3GLE.L vs. BTC-USD

Last updated Jun 5, 2026

3GLE.L (Leverage Shares 3x Long Gold ETP Securities) is Leveraged Commodities fund actively managed by Leverage Shares, while BTC-USD (Bitcoin) is a cryptocurrency. Over the past 3 years, 3GLE.L returned 65.12%/yr vs 35.01%/yr for BTC-USD. At a 0.08 correlation, their price movements are largely independent.

Performance

3GLE.L vs. BTC-USD - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Leverage Shares 3x Long Gold ETP Securities (3GLE.L) and Bitcoin (BTC-USD). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, 3GLE.L achieves a -9.71% return, which is significantly higher than BTC-USD's -27.60% return.

3GLE.L

• 1D: 1.46%
• 1M: -8.07%
• YTD: -9.71%
• 6M: -6.67%
• 1Y: 52.94%
• 3Y*: 65.12%
• 5Y*: —
• 10Y*: —

BTC-USD

• 1D: -1.08%
• 1M: -21.71%
• YTD: -27.60%
• 6M: -31.22%
• 1Y: -39.53%
• 3Y*: 35.01%
• 5Y*: 12.25%
• 10Y*: 59.71%

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

3GLE.L vs. BTC-USD - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
3GLE.L Leverage Shares 3x Long Gold ETP Securities	-9.71%	188.93%	67.78%	16.46%	-12.50%
BTC-USD Bitcoin	-27.60%	-6.27%	120.76%	155.82%	-26.40%

Correlation

The correlation between 3GLE.L and BTC-USD is 0.13, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.13
Correlation (3Y) Calculated over the trailing 3-year period	0.06
Correlation (All Time) Calculated using the full available price history since Jun 14, 2022	0.08

Return for Risk

3GLE.L vs. BTC-USD — Risk / Return Rank

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

3GLE.L

3GLE.L Risk / Return Rank: 24
3GLE.L Sharpe Ratio Rank: 21
3GLE.L Sortino Ratio Rank: 24
3GLE.L Omega Ratio Rank: 29
3GLE.L Calmar Ratio Rank: 23
3GLE.L Martin Ratio Rank: 21

BTC-USD

BTC-USD Risk / Return Rank: 30
BTC-USD Sharpe Ratio Rank: 16
BTC-USD Sortino Ratio Rank: 34
BTC-USD Omega Ratio Rank: 32
BTC-USD Calmar Ratio Rank: 48
BTC-USD Martin Ratio Rank: 21

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.

3GLE.L vs. BTC-USD - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Leverage Shares 3x Long Gold ETP Securities (3GLE.L) and Bitcoin (BTC-USD). 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.

	3GLE.L	BTC-USD	Difference
Sharpe ratio: Return per unit of total volatility	0.68	-0.92	+1.61
Sortino ratio: Return per unit of downside risk	1.28	-1.29	+2.57
Omega ratio: Gain probability vs. loss probability	1.19	0.87	+0.33
Calmar ratio: Return relative to maximum drawdown	1.05	-0.80	+1.84
Martin ratio: Return relative to average drawdown	2.35	-1.39	+3.74
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

3GLE.L vs. BTC-USD - Sharpe Ratio Comparison

The current 3GLE.L Sharpe Ratio is 0.68, which is higher than the BTC-USD Sharpe Ratio of -0.92. The chart below compares the historical Sharpe Ratios of 3GLE.L and BTC-USD, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	3GLE.L	BTC-USD	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.68	-0.92	+1.61
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.23	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.88	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.85	1.13	-0.28

Drawdowns

3GLE.L vs. BTC-USD - Drawdown Comparison

The maximum 3GLE.L drawdown since its inception was -50.37%, smaller than the maximum BTC-USD drawdown of -85.30%. Use the drawdown chart below to compare losses from any high point for 3GLE.L and BTC-USD.

Drawdown Indicators

	3GLE.L	BTC-USD	Difference
Max Drawdown Largest peak-to-trough decline	-50.37%	-85.30%	+34.93%
Max Drawdown (1Y) Largest decline over 1 year	-50.37%	-49.65%	-0.72%
Max Drawdown (3Y) Largest decline over 3 years	-50.37%	-49.65%	-0.72%
Max Drawdown (5Y) Largest decline over 5 years	—	-76.67%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-83.80%	—
Current Drawdown Current decline from peak	-49.24%	-49.21%	-0.03%
Average Drawdown Average peak-to-trough decline	-13.03%	-42.28%	+29.25%
Ulcer Index Depth and duration of drawdowns from previous peaks	22.50%	33.87%	-11.37%

Volatility

3GLE.L vs. BTC-USD - Volatility Comparison

Leverage Shares 3x Long Gold ETP Securities (3GLE.L) has a higher volatility of 18.35% compared to Bitcoin (BTC-USD) at 10.14%. This indicates that 3GLE.L's price experiences larger fluctuations and is considered to be riskier than BTC-USD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	3GLE.L	BTC-USD	Difference
Volatility (1M) Calculated over the trailing 1-month period	18.35%	10.14%	+8.21%
Volatility (6M) Calculated over the trailing 6-month period	66.26%	34.17%	+32.09%
Volatility (1Y) Calculated over the trailing 1-year period	77.12%	35.51%	+41.61%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	53.66%	44.98%	+8.68%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	53.66%	56.69%	-3.03%

Frequently Asked Questions

Can I hold both 3GLE.L and BTC-USD in my portfolio?

3GLE.L and BTC-USD have a correlation of 0.13, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.