CNSG.L vs. KWE3.L
CNSG.L (UBS ETF (LU) MSCI China ESG Universal Low Carbon Select UCITS ETF (USD) A-dis) and KWE3.L (Leverage Shares 3x Long China Tech ETC Securities) are both China Equities funds. CNSG.L is passively managed, while KWE3.L is actively managed. Over the past 3 years, CNSG.L returned 6.74%/yr vs -41.60%/yr for KWE3.L. Their correlation of 0.85 suggests significant overlap in exposure. CNSG.L charges 0.45%/yr vs 0.75%/yr for KWE3.L.
Performance
CNSG.L vs. KWE3.L - Performance Comparison
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Different Trading Currencies
CNSG.L is traded in GBp, while KWE3.L is traded in USD. To make them comparable, the KWE3.L values have been converted to GBp using the latest available exchange rates.
Returns By Period
In the year-to-date period, CNSG.L achieves a -6.01% return, which is significantly higher than KWE3.L's -60.27% return.
CNSG.L
- 1D
- 1.02%
- 1M
- -2.19%
- 6M
- -9.68%
- YTD
- -6.01%
- 1Y
- -2.56%
- 3Y*
- 6.74%
- 5Y*
- -3.95%
- 10Y*
- —
KWE3.L
- 1D
- 9.47%
- 1M
- 1.28%
- 6M
- -67.66%
- YTD
- -60.27%
- 1Y
- -64.66%
- 3Y*
- -41.60%
- 5Y*
- —
- 10Y*
- —
CNSG.L vs. KWE3.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
CNSG.L UBS ETF (LU) MSCI China ESG Universal Low Carbon Select UCITS ETF (USD) A-dis | -6.01% | 18.19% | 20.51% | -18.51% | -12.26% | -6.76% |
KWE3.L Leverage Shares 3x Long China Tech ETC Securities | -60.27% | 3.56% | -21.53% | -63.80% | -86.33% | -35.59% |
Correlation
The correlation between CNSG.L and KWE3.L is 0.84, 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 | 0.84 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.86 |
Correlation (All Time) Calculated using the full available price history since Dec 10, 2021 | 0.85 |
The correlation between CNSG.L and KWE3.L has been stable across timeframes, ranging from 0.84 to 0.86 - a consistent structural relationship.
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Return for Risk
CNSG.L vs. KWE3.L — Risk / Return Rank
CNSG.L
KWE3.L
CNSG.L vs. KWE3.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for UBS ETF (LU) MSCI China ESG Universal Low Carbon Select UCITS ETF (USD) A-dis (CNSG.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.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| CNSG.L | KWE3.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.65 | ||
| Sortino ratioReturn per unit of downside risk | +1.14 | ||
| Omega ratioGain probability vs. loss probability | 0.99 | 0.87 | +0.12 |
| Calmar ratioReturn relative to maximum drawdown | -0.15 | -0.76 | +0.60 |
| Martin ratioReturn relative to average drawdown | -0.33 | -1.24 | +0.91 |
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Drawdowns
CNSG.L vs. KWE3.L - Drawdown Comparison
The maximum CNSG.L drawdown since its inception was -55.67%, smaller than the maximum KWE3.L drawdown of -99.29%. Use the drawdown chart below to compare losses from any high point for CNSG.L and KWE3.L.
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Drawdown Indicators
| CNSG.L | KWE3.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -55.67% | -99.29% | +43.62% |
Max Drawdown (1Y)Largest decline over 1 year | -16.53% | -85.33% | +68.80% |
Max Drawdown (3Y)Largest decline over 3 years | -27.90% | -88.67% | +60.77% |
Max Drawdown (5Y)Largest decline over 5 years | -46.84% | — | — |
Current DrawdownCurrent decline from peak | -31.84% | -98.97% | +67.13% |
Average DrawdownAverage peak-to-trough decline | -29.84% | -91.82% | +61.98% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 7.68% | 52.20% | -44.52% |
Volatility
CNSG.L vs. KWE3.L - Volatility Comparison
The current volatility for UBS ETF (LU) MSCI China ESG Universal Low Carbon Select UCITS ETF (USD) A-dis (CNSG.L) is 4.77%, while Leverage Shares 3x Long China Tech ETC Securities (KWE3.L) has a volatility of 23.26%. This indicates that CNSG.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.
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Volatility by Period
| CNSG.L | KWE3.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.77% | 23.26% | -18.49% |
Volatility (6M)Calculated over the trailing 6-month period | 11.76% | 62.63% | -50.87% |
Volatility (1Y)Calculated over the trailing 1-year period | 16.74% | 80.83% | -64.09% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 26.86% | 132.81% | -105.95% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 26.00% | 132.81% | -106.81% |
CNSG.L vs. KWE3.L - Expense Ratio Comparison
CNSG.L has a 0.45% expense ratio, which is lower than KWE3.L's 0.75% expense ratio.
Dividends
CNSG.L vs. KWE3.L - Dividend Comparison
CNSG.L's dividend yield for the trailing twelve months is around 2.68%, while KWE3.L has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|---|
CNSG.L UBS ETF (LU) MSCI China ESG Universal Low Carbon Select UCITS ETF (USD) A-dis | 2.68% | 2.57% | 0.85% | 2.00% | 1.80% | 1.35% | 0.74% |
KWE3.L Leverage Shares 3x Long China Tech ETC Securities | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
CNSG.L and KWE3.L have a correlation of 0.84, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, CNSG.L is cheaper at 0.45% per year. The better choice depends on whether you care most about return, fees, risk, or income.
CNSG.L is cheaper with a 0.45% expense ratio, compared with 0.75% for KWE3.L.
They also come from different issuers: UBS and Leverage Shares. Their fees differ too: 0.45% for CNSG.L and 0.75% for KWE3.L.
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