3MSF.L vs. 5QQE.L

Last updated Jun 5, 2026

3MSF.L (Leverage Shares 3x Microsoft ETP GBP) and 5QQE.L (Leverage Shares 5x Long Nasdaq 100 ETP Securities EUR) are both exchange-traded funds - 3MSF.L is a Leveraged Equities fund tracking the iSTOXX Leveraged 3X MSFT Index, while 5QQE.L is a Nasdaq-100 fund actively managed by Leverage Shares. 3MSF.L is passively managed, while 5QQE.L is actively managed. Over the past 3 years, 3MSF.L returned -9.61%/yr vs 69.99%/yr for 5QQE.L. A 0.68 correlation means they provide meaningful diversification when combined. Both charge a 0.75% expense ratio.

Performance

3MSF.L vs. 5QQE.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 Leverage Shares 5x Long Nasdaq 100 ETP Securities EUR (5QQE.L). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

3MSF.L is traded in GBp, while 5QQE.L is traded in EUR. To make them comparable, the 5QQE.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 -43.87% return, which is significantly lower than 5QQE.L's 92.71% return.

3MSF.L

• 1D: 2.31%
• 1M: 9.51%
• YTD: -43.87%
• 6M: -42.55%
• 1Y: -44.51%
• 3Y*: -9.61%
• 5Y*: 1.23%
• 10Y*: —

5QQE.L

• 1D: -3.75%
• 1M: 35.49%
• YTD: 92.71%
• 6M: 75.45%
• 1Y: 202.56%
• 3Y*: 69.99%
• 5Y*: —
• 10Y*: —

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

3MSF.L vs. 5QQE.L - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
3MSF.L Leverage Shares 3x Microsoft ETP GBP	-43.87%	-1.14%	15.47%	170.19%	-74.05%	6.50%
5QQE.L Leverage Shares 5x Long Nasdaq 100 ETP Securities EUR	92.71%	-4.80%	76.92%	400.57%	-95.65%	16.32%

Correlation

The correlation between 3MSF.L and 5QQE.L is 0.44, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.44
Correlation (3Y) Calculated over the trailing 3-year period	0.65
Correlation (All Time) Calculated using the full available price history since Dec 16, 2021	0.68

Over the past year, the correlation between 3MSF.L and 5QQE.L has dropped to 0.44 - well below their long-term average of 0.68, suggesting their price drivers have been diverging.

3MSF.L vs. 5QQE.L - Sectors Allocation Comparison

Sectors	3MSF.L	5QQE.L
Technology	100.0%	54.2%
Basic Materials	-	1.2%
Communication Services	-	15.5%
Consumer Cyclical	-	12.2%
Consumer Defensive	-	7.6%
Energy	-	0.6%
Financial Services	-	0.2%
Healthcare	-	4.2%
Industrials	-	2.8%
Real Estate	-	0.1%
Utilities	-	1.4%

Return for Risk

3MSF.L vs. 5QQE.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

5QQE.L

5QQE.L Risk / Return Rank: 67
5QQE.L Sharpe Ratio Rank: 83
5QQE.L Sortino Ratio Rank: 62
5QQE.L Omega Ratio Rank: 59
5QQE.L Calmar Ratio Rank: 74
5QQE.L Martin Ratio Rank: 57

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. 5QQE.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 5x Long Nasdaq 100 ETP Securities EUR (5QQE.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	5QQE.L	Difference
Sharpe ratio: Return per unit of total volatility	-0.49	2.76	-3.25
Sortino ratio: Return per unit of downside risk	-0.26	2.91	-3.17
Omega ratio: Gain probability vs. loss probability	0.96	1.36	-0.40
Calmar ratio: Return relative to maximum drawdown	-0.55	3.75	-4.29
Martin ratio: Return relative to average drawdown	-0.91	10.06	-10.97
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. 5QQE.L - Sharpe Ratio Comparison

The current 3MSF.L Sharpe Ratio is -0.49, which is lower than the 5QQE.L Sharpe Ratio of 2.76. The chart below compares the historical Sharpe Ratios of 3MSF.L and 5QQE.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	5QQE.L	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.49	2.76	-3.25
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.02	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.14	-0.04	+0.18

Drawdowns

3MSF.L vs. 5QQE.L - Drawdown Comparison

The maximum 3MSF.L drawdown since its inception was -81.42%, smaller than the maximum 5QQE.L drawdown of -95.85%. Use the drawdown chart below to compare losses from any high point for 3MSF.L and 5QQE.L.

Drawdown Indicators

	3MSF.L	5QQE.L	Difference
Max Drawdown Largest peak-to-trough decline	-81.42%	-95.85%	+14.43%
Max Drawdown (1Y) Largest decline over 1 year	-79.39%	-56.52%	-22.87%
Max Drawdown (3Y) Largest decline over 3 years	-79.39%	-80.29%	+0.90%
Max Drawdown (5Y) Largest decline over 5 years	-81.42%	—	—
Current Drawdown Current decline from peak	-68.07%	-29.37%	-38.70%
Average Drawdown Average peak-to-trough decline	-36.12%	-74.60%	+38.48%
Ulcer Index Depth and duration of drawdowns from previous peaks	47.82%	21.10%	+26.72%

Volatility

3MSF.L vs. 5QQE.L - Volatility Comparison

Leverage Shares 3x Microsoft ETP GBP (3MSF.L) has a higher volatility of 31.04% compared to Leverage Shares 5x Long Nasdaq 100 ETP Securities EUR (5QQE.L) at 24.77%. This indicates that 3MSF.L's price experiences larger fluctuations and is considered to be riskier than 5QQE.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	3MSF.L	5QQE.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	31.04%	24.77%	+6.27%
Volatility (6M) Calculated over the trailing 6-month period	75.10%	56.52%	+18.58%
Volatility (1Y) Calculated over the trailing 1-year period	88.44%	76.65%	+11.79%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	80.48%	107.79%	-27.31%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	80.21%	107.79%	-27.58%

3MSF.L vs. 5QQE.L - Expense Ratio Comparison

Both 3MSF.L and 5QQE.L have an expense ratio of 0.75%.

Dividends

3MSF.L vs. 5QQE.L - Dividend Comparison

Neither 3MSF.L nor 5QQE.L has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both 3MSF.L and 5QQE.L in my portfolio?

3MSF.L and 5QQE.L have a correlation of 0.44, 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 5QQE.L?

Both ETFs have the same 0.75% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, 3MSF.L or 5QQE.L?

3MSF.L and 5QQE.L have the same expense ratio: 0.75% per year.

What is the main difference between 3MSF.L and 5QQE.L?

3MSF.L is categorized as Leveraged Equities, while 5QQE.L is Nasdaq-100.