3GLE.L vs. GLD

Last updated Apr 1, 2026

Compare and contrast key facts about Leverage Shares 3x Long Gold ETP Securities (3GLE.L) and SPDR Gold Shares (GLD).

3GLE.L and GLD are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. 3GLE.L is an actively managed fund by Leverage Shares. It was launched on Jun 6, 2022. GLD is a passively managed fund by State Street that tracks the performance of the LBMA Gold Price PM. It was launched on Nov 18, 2004.

Performance

3GLE.L vs. GLD - 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 SPDR Gold Shares (GLD). The values are adjusted to include any dividend payments, if applicable.

3GLE.L vs. GLD - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
3GLE.L Leverage Shares 3x Long Gold ETP Securities	5.32%	188.93%	67.78%	16.46%	-12.50%
GLD SPDR Gold Shares	8.57%	63.68%	26.66%	12.69%	-0.17%

Returns By Period

In the year-to-date period, 3GLE.L achieves a 5.32% return, which is significantly lower than GLD's 8.57% return.

3GLE.L

• 1D: 4.58%
• 1M: -33.25%
• YTD: 5.32%
• 6M: 34.79%
• 1Y: 97.12%
• 3Y*: 70.83%
• 5Y*: —
• 10Y*: —

GLD

• 1D: 3.79%
• 1M: -11.05%
• YTD: 8.57%
• 6M: 21.05%
• 1Y: 49.33%
• 3Y*: 32.92%
• 5Y*: 21.58%
• 10Y*: 13.92%

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

3GLE.L vs. GLD - Expense Ratio Comparison

3GLE.L has a 0.75% expense ratio, which is higher than GLD's 0.40% expense ratio.

3GLE.L

Leverage Shares 3x Long Gold ETP Securities

GLD

SPDR Gold Shares

Return for Risk

3GLE.L vs. GLD — 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: 68
3GLE.L Sharpe Ratio Rank: 68
3GLE.L Sortino Ratio Rank: 68
3GLE.L Omega Ratio Rank: 70
3GLE.L Calmar Ratio Rank: 74
3GLE.L Martin Ratio Rank: 61

GLD

GLD Risk / Return Rank: 87
GLD Sharpe Ratio Rank: 88
GLD Sortino Ratio Rank: 86
GLD Omega Ratio Rank: 86
GLD Calmar Ratio Rank: 89
GLD Martin Ratio Rank: 87

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. GLD - 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 SPDR Gold Shares (GLD). 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	GLD	Difference
Sharpe ratio Return per unit of total volatility	1.21	1.79	-0.58
Sortino ratio Return per unit of downside risk	1.72	2.21	-0.49
Omega ratio Gain probability vs. loss probability	1.26	1.33	-0.07
Calmar ratio Return relative to maximum drawdown	1.94	2.68	-0.74
Martin ratio Return relative to average drawdown	6.14	9.90	-3.77
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. GLD - Sharpe Ratio Comparison

The current 3GLE.L Sharpe Ratio is 1.21, which is lower than the GLD Sharpe Ratio of 1.79. The chart below compares the historical Sharpe Ratios of 3GLE.L and GLD, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	3GLE.L	GLD	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.21	1.79	-0.58
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	1.22	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.88	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.02	0.62	+0.40

Correlation

The correlation between 3GLE.L and GLD is 0.77, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.

Dividends

3GLE.L vs. GLD - Dividend Comparison

Neither 3GLE.L nor GLD has paid dividends to shareholders.

Tickers have no history of dividend payments

Drawdowns

3GLE.L vs. GLD - Drawdown Comparison

The maximum 3GLE.L drawdown since its inception was -49.48%, which is greater than GLD's maximum drawdown of -45.56%. Use the drawdown chart below to compare losses from any high point for 3GLE.L and GLD.

Drawdown Indicators

	3GLE.L	GLD	Difference
Max Drawdown Largest peak-to-trough decline	-49.48%	-45.56%	-3.92%
Max Drawdown (1Y) Largest decline over 1 year	-49.48%	-19.21%	-30.27%
Max Drawdown (5Y) Largest decline over 5 years	—	-21.03%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-22.00%	—
Current Drawdown Current decline from peak	-40.79%	-13.23%	-27.56%
Average Drawdown Average peak-to-trough decline	-11.73%	-16.17%	+4.44%
Ulcer Index Depth and duration of drawdowns from previous peaks	15.67%	5.20%	+10.47%

Volatility

3GLE.L vs. GLD - Volatility Comparison

Leverage Shares 3x Long Gold ETP Securities (3GLE.L) has a higher volatility of 34.51% compared to SPDR Gold Shares (GLD) at 11.06%. This indicates that 3GLE.L's price experiences larger fluctuations and is considered to be riskier than GLD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	3GLE.L	GLD	Difference
Volatility (1M) Calculated over the trailing 1-month period	34.51%	11.06%	+23.45%
Volatility (6M) Calculated over the trailing 6-month period	72.16%	24.30%	+47.86%
Volatility (1Y) Calculated over the trailing 1-year period	79.90%	27.80%	+52.10%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	53.20%	17.74%	+35.46%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	53.20%	15.87%	+37.33%