3MSF.L vs. LQQ3.L

Last updated Jun 4, 2026

3MSF.L (Leverage Shares 3x Microsoft ETP GBP) and LQQ3.L (WisdomTree NASDAQ 100 3x Daily Leveraged) are both exchange-traded funds - 3MSF.L is a Leveraged Equities fund tracking the iSTOXX Leveraged 3X MSFT Index, while LQQ3.L is a Nasdaq-100 fund tracking the NASDAQ-100 Notional Net Total Return Index. Both are passively managed. Over the past 5 years, 3MSF.L returned 0.77%/yr vs 28.64%/yr for LQQ3.L. A 0.74 correlation means they provide meaningful diversification when combined. Both charge a 0.75% expense ratio.

Performance

3MSF.L vs. LQQ3.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 NASDAQ 100 3x Daily Leveraged (LQQ3.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 LQQ3.L's 59.56% 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*: —

LQQ3.L

• 1D: -0.06%
• 1M: 33.69%
• YTD: 59.56%
• 6M: 53.17%
• 1Y: 133.06%
• 3Y*: 62.12%
• 5Y*: 28.64%
• 10Y*: —

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

3MSF.L vs. LQQ3.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%
LQQ3.L WisdomTree NASDAQ 100 3x Daily Leveraged	59.56%	18.96%	62.50%	192.06%	-77.11%	89.86%	94.82%

Correlation

The correlation between 3MSF.L and LQQ3.L is 0.45, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.45
Correlation (3Y) Calculated over the trailing 3-year period	0.66
Correlation (5Y) Calculated over the trailing 5-year period	0.73
Correlation (All Time) Calculated using the full available price history since Jun 5, 2020	0.74

Over the past year, the correlation between 3MSF.L and LQQ3.L has dropped to 0.45 - well below their long-term average of 0.74, suggesting their price drivers have been diverging.

Return for Risk

3MSF.L vs. LQQ3.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

LQQ3.L

LQQ3.L Risk / Return Rank: 73
LQQ3.L Sharpe Ratio Rank: 88
LQQ3.L Sortino Ratio Rank: 73
LQQ3.L Omega Ratio Rank: 70
LQQ3.L Calmar Ratio Rank: 75
LQQ3.L Martin Ratio Rank: 62

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. LQQ3.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 NASDAQ 100 3x Daily Leveraged (LQQ3.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	LQQ3.L	Difference
Sharpe ratio: Return per unit of total volatility	-0.50	2.94	-3.43
Sortino ratio: Return per unit of downside risk	-0.28	3.28	-3.55
Omega ratio: Gain probability vs. loss probability	0.96	1.42	-0.46
Calmar ratio: Return relative to maximum drawdown	-0.56	3.71	-4.27
Martin ratio: Return relative to average drawdown	-0.93	11.01	-11.93
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. LQQ3.L - Sharpe Ratio Comparison

The current 3MSF.L Sharpe Ratio is -0.50, which is lower than the LQQ3.L Sharpe Ratio of 2.94. The chart below compares the historical Sharpe Ratios of 3MSF.L and LQQ3.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	LQQ3.L	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.50	2.94	-3.43
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.01	0.48	-0.47
Sharpe Ratio (All Time) Calculated using the full available price history	0.13	0.67	-0.54

Drawdowns

3MSF.L vs. LQQ3.L - Drawdown Comparison

The maximum 3MSF.L drawdown since its inception was -81.42%, roughly equal to the maximum LQQ3.L drawdown of -79.16%. Use the drawdown chart below to compare losses from any high point for 3MSF.L and LQQ3.L.

Drawdown Indicators

	3MSF.L	LQQ3.L	Difference
Max Drawdown Largest peak-to-trough decline	-81.42%	-79.16%	-2.26%
Max Drawdown (1Y) Largest decline over 1 year	-79.39%	-35.64%	-43.75%
Max Drawdown (3Y) Largest decline over 3 years	-79.39%	-58.39%	-21.00%
Max Drawdown (5Y) Largest decline over 5 years	-81.42%	-79.16%	-2.26%
Current Drawdown Current decline from peak	-68.80%	-0.06%	-68.74%
Average Drawdown Average peak-to-trough decline	-36.10%	-23.34%	-12.76%
Ulcer Index Depth and duration of drawdowns from previous peaks	47.63%	12.04%	+35.59%

Volatility

3MSF.L vs. LQQ3.L - Volatility Comparison

Leverage Shares 3x Microsoft ETP GBP (3MSF.L) has a higher volatility of 31.08% compared to WisdomTree NASDAQ 100 3x Daily Leveraged (LQQ3.L) at 13.48%. This indicates that 3MSF.L's price experiences larger fluctuations and is considered to be riskier than LQQ3.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	3MSF.L	LQQ3.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	31.08%	13.48%	+17.60%
Volatility (6M) Calculated over the trailing 6-month period	75.06%	32.79%	+42.27%
Volatility (1Y) Calculated over the trailing 1-year period	88.42%	45.25%	+43.17%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	80.52%	59.27%	+21.25%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	80.24%	59.45%	+20.79%

3MSF.L vs. LQQ3.L - Expense Ratio Comparison

Both 3MSF.L and LQQ3.L have an expense ratio of 0.75%.

Dividends

3MSF.L vs. LQQ3.L - Dividend Comparison

Neither 3MSF.L nor LQQ3.L has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both 3MSF.L and LQQ3.L in my portfolio?

3MSF.L and LQQ3.L have a correlation of 0.45, 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 LQQ3.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 LQQ3.L?

3MSF.L and LQQ3.L have the same expense ratio: 0.75% per year.

What is the main difference between 3MSF.L and LQQ3.L?

3MSF.L is categorized as Leveraged Equities, while LQQ3.L is Nasdaq-100. 3MSF.L tracks iSTOXX Leveraged 3X MSFT Index, while LQQ3.L tracks NASDAQ-100 Notional Net Total Return Index. They also come from different issuers: Leverage Shares and WisdomTree.