3NFE.L vs. SUK2.L

Last updated Jul 18, 2026

3NFE.L (Leverage Shares 3x Netflix ETP Securities EUR) and SUK2.L (L&G FTSE 100 Super Short Strategy (Daily 2x) UCITS ETF GBP (Acc)) are both exchange-traded funds - 3NFE.L is a Leveraged Equities fund tracking the iSTOXX Leveraged 3X NFLX Index, while SUK2.L is a Inverse Equities fund tracking the FTSE 100 Daily Super Short Strategy Index. Both are passively managed. Over the past 5 years, 3NFE.L returned 7.49%/yr vs -17.54%/yr for SUK2.L. At a correlation of -0.14, they often move in opposite directions. 3NFE.L charges 0.75%/yr vs 0.60%/yr for SUK2.L.

Performance

3NFE.L vs. SUK2.L - Performance Comparison

The chart below illustrates the hypothetical performance of a €10,000 investment in Leverage Shares 3x Netflix ETP Securities EUR (3NFE.L) and L&G FTSE 100 Super Short Strategy (Daily 2x) UCITS ETF GBP (Acc) (SUK2.L). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

3NFE.L is traded in EUR, while SUK2.L is traded in GBp. To make them comparable, the SUK2.L values have been converted to EUR using the latest available exchange rates.

Returns By Period

In the year-to-date period, 3NFE.L achieves a -71.48% return, which is significantly lower than SUK2.L's -10.41% return.

3NFE.L

• 1D: -23.60%
• 1M: -38.04%
• 6M: -65.95%
• YTD: -71.48%
• 1Y: -90.92%
• 3Y*: 274.73%
• 5Y*: 7.49%
• 10Y*: —

SUK2.L

• 1D: -0.61%
• 1M: 0.49%
• 6M: -5.93%
• YTD: -10.41%
• 1Y: -26.77%
• 3Y*: -19.28%
• 5Y*: -17.54%
• 10Y*: -17.17%

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

3NFE.L vs. SUK2.L - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
3NFE.L Leverage Shares 3x Netflix ETP Securities EUR	-71.48%	-42.85%	343.46%	23,288.32%	-99.41%	23.97%	31.07%
SUK2.L L&G FTSE 100 Super Short Strategy (Daily 2x) UCITS ETF GBP (Acc)	-10.41%	-35.67%	-2.31%	-4.42%	-18.41%	-28.36%	-12.53%

Correlation

The correlation between 3NFE.L and SUK2.L is 0.01, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.01
Correlation (3Y) Calculated over the trailing 3-year period	-0.10
Correlation (5Y) Calculated over the trailing 5-year period	-0.15
Correlation (All Time) Calculated using the full available price history since Jun 4, 2020	-0.14

The correlation between 3NFE.L and SUK2.L shifts across timeframes, from -0.15 (5 years) to 0.01 (1 year), reflecting how their relationship changes across market environments.

Return for Risk

3NFE.L vs. SUK2.L — Risk / Return Rank

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

3NFE.L

3NFE.L Risk / Return Rank: 1
3NFE.L Sharpe Ratio Rank: 2
3NFE.L Sortino Ratio Rank: 0
3NFE.L Omega Ratio Rank: 0
3NFE.L Calmar Ratio Rank: 0
3NFE.L Martin Ratio Rank: 1

SUK2.L

SUK2.L Risk / Return Rank: 1
SUK2.L Sharpe Ratio Rank: 0
SUK2.L Sortino Ratio Rank: 1
SUK2.L Omega Ratio Rank: 1
SUK2.L Calmar Ratio Rank: 1
SUK2.L Martin Ratio Rank: 1

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.

3NFE.L vs. SUK2.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Leverage Shares 3x Netflix ETP Securities EUR (3NFE.L) and L&G FTSE 100 Super Short Strategy (Daily 2x) UCITS ETF GBP (Acc) (SUK2.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.

