3MST.L vs. 3USL.L
3MST.L (Leverage Shares 3x Long MicroStrategy ETP) and 3USL.L (WisdomTree S&P 500 3x Daily Leveraged GB) are both Leveraged Equities funds - 3MST.L tracks the Euronext 3x Long MicroStrategy Index while 3USL.L tracks the S&P 500 Net Total Returns Index. Both are passively managed. Over the past year, 3MST.L returned -99.29% vs 77.77% for 3USL.L. At a 0.44 correlation, their price movements are largely independent. Both charge a 0.75% expense ratio.
Performance
3MST.L vs. 3USL.L - Performance Comparison
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Returns By Period
In the year-to-date period, 3MST.L achieves a -78.63% return, which is significantly lower than 3USL.L's 25.13% return.
3MST.L
- 1D
- -8.62%
- 1M
- -71.71%
- YTD
- -78.63%
- 6M
- -88.77%
- 1Y
- -99.29%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
3USL.L
- 1D
- -0.02%
- 1M
- 12.76%
- YTD
- 25.13%
- 6M
- 26.49%
- 1Y
- 77.77%
- 3Y*
- 50.50%
- 5Y*
- 22.25%
- 10Y*
- 28.49%
3MST.L vs. 3USL.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
3MST.L Leverage Shares 3x Long MicroStrategy ETP | -78.63% | -98.41% | 164.28% |
3USL.L WisdomTree S&P 500 3x Daily Leveraged GB | 25.13% | 28.97% | 6.51% |
Correlation
The correlation between 3MST.L and 3USL.L is 0.38, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.38 |
Correlation (All Time) Calculated using the full available price history since Sep 27, 2024 | 0.44 |
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Return for Risk
3MST.L vs. 3USL.L — Risk / Return Rank
3MST.L
3USL.L
3MST.L vs. 3USL.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 WisdomTree S&P 500 3x Daily Leveraged GB (3USL.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.
| 3MST.L | 3USL.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.75 | ||
| Sortino ratioReturn per unit of downside risk | -5.00 | ||
| Omega ratioGain probability vs. loss probability | 0.78 | 1.36 | -0.58 |
| Calmar ratioReturn relative to maximum drawdown | -1.00 | 3.06 | -4.06 |
| Martin ratioReturn relative to average drawdown | -1.21 | 12.28 | -13.49 |
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
| 3MST.L | 3USL.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.50 | 2.25 | -2.75 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | 0.47 | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.59 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.40 | 0.60 | -0.99 |
Drawdowns
3MST.L vs. 3USL.L - Drawdown Comparison
The maximum 3MST.L drawdown since its inception was -99.94%, which is greater than 3USL.L's maximum drawdown of -76.72%. Use the drawdown chart below to compare losses from any high point for 3MST.L and 3USL.L.
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Drawdown Indicators
| 3MST.L | 3USL.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -99.94% | -76.72% | -23.22% |
Max Drawdown (1Y)Largest decline over 1 year | -99.53% | -25.29% | -74.24% |
Max Drawdown (3Y)Largest decline over 3 years | — | -48.69% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -63.47% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -76.72% | — |
Current DrawdownCurrent decline from peak | -99.94% | -1.82% | -98.12% |
Average DrawdownAverage peak-to-trough decline | -85.39% | -15.26% | -70.13% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 82.32% | 6.31% | +76.01% |
Volatility
3MST.L vs. 3USL.L - Volatility Comparison
Leverage Shares 3x Long MicroStrategy ETP (3MST.L) has a higher volatility of 61.01% compared to WisdomTree S&P 500 3x Daily Leveraged GB (3USL.L) at 9.42%. This indicates that 3MST.L's price experiences larger fluctuations and is considered to be riskier than 3USL.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 | 3USL.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 61.01% | 9.42% | +51.59% |
Volatility (6M)Calculated over the trailing 6-month period | 160.17% | 25.26% | +134.91% |
Volatility (1Y)Calculated over the trailing 1-year period | 198.97% | 34.36% | +164.61% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 236.29% | 47.39% | +188.90% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 236.29% | 48.51% | +187.78% |
3MST.L vs. 3USL.L - Expense Ratio Comparison
Both 3MST.L and 3USL.L have an expense ratio of 0.75%.
Dividends
3MST.L vs. 3USL.L - Dividend Comparison
Neither 3MST.L nor 3USL.L has paid dividends to shareholders.
Frequently Asked Questions
3MST.L and 3USL.L have a correlation of 0.38, 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 3USL.L have the same expense ratio: 0.75% per year.
3MST.L tracks Euronext 3x Long MicroStrategy Index, while 3USL.L tracks S&P 500 Net Total Returns Index. They also come from different issuers: Leverage Shares and WisdomTree.
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