3SLV.DE vs. SMST.L
3SLV.DE (Leverage Shares 3x Long Silver ETP Securities) and SMST.L (Leverage Shares -3x Short MicroStrategy ETP) are both exchange-traded funds - 3SLV.DE is a Silver fund tracking the iShares Silver Trust (3x), while SMST.L is a Inverse Equities fund managed by Leverage Shares. Over the past year, 3SLV.DE returned 139.25% vs 52.35% for SMST.L. At a correlation of -0.12, they often move in opposite directions. Both charge a 0.75% expense ratio.
Performance
3SLV.DE vs. SMST.L - Performance Comparison
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Different Trading Currencies
3SLV.DE is traded in EUR, while SMST.L is traded in GBP. To make them comparable, the SMST.L values have been converted to EUR using the latest available exchange rates.
Returns By Period
The year-to-date returns for both investments are quite close, with 3SLV.DE having a -68.66% return and SMST.L slightly higher at -67.45%.
3SLV.DE
- 1D
- 1.15%
- 1M
- -7.44%
- YTD
- -68.66%
- 6M
- -31.83%
- 1Y
- 139.25%
- 3Y*
- 44.22%
- 5Y*
- —
- 10Y*
- —
SMST.L
- 1D
- 4.97%
- 1M
- 144.21%
- YTD
- -67.45%
- 6M
- -49.26%
- 1Y
- 52.35%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
3SLV.DE vs. SMST.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
3SLV.DE Leverage Shares 3x Long Silver ETP Securities | -68.66% | 826.65% | -27.17% |
SMST.L Leverage Shares -3x Short MicroStrategy ETP | -67.45% | 8,677.32% | -98.45% |
Correlation
The correlation between 3SLV.DE and SMST.L is -0.08, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.08 |
Correlation (All Time) Calculated using the full available price history since Sep 27, 2024 | -0.12 |
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Return for Risk
3SLV.DE vs. SMST.L — Risk / Return Rank
3SLV.DE
SMST.L
3SLV.DE vs. SMST.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Leverage Shares 3x Long Silver ETP Securities (3SLV.DE) and Leverage Shares -3x Short MicroStrategy ETP (SMST.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.
| 3SLV.DE | SMST.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.56 | ||
| Sortino ratioReturn per unit of downside risk | +0.21 | ||
| Omega ratioGain probability vs. loss probability | 1.32 | 1.24 | +0.08 |
| Calmar ratioReturn relative to maximum drawdown | 1.54 | 0.56 | +0.98 |
| Martin ratioReturn relative to average drawdown | 2.76 | 1.09 | +1.67 |
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
| 3SLV.DE | SMST.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.82 | 0.26 | +0.56 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.36 | -0.00 | +0.36 |
Drawdowns
3SLV.DE vs. SMST.L - Drawdown Comparison
The maximum 3SLV.DE drawdown since its inception was -89.93%, smaller than the maximum SMST.L drawdown of -99.26%. Use the drawdown chart below to compare losses from any high point for 3SLV.DE and SMST.L.
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Drawdown Indicators
| 3SLV.DE | SMST.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -89.93% | -99.26% | +9.33% |
Max Drawdown (1Y)Largest decline over 1 year | -89.93% | -93.20% | +3.27% |
Max Drawdown (3Y)Largest decline over 3 years | -89.93% | — | — |
Current DrawdownCurrent decline from peak | -89.11% | -92.26% | +3.15% |
Average DrawdownAverage peak-to-trough decline | -29.44% | -80.83% | +51.39% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 50.24% | 48.09% | +2.15% |
Volatility
3SLV.DE vs. SMST.L - Volatility Comparison
The current volatility for Leverage Shares 3x Long Silver ETP Securities (3SLV.DE) is 51.33%, while Leverage Shares -3x Short MicroStrategy ETP (SMST.L) has a volatility of 55.70%. This indicates that 3SLV.DE experiences smaller price fluctuations and is considered to be less risky than SMST.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| 3SLV.DE | SMST.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 51.33% | 55.70% | -4.37% |
Volatility (6M)Calculated over the trailing 6-month period | 176.71% | 176.56% | +0.15% |
Volatility (1Y)Calculated over the trailing 1-year period | 169.84% | 202.67% | -32.83% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 111.76% | 19,077.57% | -18,965.81% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 111.76% | 19,077.57% | -18,965.81% |
3SLV.DE vs. SMST.L - Expense Ratio Comparison
Both 3SLV.DE and SMST.L have an expense ratio of 0.75%.
Dividends
3SLV.DE vs. SMST.L - Dividend Comparison
Neither 3SLV.DE nor SMST.L has paid dividends to shareholders.
Frequently Asked Questions
3SLV.DE and SMST.L have a correlation of -0.08, 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.
3SLV.DE and SMST.L have the same expense ratio: 0.75% per year.
3SLV.DE is categorized as Silver, while SMST.L is Inverse Equities.
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