5QQE.L vs. KWE3.L

Last updated Jun 5, 2026

5QQE.L (Leverage Shares 5x Long Nasdaq 100 ETP Securities EUR) and KWE3.L (Leverage Shares 3x Long China Tech ETC Securities) are both exchange-traded funds - 5QQE.L is a Nasdaq-100 fund actively managed by Leverage Shares, while KWE3.L is a Leveraged Equities fund actively managed by Leverage Shares. Both are actively managed. Over the past 3 years, 5QQE.L returned 69.77%/yr vs -36.12%/yr for KWE3.L. At a 0.35 correlation, their price movements are largely independent. Both charge a 0.75% expense ratio.

Performance

5QQE.L vs. KWE3.L - Performance Comparison

The chart below illustrates the hypothetical performance of a €10,000 investment in Leverage Shares 5x Long Nasdaq 100 ETP Securities EUR (5QQE.L) and Leverage Shares 3x Long China Tech ETC Securities (KWE3.L). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

5QQE.L is traded in EUR, while KWE3.L is traded in USD. To make them comparable, the KWE3.L values have been converted to EUR using the latest available exchange rates.

Returns By Period

In the year-to-date period, 5QQE.L achieves a 94.22% return, which is significantly higher than KWE3.L's -57.39% return.

5QQE.L

• 1D: -3.82%
• 1M: 45.57%
• YTD: 94.22%
• 6M: 81.64%
• 1Y: 205.09%
• 3Y*: 69.77%
• 5Y*: —
• 10Y*: —

KWE3.L

• 1D: -1.26%
• 1M: -17.47%
• YTD: -57.39%
• 6M: -62.45%
• 1Y: -60.12%
• 3Y*: -36.12%
• 5Y*: —
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

5QQE.L vs. KWE3.L - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
5QQE.L Leverage Shares 5x Long Nasdaq 100 ETP Securities EUR	94.22%	-9.64%	85.35%	410.76%	-95.87%	10.41%
KWE3.L Leverage Shares 3x Long China Tech ETC Securities	-57.39%	-1.73%	-17.80%	-63.03%	-87.03%	-17.89%

Correlation

The correlation between 5QQE.L and KWE3.L is 0.44, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.44
Correlation (3Y) Calculated over the trailing 3-year period	0.35
Correlation (All Time) Calculated using the full available price history since Dec 17, 2021	0.35

5QQE.L vs. KWE3.L - Sectors Allocation Comparison

Sectors	5QQE.L	KWE3.L
Technology	54.2%	3.6%
Communication Services	15.5%	40.1%
Consumer Cyclical	12.2%	38.4%
Consumer Defensive	7.6%	4.3%
Healthcare	4.2%	6.9%
Industrials	2.8%	-
Utilities	1.4%	-
Basic Materials	1.2%	-
Energy	0.6%	-
Financial Services	0.2%	2.0%
Real Estate	0.1%	4.8%

Return for Risk

5QQE.L vs. KWE3.L — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

5QQE.L

5QQE.L Risk / Return Rank: 67
5QQE.L Sharpe Ratio Rank: 83
5QQE.L Sortino Ratio Rank: 62
5QQE.L Omega Ratio Rank: 59
5QQE.L Calmar Ratio Rank: 74
5QQE.L Martin Ratio Rank: 57

KWE3.L

KWE3.L Risk / Return Rank: 3
KWE3.L Sharpe Ratio Rank: 3
KWE3.L Sortino Ratio Rank: 3
KWE3.L Omega Ratio Rank: 3
KWE3.L Calmar Ratio Rank: 3
KWE3.L Martin Ratio Rank: 2

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

5QQE.L vs. KWE3.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Leverage Shares 5x Long Nasdaq 100 ETP Securities EUR (5QQE.L) and Leverage Shares 3x Long China Tech ETC Securities (KWE3.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.

	5QQE.L	KWE3.L	Difference
Sharpe ratio: Return per unit of total volatility	2.64	-0.75	+3.39
Sortino ratio: Return per unit of downside risk	2.84	-1.06	+3.90
Omega ratio: Gain probability vs. loss probability	1.35	0.89	+0.47
Calmar ratio: Return relative to maximum drawdown	3.64	-0.76	+4.40
Martin ratio: Return relative to average drawdown	9.85	-1.35	+11.21
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

5QQE.L vs. KWE3.L - Sharpe Ratio Comparison

The current 5QQE.L Sharpe Ratio is 2.64, which is higher than the KWE3.L Sharpe Ratio of -0.75. The chart below compares the historical Sharpe Ratios of 5QQE.L and KWE3.L, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	5QQE.L	KWE3.L	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.64	-0.75	+3.39
Sharpe Ratio (All Time) Calculated using the full available price history	-0.05	-0.46	+0.42

Drawdowns

5QQE.L vs. KWE3.L - Drawdown Comparison

The maximum 5QQE.L drawdown since its inception was -96.05%, roughly equal to the maximum KWE3.L drawdown of -98.76%. Use the drawdown chart below to compare losses from any high point for 5QQE.L and KWE3.L.

Drawdown Indicators

	5QQE.L	KWE3.L	Difference
Max Drawdown Largest peak-to-trough decline	-96.05%	-98.76%	+2.71%
Max Drawdown (1Y) Largest decline over 1 year	-56.03%	-78.98%	+22.95%
Max Drawdown (3Y) Largest decline over 3 years	-80.97%	-84.00%	+3.03%
Current Drawdown Current decline from peak	-31.31%	-98.67%	+67.36%
Average Drawdown Average peak-to-trough decline	-74.99%	-90.05%	+15.06%
Ulcer Index Depth and duration of drawdowns from previous peaks	20.72%	44.46%	-23.74%

Volatility

5QQE.L vs. KWE3.L - Volatility Comparison

The current volatility for Leverage Shares 5x Long Nasdaq 100 ETP Securities EUR (5QQE.L) is 24.60%, while Leverage Shares 3x Long China Tech ETC Securities (KWE3.L) has a volatility of 35.79%. This indicates that 5QQE.L experiences smaller price fluctuations and is considered to be less risky than KWE3.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	5QQE.L	KWE3.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	24.60%	35.79%	-11.19%
Volatility (6M) Calculated over the trailing 6-month period	56.93%	60.50%	-3.57%
Volatility (1Y) Calculated over the trailing 1-year period	77.27%	80.13%	-2.86%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	108.77%	134.54%	-25.77%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	108.77%	134.54%	-25.77%

5QQE.L vs. KWE3.L - Expense Ratio Comparison

Both 5QQE.L and KWE3.L have an expense ratio of 0.75%.

Dividends

5QQE.L vs. KWE3.L - Dividend Comparison

Neither 5QQE.L nor KWE3.L has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both 5QQE.L and KWE3.L in my portfolio?

5QQE.L and KWE3.L have a correlation of 0.44, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, 5QQE.L or KWE3.L?

Both ETFs have the same 0.75% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, 5QQE.L or KWE3.L?

5QQE.L and KWE3.L have the same expense ratio: 0.75% per year.

What is the main difference between 5QQE.L and KWE3.L?

5QQE.L is categorized as Nasdaq-100, while KWE3.L is Leveraged Equities.