	3NFE.L	SUK2.L	Difference
Sharpe ratio: Return per unit of total volatility	-0.91	-1.17	+0.26
Sortino ratio: Return per unit of downside risk	-2.35	-1.72	-0.63
Omega ratio: Gain probability vs. loss probability	0.70	0.81	-0.10
Calmar ratio: Return relative to maximum drawdown	-1.01	-0.85	-0.16
Martin ratio: Return relative to average drawdown	-1.51	-1.38	-0.13

3NFE.L vs. SUK2.L - Sharpe Ratio Comparison

The current 3NFE.L Sharpe Ratio is -0.91, which is comparable to the SUK2.L Sharpe Ratio of -1.17. The chart below compares the historical Sharpe Ratios of 3NFE.L and SUK2.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.

Drawdowns

3NFE.L vs. SUK2.L - Drawdown Comparison

The maximum 3NFE.L drawdown since its inception was -99.84%, roughly equal to the maximum SUK2.L drawdown of -98.41%. Use the drawdown chart below to compare losses from any high point for 3NFE.L and SUK2.L.

Drawdown Indicators

	3NFE.L	SUK2.L	Difference
Max Drawdown Largest peak-to-trough decline	-99.84%	-98.41%	-1.43%
Max Drawdown (1Y) Largest decline over 1 year	-90.12%	-31.34%	-58.78%
Max Drawdown (3Y) Largest decline over 3 years	-92.26%	-53.84%	-38.42%
Max Drawdown (5Y) Largest decline over 5 years	-99.84%	-65.93%	-33.91%
Max Drawdown (10Y) Largest decline over 10 years	—	-86.18%	—
Current Drawdown Current decline from peak	-92.26%	-98.29%	+6.03%
Average Drawdown Average peak-to-trough decline	-51.78%	-84.72%	+32.94%
Ulcer Index Depth and duration of drawdowns from previous peaks	60.22%	19.01%	+41.21%

Volatility

3NFE.L vs. SUK2.L - Volatility Comparison

Leverage Shares 3x Netflix ETP Securities EUR (3NFE.L) has a higher volatility of 40.15% compared to L&G FTSE 100 Super Short Strategy (Daily 2x) UCITS ETF GBP (Acc) (SUK2.L) at 5.91%. This indicates that 3NFE.L's price experiences larger fluctuations and is considered to be riskier than SUK2.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	3NFE.L	SUK2.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	40.15%	5.91%	+34.24%
Volatility (6M) Calculated over the trailing 6-month period	84.69%	19.56%	+65.13%
Volatility (1Y) Calculated over the trailing 1-year period	99.72%	22.83%	+76.89%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	3,363.19%	25.92%	+3,337.27%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	3,038.48%	30.74%	+3,007.74%

3NFE.L vs. SUK2.L - Expense Ratio Comparison

3NFE.L has a 0.75% expense ratio, which is higher than SUK2.L's 0.60% expense ratio.

Dividends

3NFE.L vs. SUK2.L - Dividend Comparison

Neither 3NFE.L nor SUK2.L has paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022
3NFE.L Leverage Shares 3x Netflix ETP Securities EUR	0.00%	0.00%	0.00%	0.00%	195.88%
SUK2.L L&G FTSE 100 Super Short Strategy (Daily 2x) UCITS ETF GBP (Acc)	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both 3NFE.L and SUK2.L in my portfolio?

3NFE.L and SUK2.L have a correlation of 0.01, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, 3NFE.L or SUK2.L?

On fees, SUK2.L is cheaper at 0.60% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, 3NFE.L or SUK2.L?

SUK2.L is cheaper with a 0.60% expense ratio, compared with 0.75% for 3NFE.L.

What is the main difference between 3NFE.L and SUK2.L?

3NFE.L is categorized as Leveraged Equities, while SUK2.L is Inverse Equities. 3NFE.L tracks iSTOXX Leveraged 3X NFLX Index, while SUK2.L tracks FTSE 100 Daily Super Short Strategy Index. They also come from different issuers: Leverage Shares and L&G. Their fees differ too: 0.75% for 3NFE.L and 0.60% for SUK2.L.