BNQL.DE vs. 3SLV.DE
BNQL.DE (BNP Paribas Palladium ETC) and 3SLV.DE (Leverage Shares 3x Long Silver ETP Securities) are both exchange-traded funds - BNQL.DE is a Precious Metals fund tracking the Palladium Spot Price, while 3SLV.DE is a Silver fund tracking the iShares Silver Trust (3x). Both are passively managed. Over the past 3 years, BNQL.DE returned -5.67%/yr vs 44.22%/yr for 3SLV.DE. At a 0.46 correlation, their price movements are largely independent. BNQL.DE charges 0.99%/yr vs 0.75%/yr for 3SLV.DE.
Performance
BNQL.DE vs. 3SLV.DE - Performance Comparison
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Returns By Period
In the year-to-date period, BNQL.DE achieves a -17.76% return, which is significantly higher than 3SLV.DE's -68.66% return.
BNQL.DE
- 1D
- -1.06%
- 1M
- -11.56%
- YTD
- -17.76%
- 6M
- -8.41%
- 1Y
- 29.07%
- 3Y*
- -5.67%
- 5Y*
- -14.19%
- 10Y*
- —
3SLV.DE
- 1D
- 1.15%
- 1M
- -7.44%
- YTD
- -68.66%
- 6M
- -31.83%
- 1Y
- 139.25%
- 3Y*
- 44.22%
- 5Y*
- —
- 10Y*
- —
BNQL.DE vs. 3SLV.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
BNQL.DE BNP Paribas Palladium ETC | -17.76% | 58.42% | -16.10% | -40.26% | -21.30% |
3SLV.DE Leverage Shares 3x Long Silver ETP Securities | -68.66% | 826.65% | 26.88% | -33.46% | 45.09% |
Correlation
The correlation between BNQL.DE and 3SLV.DE is 0.57, 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 | 0.57 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.47 |
Correlation (All Time) Calculated using the full available price history since Sep 14, 2022 | 0.46 |
The correlation between BNQL.DE and 3SLV.DE shifts across timeframes, from 0.46 (all time) to 0.57 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
BNQL.DE vs. 3SLV.DE — Risk / Return Rank
BNQL.DE
3SLV.DE
BNQL.DE vs. 3SLV.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for BNP Paribas Palladium ETC (BNQL.DE) and Leverage Shares 3x Long Silver ETP Securities (3SLV.DE). 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.
| BNQL.DE | 3SLV.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.18 | ||
| Sortino ratioReturn per unit of downside risk | -0.94 | ||
| Omega ratioGain probability vs. loss probability | 1.14 | 1.32 | -0.18 |
| Calmar ratioReturn relative to maximum drawdown | 0.78 | 1.54 | -0.76 |
| Martin ratioReturn relative to average drawdown | 1.68 | 2.76 | -1.09 |
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
| BNQL.DE | 3SLV.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.63 | 0.82 | -0.18 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.31 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.11 | 0.36 | -0.25 |
Drawdowns
BNQL.DE vs. 3SLV.DE - Drawdown Comparison
The maximum BNQL.DE drawdown since its inception was -73.80%, smaller than the maximum 3SLV.DE drawdown of -89.93%. Use the drawdown chart below to compare losses from any high point for BNQL.DE and 3SLV.DE.
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Drawdown Indicators
| BNQL.DE | 3SLV.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -73.80% | -89.93% | +16.13% |
Max Drawdown (1Y)Largest decline over 1 year | -37.28% | -89.93% | +52.65% |
Max Drawdown (3Y)Largest decline over 3 years | -43.58% | -89.93% | +46.35% |
Max Drawdown (5Y)Largest decline over 5 years | -73.80% | — | — |
Current DrawdownCurrent decline from peak | -61.09% | -89.11% | +28.02% |
Average DrawdownAverage peak-to-trough decline | -32.15% | -29.44% | -2.71% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 17.30% | 50.24% | -32.94% |
Volatility
BNQL.DE vs. 3SLV.DE - Volatility Comparison
The current volatility for BNP Paribas Palladium ETC (BNQL.DE) is 10.31%, while Leverage Shares 3x Long Silver ETP Securities (3SLV.DE) has a volatility of 51.33%. This indicates that BNQL.DE experiences smaller price fluctuations and is considered to be less risky than 3SLV.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| BNQL.DE | 3SLV.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 10.31% | 51.33% | -41.02% |
Volatility (6M)Calculated over the trailing 6-month period | 37.75% | 176.71% | -138.96% |
Volatility (1Y)Calculated over the trailing 1-year period | 45.71% | 169.84% | -124.13% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 45.30% | 111.76% | -66.46% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 40.77% | 111.76% | -70.99% |
BNQL.DE vs. 3SLV.DE - Expense Ratio Comparison
BNQL.DE has a 0.99% expense ratio, which is higher than 3SLV.DE's 0.75% expense ratio.
Dividends
BNQL.DE vs. 3SLV.DE - Dividend Comparison
Neither BNQL.DE nor 3SLV.DE has paid dividends to shareholders.
Frequently Asked Questions
BNQL.DE and 3SLV.DE have a correlation of 0.57, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, 3SLV.DE is cheaper at 0.75% per year. The better choice depends on whether you care most about return, fees, risk, or income.
3SLV.DE is cheaper with a 0.75% expense ratio, compared with 0.99% for BNQL.DE.
BNQL.DE is categorized as Precious Metals, while 3SLV.DE is Silver. BNQL.DE tracks Palladium Spot Price, while 3SLV.DE tracks iShares Silver Trust (3x). They also come from different issuers: BNP Paribas and Leverage Shares. Their fees differ too: 0.99% for BNQL.DE and 0.75% for 3SLV.DE.
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