3NIE.L vs. 3MST.L
3NIE.L (Leverage Shares 3x Long NIO ETP Securities) and 3MST.L (Leverage Shares 3x Long MicroStrategy ETP) are both Leveraged Equities funds from Leverage Shares - 3NIE.L tracks the iSTOXX Leveraged 3x NIO Index while 3MST.L tracks the Euronext 3x Long MicroStrategy Index. Both are passively managed. Over the past year, 3NIE.L returned -34.40% vs -58.62% for 3MST.L. At a 0.19 correlation, their price movements are largely independent. Both charge a 0.75% expense ratio.
Performance
3NIE.L vs. 3MST.L - Performance Comparison
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Returns By Period
In the year-to-date period, 3NIE.L achieves a -59.80% return, which is significantly lower than 3MST.L's 1,116.53% return.
3NIE.L
- 1D
- -14.85%
- 1M
- -29.31%
- YTD
- -59.80%
- 6M
- -48.10%
- 1Y
- -34.40%
- 3Y*
- -4.35%
- 5Y*
- —
- 10Y*
- —
3MST.L
- 1D
- 0.00%
- 1M
- -82.05%
- YTD
- 1,116.53%
- 6M
- 1,089.46%
- 1Y
- -58.62%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
3NIE.L vs. 3MST.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
3NIE.L Leverage Shares 3x Long NIO ETP Securities | -59.80% | 21,648.40% | -68.14% |
3MST.L Leverage Shares 3x Long MicroStrategy ETP | 1,116.53% | -98.41% | 91.45% |
Correlation
The correlation between 3NIE.L and 3MST.L is 0.12, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.12 |
Correlation (All Time) Calculated using the full available price history since Sep 26, 2024 | 0.19 |
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Return for Risk
3NIE.L vs. 3MST.L — Risk / Return Rank
3NIE.L
3MST.L
3NIE.L vs. 3MST.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 3x Long MicroStrategy ETP (3MST.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 | 3MST.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.19 | ||
| Sortino ratioReturn per unit of downside risk | -84.07 | ||
| Omega ratioGain probability vs. loss probability | 1.11 | 9.89 | -8.78 |
| Calmar ratioReturn relative to maximum drawdown | -0.38 | -0.59 | +0.21 |
| Martin ratioReturn relative to average drawdown | -0.54 | -0.78 | +0.24 |
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Drawdowns
3NIE.L vs. 3MST.L - Drawdown Comparison
The maximum 3NIE.L drawdown since its inception was -100.00%, roughly equal to the maximum 3MST.L drawdown of -99.93%. Use the drawdown chart below to compare losses from any high point for 3NIE.L and 3MST.L.
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Drawdown Indicators
| 3NIE.L | 3MST.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -100.00% | -99.93% | -0.07% |
Max Drawdown (1Y)Largest decline over 1 year | -90.06% | -99.48% | +9.42% |
Max Drawdown (3Y)Largest decline over 3 years | -99.86% | — | — |
Current DrawdownCurrent decline from peak | -99.96% | -96.66% | -3.30% |
Average DrawdownAverage peak-to-trough decline | -96.79% | -83.35% | -13.44% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 63.58% | 75.09% | -11.51% |
Volatility
3NIE.L vs. 3MST.L - Volatility Comparison
The current volatility for Leverage Shares 3x Long NIO ETP Securities (3NIE.L) is 42.43%, while Leverage Shares 3x Long MicroStrategy ETP (3MST.L) has a volatility of 85.00%. This indicates that 3NIE.L experiences smaller price fluctuations and is considered to be less risky than 3MST.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 | 3MST.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 42.43% | 85.00% | -42.57% |
Volatility (6M)Calculated over the trailing 6-month period | 120.49% | 518.03% | -397.54% |
Volatility (1Y)Calculated over the trailing 1-year period | 180.02% | 13,334.98% | -13,154.96% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 29,599.17% | 10,112.41% | +19,486.76% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 29,599.17% | 10,112.41% | +19,486.76% |
3NIE.L vs. 3MST.L - Expense Ratio Comparison
Both 3NIE.L and 3MST.L have an expense ratio of 0.75%.
Dividends
3NIE.L vs. 3MST.L - Dividend Comparison
Neither 3NIE.L nor 3MST.L has paid dividends to shareholders.
Frequently Asked Questions
3NIE.L and 3MST.L have a correlation of 0.12, 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 3MST.L have the same expense ratio: 0.75% per year.
3NIE.L tracks iSTOXX Leveraged 3x NIO Index, while 3MST.L tracks Euronext 3x Long MicroStrategy Index.
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