3NVD.L vs. MSTI.L
3NVD.L (Leverage Shares 3x NVIDIA ETP Securities GBP) and MSTI.L (IncomeShares Microstrategy (MSTR) Options ETP) are both exchange-traded funds - 3NVD.L is a Leveraged Equities fund tracking the iSTOXX Leveraged 3X NVDA Index, while MSTI.L is a Derivative Income fund actively managed by Leverage Shares. 3NVD.L is passively managed, while MSTI.L is actively managed. At a 0.24 correlation, their price movements are largely independent. 3NVD.L charges 0.75%/yr vs 0.55%/yr for MSTI.L.
Performance
3NVD.L vs. MSTI.L - Performance Comparison
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Different Trading Currencies
3NVD.L is traded in GBp, while MSTI.L is traded in USD. To make them comparable, the MSTI.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 21.43% return, which is significantly higher than MSTI.L's -54.92% return.
3NVD.L
- 1D
- 0.65%
- 1M
- 27.20%
- YTD
- 21.43%
- 6M
- 27.54%
- 1Y
- 119.15%
- 3Y*
- 134.91%
- 5Y*
- 82.55%
- 10Y*
- —
MSTI.L
- 1D
- -3.56%
- 1M
- -35.57%
- YTD
- -54.92%
- 6M
- -60.84%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
3NVD.L vs. MSTI.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
3NVD.L Leverage Shares 3x NVIDIA ETP Securities GBP | 21.43% | 35.58% |
MSTI.L IncomeShares Microstrategy (MSTR) Options ETP | -54.92% | -60.65% |
Correlation
The correlation between 3NVD.L and MSTI.L is 0.24, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since Jul 1, 2025 | 0.24 |
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Return for Risk
3NVD.L vs. MSTI.L — Risk / Return Rank
3NVD.L
MSTI.L
3NVD.L vs. MSTI.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 IncomeShares Microstrategy (MSTR) Options ETP (MSTI.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 | MSTI.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | 1.23 | — | — |
| Calmar ratioReturn relative to maximum drawdown | 2.03 | — | — |
| Martin ratioReturn relative to average drawdown | 4.06 | — | — |
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 | MSTI.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.18 | — | — |
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 | -1.35 | +2.07 |
Drawdowns
3NVD.L vs. MSTI.L - Drawdown Comparison
The maximum 3NVD.L drawdown since its inception was -98.48%, which is greater than MSTI.L's maximum drawdown of -85.28%. Use the drawdown chart below to compare losses from any high point for 3NVD.L and MSTI.L.
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Drawdown Indicators
| 3NVD.L | MSTI.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -98.48% | -85.28% | -13.20% |
Max Drawdown (1Y)Largest decline over 1 year | -58.47% | — | — |
Max Drawdown (3Y)Largest decline over 3 years | -89.34% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -98.48% | — | — |
Current DrawdownCurrent decline from peak | -37.93% | -85.28% | +47.35% |
Average DrawdownAverage peak-to-trough decline | -53.00% | -52.73% | -0.27% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 29.23% | — | — |
Volatility
3NVD.L vs. MSTI.L - Volatility Comparison
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Volatility by Period
| 3NVD.L | MSTI.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 36.37% | — | — |
Volatility (6M)Calculated over the trailing 6-month period | 69.15% | — | — |
Volatility (1Y)Calculated over the trailing 1-year period | 100.68% | 62.57% | +38.11% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 146.01% | 62.57% | +83.44% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 146.51% | 62.57% | +83.94% |
3NVD.L vs. MSTI.L - Expense Ratio Comparison
3NVD.L has a 0.75% expense ratio, which is higher than MSTI.L's 0.55% expense ratio.
Dividends
3NVD.L vs. MSTI.L - Dividend Comparison
3NVD.L has not paid dividends to shareholders, while MSTI.L's dividend yield for the trailing twelve months is around 1.50%.
| Position | TTM | 2025 |
|---|---|---|
3NVD.L Leverage Shares 3x NVIDIA ETP Securities GBP | 0.00% | 0.00% |
MSTI.L IncomeShares Microstrategy (MSTR) Options ETP | 1.50% | 0.16% |
Frequently Asked Questions
3NVD.L and MSTI.L have a correlation of 0.24, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, MSTI.L is cheaper at 0.55% per year. The better choice depends on whether you care most about return, fees, risk, or income.
MSTI.L is cheaper with a 0.55% expense ratio, compared with 0.75% for 3NVD.L.
3NVD.L is categorized as Leveraged Equities, while MSTI.L is Derivative Income. Their fees differ too: 0.75% for 3NVD.L and 0.55% for MSTI.L.
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