3MSF.L vs. 2BRE.L
3MSF.L (Leverage Shares 3x Microsoft ETP GBP) and 2BRE.L (Leverage Shares 2x Long Berkshire Hathaway (BRK-B) ETC EUR) are both Leveraged Equities funds from Leverage Shares. 3MSF.L is passively managed, while 2BRE.L is actively managed. Over the past 3 years, 3MSF.L returned -9.44%/yr vs 11.04%/yr for 2BRE.L. At a 0.15 correlation, their price movements are largely independent. Both charge a 0.75% expense ratio.
Performance
3MSF.L vs. 2BRE.L - Performance Comparison
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Different Trading Currencies
3MSF.L is traded in GBp, while 2BRE.L is traded in EUR. To make them comparable, the 2BRE.L values have been converted to GBp using the latest available exchange rates.
Returns By Period
In the year-to-date period, 3MSF.L achieves a -45.14% return, which is significantly lower than 2BRE.L's -15.13% return.
3MSF.L
- 1D
- -11.81%
- 1M
- 6.51%
- YTD
- -45.14%
- 6M
- -44.62%
- 1Y
- -44.21%
- 3Y*
- -9.44%
- 5Y*
- 0.77%
- 10Y*
- —
2BRE.L
- 1D
- 1.12%
- 1M
- -0.63%
- YTD
- -15.13%
- 6M
- -17.49%
- 1Y
- -18.06%
- 3Y*
- 11.04%
- 5Y*
- —
- 10Y*
- —
3MSF.L vs. 2BRE.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
3MSF.L Leverage Shares 3x Microsoft ETP GBP | -45.14% | -1.14% | 15.47% | 170.19% | -74.05% | 6.98% |
2BRE.L Leverage Shares 2x Long Berkshire Hathaway (BRK-B) ETC EUR | -15.13% | 0.18% | 48.08% | 15.89% | 8.81% | -1.09% |
Correlation
The correlation between 3MSF.L and 2BRE.L is 0.03, 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 | 0.03 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.08 |
Correlation (All Time) Calculated using the full available price history since Dec 17, 2021 | 0.15 |
The correlation between 3MSF.L and 2BRE.L shifts across timeframes, from 0.03 (1 year) to 0.15 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
3MSF.L vs. 2BRE.L — Risk / Return Rank
3MSF.L
2BRE.L
3MSF.L vs. 2BRE.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Leverage Shares 3x Microsoft ETP GBP (3MSF.L) and Leverage Shares 2x Long Berkshire Hathaway (BRK-B) ETC EUR (2BRE.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.
| 3MSF.L | 2BRE.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.14 | ||
| Sortino ratioReturn per unit of downside risk | +0.51 | ||
| Omega ratioGain probability vs. loss probability | 0.96 | 0.91 | +0.05 |
| Calmar ratioReturn relative to maximum drawdown | -0.56 | -0.76 | +0.20 |
| Martin ratioReturn relative to average drawdown | -0.93 | -1.55 | +0.63 |
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
| 3MSF.L | 2BRE.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.50 | -0.64 | +0.14 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.01 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.13 | 0.31 | -0.18 |
Drawdowns
3MSF.L vs. 2BRE.L - Drawdown Comparison
The maximum 3MSF.L drawdown since its inception was -81.42%, which is greater than 2BRE.L's maximum drawdown of -39.82%. Use the drawdown chart below to compare losses from any high point for 3MSF.L and 2BRE.L.
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Drawdown Indicators
| 3MSF.L | 2BRE.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -81.42% | -39.82% | -41.60% |
Max Drawdown (1Y)Largest decline over 1 year | -79.39% | -23.79% | -55.60% |
Max Drawdown (3Y)Largest decline over 3 years | -79.39% | -37.53% | -41.86% |
Max Drawdown (5Y)Largest decline over 5 years | -81.42% | — | — |
Current DrawdownCurrent decline from peak | -68.80% | -35.36% | -33.44% |
Average DrawdownAverage peak-to-trough decline | -36.10% | -17.51% | -18.59% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 47.63% | 11.59% | +36.04% |
Volatility
3MSF.L vs. 2BRE.L - Volatility Comparison
Leverage Shares 3x Microsoft ETP GBP (3MSF.L) has a higher volatility of 31.08% compared to Leverage Shares 2x Long Berkshire Hathaway (BRK-B) ETC EUR (2BRE.L) at 8.56%. This indicates that 3MSF.L's price experiences larger fluctuations and is considered to be riskier than 2BRE.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| 3MSF.L | 2BRE.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 31.08% | 8.56% | +22.52% |
Volatility (6M)Calculated over the trailing 6-month period | 75.06% | 20.86% | +54.20% |
Volatility (1Y)Calculated over the trailing 1-year period | 88.42% | 28.32% | +60.10% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 80.52% | 37.24% | +43.28% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 80.24% | 37.24% | +43.00% |
3MSF.L vs. 2BRE.L - Expense Ratio Comparison
Both 3MSF.L and 2BRE.L have an expense ratio of 0.75%.
Dividends
3MSF.L vs. 2BRE.L - Dividend Comparison
Neither 3MSF.L nor 2BRE.L has paid dividends to shareholders.
Frequently Asked Questions
3MSF.L and 2BRE.L have a correlation of 0.03, 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.
3MSF.L and 2BRE.L have the same expense ratio: 0.75% per year.
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