CBUK.DE vs. KWE3.L
CBUK.DE (iShares MSCI China Tech UCITS ETF USD Acc) and KWE3.L (Leverage Shares 3x Long China Tech ETC Securities) are both exchange-traded funds - CBUK.DE is a Technology Equities fund tracking the MSCI China Technology Sub-Industries ESG Screened Select Capped, while KWE3.L is a Leveraged Equities fund actively managed by Leverage Shares. CBUK.DE is passively managed, while KWE3.L is actively managed. Over the past 3 years, CBUK.DE returned 13.37%/yr vs -36.12%/yr for KWE3.L. Their correlation of 0.86 suggests significant overlap in exposure. CBUK.DE charges 0.45%/yr vs 0.75%/yr for KWE3.L.
Performance
CBUK.DE vs. KWE3.L - Performance Comparison
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Different Trading Currencies
CBUK.DE 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, CBUK.DE achieves a 2.62% return, which is significantly higher than KWE3.L's -57.39% return.
CBUK.DE
- 1D
- -0.11%
- 1M
- 4.25%
- YTD
- 2.62%
- 6M
- 0.39%
- 1Y
- 20.86%
- 3Y*
- 13.37%
- 5Y*
- —
- 10Y*
- —
KWE3.L
- 1D
- -1.26%
- 1M
- -17.47%
- YTD
- -57.39%
- 6M
- -62.45%
- 1Y
- -60.12%
- 3Y*
- -36.12%
- 5Y*
- —
- 10Y*
- —
CBUK.DE vs. KWE3.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
CBUK.DE iShares MSCI China Tech UCITS ETF USD Acc | 2.62% | 21.05% | 18.05% | -9.04% | -1.49% |
KWE3.L Leverage Shares 3x Long China Tech ETC Securities | -57.39% | -1.73% | -17.80% | -63.03% | -52.49% |
Correlation
The correlation between CBUK.DE and KWE3.L is 0.87, 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 | 0.87 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.87 |
Correlation (All Time) Calculated using the full available price history since Apr 11, 2022 | 0.86 |
The correlation between CBUK.DE and KWE3.L has been stable across timeframes, ranging from 0.86 to 0.87 - a consistent structural relationship.
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Return for Risk
CBUK.DE vs. KWE3.L — Risk / Return Rank
CBUK.DE
KWE3.L
CBUK.DE vs. KWE3.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares MSCI China Tech UCITS ETF USD Acc (CBUK.DE) 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.
| CBUK.DE | KWE3.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.70 | ||
| Sortino ratioReturn per unit of downside risk | +2.52 | ||
| Omega ratioGain probability vs. loss probability | 1.17 | 0.89 | +0.29 |
| Calmar ratioReturn relative to maximum drawdown | 0.92 | -0.76 | +1.68 |
| Martin ratioReturn relative to average drawdown | 1.88 | -1.35 | +3.23 |
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
| CBUK.DE | KWE3.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.94 | -0.75 | +1.70 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.21 | -0.46 | +0.67 |
Drawdowns
CBUK.DE vs. KWE3.L - Drawdown Comparison
The maximum CBUK.DE drawdown since its inception was -37.29%, smaller than the maximum KWE3.L drawdown of -98.76%. Use the drawdown chart below to compare losses from any high point for CBUK.DE and KWE3.L.
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Drawdown Indicators
| CBUK.DE | KWE3.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -37.29% | -98.76% | +61.47% |
Max Drawdown (1Y)Largest decline over 1 year | -23.99% | -78.98% | +54.99% |
Max Drawdown (3Y)Largest decline over 3 years | -28.54% | -84.00% | +55.46% |
Current DrawdownCurrent decline from peak | -11.37% | -98.67% | +87.30% |
Average DrawdownAverage peak-to-trough decline | -16.27% | -90.05% | +73.78% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 11.77% | 44.46% | -32.69% |
Volatility
CBUK.DE vs. KWE3.L - Volatility Comparison
The current volatility for iShares MSCI China Tech UCITS ETF USD Acc (CBUK.DE) is 8.51%, while Leverage Shares 3x Long China Tech ETC Securities (KWE3.L) has a volatility of 35.79%. This indicates that CBUK.DE 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.
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Volatility by Period
| CBUK.DE | KWE3.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 8.51% | 35.79% | -27.28% |
Volatility (6M)Calculated over the trailing 6-month period | 16.60% | 60.50% | -43.90% |
Volatility (1Y)Calculated over the trailing 1-year period | 23.47% | 80.13% | -56.66% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 31.52% | 134.54% | -103.02% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 31.52% | 134.54% | -103.02% |
CBUK.DE vs. KWE3.L - Expense Ratio Comparison
CBUK.DE has a 0.45% expense ratio, which is lower than KWE3.L's 0.75% expense ratio.
Dividends
CBUK.DE vs. KWE3.L - Dividend Comparison
Neither CBUK.DE nor KWE3.L has paid dividends to shareholders.
Frequently Asked Questions
CBUK.DE and KWE3.L have a correlation of 0.87, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, CBUK.DE is cheaper at 0.45% per year. The better choice depends on whether you care most about return, fees, risk, or income.
CBUK.DE is cheaper with a 0.45% expense ratio, compared with 0.75% for KWE3.L.
CBUK.DE is categorized as Technology Equities, while KWE3.L is Leveraged Equities. They also come from different issuers: iShares and Leverage Shares. Their fees differ too: 0.45% for CBUK.DE and 0.75% for KWE3.L.
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