3SPY.L vs. RKLX
3SPY.L (Leverage Shares 3x Long US 500 ETP Securities) and RKLX (Defiance Daily Target 2X Long RKLB ETF) are both Leveraged Equities funds. Both are actively managed. Over the past year, 3SPY.L returned 46.65% vs -4.80% for RKLX. At a 0.26 correlation, their price movements are largely independent. 3SPY.L charges 0.01%/yr vs 1.29%/yr for RKLX.
Performance
3SPY.L vs. RKLX - Performance Comparison
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Returns By Period
In the year-to-date period, 3SPY.L achieves a 20.82% return, which is significantly higher than RKLX's -39.48% return.
3SPY.L
- 1D
- 0.00%
- 1M
- -1.44%
- 6M
- 19.97%
- YTD
- 20.82%
- 1Y
- 46.65%
- 3Y*
- 36.44%
- 5Y*
- —
- 10Y*
- —
RKLX
- 1D
- -6.63%
- 1M
- -55.98%
- 6M
- -63.97%
- YTD
- -39.48%
- 1Y
- -4.80%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
3SPY.L vs. RKLX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
3SPY.L Leverage Shares 3x Long US 500 ETP Securities | 20.82% | 43.20% |
RKLX Defiance Daily Target 2X Long RKLB ETF | -39.48% | 579.88% |
Correlation
The correlation between 3SPY.L and RKLX is 0.22, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.22 |
Correlation (All Time) Calculated using the full available price history since Mar 13, 2025 | 0.26 |
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Return for Risk
3SPY.L vs. RKLX — Risk / Return Rank
3SPY.L
RKLX
3SPY.L vs. RKLX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Leverage Shares 3x Long US 500 ETP Securities (3SPY.L) and Defiance Daily Target 2X Long RKLB ETF (RKLX). 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.
| 3SPY.L | RKLX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.87 | ||
| Sortino ratioReturn per unit of downside risk | +0.26 | ||
| Omega ratioGain probability vs. loss probability | 1.26 | 1.16 | +0.10 |
| Calmar ratioReturn relative to maximum drawdown | 1.12 | -0.06 | +1.18 |
| Martin ratioReturn relative to average drawdown | 2.28 | -0.11 | +2.39 |
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Drawdowns
3SPY.L vs. RKLX - Drawdown Comparison
The maximum 3SPY.L drawdown since its inception was -56.70%, smaller than the maximum RKLX drawdown of -78.82%. Use the drawdown chart below to compare losses from any high point for 3SPY.L and RKLX.
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Drawdown Indicators
| 3SPY.L | RKLX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -56.70% | -78.82% | +22.12% |
Max Drawdown (1Y)Largest decline over 1 year | -41.60% | -78.82% | +37.22% |
Max Drawdown (3Y)Largest decline over 3 years | -56.70% | — | — |
Current DrawdownCurrent decline from peak | -9.73% | -78.82% | +69.09% |
Average DrawdownAverage peak-to-trough decline | -20.02% | -28.90% | +8.88% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 20.50% | 42.18% | -21.68% |
Volatility
3SPY.L vs. RKLX - Volatility Comparison
The current volatility for Leverage Shares 3x Long US 500 ETP Securities (3SPY.L) is 8.34%, while Defiance Daily Target 2X Long RKLB ETF (RKLX) has a volatility of 55.50%. This indicates that 3SPY.L experiences smaller price fluctuations and is considered to be less risky than RKLX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| 3SPY.L | RKLX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 8.34% | 55.50% | -47.16% |
Volatility (6M)Calculated over the trailing 6-month period | 25.98% | 142.83% | -116.85% |
Volatility (1Y)Calculated over the trailing 1-year period | 55.58% | 188.18% | -132.60% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 51.59% | 183.90% | -132.31% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 51.59% | 183.90% | -132.31% |
3SPY.L vs. RKLX - Expense Ratio Comparison
3SPY.L has a 0.01% expense ratio, which is lower than RKLX's 1.29% expense ratio.
Dividends
3SPY.L vs. RKLX - Dividend Comparison
3SPY.L has not paid dividends to shareholders, while RKLX's dividend yield for the trailing twelve months is around 24.69%.
| Position | TTM | 2025 |
|---|---|---|
3SPY.L Leverage Shares 3x Long US 500 ETP Securities | 0.00% | 0.00% |
RKLX Defiance Daily Target 2X Long RKLB ETF | 24.69% | 14.94% |
Frequently Asked Questions
3SPY.L and RKLX have a correlation of 0.22, 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 1.29% for RKLX.
They also come from different issuers: Leverage Shares and Defiance. Their fees differ too: 0.01% for 3SPY.L and 1.29% for RKLX.
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