3DAX.DE vs. ONVD.DE
3DAX.DE (Leverage Shares 3x Long Germany 40 ETP Securities) and ONVD.DE (IncomeShares NVIDIA (NVDA) Options ETP) are both exchange-traded funds - 3DAX.DE is a Leveraged Equities fund actively managed by Leverage Shares, while ONVD.DE is a Derivative Income fund actively managed by Leverage Shares. Both are actively managed. Over the past year, 3DAX.DE returned -14.63% vs -3.02% for ONVD.DE. At a 0.36 correlation, their price movements are largely independent. 3DAX.DE charges 0.75%/yr vs 0.55%/yr for ONVD.DE.
Performance
3DAX.DE vs. ONVD.DE - Performance Comparison
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Returns By Period
In the year-to-date period, 3DAX.DE achieves a -5.90% return, which is significantly higher than ONVD.DE's -11.51% return.
3DAX.DE
- 1D
- 1.36%
- 1M
- -2.44%
- YTD
- -5.90%
- 6M
- -1.37%
- 1Y
- -14.63%
- 3Y*
- 23.51%
- 5Y*
- —
- 10Y*
- —
ONVD.DE
- 1D
- 0.70%
- 1M
- -0.24%
- YTD
- -11.51%
- 6M
- -10.25%
- 1Y
- -3.02%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
3DAX.DE vs. ONVD.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
3DAX.DE Leverage Shares 3x Long Germany 40 ETP Securities | -5.90% | 42.11% | 8.92% |
ONVD.DE IncomeShares NVIDIA (NVDA) Options ETP | -11.51% | -22.38% | 0.81% |
Correlation
The correlation between 3DAX.DE and ONVD.DE is 0.36, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.36 |
Correlation (All Time) Calculated using the full available price history since Nov 18, 2024 | 0.36 |
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Return for Risk
3DAX.DE vs. ONVD.DE — Risk / Return Rank
3DAX.DE
ONVD.DE
3DAX.DE vs. ONVD.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Leverage Shares 3x Long Germany 40 ETP Securities (3DAX.DE) and IncomeShares NVIDIA (NVDA) Options ETP (ONVD.DE). 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.
| 3DAX.DE | ONVD.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.22 | ||
| Sortino ratioReturn per unit of downside risk | -0.28 | ||
| Omega ratioGain probability vs. loss probability | 0.99 | 1.02 | -0.03 |
| Calmar ratioReturn relative to maximum drawdown | -0.39 | -0.08 | -0.30 |
| Martin ratioReturn relative to average drawdown | -0.95 | -0.14 | -0.81 |
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
| 3DAX.DE | ONVD.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.29 | -0.07 | -0.22 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.70 | -0.46 | +1.16 |
Drawdowns
3DAX.DE vs. ONVD.DE - Drawdown Comparison
The maximum 3DAX.DE drawdown since its inception was -42.58%, roughly equal to the maximum ONVD.DE drawdown of -44.31%. Use the drawdown chart below to compare losses from any high point for 3DAX.DE and ONVD.DE.
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Drawdown Indicators
| 3DAX.DE | ONVD.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -42.58% | -44.31% | +1.73% |
Max Drawdown (1Y)Largest decline over 1 year | -35.67% | -32.80% | -2.87% |
Max Drawdown (3Y)Largest decline over 3 years | -42.58% | — | — |
Current DrawdownCurrent decline from peak | -15.47% | -36.19% | +20.72% |
Average DrawdownAverage peak-to-trough decline | -9.33% | -25.54% | +16.21% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 14.56% | 19.86% | -5.30% |
Volatility
3DAX.DE vs. ONVD.DE - Volatility Comparison
Leverage Shares 3x Long Germany 40 ETP Securities (3DAX.DE) has a higher volatility of 15.69% compared to IncomeShares NVIDIA (NVDA) Options ETP (ONVD.DE) at 10.23%. This indicates that 3DAX.DE's price experiences larger fluctuations and is considered to be riskier than ONVD.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| 3DAX.DE | ONVD.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 15.69% | 10.23% | +5.46% |
Volatility (6M)Calculated over the trailing 6-month period | 38.30% | 21.42% | +16.88% |
Volatility (1Y)Calculated over the trailing 1-year period | 47.44% | 38.45% | +8.99% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 46.80% | 46.36% | +0.44% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 46.80% | 46.36% | +0.44% |
3DAX.DE vs. ONVD.DE - Expense Ratio Comparison
3DAX.DE has a 0.75% expense ratio, which is higher than ONVD.DE's 0.55% expense ratio.
Dividends
3DAX.DE vs. ONVD.DE - Dividend Comparison
Neither 3DAX.DE nor ONVD.DE has paid dividends to shareholders.
| Position | TTM | 2025 | 2024 |
|---|---|---|---|
3DAX.DE Leverage Shares 3x Long Germany 40 ETP Securities | 0.00% | 0.00% | 0.00% |
ONVD.DE IncomeShares NVIDIA (NVDA) Options ETP | 0.00% | 3.72% | 6.24% |
Frequently Asked Questions
3DAX.DE and ONVD.DE have a correlation of 0.36, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, ONVD.DE is cheaper at 0.55% per year. The better choice depends on whether you care most about return, fees, risk, or income.
ONVD.DE is cheaper with a 0.55% expense ratio, compared with 0.75% for 3DAX.DE.
3DAX.DE is categorized as Leveraged Equities, while ONVD.DE is Derivative Income. Their fees differ too: 0.75% for 3DAX.DE and 0.55% for ONVD.DE.
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