio?

3CON.L and XS2D.L have a correlation of 0.42, 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 XS2D.L?

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.

Which ETF is cheaper, 3CON.L or XS2D.L?

XS2D.L is cheaper with a 0.60% expense ratio, compared with 0.75% for 3CON.L.

What is the main difference between 3CON.L and XS2D.L?

3CON.L tracks iSTOXX Leveraged 3x COIN Index, while XS2D.L tracks S&P 500 2x Leveraged Daily Index. They also come from different issuers: Leverage Shares and Xtrackers. Their fees differ too: 0.75% for 3CON.L and 0.60% for XS2D.L.