3USL.L vs. COMX.L
3USL.L (WisdomTree S&P 500 3x Daily Leveraged GB) and COMX.L (WisdomTree Broad Commodities UCITS ETF) are both exchange-traded funds - 3USL.L is a Leveraged Equities fund tracking the S&P 500 Net Total Returns Index, while COMX.L is a Commodities fund tracking the Bloomberg Commodity. Both are passively managed. Over the past 3 years, 3USL.L returned 42.60%/yr vs 12.73%/yr for COMX.L. At a 0.10 correlation, their price movements are largely independent. 3USL.L charges 0.75%/yr vs 0.19%/yr for COMX.L.
Performance
3USL.L vs. COMX.L - Performance Comparison
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Different Trading Currencies
3USL.L is traded in USD, while COMX.L is traded in GBp. To make them comparable, the COMX.L values have been converted to USD using the latest available exchange rates.
Returns By Period
In the year-to-date period, 3USL.L achieves a 22.59% return, which is significantly higher than COMX.L's 20.49% return.
3USL.L
- 1D
- 0.64%
- 1M
- -1.12%
- 6M
- 21.60%
- YTD
- 22.59%
- 1Y
- 53.10%
- 3Y*
- 42.60%
- 5Y*
- 19.75%
- 10Y*
- 27.42%
COMX.L
- 1D
- 0.72%
- 1M
- 2.14%
- 6M
- 15.81%
- YTD
- 20.49%
- 1Y
- 31.19%
- 3Y*
- 12.73%
- 5Y*
- —
- 10Y*
- —
3USL.L vs. COMX.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
3USL.L WisdomTree S&P 500 3x Daily Leveraged GB | 22.59% | 28.97% | 63.99% | 70.50% | -57.35% | 11.10% |
COMX.L WisdomTree Broad Commodities UCITS ETF | 20.49% | 16.77% | 4.47% | -7.89% | 15.00% | -24.47% |
Correlation
The correlation between 3USL.L and COMX.L is -0.13, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.13 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.01 |
Correlation (All Time) Calculated using the full available price history since Nov 29, 2021 | 0.10 |
The correlation between 3USL.L and COMX.L shifts across timeframes, from -0.13 (1 year) to 0.10 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
3USL.L vs. COMX.L — Risk / Return Rank
3USL.L
COMX.L
3USL.L vs. COMX.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for WisdomTree S&P 500 3x Daily Leveraged GB (3USL.L) and WisdomTree Broad Commodities UCITS ETF (COMX.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.
| 3USL.L | COMX.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.27 | ||
| Sortino ratioReturn per unit of downside risk | -0.10 | ||
| Omega ratioGain probability vs. loss probability | 1.25 | 1.30 | -0.05 |
| Calmar ratioReturn relative to maximum drawdown | 2.09 | 2.14 | -0.05 |
| Martin ratioReturn relative to average drawdown | 7.85 | 6.74 | +1.11 |
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Drawdowns
3USL.L vs. COMX.L - Drawdown Comparison
The maximum 3USL.L drawdown since its inception was -76.72%, which is greater than COMX.L's maximum drawdown of -27.78%. Use the drawdown chart below to compare losses from any high point for 3USL.L and COMX.L.
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Drawdown Indicators
| 3USL.L | COMX.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -76.72% | -27.78% | -48.94% |
Max Drawdown (1Y)Largest decline over 1 year | -25.29% | -14.52% | -10.77% |
Max Drawdown (3Y)Largest decline over 3 years | -48.69% | -14.52% | -34.17% |
Max Drawdown (5Y)Largest decline over 5 years | -63.46% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -76.72% | — | — |
Current DrawdownCurrent decline from peak | -3.82% | -8.67% | +4.85% |
Average DrawdownAverage peak-to-trough decline | -14.68% | -15.83% | +1.15% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 6.75% | 4.62% | +2.13% |
Volatility
3USL.L vs. COMX.L - Volatility Comparison
WisdomTree S&P 500 3x Daily Leveraged GB (3USL.L) has a higher volatility of 8.83% compared to WisdomTree Broad Commodities UCITS ETF (COMX.L) at 4.55%. This indicates that 3USL.L's price experiences larger fluctuations and is considered to be riskier than COMX.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| 3USL.L | COMX.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 8.83% | 4.55% | +4.28% |
Volatility (6M)Calculated over the trailing 6-month period | 27.74% | 15.94% | +11.80% |
Volatility (1Y)Calculated over the trailing 1-year period | 35.86% | 17.82% | +18.04% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 47.63% | 20.82% | +26.81% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 48.40% | 20.82% | +27.58% |
3USL.L vs. COMX.L - Expense Ratio Comparison
3USL.L has a 0.75% expense ratio, which is higher than COMX.L's 0.19% expense ratio.
Dividends
3USL.L vs. COMX.L - Dividend Comparison
Neither 3USL.L nor COMX.L has paid dividends to shareholders.
Frequently Asked Questions
3USL.L and COMX.L have a correlation of -0.13, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, COMX.L is cheaper at 0.19% per year. The better choice depends on whether you care most about return, fees, risk, or income.
COMX.L is cheaper with a 0.19% expense ratio, compared with 0.75% for 3USL.L.
3USL.L is categorized as Leveraged Equities, while COMX.L is Commodities. 3USL.L tracks S&P 500 Net Total Returns Index, while COMX.L tracks Bloomberg Commodity. Their fees differ too: 0.75% for 3USL.L and 0.19% for COMX.L.
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