3USL.L vs. LUK2.L
3USL.L (WisdomTree S&P 500 3x Daily Leveraged GB) and LUK2.L (L&G FTSE 100 Leveraged (Daily 2x) UCITS ETF GBP (Acc)) are both Leveraged Equities funds - 3USL.L tracks the S&P 500 Net Total Returns Index while LUK2.L tracks the FTSE 100 Daily Leveraged Index. Both are passively managed. Over the past 10 years, 3USL.L returned 26.94%/yr vs 10.80%/yr for LUK2.L. A 0.66 correlation means they provide meaningful diversification when combined. 3USL.L charges 0.75%/yr vs 0.50%/yr for LUK2.L.
Performance
3USL.L vs. LUK2.L - Performance Comparison
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Different Trading Currencies
3USL.L is traded in USD, while LUK2.L is traded in GBp. To make them comparable, the LUK2.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 18.25% return, which is significantly higher than LUK2.L's 12.79% return. Over the past 10 years, 3USL.L has outperformed LUK2.L with an annualized return of 26.94%, while LUK2.L has yielded a comparatively lower 10.80% annualized return.
3USL.L
- 1D
- -3.71%
- 1M
- -2.60%
- 6M
- 15.76%
- YTD
- 18.25%
- 1Y
- 46.64%
- 3Y*
- 40.34%
- 5Y*
- 18.89%
- 10Y*
- 26.94%
LUK2.L
- 1D
- 0.46%
- 1M
- 2.55%
- 6M
- 7.10%
- YTD
- 12.79%
- 1Y
- 36.40%
- 3Y*
- 25.34%
- 5Y*
- 16.78%
- 10Y*
- 10.80%
3USL.L vs. LUK2.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
3USL.L WisdomTree S&P 500 3x Daily Leveraged GB | 18.25% | 28.97% | 63.99% | 70.50% | -57.35% | 101.78% | 7.90% | 97.95% | -26.23% | 66.85% |
LUK2.L L&G FTSE 100 Leveraged (Daily 2x) UCITS ETF GBP (Acc) | 12.79% | 54.57% | 7.98% | 12.21% | -7.34% | 33.53% | -28.30% | 37.83% | -25.19% | 33.91% |
Correlation
The correlation between 3USL.L and LUK2.L is 0.51, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.51 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.50 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.59 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.64 |
Correlation (All Time) Calculated using the full available price history since Dec 13, 2012 | 0.66 |
The correlation between 3USL.L and LUK2.L shifts across timeframes, from 0.50 (3 years) to 0.66 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
3USL.L vs. LUK2.L — Risk / Return Rank
3USL.L
LUK2.L
3USL.L vs. LUK2.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 L&G FTSE 100 Leveraged (Daily 2x) UCITS ETF GBP (Acc) (LUK2.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 | LUK2.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.21 | ||
| Sortino ratioReturn per unit of downside risk | -0.14 | ||
| Omega ratioGain probability vs. loss probability | 1.23 | 1.27 | -0.04 |
| Calmar ratioReturn relative to maximum drawdown | 1.84 | 1.92 | -0.08 |
| Martin ratioReturn relative to average drawdown | 6.87 | 5.46 | +1.42 |
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Drawdowns
3USL.L vs. LUK2.L - Drawdown Comparison
The maximum 3USL.L drawdown since its inception was -76.72%, which is greater than LUK2.L's maximum drawdown of -64.37%. Use the drawdown chart below to compare losses from any high point for 3USL.L and LUK2.L.
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Drawdown Indicators
| 3USL.L | LUK2.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -76.72% | -64.37% | -12.35% |
Max Drawdown (1Y)Largest decline over 1 year | -25.29% | -18.89% | -6.40% |
Max Drawdown (3Y)Largest decline over 3 years | -48.69% | -25.12% | -23.57% |
Max Drawdown (5Y)Largest decline over 5 years | -63.46% | -34.17% | -29.29% |
Max Drawdown (10Y)Largest decline over 10 years | -76.72% | -64.37% | -12.35% |
Current DrawdownCurrent decline from peak | -7.22% | -6.38% | -0.84% |
Average DrawdownAverage peak-to-trough decline | -14.68% | -13.04% | -1.64% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 6.77% | 6.65% | +0.12% |
Volatility
3USL.L vs. LUK2.L - Volatility Comparison
WisdomTree S&P 500 3x Daily Leveraged GB (3USL.L) has a higher volatility of 9.48% compared to L&G FTSE 100 Leveraged (Daily 2x) UCITS ETF GBP (Acc) (LUK2.L) at 5.99%. This indicates that 3USL.L's price experiences larger fluctuations and is considered to be riskier than LUK2.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 | LUK2.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 9.48% | 5.99% | +3.49% |
Volatility (6M)Calculated over the trailing 6-month period | 27.92% | 20.97% | +6.95% |
Volatility (1Y)Calculated over the trailing 1-year period | 36.02% | 24.17% | +11.85% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 47.64% | 28.28% | +19.36% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 48.40% | 31.33% | +17.07% |
3USL.L vs. LUK2.L - Expense Ratio Comparison
3USL.L has a 0.75% expense ratio, which is higher than LUK2.L's 0.50% expense ratio.
Dividends
3USL.L vs. LUK2.L - Dividend Comparison
Neither 3USL.L nor LUK2.L has paid dividends to shareholders.
Frequently Asked Questions
3USL.L and LUK2.L have a correlation of 0.51, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, LUK2.L is cheaper at 0.50% per year. The better choice depends on whether you care most about return, fees, risk, or income.
LUK2.L is cheaper with a 0.50% expense ratio, compared with 0.75% for 3USL.L.
3USL.L tracks S&P 500 Net Total Returns Index, while LUK2.L tracks FTSE 100 Daily Leveraged Index. They also come from different issuers: WisdomTree and L&G. Their fees differ too: 0.75% for 3USL.L and 0.50% for LUK2.L.
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