CSH2.L vs. 3GOL.L
CSH2.L (Amundi Smart Overnight Return UCITS ETF GBP Hedged Acc) and 3GOL.L (WisdomTree Gold 3x Daily Leveraged) are both exchange-traded funds - CSH2.L is a Money Market fund tracking the SONIA Compounded (GBP Hedged), while 3GOL.L is a Leveraged Commodities fund tracking the Solactive Gold Commodity Futures SL Index (300%). Both are passively managed. Over the past 10 years, CSH2.L returned 2.10%/yr vs 15.23%/yr for 3GOL.L. At a 0.01 correlation, their price movements are largely independent. CSH2.L charges 0.10%/yr vs 0.99%/yr for 3GOL.L.
Performance
CSH2.L vs. 3GOL.L - Performance Comparison
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Different Trading Currencies
CSH2.L is traded in GBp, while 3GOL.L is traded in USD. To make them comparable, the 3GOL.L values have been converted to GBp using the latest available exchange rates.
Returns By Period
In the year-to-date period, CSH2.L achieves a 2.01% return, which is significantly higher than 3GOL.L's -35.43% return. Over the past 10 years, CSH2.L has underperformed 3GOL.L with an annualized return of 2.10%, while 3GOL.L has yielded a comparatively higher 15.23% annualized return.
CSH2.L
- 1D
- 0.01%
- 1M
- 0.32%
- YTD
- 2.01%
- 6M
- 2.08%
- 1Y
- 4.39%
- 3Y*
- 4.97%
- 5Y*
- 3.71%
- 10Y*
- 2.10%
3GOL.L
- 1D
- -4.75%
- 1M
- -33.21%
- YTD
- -35.43%
- 6M
- -38.42%
- 1Y
- 30.41%
- 3Y*
- 55.10%
- 5Y*
- 31.07%
- 10Y*
- 15.23%
CSH2.L vs. 3GOL.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
CSH2.L Amundi Smart Overnight Return UCITS ETF GBP Hedged Acc | 2.01% | 4.67% | 5.61% | 4.72% | 1.54% | 0.13% | 0.30% | 0.82% | 0.70% | 0.42% |
3GOL.L WisdomTree Gold 3x Daily Leveraged | -35.43% | 212.21% | 63.31% | 14.27% | -3.63% | -20.86% | 46.42% | 41.75% | -7.23% | 14.27% |
Correlation
The correlation between CSH2.L and 3GOL.L is -0.09, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.09 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.03 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.02 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.00 |
Correlation (All Time) Calculated using the full available price history since May 29, 2015 | 0.01 |
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Return for Risk
CSH2.L vs. 3GOL.L — Risk / Return Rank
CSH2.L
3GOL.L
CSH2.L vs. 3GOL.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Amundi Smart Overnight Return UCITS ETF GBP Hedged Acc (CSH2.L) and WisdomTree Gold 3x Daily Leveraged (3GOL.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.
| CSH2.L | 3GOL.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +7.93 | ||
| Sortino ratioReturn per unit of downside risk | +14.58 | ||
| Omega ratioGain probability vs. loss probability | 4.73 | 1.14 | +3.59 |
| Calmar ratioReturn relative to maximum drawdown | 27.75 | 0.48 | +27.27 |
| Martin ratioReturn relative to average drawdown | 163.55 | 1.15 | +162.40 |
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Drawdowns
CSH2.L vs. 3GOL.L - Drawdown Comparison
The maximum CSH2.L drawdown since its inception was -0.37%, smaller than the maximum 3GOL.L drawdown of -82.77%. Use the drawdown chart below to compare losses from any high point for CSH2.L and 3GOL.L.
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Drawdown Indicators
| CSH2.L | 3GOL.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -0.37% | -82.77% | +82.40% |
Max Drawdown (1Y)Largest decline over 1 year | -0.16% | -63.15% | +62.99% |
Max Drawdown (3Y)Largest decline over 3 years | -0.29% | -63.15% | +62.86% |
Max Drawdown (5Y)Largest decline over 5 years | -0.29% | -63.15% | +62.86% |
Max Drawdown (10Y)Largest decline over 10 years | -0.37% | -63.15% | +62.78% |
Current DrawdownCurrent decline from peak | 0.00% | -63.06% | +63.06% |
Average DrawdownAverage peak-to-trough decline | -0.00% | -55.64% | +55.64% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.03% | 26.31% | -26.28% |
Volatility
CSH2.L vs. 3GOL.L - Volatility Comparison
The current volatility for Amundi Smart Overnight Return UCITS ETF GBP Hedged Acc (CSH2.L) is 0.06%, while WisdomTree Gold 3x Daily Leveraged (3GOL.L) has a volatility of 26.55%. This indicates that CSH2.L experiences smaller price fluctuations and is considered to be less risky than 3GOL.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| CSH2.L | 3GOL.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.06% | 26.55% | -26.49% |
Volatility (6M)Calculated over the trailing 6-month period | 0.20% | 69.07% | -68.87% |
Volatility (1Y)Calculated over the trailing 1-year period | 0.53% | 76.88% | -76.35% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 0.56% | 51.33% | -50.77% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 0.44% | 46.40% | -45.96% |
CSH2.L vs. 3GOL.L - Expense Ratio Comparison
CSH2.L has a 0.10% expense ratio, which is lower than 3GOL.L's 0.99% expense ratio.
Dividends
CSH2.L vs. 3GOL.L - Dividend Comparison
Neither CSH2.L nor 3GOL.L has paid dividends to shareholders.
Frequently Asked Questions
CSH2.L and 3GOL.L have a correlation of -0.09, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, CSH2.L is cheaper at 0.10% per year. The better choice depends on whether you care most about return, fees, risk, or income.
CSH2.L is cheaper with a 0.10% expense ratio, compared with 0.99% for 3GOL.L.
CSH2.L is categorized as Money Market, while 3GOL.L is Leveraged Commodities. CSH2.L tracks SONIA Compounded (GBP Hedged), while 3GOL.L tracks Solactive Gold Commodity Futures SL Index (300%). They also come from different issuers: Amundi and WisdomTree. Their fees differ too: 0.10% for CSH2.L and 0.99% for 3GOL.L.
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