3MST.L vs. 3BAB.L
3MST.L (Leverage Shares 3x Long MicroStrategy ETP) and 3BAB.L (Leverage Shares 3x Alibaba ETC) are both Leveraged Equities funds from Leverage Shares - 3MST.L tracks the Euronext 3x Long MicroStrategy Index while 3BAB.L tracks the iSTOXX Leveraged 3x BABA Index. Both are passively managed. Over the past year, 3MST.L returned -58.62% vs -71.51% for 3BAB.L. At a 0.22 correlation, their price movements are largely independent. Both charge a 0.75% expense ratio.
Performance
3MST.L vs. 3BAB.L - Performance Comparison
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Different Trading Currencies
3MST.L is traded in USD, while 3BAB.L is traded in GBp. To make them comparable, the 3BAB.L values have been converted to USD using the latest available exchange rates.
Returns By Period
In the year-to-date period, 3MST.L achieves a 1,116.53% return, which is significantly higher than 3BAB.L's -79.43% return.
3MST.L
- 1D
- 0.00%
- 1M
- -82.05%
- YTD
- 1,116.53%
- 6M
- 1,089.46%
- 1Y
- -58.62%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
3BAB.L
- 1D
- -16.69%
- 1M
- -60.26%
- YTD
- -79.43%
- 6M
- -81.21%
- 1Y
- -71.51%
- 3Y*
- -40.69%
- 5Y*
- —
- 10Y*
- —
3MST.L vs. 3BAB.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
3MST.L Leverage Shares 3x Long MicroStrategy ETP | 1,116.53% | -98.41% | 91.45% |
3BAB.L Leverage Shares 3x Alibaba ETC | -79.43% | 124.78% | -43.06% |
Correlation
The correlation between 3MST.L and 3BAB.L is 0.25, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.25 |
Correlation (All Time) Calculated using the full available price history since Sep 26, 2024 | 0.22 |
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Return for Risk
3MST.L vs. 3BAB.L — Risk / Return Rank
3MST.L
3BAB.L
3MST.L vs. 3BAB.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Leverage Shares 3x Long MicroStrategy ETP (3MST.L) and Leverage Shares 3x Alibaba ETC (3BAB.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.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| 3MST.L | 3BAB.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.56 | ||
| Sortino ratioReturn per unit of downside risk | +85.66 | ||
| Omega ratioGain probability vs. loss probability | 9.89 | 0.94 | +8.95 |
| Calmar ratioReturn relative to maximum drawdown | -0.59 | -0.78 | +0.19 |
| Martin ratioReturn relative to average drawdown | -0.78 | -1.32 | +0.54 |
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Drawdowns
3MST.L vs. 3BAB.L - Drawdown Comparison
The maximum 3MST.L drawdown since its inception was -99.93%, which is greater than 3BAB.L's maximum drawdown of -91.94%. Use the drawdown chart below to compare losses from any high point for 3MST.L and 3BAB.L.
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Drawdown Indicators
| 3MST.L | 3BAB.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -99.93% | -91.94% | -7.99% |
Max Drawdown (1Y)Largest decline over 1 year | -99.48% | -91.94% | -7.54% |
Max Drawdown (3Y)Largest decline over 3 years | — | -91.94% | — |
Current DrawdownCurrent decline from peak | -96.66% | -91.94% | -4.72% |
Average DrawdownAverage peak-to-trough decline | -83.35% | -54.01% | -29.34% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 75.09% | 54.08% | +21.01% |
Volatility
3MST.L vs. 3BAB.L - Volatility Comparison
Leverage Shares 3x Long MicroStrategy ETP (3MST.L) has a higher volatility of 85.00% compared to Leverage Shares 3x Alibaba ETC (3BAB.L) at 36.79%. This indicates that 3MST.L's price experiences larger fluctuations and is considered to be riskier than 3BAB.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| 3MST.L | 3BAB.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 85.00% | 36.79% | +48.21% |
Volatility (6M)Calculated over the trailing 6-month period | 518.03% | 91.74% | +426.29% |
Volatility (1Y)Calculated over the trailing 1-year period | 13,334.98% | 127.45% | +13,207.53% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 10,112.41% | 128.05% | +9,984.36% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 10,112.41% | 128.05% | +9,984.36% |
3MST.L vs. 3BAB.L - Expense Ratio Comparison
Both 3MST.L and 3BAB.L have an expense ratio of 0.75%.
Dividends
3MST.L vs. 3BAB.L - Dividend Comparison
Neither 3MST.L nor 3BAB.L has paid dividends to shareholders.
Frequently Asked Questions
3MST.L and 3BAB.L have a correlation of 0.25, 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.
3MST.L and 3BAB.L have the same expense ratio: 0.75% per year.
3MST.L tracks Euronext 3x Long MicroStrategy Index, while 3BAB.L tracks iSTOXX Leveraged 3x BABA Index.
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