3GOE.L vs. 3AAP.L
3GOE.L (Leverage Shares 3x Alphabet ETP Scs) and 3AAP.L (Leverage Shares 3x Apple ETP Securities GBP) are both Leveraged Equities funds from Leverage Shares - 3GOE.L tracks the iSTOXX Leveraged 3X GOOG Index while 3AAP.L tracks the iSTOXX Leveraged 3X AAPL Index. Both are passively managed. Over the past 5 years, 3GOE.L returned 28.94%/yr vs 22.83%/yr for 3AAP.L. At a 0.47 correlation, their price movements are largely independent. Both charge a 0.75% expense ratio.
Performance
3GOE.L vs. 3AAP.L - Performance Comparison
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Different Trading Currencies
3GOE.L is traded in USD, while 3AAP.L is traded in GBp. To make them comparable, the 3AAP.L values have been converted to USD using the latest available exchange rates.
Returns By Period
In the year-to-date period, 3GOE.L achieves a 37.40% return, which is significantly higher than 3AAP.L's 29.54% return.
3GOE.L
- 1D
- 10.59%
- 1M
- -15.25%
- YTD
- 37.40%
- 6M
- 29.89%
- 1Y
- 597.07%
- 3Y*
- 85.68%
- 5Y*
- 28.94%
- 10Y*
- —
3AAP.L
- 1D
- -0.93%
- 1M
- 33.82%
- YTD
- 29.54%
- 6M
- 17.70%
- 1Y
- 160.00%
- 3Y*
- 19.18%
- 5Y*
- 22.83%
- 10Y*
- —
3GOE.L vs. 3AAP.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
3GOE.L Leverage Shares 3x Alphabet ETP Scs | 37.40% | 133.65% | 89.16% | 159.88% | -86.56% | 320.07% | 40.96% |
3AAP.L Leverage Shares 3x Apple ETP Securities GBP | 29.54% | -22.82% | 67.19% | 164.98% | -76.46% | 93.21% | 245.22% |
Correlation
The correlation between 3GOE.L and 3AAP.L is 0.15, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.15 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.33 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.46 |
Correlation (All Time) Calculated using the full available price history since Jun 5, 2020 | 0.47 |
Over the past year, the correlation between 3GOE.L and 3AAP.L has dropped to 0.15 - well below their long-term average of 0.47, suggesting their price drivers have been diverging.
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Return for Risk
3GOE.L vs. 3AAP.L — Risk / Return Rank
3GOE.L
3AAP.L
3GOE.L vs. 3AAP.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Leverage Shares 3x Alphabet ETP Scs (3GOE.L) and Leverage Shares 3x Apple ETP Securities GBP (3AAP.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.
| 3GOE.L | 3AAP.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +5.17 | ||
| Sortino ratioReturn per unit of downside risk | +2.29 | ||
| Omega ratioGain probability vs. loss probability | 1.58 | 1.35 | +0.22 |
| Calmar ratioReturn relative to maximum drawdown | 11.56 | 3.55 | +8.01 |
| Martin ratioReturn relative to average drawdown | 36.18 | 7.08 | +29.10 |
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
| 3GOE.L | 3AAP.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 6.77 | 1.60 | +5.17 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.32 | 0.26 | +0.06 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.59 | 0.42 | +0.16 |
Drawdowns
3GOE.L vs. 3AAP.L - Drawdown Comparison
The maximum 3GOE.L drawdown since its inception was -88.62%, which is greater than 3AAP.L's maximum drawdown of -78.42%. Use the drawdown chart below to compare losses from any high point for 3GOE.L and 3AAP.L.
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Drawdown Indicators
| 3GOE.L | 3AAP.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -88.62% | -78.42% | -10.20% |
Max Drawdown (1Y)Largest decline over 1 year | -51.18% | -44.81% | -6.37% |
Max Drawdown (3Y)Largest decline over 3 years | -69.84% | -73.03% | +3.19% |
Max Drawdown (5Y)Largest decline over 5 years | -88.62% | -78.42% | -10.20% |
Current DrawdownCurrent decline from peak | -22.74% | -2.86% | -19.88% |
Average DrawdownAverage peak-to-trough decline | -43.41% | -35.89% | -7.52% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 16.39% | 22.48% | -6.09% |
Volatility
3GOE.L vs. 3AAP.L - Volatility Comparison
Leverage Shares 3x Alphabet ETP Scs (3GOE.L) has a higher volatility of 24.09% compared to Leverage Shares 3x Apple ETP Securities GBP (3AAP.L) at 15.12%. This indicates that 3GOE.L's price experiences larger fluctuations and is considered to be riskier than 3AAP.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| 3GOE.L | 3AAP.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 24.09% | 15.12% | +8.97% |
Volatility (6M)Calculated over the trailing 6-month period | 55.21% | 49.41% | +5.80% |
Volatility (1Y)Calculated over the trailing 1-year period | 87.38% | 99.40% | -12.02% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 89.79% | 88.26% | +1.53% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 89.29% | 90.10% | -0.81% |
3GOE.L vs. 3AAP.L - Expense Ratio Comparison
Both 3GOE.L and 3AAP.L have an expense ratio of 0.75%.
Dividends
3GOE.L vs. 3AAP.L - Dividend Comparison
Neither 3GOE.L nor 3AAP.L has paid dividends to shareholders.
Frequently Asked Questions
3GOE.L and 3AAP.L have a correlation of 0.15, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
Both ETFs have the same 0.75% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.
3GOE.L and 3AAP.L have the same expense ratio: 0.75% per year.
3GOE.L tracks iSTOXX Leveraged 3X GOOG Index, while 3AAP.L tracks iSTOXX Leveraged 3X AAPL Index.
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