3NIE.L vs. 2MSF.L

Last updated Apr 2, 2026

Compare and contrast key facts about Leverage Shares 3x Long NIO ETP Securities (3NIE.L) and Leverage Shares 2x Microsoft ETC A GBP (2MSF.L).

3NIE.L and 2MSF.L are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. 3NIE.L is a passively managed fund by Leverage Shares that tracks the performance of the iSTOXX Leveraged 3x NIO Index. It was launched on Dec 10, 2021. 2MSF.L is a passively managed fund by Leverage Shares that tracks the performance of the NYSE Leveraged 2x MSFT Index. It was launched on Dec 5, 2017. Both 3NIE.L and 2MSF.L are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.

Performance

3NIE.L vs. 2MSF.L - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Leverage Shares 3x Long NIO ETP Securities (3NIE.L) and Leverage Shares 2x Microsoft ETC A GBP (2MSF.L). The values are adjusted to include any dividend payments, if applicable.

3NIE.L vs. 2MSF.L - Yearly Performance Comparison

	2026 (YTD)	2025
3NIE.L Leverage Shares 3x Long NIO ETP Securities	5.39%	-21.24%
2MSF.L Leverage Shares 2x Microsoft ETC A GBP	-44.65%	5.36%

Different Trading Currencies

3NIE.L is traded in USD, while 2MSF.L is traded in GBp. To make them comparable, the 2MSF.L values have been converted to USD using the latest available exchange rates.

Returns By Period

In the year-to-date period, 3NIE.L achieves a 5.39% return, which is significantly higher than 2MSF.L's -44.65% return.

3NIE.L

• 1D: 5.91%
• 1M: 84.55%
• YTD: 5.39%
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

2MSF.L

• 1D: 3.63%
• 1M: -13.85%
• YTD: -44.65%
• 6M: -51.87%
• 1Y: -18.91%
• 3Y*: 5.06%
• 5Y*: 5.15%
• 10Y*: —

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

3NIE.L vs. 2MSF.L - Expense Ratio Comparison

Both 3NIE.L and 2MSF.L have an expense ratio of 0.75%.

3NIE.L

Leverage Shares 3x Long NIO ETP Securities

2MSF.L

Leverage Shares 2x Microsoft ETC A GBP

Return for Risk

3NIE.L vs. 2MSF.L — Risk / Return Rank

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

2MSF.L

2MSF.L Risk / Return Rank: 8
2MSF.L Sharpe Ratio Rank: 6
2MSF.L Sortino Ratio Rank: 9
2MSF.L Omega Ratio Rank: 9
2MSF.L Calmar Ratio Rank: 7
2MSF.L Martin Ratio Rank: 7

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.

3NIE.L vs. 2MSF.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Leverage Shares 3x Long NIO ETP Securities (3NIE.L) and Leverage Shares 2x Microsoft ETC A GBP (2MSF.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.

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

Sharpe Ratios by Period

	3NIE.L	2MSF.L	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	-0.28	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.10	—
Sharpe Ratio (All Time) Calculated using the full available price history	-0.25	0.47	-0.72

Correlation

The correlation between 3NIE.L and 2MSF.L is -0.04. This indicates that the assets' prices tend to move in opposite directions. Negative correlation can be particularly beneficial for diversification and risk management, as one asset may offset the losses of the other during market fluctuations.

Dividends

3NIE.L vs. 2MSF.L - Dividend Comparison

Neither 3NIE.L nor 2MSF.L has paid dividends to shareholders.

Tickers have no history of dividend payments

Drawdowns

3NIE.L vs. 2MSF.L - Drawdown Comparison

The maximum 3NIE.L drawdown since its inception was -60.65%, smaller than the maximum 2MSF.L drawdown of -66.92%. Use the drawdown chart below to compare losses from any high point for 3NIE.L and 2MSF.L.

Drawdown Indicators

	3NIE.L	2MSF.L	Difference
Max Drawdown Largest peak-to-trough decline	-60.65%	-66.77%	+6.12%
Max Drawdown (1Y) Largest decline over 1 year	—	-66.77%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-66.77%	—
Current Drawdown Current decline from peak	-18.25%	-64.79%	+46.54%
Average Drawdown Average peak-to-trough decline	-39.03%	-17.94%	-21.09%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	31.90%	—

Volatility

Volatility by Period

	3NIE.L	2MSF.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	10.97%	—
Volatility (6M) Calculated over the trailing 6-month period	—	56.90%	—
Volatility (1Y) Calculated over the trailing 1-year period	164.11%	67.06%	+97.05%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	164.11%	53.47%	+110.64%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	164.11%	53.27%	+110.84%