AMZI.L vs. SMH3.L

Last updated Apr 2, 2026

Compare and contrast key facts about IncomeShares Amazon (AMZN) Options ETP (AMZI.L) and Leverage Shares 3x Long Semiconductors ETP Securities (SMH3.L).

AMZI.L and SMH3.L are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. AMZI.L is an actively managed fund by Leverage Shares. It was launched on Sep 26, 2024. SMH3.L is an actively managed fund by Leverage Shares. It was launched on Dec 10, 2021.

Performance

AMZI.L vs. SMH3.L - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in IncomeShares Amazon (AMZN) Options ETP (AMZI.L) and Leverage Shares 3x Long Semiconductors ETP Securities (SMH3.L). The values are adjusted to include any dividend payments, if applicable.

AMZI.L vs. SMH3.L - Yearly Performance Comparison

	2026 (YTD)	2025	2024
AMZI.L IncomeShares Amazon (AMZN) Options ETP	-19.59%	4.42%	15.12%
SMH3.L Leverage Shares 3x Long Semiconductors ETP Securities	12.49%	74.67%	-13.56%

Returns By Period

In the year-to-date period, AMZI.L achieves a -19.59% return, which is significantly lower than SMH3.L's 12.49% return.

AMZI.L

• 1D: 0.32%
• 1M: 0.80%
• YTD: -19.59%
• 6M: -16.48%
• 1Y: -6.26%
• 3Y*: —
• 5Y*: —
• 10Y*: —

SMH3.L

• 1D: 18.04%
• 1M: -10.93%
• YTD: 12.49%
• 6M: 34.61%
• 1Y: 269.12%
• 3Y*: 82.15%
• 5Y*: —
• 10Y*: —

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

AMZI.L vs. SMH3.L - Expense Ratio Comparison

AMZI.L has a 0.55% expense ratio, which is lower than SMH3.L's 0.75% expense ratio.

SMH3.L

Leverage Shares 3x Long Semiconductors ETP Securities

AMZI.L

IncomeShares Amazon (AMZN) Options ETP

Return for Risk

AMZI.L vs. SMH3.L — Risk / Return Rank

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

AMZI.L

AMZI.L Risk / Return Rank: 8
AMZI.L Sharpe Ratio Rank: 8
AMZI.L Sortino Ratio Rank: 8
AMZI.L Omega Ratio Rank: 8
AMZI.L Calmar Ratio Rank: 8
AMZI.L Martin Ratio Rank: 7

SMH3.L

SMH3.L Risk / Return Rank: 94
SMH3.L Sharpe Ratio Rank: 96
SMH3.L Sortino Ratio Rank: 92
SMH3.L Omega Ratio Rank: 86
SMH3.L Calmar Ratio Rank: 98
SMH3.L Martin Ratio Rank: 97

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.

AMZI.L vs. SMH3.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for IncomeShares Amazon (AMZN) Options ETP (AMZI.L) and Leverage Shares 3x Long Semiconductors ETP Securities (SMH3.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.

	AMZI.L	SMH3.L	Difference
Sharpe ratio Return per unit of total volatility	-0.21	2.75	-2.96
Sortino ratio Return per unit of downside risk	-0.08	2.78	-2.86
Omega ratio Gain probability vs. loss probability	0.99	1.36	-0.37
Calmar ratio Return relative to maximum drawdown	-0.23	6.66	-6.89
Martin ratio Return relative to average drawdown	-0.59	21.41	-22.00
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

AMZI.L vs. SMH3.L - Sharpe Ratio Comparison

The current AMZI.L Sharpe Ratio is -0.21, which is lower than the SMH3.L Sharpe Ratio of 2.75. The chart below compares the historical Sharpe Ratios of AMZI.L and SMH3.L, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	AMZI.L	SMH3.L	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.21	2.75	-2.96
Sharpe Ratio (All Time) Calculated using the full available price history	-0.08	0.15	-0.23

Correlation

The correlation between AMZI.L and SMH3.L is 0.53, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.

Dividends

AMZI.L vs. SMH3.L - Dividend Comparison

AMZI.L's dividend yield for the trailing twelve months is around 13.81%, while SMH3.L has not paid dividends to shareholders.

	TTM	2025	2024
AMZI.L IncomeShares Amazon (AMZN) Options ETP	13.81%	13.65%	2.45%
SMH3.L Leverage Shares 3x Long Semiconductors ETP Securities	0.00%	0.00%	0.00%

Drawdowns

AMZI.L vs. SMH3.L - Drawdown Comparison

The maximum AMZI.L drawdown since its inception was -27.38%, smaller than the maximum SMH3.L drawdown of -89.37%. Use the drawdown chart below to compare losses from any high point for AMZI.L and SMH3.L.

Drawdown Indicators

	AMZI.L	SMH3.L	Difference
Max Drawdown Largest peak-to-trough decline	-27.38%	-89.37%	+61.99%
Max Drawdown (1Y) Largest decline over 1 year	-27.38%	-43.09%	+15.71%
Current Drawdown Current decline from peak	-25.12%	-24.85%	-0.27%
Average Drawdown Average peak-to-trough decline	-8.58%	-50.06%	+41.48%
Ulcer Index Depth and duration of drawdowns from previous peaks	10.63%	12.21%	-1.58%

Volatility

AMZI.L vs. SMH3.L - Volatility Comparison

The current volatility for IncomeShares Amazon (AMZN) Options ETP (AMZI.L) is 8.38%, while Leverage Shares 3x Long Semiconductors ETP Securities (SMH3.L) has a volatility of 30.75%. This indicates that AMZI.L experiences smaller price fluctuations and is considered to be less risky than SMH3.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	AMZI.L	SMH3.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	8.38%	30.75%	-22.37%
Volatility (6M) Calculated over the trailing 6-month period	22.36%	67.92%	-45.56%
Volatility (1Y) Calculated over the trailing 1-year period	30.08%	97.22%	-67.14%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	29.07%	99.97%	-70.90%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	29.07%	99.97%	-70.90%