3MSF.L vs. 3BAL.L

Last updated Jun 4, 2026

3MSF.L (Leverage Shares 3x Microsoft ETP GBP) and 3BAL.L (WisdomTree EURO STOXX Banks 3x Daily Leveraged) are both Leveraged Equities funds - 3MSF.L tracks the iSTOXX Leveraged 3X MSFT Index while 3BAL.L tracks the EURO STOXX Banks Daily Leverage 3 EUR Net Return Index. Both are passively managed. Over the past 5 years, 3MSF.L returned 0.77%/yr vs 59.87%/yr for 3BAL.L. At a 0.19 correlation, their price movements are largely independent. 3MSF.L charges 0.75%/yr vs 0.89%/yr for 3BAL.L.

Performance

3MSF.L vs. 3BAL.L - Performance Comparison

The chart below illustrates the hypothetical performance of a £10,000 investment in Leverage Shares 3x Microsoft ETP GBP (3MSF.L) and WisdomTree EURO STOXX Banks 3x Daily Leveraged (3BAL.L). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, 3MSF.L achieves a -45.14% return, which is significantly lower than 3BAL.L's 2.88% 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*: —

3BAL.L

• 1D: 2.25%
• 1M: 14.53%
• YTD: 2.88%
• 6M: 25.89%
• 1Y: 120.86%
• 3Y*: 136.42%
• 5Y*: 59.87%
• 10Y*: —

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

3MSF.L vs. 3BAL.L - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
3MSF.L Leverage Shares 3x Microsoft ETP GBP	-45.14%	-1.14%	15.47%	170.19%	-74.05%	203.49%	36.73%
3BAL.L WisdomTree EURO STOXX Banks 3x Daily Leveraged	2.88%	433.07%	68.07%	63.85%	-24.90%	108.27%	14.99%

Correlation

The correlation between 3MSF.L and 3BAL.L is 0.21, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.21
Correlation (3Y) Calculated over the trailing 3-year period	0.19
Correlation (5Y) Calculated over the trailing 5-year period	0.23
Correlation (All Time) Calculated using the full available price history since Jun 5, 2020	0.19

Return for Risk

3MSF.L vs. 3BAL.L — Risk / Return Rank

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

3MSF.L

3MSF.L Risk / Return Rank: 5
3MSF.L Sharpe Ratio Rank: 5
3MSF.L Sortino Ratio Rank: 6
3MSF.L Omega Ratio Rank: 6
3MSF.L Calmar Ratio Rank: 4
3MSF.L Martin Ratio Rank: 5

3BAL.L

3BAL.L Risk / Return Rank: 47
3BAL.L Sharpe Ratio Rank: 51
3BAL.L Sortino Ratio Rank: 45
3BAL.L Omega Ratio Rank: 42
3BAL.L Calmar Ratio Rank: 53
3BAL.L Martin Ratio Rank: 44

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.

3MSF.L vs. 3BAL.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 WisdomTree EURO STOXX Banks 3x Daily Leveraged (3BAL.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	3BAL.L	Difference
Sharpe ratio: Return per unit of total volatility	-0.50	1.73	-2.23
Sortino ratio: Return per unit of downside risk	-0.28	2.27	-2.55
Omega ratio: Gain probability vs. loss probability	0.96	1.27	-0.31
Calmar ratio: Return relative to maximum drawdown	-0.56	2.61	-3.17
Martin ratio: Return relative to average drawdown	-0.93	7.11	-8.04
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

3MSF.L vs. 3BAL.L - Sharpe Ratio Comparison

The current 3MSF.L Sharpe Ratio is -0.50, which is lower than the 3BAL.L Sharpe Ratio of 1.73. The chart below compares the historical Sharpe Ratios of 3MSF.L and 3BAL.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.

Sharpe Ratios by Period

	3MSF.L	3BAL.L	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.50	1.73	-2.23
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.01	0.80	-0.79
Sharpe Ratio (All Time) Calculated using the full available price history	0.13	0.10	+0.04

Drawdowns

3MSF.L vs. 3BAL.L - Drawdown Comparison

The maximum 3MSF.L drawdown since its inception was -81.42%, smaller than the maximum 3BAL.L drawdown of -97.78%. Use the drawdown chart below to compare losses from any high point for 3MSF.L and 3BAL.L.

Drawdown Indicators

	3MSF.L	3BAL.L	Difference
Max Drawdown Largest peak-to-trough decline	-81.42%	-97.78%	+16.36%
Max Drawdown (1Y) Largest decline over 1 year	-79.39%	-45.44%	-33.95%
Max Drawdown (3Y) Largest decline over 3 years	-79.39%	-50.31%	-29.08%
Max Drawdown (5Y) Largest decline over 5 years	-81.42%	-77.94%	-3.48%
Current Drawdown Current decline from peak	-68.80%	-15.06%	-53.74%
Average Drawdown Average peak-to-trough decline	-36.10%	-66.27%	+30.17%
Ulcer Index Depth and duration of drawdowns from previous peaks	47.63%	16.72%	+30.91%

Volatility

3MSF.L vs. 3BAL.L - Volatility Comparison

Leverage Shares 3x Microsoft ETP GBP (3MSF.L) has a higher volatility of 31.08% compared to WisdomTree EURO STOXX Banks 3x Daily Leveraged (3BAL.L) at 18.17%. This indicates that 3MSF.L's price experiences larger fluctuations and is considered to be riskier than 3BAL.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	3MSF.L	3BAL.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	31.08%	18.17%	+12.91%
Volatility (6M) Calculated over the trailing 6-month period	75.06%	54.27%	+20.79%
Volatility (1Y) Calculated over the trailing 1-year period	88.42%	68.63%	+19.79%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	80.52%	74.92%	+5.60%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	80.24%	82.86%	-2.62%

3MSF.L vs. 3BAL.L - Expense Ratio Comparison

3MSF.L has a 0.75% expense ratio, which is lower than 3BAL.L's 0.89% expense ratio.

Dividends

3MSF.L vs. 3BAL.L - Dividend Comparison

Neither 3MSF.L nor 3BAL.L has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both 3MSF.L and 3BAL.L in my portfolio?

3MSF.L and 3BAL.L have a correlation of 0.21, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, 3MSF.L or 3BAL.L?

On fees, 3MSF.L is cheaper at 0.75% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, 3MSF.L or 3BAL.L?

3MSF.L is cheaper with a 0.75% expense ratio, compared with 0.89% for 3BAL.L.

What is the main difference between 3MSF.L and 3BAL.L?

3MSF.L tracks iSTOXX Leveraged 3X MSFT Index, while 3BAL.L tracks EURO STOXX Banks Daily Leverage 3 EUR Net Return Index. They also come from different issuers: Leverage Shares and WisdomTree. Their fees differ too: 0.75% for 3MSF.L and 0.89% for 3BAL.L.