3GOE.L vs. MSTI.L

Last updated Jun 5, 2026

3GOE.L (Leverage Shares 3x Alphabet ETP Scs) and MSTI.L (IncomeShares Microstrategy (MSTR) Options ETP) are both exchange-traded funds - 3GOE.L is a Leveraged Equities fund tracking the iSTOXX Leveraged 3X GOOG Index, while MSTI.L is a Derivative Income fund actively managed by Leverage Shares. 3GOE.L is passively managed, while MSTI.L is actively managed. At a 0.13 correlation, their price movements are largely independent. 3GOE.L charges 0.75%/yr vs 0.55%/yr for MSTI.L.

Performance

3GOE.L vs. MSTI.L - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Leverage Shares 3x Alphabet ETP Scs (3GOE.L) and IncomeShares Microstrategy (MSTR) Options ETP (MSTI.L). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, 3GOE.L achieves a 37.40% return, which is significantly higher than MSTI.L's -55.10% 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*: —

MSTI.L

• 1D: -3.56%
• 1M: -36.16%
• YTD: -55.10%
• 6M: -60.57%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

3GOE.L vs. MSTI.L - Yearly Performance Comparison

	2026 (YTD)	2025
3GOE.L Leverage Shares 3x Alphabet ETP Scs	37.40%	355.41%
MSTI.L IncomeShares Microstrategy (MSTR) Options ETP	-55.10%	-61.38%

Correlation

The correlation between 3GOE.L and MSTI.L is 0.13, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (All Time) Calculated using the full available price history since Jul 1, 2025	0.13

Return for Risk

3GOE.L vs. MSTI.L — Risk / Return Rank

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

3GOE.L

3GOE.L Risk / Return Rank: 95
3GOE.L Sharpe Ratio Rank: 99
3GOE.L Sortino Ratio Rank: 95
3GOE.L Omega Ratio Rank: 91
3GOE.L Calmar Ratio Rank: 97
3GOE.L Martin Ratio Rank: 96

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.

3GOE.L vs. MSTI.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 IncomeShares Microstrategy (MSTR) Options ETP (MSTI.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	MSTI.L	Difference
Sharpe ratio: Return per unit of total volatility	6.77	—	—
Sortino ratio: Return per unit of downside risk	4.98	—	—
Omega ratio: Gain probability vs. loss probability	1.58	—	—
Calmar ratio: Return relative to maximum drawdown	11.56	—	—
Martin ratio: Return relative to average drawdown	36.18	—	—
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

Sharpe Ratios by Period

	3GOE.L	MSTI.L	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	6.77	—	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.32	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.59	-1.36	+1.95

Drawdowns

3GOE.L vs. MSTI.L - Drawdown Comparison

The maximum 3GOE.L drawdown since its inception was -88.62%, roughly equal to the maximum MSTI.L drawdown of -85.28%. Use the drawdown chart below to compare losses from any high point for 3GOE.L and MSTI.L.

Drawdown Indicators

	3GOE.L	MSTI.L	Difference
Max Drawdown Largest peak-to-trough decline	-88.62%	-85.28%	-3.34%
Max Drawdown (1Y) Largest decline over 1 year	-51.18%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-69.84%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-88.62%	—	—
Current Drawdown Current decline from peak	-22.74%	-85.28%	+62.54%
Average Drawdown Average peak-to-trough decline	-43.41%	-52.74%	+9.33%
Ulcer Index Depth and duration of drawdowns from previous peaks	16.39%	—	—

Volatility

Volatility by Period

	3GOE.L	MSTI.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	24.09%	—	—
Volatility (6M) Calculated over the trailing 6-month period	55.21%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	87.38%	62.48%	+24.90%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	89.79%	62.48%	+27.31%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	89.29%	62.48%	+26.81%

3GOE.L vs. MSTI.L - Expense Ratio Comparison

3GOE.L has a 0.75% expense ratio, which is higher than MSTI.L's 0.55% expense ratio.

Dividends

3GOE.L vs. MSTI.L - Dividend Comparison

3GOE.L has not paid dividends to shareholders, while MSTI.L's dividend yield for the trailing twelve months is around 1.50%.

Position	TTM	2025
3GOE.L Leverage Shares 3x Alphabet ETP Scs	0.00%	0.00%
MSTI.L IncomeShares Microstrategy (MSTR) Options ETP	1.50%	0.16%

Frequently Asked Questions

Can I hold both 3GOE.L and MSTI.L in my portfolio?

3GOE.L and MSTI.L 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.

Which ETF is better, 3GOE.L or MSTI.L?

On fees, MSTI.L is cheaper at 0.55% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, 3GOE.L or MSTI.L?

MSTI.L is cheaper with a 0.55% expense ratio, compared with 0.75% for 3GOE.L.

What is the main difference between 3GOE.L and MSTI.L?

3GOE.L is categorized as Leveraged Equities, while MSTI.L is Derivative Income. Their fees differ too: 0.75% for 3GOE.L and 0.55% for MSTI.L.