3NIE.L vs. 2MU.L
3NIE.L (Leverage Shares 3x Long NIO ETP Securities) and 2MU.L (Leverage Shares 2x Micron Technology ETC GBP) are both Leveraged Equities funds from Leverage Shares - 3NIE.L tracks the iSTOXX Leveraged 3x NIO Index while 2MU.L tracks the iSTOXX Leveraged 2X MU Index. Both are passively managed. Over the past 3 years, 3NIE.L returned -4.35%/yr vs 304.58%/yr for 2MU.L. At a 0.27 correlation, their price movements are largely independent. Both charge a 0.75% expense ratio.
Performance
3NIE.L vs. 2MU.L - Performance Comparison
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Different Trading Currencies
3NIE.L is traded in USD, while 2MU.L is traded in GBp. To make them comparable, the 2MU.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 -59.80% return, which is significantly lower than 2MU.L's 751.06% return.
3NIE.L
- 1D
- -14.85%
- 1M
- -29.31%
- YTD
- -59.80%
- 6M
- -48.10%
- 1Y
- -34.40%
- 3Y*
- -4.35%
- 5Y*
- —
- 10Y*
- —
2MU.L
- 1D
- 0.00%
- 1M
- 24.14%
- YTD
- 751.06%
- 6M
- 835.16%
- 1Y
- 3,577.94%
- 3Y*
- 304.58%
- 5Y*
- 93.16%
- 10Y*
- —
3NIE.L vs. 2MU.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
3NIE.L Leverage Shares 3x Long NIO ETP Securities | -59.80% | 21,648.40% | -98.16% | -82.34% | -99.76% | -35.85% |
2MU.L Leverage Shares 2x Micron Technology ETC GBP | 751.06% | 599.32% | -31.75% | 155.76% | -78.94% | 27.45% |
Correlation
The correlation between 3NIE.L and 2MU.L is 0.21, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.21 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.21 |
Correlation (All Time) Calculated using the full available price history since Dec 15, 2021 | 0.27 |
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Return for Risk
3NIE.L vs. 2MU.L — Risk / Return Rank
3NIE.L
2MU.L
3NIE.L vs. 2MU.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 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.
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.
| 3NIE.L | 2MU.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -24.60 | ||
| Sortino ratioReturn per unit of downside risk | -4.99 | ||
| Omega ratioGain probability vs. loss probability | 1.11 | 1.74 | -0.63 |
| Calmar ratioReturn relative to maximum drawdown | -0.38 | 67.08 | -67.46 |
| Martin ratioReturn relative to average drawdown | -0.54 | 220.73 | -221.27 |
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Drawdowns
3NIE.L vs. 2MU.L - Drawdown Comparison
The maximum 3NIE.L drawdown since its inception was -100.00%, which is greater than 2MU.L's maximum drawdown of -89.07%. Use the drawdown chart below to compare losses from any high point for 3NIE.L and 2MU.L.
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Drawdown Indicators
| 3NIE.L | 2MU.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -100.00% | -89.07% | -10.93% |
Max Drawdown (1Y)Largest decline over 1 year | -90.06% | -53.34% | -36.72% |
Max Drawdown (3Y)Largest decline over 3 years | -99.86% | -89.07% | -10.79% |
Max Drawdown (5Y)Largest decline over 5 years | — | -89.07% | — |
Current DrawdownCurrent decline from peak | -99.96% | -24.76% | -75.20% |
Average DrawdownAverage peak-to-trough decline | -96.79% | -45.82% | -50.97% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 63.58% | 16.21% | +47.37% |
Volatility
3NIE.L vs. 2MU.L - Volatility Comparison
The current volatility for Leverage Shares 3x Long NIO ETP Securities (3NIE.L) is 42.43%, while Leverage Shares 2x Micron Technology ETC GBP (2MU.L) has a volatility of 46.96%. This indicates that 3NIE.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
| 3NIE.L | 2MU.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 42.43% | 46.96% | -4.53% |
Volatility (6M)Calculated over the trailing 6-month period | 120.49% | 102.32% | +18.17% |
Volatility (1Y)Calculated over the trailing 1-year period | 180.02% | 146.62% | +33.40% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 29,599.17% | 110.36% | +29,488.81% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 29,599.17% | 105.22% | +29,493.95% |
3NIE.L vs. 2MU.L - Expense Ratio Comparison
Both 3NIE.L and 2MU.L have an expense ratio of 0.75%.
Dividends
3NIE.L vs. 2MU.L - Dividend Comparison
Neither 3NIE.L nor 2MU.L has paid dividends to shareholders.
Frequently Asked Questions
3NIE.L and 2MU.L have a correlation of 0.21, 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.
3NIE.L and 2MU.L have the same expense ratio: 0.75% per year.
3NIE.L tracks iSTOXX Leveraged 3x NIO Index, while 2MU.L tracks iSTOXX Leveraged 2X MU Index.
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