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3GOE.L vs. SPYY.L
Performance
Return for Risk
Drawdowns
Volatility
Dividends

3GOE.L vs. SPYY.L

Last updated Jun 5, 2026

3GOE.L (Leverage Shares 3x Alphabet ETP Scs) and SPYY.L (IncomeShares S&P500 Options (0DTE) ETP) are both exchange-traded funds - 3GOE.L is a Leveraged Equities fund tracking the iSTOXX Leveraged 3X GOOG Index, while SPYY.L is a Derivative Income fund actively managed by Leverage Shares. 3GOE.L is passively managed, while SPYY.L is actively managed. Over the past year, 3GOE.L returned 597.07% vs 10.70% for SPYY.L. At a 0.44 correlation, their price movements are largely independent. 3GOE.L charges 0.75%/yr vs 0.45%/yr for SPYY.L.

Performance

3GOE.L vs. SPYY.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 S&P500 Options (0DTE) ETP (SPYY.L). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, 3GOE.L achieves a 37.40% return, which is significantly higher than SPYY.L's -3.36% 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*
—

SPYY.L

1D
-0.10%
1M
2.88%
YTD
-3.36%
6M
-2.52%
1Y
10.70%
3Y*
—
5Y*
—
10Y*
—
*Multi-year figures are annualized to reflect compound growth (CAGR)

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

2026 (YTD)20252024
3GOE.L
Leverage Shares 3x Alphabet ETP Scs		37.40%133.65%55.26%
SPYY.L
IncomeShares S&P500 Options (0DTE) ETP		-3.36%16.00%-4.69%

Correlation

The correlation between 3GOE.L and SPYY.L is 0.35, which is low. Their price movements are largely independent, making them effective diversification partners.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.35

Correlation (All Time)
Calculated using the full available price history since Aug 29, 2024

0.44

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Leverage Shares 3x Alphabet ETP Scs

IncomeShares S&P500 Options (0DTE) ETP

Often compared with 3GOE.L:
3GOE.L vs. NVDI.L3GOE.L vs. 2MU.L3GOE.L vs. 2GOO.L3GOE.L vs. 3PLT.L3GOE.L vs. 3ABN.L3GOE.L vs. 2BRE.L3GOE.L vs. 3SPY.L
Often compared with SPYY.L:
SPYY.L vs. VWRA.LSPYY.L vs. ACWD.LSPYY.L vs. QTUMSPYY.L vs. NVDASPYY.L vs. IWDA.LSPYY.L vs. QQQY.LSPYY.L vs. VTI

Return for Risk

3GOE.L vs. SPYY.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: 9595
Overall Rank
3GOE.L Sharpe Ratio Rank: 9999
Sharpe Ratio Rank
3GOE.L Sortino Ratio Rank: 9595
Sortino Ratio Rank
3GOE.L Omega Ratio Rank: 9191
Omega Ratio Rank
3GOE.L Calmar Ratio Rank: 9797
Calmar Ratio Rank
3GOE.L Martin Ratio Rank: 9696
Martin Ratio Rank
SPYY.L
SPYY.L Risk / Return Rank: 2222
Overall Rank
SPYY.L Sharpe Ratio Rank: 2424
Sharpe Ratio Rank
SPYY.L Sortino Ratio Rank: 2222
Sortino Ratio Rank
SPYY.L Omega Ratio Rank: 2828
Omega Ratio Rank
SPYY.L Calmar Ratio Rank: 1818
Calmar Ratio Rank
SPYY.L Martin Ratio Rank: 2020
Martin Ratio Rank
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. SPYY.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 S&P500 Options (0DTE) ETP (SPYY.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.LSPYY.LDifference
Sharpe ratioReturn per unit of total volatility
6.77
0.83

+5.94

Sortino ratioReturn per unit of downside risk
4.98
1.11

+3.86

Omega ratioGain probability vs. loss probability

1.58

1.19

+0.39

Calmar ratioReturn relative to maximum drawdown

11.56

0.71

+10.85

Martin ratioReturn relative to average drawdown

36.18

2.23

+33.95

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

3GOE.L vs. SPYY.L - Sharpe Ratio Comparison

The current 3GOE.L Sharpe Ratio is 6.77, which is higher than the SPYY.L Sharpe Ratio of 0.83. The chart below compares the historical Sharpe Ratios of 3GOE.L and SPYY.L, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Sharpe Ratios by Period

3GOE.LSPYY.LDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

6.77

0.83

+5.94

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

0.26

+0.32

Drawdowns

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

The maximum 3GOE.L drawdown since its inception was -88.62%, which is greater than SPYY.L's maximum drawdown of -17.71%. Use the drawdown chart below to compare losses from any high point for 3GOE.L and SPYY.L.

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Drawdown Indicators

3GOE.LSPYY.LDifference

Max Drawdown

Largest peak-to-trough decline

-88.62%

-17.71%

-70.91%

Max Drawdown (1Y)

Largest decline over 1 year

-51.18%

-14.91%

-36.27%

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%

-4.42%

-18.32%

Average Drawdown

Average peak-to-trough decline

-43.41%

-4.76%

-38.65%

Ulcer Index

Depth and duration of drawdowns from previous peaks

16.39%

4.79%

+11.60%

Volatility

3GOE.L vs. SPYY.L - Volatility Comparison

Leverage Shares 3x Alphabet ETP Scs (3GOE.L) has a higher volatility of 24.09% compared to IncomeShares S&P500 Options (0DTE) ETP (SPYY.L) at 2.78%. This indicates that 3GOE.L's price experiences larger fluctuations and is considered to be riskier than SPYY.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.LSPYY.LDifference

Volatility (1M)

Calculated over the trailing 1-month period

24.09%

2.78%

+21.31%

Volatility (6M)

Calculated over the trailing 6-month period

55.21%

9.59%

+45.62%

Volatility (1Y)

Calculated over the trailing 1-year period

87.38%

12.77%

+74.61%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

89.79%

14.47%

+75.32%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

89.29%

14.47%

+74.82%

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

3GOE.L has a 0.75% expense ratio, which is higher than SPYY.L's 0.45% expense ratio.

Dividends

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

3GOE.L has not paid dividends to shareholders, while SPYY.L's dividend yield for the trailing twelve months is around 34.35%.

PositionTTM20252024
3GOE.L
Leverage Shares 3x Alphabet ETP Scs		0.00%0.00%0.00%
SPYY.L
IncomeShares S&P500 Options (0DTE) ETP		34.35%82.07%2.84%

Frequently Asked Questions

3GOE.L and SPYY.L have a correlation of 0.35, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

On fees, SPYY.L is cheaper at 0.45% per year. The better choice depends on whether you care most about return, fees, risk, or income.

SPYY.L is cheaper with a 0.45% expense ratio, compared with 0.75% for 3GOE.L.

3GOE.L is categorized as Leveraged Equities, while SPYY.L is Derivative Income. Their fees differ too: 0.75% for 3GOE.L and 0.45% for SPYY.L.

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