3NVD.L vs. 3SPY.L
3NVD.L (Leverage Shares 3x NVIDIA ETP Securities GBP) and 3SPY.L (Leverage Shares 3x Long US 500 ETP Securities) are both Leveraged Equities funds from Leverage Shares. 3NVD.L is passively managed, while 3SPY.L is actively managed. Over the past 3 years, 3NVD.L returned 132.01%/yr vs 38.65%/yr for 3SPY.L. A 0.63 correlation means they provide meaningful diversification when combined. 3NVD.L charges 0.75%/yr vs 0.01%/yr for 3SPY.L.
Performance
3NVD.L vs. 3SPY.L - Performance Comparison
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Different Trading Currencies
3NVD.L is traded in GBp, while 3SPY.L is traded in USD. To make them comparable, the 3SPY.L values have been converted to GBp using the latest available exchange rates.
Returns By Period
In the year-to-date period, 3NVD.L achieves a 20.65% return, which is significantly lower than 3SPY.L's 24.80% return.
3NVD.L
- 1D
- -12.40%
- 1M
- 23.64%
- YTD
- 20.65%
- 6M
- 30.05%
- 1Y
- 114.77%
- 3Y*
- 132.01%
- 5Y*
- 82.31%
- 10Y*
- —
3SPY.L
- 1D
- -0.79%
- 1M
- 15.24%
- YTD
- 24.80%
- 6M
- 23.61%
- 1Y
- 74.64%
- 3Y*
- 38.65%
- 5Y*
- —
- 10Y*
- —
3NVD.L vs. 3SPY.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
3NVD.L Leverage Shares 3x NVIDIA ETP Securities GBP | 20.65% | -12.14% | 735.89% | 1,729.24% | -76.02% |
3SPY.L Leverage Shares 3x Long US 500 ETP Securities | 24.80% | 4.37% | 66.60% | 50.33% | -39.40% |
Correlation
The correlation between 3NVD.L and 3SPY.L is 0.63, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.63 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.63 |
Correlation (All Time) Calculated using the full available price history since Jun 7, 2022 | 0.63 |
The correlation between 3NVD.L and 3SPY.L has been stable across timeframes, ranging from 0.63 to 0.63 - a consistent structural relationship.
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Return for Risk
3NVD.L vs. 3SPY.L — Risk / Return Rank
3NVD.L
3SPY.L
3NVD.L vs. 3SPY.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Leverage Shares 3x NVIDIA ETP Securities GBP (3NVD.L) and Leverage Shares 3x Long US 500 ETP Securities (3SPY.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.
| 3NVD.L | 3SPY.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.23 | ||
| Sortino ratioReturn per unit of downside risk | -0.29 | ||
| Omega ratioGain probability vs. loss probability | 1.23 | 1.38 | -0.15 |
| Calmar ratioReturn relative to maximum drawdown | 1.95 | 1.81 | +0.14 |
| Martin ratioReturn relative to average drawdown | 3.92 | 3.61 | +0.31 |
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
| 3NVD.L | 3SPY.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.13 | 1.36 | -0.23 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.57 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.72 | 0.36 | +0.35 |
Drawdowns
3NVD.L vs. 3SPY.L - Drawdown Comparison
The maximum 3NVD.L drawdown since its inception was -98.48%, which is greater than 3SPY.L's maximum drawdown of -58.02%. Use the drawdown chart below to compare losses from any high point for 3NVD.L and 3SPY.L.
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Drawdown Indicators
| 3NVD.L | 3SPY.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -98.48% | -58.02% | -40.46% |
Max Drawdown (1Y)Largest decline over 1 year | -58.47% | -41.04% | -17.43% |
Max Drawdown (3Y)Largest decline over 3 years | -89.34% | -58.02% | -31.32% |
Max Drawdown (5Y)Largest decline over 5 years | -98.48% | — | — |
Current DrawdownCurrent decline from peak | -38.33% | -7.88% | -30.45% |
Average DrawdownAverage peak-to-trough decline | -53.01% | -20.57% | -32.44% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 29.19% | 20.60% | +8.59% |
Volatility
3NVD.L vs. 3SPY.L - Volatility Comparison
Leverage Shares 3x NVIDIA ETP Securities GBP (3NVD.L) has a higher volatility of 36.52% compared to Leverage Shares 3x Long US 500 ETP Securities (3SPY.L) at 8.84%. This indicates that 3NVD.L's price experiences larger fluctuations and is considered to be riskier than 3SPY.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| 3NVD.L | 3SPY.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 36.52% | 8.84% | +27.68% |
Volatility (6M)Calculated over the trailing 6-month period | 69.21% | 23.28% | +45.93% |
Volatility (1Y)Calculated over the trailing 1-year period | 101.34% | 54.71% | +46.63% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 146.09% | 51.40% | +94.69% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 146.56% | 51.40% | +95.16% |
3NVD.L vs. 3SPY.L - Expense Ratio Comparison
3NVD.L has a 0.75% expense ratio, which is higher than 3SPY.L's 0.01% expense ratio.
Dividends
3NVD.L vs. 3SPY.L - Dividend Comparison
Neither 3NVD.L nor 3SPY.L has paid dividends to shareholders.
Frequently Asked Questions
3NVD.L and 3SPY.L have a correlation of 0.63, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, 3SPY.L is cheaper at 0.01% per year. The better choice depends on whether you care most about return, fees, risk, or income.
3SPY.L is cheaper with a 0.01% expense ratio, compared with 0.75% for 3NVD.L.
Their fees differ too: 0.75% for 3NVD.L and 0.01% for 3SPY.L.
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