3VT.L vs. 3SPY.L
3VT.L (Leverage Shares 3x Long Total World ETP Securities GBP) and 3SPY.L (Leverage Shares 3x Long US 500 ETP Securities) are both Leveraged Equities funds from Leverage Shares. Both are actively managed. Over the past 3 years, 3VT.L returned 37.91%/yr vs 38.65%/yr for 3SPY.L. Their correlation of 0.81 suggests significant overlap in exposure. 3VT.L charges 0.75%/yr vs 0.01%/yr for 3SPY.L.
Performance
3VT.L vs. 3SPY.L - Performance Comparison
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Different Trading Currencies
3VT.L is traded in GBp, while 3SPY.L is traded in USD. To make them comparable, the 3SPY.L values have been converted to GBp using the latest available exchange rates.
Returns By Period
In the year-to-date period, 3VT.L achieves a 27.78% return, which is significantly higher than 3SPY.L's 24.80% return.
3VT.L
- 1D
- -1.52%
- 1M
- 12.90%
- YTD
- 27.78%
- 6M
- 30.70%
- 1Y
- 75.80%
- 3Y*
- 37.91%
- 5Y*
- —
- 10Y*
- —
3SPY.L
- 1D
- -0.79%
- 1M
- 15.24%
- YTD
- 24.80%
- 6M
- 23.61%
- 1Y
- 74.64%
- 3Y*
- 38.65%
- 5Y*
- —
- 10Y*
- —
3VT.L vs. 3SPY.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
3VT.L Leverage Shares 3x Long Total World ETP Securities GBP | 27.78% | 28.59% | 32.38% | 43.18% | -28.08% |
3SPY.L Leverage Shares 3x Long US 500 ETP Securities | 24.80% | 4.37% | 66.60% | 50.33% | -39.40% |
Correlation
The correlation between 3VT.L and 3SPY.L is 0.82, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.82 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.84 |
Correlation (All Time) Calculated using the full available price history since Jun 7, 2022 | 0.81 |
The correlation between 3VT.L and 3SPY.L has been stable across timeframes, ranging from 0.81 to 0.83 - a consistent structural relationship.
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Return for Risk
3VT.L vs. 3SPY.L — Risk / Return Rank
3VT.L
3SPY.L
3VT.L vs. 3SPY.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Leverage Shares 3x Long Total World ETP Securities GBP (3VT.L) and Leverage Shares 3x Long US 500 ETP Securities (3SPY.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.
| 3VT.L | 3SPY.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.72 | ||
| Sortino ratioReturn per unit of downside risk | +0.50 | ||
| Omega ratioGain probability vs. loss probability | 1.35 | 1.38 | -0.03 |
| Calmar ratioReturn relative to maximum drawdown | 2.85 | 1.81 | +1.04 |
| Martin ratioReturn relative to average drawdown | 10.77 | 3.61 | +7.16 |
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
| 3VT.L | 3SPY.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.08 | 1.36 | +0.72 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.24 | 0.36 | -0.12 |
Drawdowns
3VT.L vs. 3SPY.L - Drawdown Comparison
The maximum 3VT.L drawdown since its inception was -58.87%, roughly equal to the maximum 3SPY.L drawdown of -58.02%. Use the drawdown chart below to compare losses from any high point for 3VT.L and 3SPY.L.
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Drawdown Indicators
| 3VT.L | 3SPY.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -58.87% | -58.02% | -0.85% |
Max Drawdown (1Y)Largest decline over 1 year | -26.47% | -41.04% | +14.57% |
Max Drawdown (3Y)Largest decline over 3 years | -46.37% | -58.02% | +11.65% |
Current DrawdownCurrent decline from peak | -1.52% | -7.88% | +6.36% |
Average DrawdownAverage peak-to-trough decline | -25.23% | -20.57% | -4.66% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 7.02% | 20.60% | -13.58% |
Volatility
3VT.L vs. 3SPY.L - Volatility Comparison
Leverage Shares 3x Long Total World ETP Securities GBP (3VT.L) has a higher volatility of 10.47% compared to Leverage Shares 3x Long US 500 ETP Securities (3SPY.L) at 8.84%. This indicates that 3VT.L's price experiences larger fluctuations and is considered to be riskier than 3SPY.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| 3VT.L | 3SPY.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 10.47% | 8.84% | +1.63% |
Volatility (6M)Calculated over the trailing 6-month period | 28.81% | 23.28% | +5.53% |
Volatility (1Y)Calculated over the trailing 1-year period | 36.37% | 54.71% | -18.34% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 47.86% | 51.40% | -3.54% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 47.86% | 51.40% | -3.54% |
3VT.L vs. 3SPY.L - Expense Ratio Comparison
3VT.L has a 0.75% expense ratio, which is higher than 3SPY.L's 0.01% expense ratio.
Dividends
3VT.L vs. 3SPY.L - Dividend Comparison
Neither 3VT.L nor 3SPY.L has paid dividends to shareholders.
Frequently Asked Questions
3VT.L and 3SPY.L have a correlation of 0.82, 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 0.75% for 3VT.L.
Their fees differ too: 0.75% for 3VT.L and 0.01% for 3SPY.L.
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