3NFL.L vs. 2MU.L
3NFL.L (Leverage Shares 3x Netflix ETP Securities GBP) and 2MU.L (Leverage Shares 2x Micron Technology ETC GBP) are both Leveraged Equities funds from Leverage Shares - 3NFL.L tracks the iSTOXX Leveraged 3X NFLX Index while 2MU.L tracks the iSTOXX Leveraged 2X MU Index. Both are passively managed. Over the past 5 years, 3NFL.L returned 24.85%/yr vs 99.54%/yr for 2MU.L. At a 0.20 correlation, their price movements are largely independent. Both charge a 0.75% expense ratio.
Performance
3NFL.L vs. 2MU.L - Performance Comparison
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Returns By Period
In the year-to-date period, 3NFL.L achieves a -47.64% return, which is significantly lower than 2MU.L's 890.70% return.
3NFL.L
- 1D
- -7.73%
- 1M
- -35.93%
- YTD
- -47.64%
- 6M
- -62.83%
- 1Y
- -81.84%
- 3Y*
- 406.90%
- 5Y*
- 24.85%
- 10Y*
- —
2MU.L
- 1D
- 3.90%
- 1M
- 267.24%
- YTD
- 890.70%
- 6M
- 1,363.92%
- 1Y
- 6,514.91%
- 3Y*
- 298.47%
- 5Y*
- 99.54%
- 10Y*
- —
3NFL.L vs. 2MU.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
3NFL.L Leverage Shares 3x Netflix ETP Securities GBP | -47.64% | -39.94% | 323.42% | 22,926.07% | -99.45% | 15.85% | 30.94% |
2MU.L Leverage Shares 2x Micron Technology ETC GBP | 890.70% | 550.25% | -30.59% | 142.95% | -76.42% | 45.29% | 65.67% |
Correlation
The correlation between 3NFL.L and 2MU.L is -0.13, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.13 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.10 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.20 |
Correlation (All Time) Calculated using the full available price history since Jun 5, 2020 | 0.20 |
The correlation between 3NFL.L and 2MU.L shifts across timeframes, from -0.13 (1 year) to 0.20 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
3NFL.L vs. 2MU.L — Risk / Return Rank
3NFL.L
2MU.L
3NFL.L vs. 2MU.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Leverage Shares 3x Netflix ETP Securities GBP (3NFL.L) and Leverage Shares 2x Micron Technology ETC GBP (2MU.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.
| 3NFL.L | 2MU.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -51.19 | ||
| Sortino ratioReturn per unit of downside risk | -9.20 | ||
| Omega ratioGain probability vs. loss probability | 0.79 | 1.95 | -1.16 |
| Calmar ratioReturn relative to maximum drawdown | -0.95 | 120.42 | -121.37 |
| Martin ratioReturn relative to average drawdown | -1.39 | 429.29 | -430.68 |
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
| 3NFL.L | 2MU.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.85 | 50.34 | -51.19 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.01 | 0.95 | -0.94 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.01 | 0.99 | -0.99 |
Drawdowns
3NFL.L vs. 2MU.L - Drawdown Comparison
The maximum 3NFL.L drawdown since its inception was -99.86%, which is greater than 2MU.L's maximum drawdown of -89.16%. Use the drawdown chart below to compare losses from any high point for 3NFL.L and 2MU.L.
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Drawdown Indicators
| 3NFL.L | 2MU.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -99.86% | -89.16% | -10.70% |
Max Drawdown (1Y)Largest decline over 1 year | -86.21% | -53.20% | -33.01% |
Max Drawdown (3Y)Largest decline over 3 years | -86.21% | -89.16% | +2.95% |
Max Drawdown (5Y)Largest decline over 5 years | -99.85% | -89.16% | -10.69% |
Current DrawdownCurrent decline from peak | -85.51% | 0.00% | -85.51% |
Average DrawdownAverage peak-to-trough decline | -52.07% | -44.86% | -7.21% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 58.93% | 14.95% | +43.98% |
Volatility
3NFL.L vs. 2MU.L - Volatility Comparison
The current volatility for Leverage Shares 3x Netflix ETP Securities GBP (3NFL.L) is 28.61%, while Leverage Shares 2x Micron Technology ETC GBP (2MU.L) has a volatility of 53.51%. This indicates that 3NFL.L experiences smaller price fluctuations and is considered to be less risky than 2MU.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| 3NFL.L | 2MU.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 28.61% | 53.51% | -24.90% |
Volatility (6M)Calculated over the trailing 6-month period | 78.64% | 96.13% | -17.49% |
Volatility (1Y)Calculated over the trailing 1-year period | 96.02% | 127.53% | -31.51% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 3,347.19% | 104.70% | +3,242.49% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 3,065.00% | 100.80% | +2,964.20% |
3NFL.L vs. 2MU.L - Expense Ratio Comparison
Both 3NFL.L and 2MU.L have an expense ratio of 0.75%.
Dividends
3NFL.L vs. 2MU.L - Dividend Comparison
Neither 3NFL.L nor 2MU.L has paid dividends to shareholders.
Frequently Asked Questions
3NFL.L and 2MU.L have a correlation of -0.13, 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.
3NFL.L and 2MU.L have the same expense ratio: 0.75% per year.
3NFL.L tracks iSTOXX Leveraged 3X NFLX Index, while 2MU.L tracks iSTOXX Leveraged 2X MU Index.
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