5SPY.L vs. 3TSM.L

Last updated Jun 5, 2026

5SPY.L (Leverage Shares 5x Long US 500 ETP Securities) and 3TSM.L (Leverage Shares 3x Long Taiwan Semiconductor (TSM) ETP Securities) are both Leveraged Equities funds from Leverage Shares. 5SPY.L is actively managed, while 3TSM.L is passively managed. Over the past 3 years, 5SPY.L returned 55.62%/yr vs 150.80%/yr for 3TSM.L. A 0.58 correlation means they provide meaningful diversification when combined. Both charge a 0.75% expense ratio.

Performance

5SPY.L vs. 3TSM.L - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Leverage Shares 5x Long US 500 ETP Securities (5SPY.L) and Leverage Shares 3x Long Taiwan Semiconductor (TSM) ETP Securities (3TSM.L). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, 5SPY.L achieves a 35.46% return, which is significantly lower than 3TSM.L's 149.88% return.

5SPY.L

• 1D: 0.00%
• 1M: 22.23%
• YTD: 35.46%
• 6M: 35.04%
• 1Y: 119.12%
• 3Y*: 55.62%
• 5Y*: —
• 10Y*: —

3TSM.L

• 1D: 3.09%
• 1M: 41.02%
• YTD: 149.88%
• 6M: 166.79%
• 1Y: 543.00%
• 3Y*: 150.80%
• 5Y*: —
• 10Y*: —

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

5SPY.L vs. 3TSM.L - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
5SPY.L Leverage Shares 5x Long US 500 ETP Securities	35.46%	1.52%	98.06%	100.80%	-80.81%	4.36%
3TSM.L Leverage Shares 3x Long Taiwan Semiconductor (TSM) ETP Securities	149.88%	60.55%	288.94%	90.51%	-85.22%	6.05%

Correlation

The correlation between 5SPY.L and 3TSM.L is 0.64, 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	0.64
Correlation (3Y) Calculated over the trailing 3-year period	0.62
Correlation (All Time) Calculated using the full available price history since Dec 17, 2021	0.58

The correlation between 5SPY.L and 3TSM.L has been stable across timeframes, ranging from 0.58 to 0.64 - a consistent structural relationship.

5SPY.L vs. 3TSM.L - Sectors Allocation Comparison

Sectors	5SPY.L	3TSM.L
Technology	36.2%	100.0%
Financial Services	11.9%	-
Communication Services	10.9%	-
Consumer Cyclical	10.1%	-
Healthcare	8.4%	-
Industrials	8.1%	-
Consumer Defensive	4.9%	-
Energy	3.5%	-
Utilities	2.3%	-
Real Estate	1.9%	-
Basic Materials	1.8%	-

Return for Risk

5SPY.L vs. 3TSM.L — Risk / Return Rank

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

5SPY.L

5SPY.L Risk / Return Rank: 57
5SPY.L Sharpe Ratio Rank: 66
5SPY.L Sortino Ratio Rank: 56
5SPY.L Omega Ratio Rank: 54
5SPY.L Calmar Ratio Rank: 56
5SPY.L Martin Ratio Rank: 55

3TSM.L

3TSM.L Risk / Return Rank: 91
3TSM.L Sharpe Ratio Rank: 98
3TSM.L Sortino Ratio Rank: 87
3TSM.L Omega Ratio Rank: 76
3TSM.L Calmar Ratio Rank: 97
3TSM.L Martin Ratio Rank: 96

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.

5SPY.L vs. 3TSM.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Leverage Shares 5x Long US 500 ETP Securities (5SPY.L) and Leverage Shares 3x Long Taiwan Semiconductor (TSM) ETP Securities (3TSM.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.

	5SPY.L	3TSM.L	Difference
Sharpe ratio: Return per unit of total volatility	2.15	5.12	-2.97
Sortino ratio: Return per unit of downside risk	2.65	3.88	-1.23
Omega ratio: Gain probability vs. loss probability	1.33	1.44	-0.11
Calmar ratio: Return relative to maximum drawdown	2.77	11.56	-8.79
Martin ratio: Return relative to average drawdown	9.39	33.54	-24.15
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

5SPY.L vs. 3TSM.L - Sharpe Ratio Comparison

The current 5SPY.L Sharpe Ratio is 2.15, which is lower than the 3TSM.L Sharpe Ratio of 5.12. The chart below compares the historical Sharpe Ratios of 5SPY.L and 3TSM.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

	5SPY.L	3TSM.L	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.15	5.12	-2.97
Sharpe Ratio (All Time) Calculated using the full available price history	0.05	0.36	-0.31

Drawdowns

5SPY.L vs. 3TSM.L - Drawdown Comparison

The maximum 5SPY.L drawdown since its inception was -82.86%, smaller than the maximum 3TSM.L drawdown of -93.59%. Use the drawdown chart below to compare losses from any high point for 5SPY.L and 3TSM.L.

Drawdown Indicators

	5SPY.L	3TSM.L	Difference
Max Drawdown Largest peak-to-trough decline	-82.86%	-93.59%	+10.73%
Max Drawdown (1Y) Largest decline over 1 year	-42.76%	-46.56%	+3.80%
Max Drawdown (3Y) Largest decline over 3 years	-72.55%	-81.95%	+9.40%
Current Drawdown Current decline from peak	-2.73%	0.00%	-2.73%
Average Drawdown Average peak-to-trough decline	-50.64%	-55.66%	+5.02%
Ulcer Index Depth and duration of drawdowns from previous peaks	12.64%	16.08%	-3.44%

Volatility

5SPY.L vs. 3TSM.L - Volatility Comparison

The current volatility for Leverage Shares 5x Long US 500 ETP Securities (5SPY.L) is 15.12%, while Leverage Shares 3x Long Taiwan Semiconductor (TSM) ETP Securities (3TSM.L) has a volatility of 37.09%. This indicates that 5SPY.L experiences smaller price fluctuations and is considered to be less risky than 3TSM.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	5SPY.L	3TSM.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	15.12%	37.09%	-21.97%
Volatility (6M) Calculated over the trailing 6-month period	40.00%	77.74%	-37.74%
Volatility (1Y) Calculated over the trailing 1-year period	55.20%	105.51%	-50.31%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	78.23%	114.35%	-36.12%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	78.23%	114.35%	-36.12%

5SPY.L vs. 3TSM.L - Expense Ratio Comparison

Both 5SPY.L and 3TSM.L have an expense ratio of 0.75%.

Dividends

5SPY.L vs. 3TSM.L - Dividend Comparison

Neither 5SPY.L nor 3TSM.L has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both 5SPY.L and 3TSM.L in my portfolio?

5SPY.L and 3TSM.L have a correlation of 0.64, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, 5SPY.L or 3TSM.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, 5SPY.L or 3TSM.L?

5SPY.L and 3TSM.L have the same expense ratio: 0.75% per year.