3JPN.DE vs. SMLN.DE
3JPN.DE (Leverage Shares 3x Long Japan ETP Securities) and SMLN.DE (Invesco JPX-Nikkei 400 UCITS ETF) are both Japan Equities funds. 3JPN.DE is actively managed, while SMLN.DE is passively managed. Over the past 3 years, 3JPN.DE returned 18.95%/yr vs 15.28%/yr for SMLN.DE. Their correlation of 0.89 suggests significant overlap in exposure. 3JPN.DE charges 0.75%/yr vs 0.19%/yr for SMLN.DE.
Performance
3JPN.DE vs. SMLN.DE - Performance Comparison
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Returns By Period
In the year-to-date period, 3JPN.DE achieves a 30.11% return, which is significantly higher than SMLN.DE's 14.96% return.
3JPN.DE
- 1D
- 0.00%
- 1M
- -10.71%
- 6M
- 10.77%
- YTD
- 30.11%
- 1Y
- 74.74%
- 3Y*
- 18.95%
- 5Y*
- —
- 10Y*
- —
SMLN.DE
- 1D
- -2.06%
- 1M
- -3.02%
- 6M
- 8.07%
- YTD
- 14.96%
- 1Y
- 30.61%
- 3Y*
- 15.28%
- 5Y*
- 9.54%
- 10Y*
- 8.46%
3JPN.DE vs. SMLN.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
3JPN.DE Leverage Shares 3x Long Japan ETP Securities | 30.11% | 27.74% | 0.10% | 34.83% | -6.43% |
SMLN.DE Invesco JPX-Nikkei 400 UCITS ETF | 14.96% | 12.69% | 12.93% | 16.15% | -1.95% |
Correlation
The correlation between 3JPN.DE and SMLN.DE is 0.95, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.95 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.92 |
Correlation (All Time) Calculated using the full available price history since Sep 13, 2022 | 0.89 |
The correlation between 3JPN.DE and SMLN.DE has been stable across timeframes, ranging from 0.89 to 0.95 - a consistent structural relationship.
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Return for Risk
3JPN.DE vs. SMLN.DE — Risk / Return Rank
3JPN.DE
SMLN.DE
3JPN.DE vs. SMLN.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Leverage Shares 3x Long Japan ETP Securities (3JPN.DE) and Invesco JPX-Nikkei 400 UCITS ETF (SMLN.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.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| 3JPN.DE | SMLN.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.43 | ||
| Sortino ratioReturn per unit of downside risk | -0.46 | ||
| Omega ratioGain probability vs. loss probability | 1.24 | 1.30 | -0.07 |
| Calmar ratioReturn relative to maximum drawdown | 2.16 | 3.23 | -1.07 |
| Martin ratioReturn relative to average drawdown | 6.03 | 10.74 | -4.70 |
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Drawdowns
3JPN.DE vs. SMLN.DE - Drawdown Comparison
The maximum 3JPN.DE drawdown since its inception was -51.65%, smaller than the maximum SMLN.DE drawdown of -99.33%. Use the drawdown chart below to compare losses from any high point for 3JPN.DE and SMLN.DE.
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Drawdown Indicators
| 3JPN.DE | SMLN.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -51.65% | -99.33% | +47.68% |
Max Drawdown (1Y)Largest decline over 1 year | -34.71% | -9.43% | -25.28% |
Max Drawdown (3Y)Largest decline over 3 years | -51.65% | -15.55% | -36.10% |
Max Drawdown (5Y)Largest decline over 5 years | — | -19.85% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -99.33% | — |
Current DrawdownCurrent decline from peak | -15.34% | -98.43% | +83.09% |
Average DrawdownAverage peak-to-trough decline | -14.63% | -78.06% | +63.43% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 12.43% | 2.84% | +9.59% |
Volatility
3JPN.DE vs. SMLN.DE - Volatility Comparison
Leverage Shares 3x Long Japan ETP Securities (3JPN.DE) has a higher volatility of 19.42% compared to Invesco JPX-Nikkei 400 UCITS ETF (SMLN.DE) at 5.87%. This indicates that 3JPN.DE's price experiences larger fluctuations and is considered to be riskier than SMLN.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| 3JPN.DE | SMLN.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 19.42% | 5.87% | +13.55% |
Volatility (6M)Calculated over the trailing 6-month period | 52.31% | 15.73% | +36.58% |
Volatility (1Y)Calculated over the trailing 1-year period | 63.51% | 18.97% | +44.54% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 53.27% | 16.30% | +36.97% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 53.27% | 4,014.90% | -3,961.63% |
3JPN.DE vs. SMLN.DE - Expense Ratio Comparison
3JPN.DE has a 0.75% expense ratio, which is higher than SMLN.DE's 0.19% expense ratio.
Dividends
3JPN.DE vs. SMLN.DE - Dividend Comparison
Neither 3JPN.DE nor SMLN.DE has paid dividends to shareholders.
Frequently Asked Questions
With a correlation of 0.95, 3JPN.DE and SMLN.DE move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.
On fees, SMLN.DE is cheaper at 0.19% per year. The better choice depends on whether you care most about return, fees, risk, or income.
SMLN.DE is cheaper with a 0.19% expense ratio, compared with 0.75% for 3JPN.DE.
They also come from different issuers: Leverage Shares and Invesco. Their fees differ too: 0.75% for 3JPN.DE and 0.19% for SMLN.DE.
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