3GLE.L vs. ETLX.DE
3GLE.L (Leverage Shares 3x Long Gold ETP Securities) and ETLX.DE (L&G Gold Mining UCITS ETF) are both exchange-traded funds - 3GLE.L is a Leveraged Commodities fund actively managed by Leverage Shares, while ETLX.DE is a Precious Metals fund tracking the DAXglobal® Gold Miners. 3GLE.L is actively managed, while ETLX.DE is passively managed. Over the past 3 years, 3GLE.L returned 65.12%/yr vs 50.63%/yr for ETLX.DE. A 0.72 correlation means they provide meaningful diversification when combined. 3GLE.L charges 0.75%/yr vs 0.65%/yr for ETLX.DE.
Performance
3GLE.L vs. ETLX.DE - Performance Comparison
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Different Trading Currencies
3GLE.L is traded in USD, while ETLX.DE is traded in EUR. To make them comparable, the ETLX.DE values have been converted to USD using the latest available exchange rates.
Returns By Period
In the year-to-date period, 3GLE.L achieves a -9.71% return, which is significantly lower than ETLX.DE's -3.42% return.
3GLE.L
- 1D
- 1.46%
- 1M
- -8.07%
- YTD
- -9.71%
- 6M
- -6.67%
- 1Y
- 52.94%
- 3Y*
- 65.12%
- 5Y*
- —
- 10Y*
- —
ETLX.DE
- 1D
- 0.69%
- 1M
- -1.47%
- YTD
- -3.42%
- 6M
- 5.19%
- 1Y
- 63.96%
- 3Y*
- 50.63%
- 5Y*
- 22.27%
- 10Y*
- 15.58%
3GLE.L vs. ETLX.DE - 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% |
ETLX.DE L&G Gold Mining UCITS ETF | -3.42% | 185.11% | 20.12% | 14.56% | -3.89% |
Correlation
The correlation between 3GLE.L and ETLX.DE is 0.77, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.77 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.73 |
Correlation (All Time) Calculated using the full available price history since Jun 14, 2022 | 0.72 |
The correlation between 3GLE.L and ETLX.DE has been stable across timeframes, ranging from 0.72 to 0.77 - a consistent structural relationship.
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Return for Risk
3GLE.L vs. ETLX.DE — Risk / Return Rank
3GLE.L
ETLX.DE
3GLE.L vs. ETLX.DE - 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 L&G Gold Mining UCITS ETF (ETLX.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.
| 3GLE.L | ETLX.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.66 | ||
| Sortino ratioReturn per unit of downside risk | -0.55 | ||
| Omega ratioGain probability vs. loss probability | 1.19 | 1.23 | -0.04 |
| Calmar ratioReturn relative to maximum drawdown | 1.05 | 2.10 | -1.05 |
| Martin ratioReturn relative to average drawdown | 2.35 | 5.25 | -2.91 |
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
| 3GLE.L | ETLX.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.68 | 1.34 | -0.66 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | 0.57 | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.43 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.85 | 0.18 | +0.67 |
Drawdowns
3GLE.L vs. ETLX.DE - Drawdown Comparison
The maximum 3GLE.L drawdown since its inception was -50.37%, smaller than the maximum ETLX.DE drawdown of -77.98%. Use the drawdown chart below to compare losses from any high point for 3GLE.L and ETLX.DE.
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Drawdown Indicators
| 3GLE.L | ETLX.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -50.37% | -77.98% | +27.61% |
Max Drawdown (1Y)Largest decline over 1 year | -50.37% | -30.37% | -20.00% |
Max Drawdown (3Y)Largest decline over 3 years | -50.37% | -30.37% | -20.00% |
Max Drawdown (5Y)Largest decline over 5 years | — | -48.82% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -54.56% | — |
Current DrawdownCurrent decline from peak | -49.24% | -26.01% | -23.23% |
Average DrawdownAverage peak-to-trough decline | -13.03% | -41.58% | +28.55% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 22.50% | 12.14% | +10.36% |
Volatility
3GLE.L vs. ETLX.DE - Volatility Comparison
Leverage Shares 3x Long Gold ETP Securities (3GLE.L) has a higher volatility of 18.35% compared to L&G Gold Mining UCITS ETF (ETLX.DE) at 14.66%. This indicates that 3GLE.L's price experiences larger fluctuations and is considered to be riskier than ETLX.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| 3GLE.L | ETLX.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 18.35% | 14.66% | +3.69% |
Volatility (6M)Calculated over the trailing 6-month period | 66.26% | 36.58% | +29.68% |
Volatility (1Y)Calculated over the trailing 1-year period | 77.12% | 47.47% | +29.65% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 53.66% | 38.41% | +15.25% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 53.66% | 35.80% | +17.86% |
3GLE.L vs. ETLX.DE - Expense Ratio Comparison
3GLE.L has a 0.75% expense ratio, which is higher than ETLX.DE's 0.65% expense ratio.
Dividends
3GLE.L vs. ETLX.DE - Dividend Comparison
Neither 3GLE.L nor ETLX.DE has paid dividends to shareholders.
Frequently Asked Questions
3GLE.L and ETLX.DE have a correlation of 0.77, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, ETLX.DE is cheaper at 0.65% per year. The better choice depends on whether you care most about return, fees, risk, or income.
ETLX.DE is cheaper with a 0.65% expense ratio, compared with 0.75% for 3GLE.L.
3GLE.L is categorized as Leveraged Commodities, while ETLX.DE is Precious Metals. They also come from different issuers: Leverage Shares and Legal & General. Their fees differ too: 0.75% for 3GLE.L and 0.65% for ETLX.DE.
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