3MSE.L vs. 3BP.L
3MSE.L (Leverage Shares 3x Microsoft ETP EUR) and 3BP.L (Leverage Shares 3x BP ETP GBX) are both Leveraged Equities funds from Leverage Shares - 3MSE.L tracks the iSTOXX Leveraged 3X MSFT Index while 3BP.L tracks the iSTOXX Leveraged 3x BP Index. Both are passively managed. Over the past 5 years, 3MSE.L returned 2.59%/yr vs 4.77%/yr for 3BP.L. At a 0.01 correlation, their price movements are largely independent. Both charge a 0.75% expense ratio.
Performance
3MSE.L vs. 3BP.L - Performance Comparison
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Different Trading Currencies
3MSE.L is traded in EUR, while 3BP.L is traded in GBp. To make them comparable, the 3BP.L values have been converted to EUR using the latest available exchange rates.
Returns By Period
In the year-to-date period, 3MSE.L achieves a -43.10% return, which is significantly lower than 3BP.L's 76.87% return.
3MSE.L
- 1D
- 1.70%
- 1M
- 11.46%
- YTD
- -43.10%
- 6M
- -41.34%
- 1Y
- -44.84%
- 3Y*
- -9.58%
- 5Y*
- 2.59%
- 10Y*
- —
3BP.L
- 1D
- -1.68%
- 1M
- -16.49%
- YTD
- 76.87%
- 6M
- 38.85%
- 1Y
- 161.91%
- 3Y*
- -2.39%
- 5Y*
- 4.77%
- 10Y*
- —
3MSE.L vs. 3BP.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
3MSE.L Leverage Shares 3x Microsoft ETP EUR | -43.10% | -6.09% | 20.99% | 175.47% | -76.35% | 197.39% |
3BP.L Leverage Shares 3x BP ETP GBX | 76.87% | 10.73% | -47.57% | -13.44% | 50.69% | -3.39% |
Correlation
The correlation between 3MSE.L and 3BP.L is -0.09, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.09 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.01 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.01 |
Correlation (All Time) Calculated using the full available price history since Mar 19, 2021 | 0.01 |
The correlation between 3MSE.L and 3BP.L shifts across timeframes, from -0.09 (1 year) to 0.01 (5 years), reflecting how their relationship changes across market environments.
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Return for Risk
3MSE.L vs. 3BP.L — Risk / Return Rank
3MSE.L
3BP.L
3MSE.L vs. 3BP.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Leverage Shares 3x Microsoft ETP EUR (3MSE.L) and Leverage Shares 3x BP ETP GBX (3BP.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.
| 3MSE.L | 3BP.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.46 | ||
| Sortino ratioReturn per unit of downside risk | -2.66 | ||
| Omega ratioGain probability vs. loss probability | 0.94 | 1.30 | -0.36 |
| Calmar ratioReturn relative to maximum drawdown | -0.59 | 4.12 | -4.70 |
| Martin ratioReturn relative to average drawdown | -1.02 | 11.42 | -12.44 |
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
| 3MSE.L | 3BP.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.56 | 1.89 | -2.46 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.03 | 0.06 | -0.02 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.03 | 0.06 | -0.03 |
Drawdowns
3MSE.L vs. 3BP.L - Drawdown Comparison
The maximum 3MSE.L drawdown since its inception was -82.27%, roughly equal to the maximum 3BP.L drawdown of -84.99%. Use the drawdown chart below to compare losses from any high point for 3MSE.L and 3BP.L.
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Drawdown Indicators
| 3MSE.L | 3BP.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -82.27% | -84.99% | +2.72% |
Max Drawdown (1Y)Largest decline over 1 year | -76.12% | -39.10% | -37.02% |
Max Drawdown (3Y)Largest decline over 3 years | -76.12% | -82.35% | +6.23% |
Max Drawdown (5Y)Largest decline over 5 years | -82.27% | -84.99% | +2.72% |
Current DrawdownCurrent decline from peak | -62.77% | -45.40% | -17.37% |
Average DrawdownAverage peak-to-trough decline | -37.79% | -42.92% | +5.13% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 43.75% | 14.12% | +29.63% |
Volatility
3MSE.L vs. 3BP.L - Volatility Comparison
Leverage Shares 3x Microsoft ETP EUR (3MSE.L) and Leverage Shares 3x BP ETP GBX (3BP.L) have volatilities of 30.73% and 29.66%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| 3MSE.L | 3BP.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 30.73% | 29.66% | +1.07% |
Volatility (6M)Calculated over the trailing 6-month period | 75.06% | 74.48% | +0.58% |
Volatility (1Y)Calculated over the trailing 1-year period | 79.14% | 85.26% | -6.12% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 78.61% | 90.72% | -12.11% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 80.17% | 91.08% | -10.91% |
3MSE.L vs. 3BP.L - Expense Ratio Comparison
Both 3MSE.L and 3BP.L have an expense ratio of 0.75%.
Dividends
3MSE.L vs. 3BP.L - Dividend Comparison
Neither 3MSE.L nor 3BP.L has paid dividends to shareholders.
Frequently Asked Questions
3MSE.L and 3BP.L have a correlation of -0.09, 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.
3MSE.L and 3BP.L have the same expense ratio: 0.75% per year.
3MSE.L tracks iSTOXX Leveraged 3X MSFT Index, while 3BP.L tracks iSTOXX Leveraged 3x BP Index.
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