3USL.L vs. GLDW.L
3USL.L (WisdomTree S&P 500 3x Daily Leveraged GB) and GLDW.L (WisdomTree Core Physical Gold) are both exchange-traded funds - 3USL.L is a Leveraged Equities fund tracking the S&P 500 Net Total Returns Index, while GLDW.L is a Precious Metals fund tracking the Gold. Both are passively managed. Over the past 5 years, 3USL.L returned 22.25%/yr vs 18.61%/yr for GLDW.L. At a 0.08 correlation, their price movements are largely independent. 3USL.L charges 0.75%/yr vs 0.12%/yr for GLDW.L.
Performance
3USL.L vs. GLDW.L - Performance Comparison
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Different Trading Currencies
3USL.L is traded in USD, while GLDW.L is traded in GBp. To make them comparable, the GLDW.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 25.13% return, which is significantly higher than GLDW.L's 3.71% return.
3USL.L
- 1D
- -0.02%
- 1M
- 12.76%
- YTD
- 25.13%
- 6M
- 26.49%
- 1Y
- 77.77%
- 3Y*
- 50.50%
- 5Y*
- 22.25%
- 10Y*
- 28.49%
GLDW.L
- 1D
- 0.68%
- 1M
- -2.18%
- YTD
- 3.71%
- 6M
- 6.15%
- 1Y
- 32.41%
- 3Y*
- 31.46%
- 5Y*
- 18.61%
- 10Y*
- —
3USL.L vs. GLDW.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
3USL.L WisdomTree S&P 500 3x Daily Leveraged GB | 25.13% | 28.97% | 64.00% | 70.49% | -57.35% | 73.60% |
GLDW.L WisdomTree Core Physical Gold | 3.71% | 65.15% | 26.05% | 12.92% | -0.13% | 6.27% |
Correlation
The correlation between 3USL.L and GLDW.L is 0.25, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.25 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.12 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.08 |
Correlation (All Time) Calculated using the full available price history since Mar 16, 2021 | 0.08 |
The correlation between 3USL.L and GLDW.L shifts across timeframes, from 0.08 (5 years) to 0.25 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
3USL.L vs. GLDW.L — Risk / Return Rank
3USL.L
GLDW.L
3USL.L vs. GLDW.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 Core Physical Gold (GLDW.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.
| 3USL.L | GLDW.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.91 | ||
| Sortino ratioReturn per unit of downside risk | +1.15 | ||
| Omega ratioGain probability vs. loss probability | 1.36 | 1.25 | +0.11 |
| Calmar ratioReturn relative to maximum drawdown | 3.06 | 1.82 | +1.24 |
| Martin ratioReturn relative to average drawdown | 12.28 | 4.75 | +7.54 |
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
| 3USL.L | GLDW.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.25 | 1.34 | +0.91 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.47 | 1.07 | -0.60 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.59 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.60 | 1.16 | -0.57 |
Drawdowns
3USL.L vs. GLDW.L - Drawdown Comparison
The maximum 3USL.L drawdown since its inception was -76.72%, which is greater than GLDW.L's maximum drawdown of -21.42%. Use the drawdown chart below to compare losses from any high point for 3USL.L and GLDW.L.
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Drawdown Indicators
| 3USL.L | GLDW.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -76.72% | -21.42% | -55.30% |
Max Drawdown (1Y)Largest decline over 1 year | -25.29% | -17.74% | -7.55% |
Max Drawdown (3Y)Largest decline over 3 years | -48.69% | -17.74% | -30.95% |
Max Drawdown (5Y)Largest decline over 5 years | -63.47% | -21.42% | -42.05% |
Max Drawdown (10Y)Largest decline over 10 years | -76.72% | — | — |
Current DrawdownCurrent decline from peak | -1.82% | -15.82% | +14.00% |
Average DrawdownAverage peak-to-trough decline | -15.26% | -5.39% | -9.87% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 6.31% | 6.81% | -0.50% |
Volatility
3USL.L vs. GLDW.L - Volatility Comparison
WisdomTree S&P 500 3x Daily Leveraged GB (3USL.L) has a higher volatility of 9.42% compared to WisdomTree Core Physical Gold (GLDW.L) at 5.73%. This indicates that 3USL.L's price experiences larger fluctuations and is considered to be riskier than GLDW.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 | GLDW.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 9.42% | 5.73% | +3.69% |
Volatility (6M)Calculated over the trailing 6-month period | 25.26% | 20.82% | +4.44% |
Volatility (1Y)Calculated over the trailing 1-year period | 34.36% | 24.07% | +10.29% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 47.39% | 17.35% | +30.04% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 48.51% | 17.18% | +31.33% |
3USL.L vs. GLDW.L - Expense Ratio Comparison
3USL.L has a 0.75% expense ratio, which is higher than GLDW.L's 0.12% expense ratio.
Dividends
3USL.L vs. GLDW.L - Dividend Comparison
Neither 3USL.L nor GLDW.L has paid dividends to shareholders.
Frequently Asked Questions
3USL.L and GLDW.L have a correlation of 0.25, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, GLDW.L is cheaper at 0.12% per year. The better choice depends on whether you care most about return, fees, risk, or income.
GLDW.L is cheaper with a 0.12% expense ratio, compared with 0.75% for 3USL.L.
3USL.L is categorized as Leveraged Equities, while GLDW.L is Precious Metals. 3USL.L tracks S&P 500 Net Total Returns Index, while GLDW.L tracks Gold. Their fees differ too: 0.75% for 3USL.L and 0.12% for GLDW.L.
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