CWEB vs. KWE3.L
Compare and contrast key facts about Direxion Daily CSI China Internet Index Bull 2x Shares (CWEB) and Leverage Shares 3x Long China Tech ETC Securities (KWE3.L).
CWEB and KWE3.L are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. CWEB is a passively managed fund by Direxion that tracks the performance of the CSI China Overseas Internet Index (200%). It was launched on Nov 2, 2016. KWE3.L is an actively managed fund by Leverage Shares. It was launched on Dec 10, 2021.
Performance
CWEB vs. KWE3.L - Performance Comparison
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CWEB vs. KWE3.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
CWEB Direxion Daily CSI China Internet Index Bull 2x Shares | -33.52% | 29.04% | 0.12% | -32.85% | -59.43% | -3.24% |
KWE3.L Leverage Shares 3x Long China Tech ETC Securities | -48.88% | 11.50% | -22.89% | -61.89% | -87.79% | -17.62% |
Returns By Period
In the year-to-date period, CWEB achieves a -33.52% return, which is significantly higher than KWE3.L's -48.88% return.
CWEB
- 1D
- -1.23%
- 1M
- -15.96%
- YTD
- -33.52%
- 6M
- -53.39%
- 1Y
- -37.03%
- 3Y*
- -16.84%
- 5Y*
- -45.23%
- 10Y*
- —
KWE3.L
- 1D
- 4.80%
- 1M
- -21.55%
- YTD
- -48.88%
- 6M
- -71.40%
- 1Y
- -61.53%
- 3Y*
- -42.77%
- 5Y*
- —
- 10Y*
- —
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CWEB vs. KWE3.L - Expense Ratio Comparison
CWEB has a 1.30% expense ratio, which is higher than KWE3.L's 0.75% expense ratio.
Return for Risk
CWEB vs. KWE3.L — Risk / Return Rank
CWEB
KWE3.L
CWEB vs. KWE3.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Direxion Daily CSI China Internet Index Bull 2x Shares (CWEB) 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.
| CWEB | KWE3.L | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | -0.63 | -0.71 | +0.08 |
Sortino ratioReturn per unit of downside risk | -0.67 | -0.93 | +0.26 |
Omega ratioGain probability vs. loss probability | 0.92 | 0.89 | +0.03 |
Calmar ratioReturn relative to maximum drawdown | -0.65 | -0.82 | +0.17 |
Martin ratioReturn relative to average drawdown | -1.52 | -1.73 | +0.21 |
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
| CWEB | KWE3.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.63 | -0.71 | +0.08 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.48 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.24 | -0.45 | +0.20 |
Correlation
The correlation between CWEB and KWE3.L is 0.82, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.
Dividends
CWEB vs. KWE3.L - Dividend Comparison
CWEB's dividend yield for the trailing twelve months is around 5.08%, while KWE3.L has not paid dividends to shareholders.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
CWEB Direxion Daily CSI China Internet Index Bull 2x Shares | 5.08% | 2.77% | 4.59% | 2.63% | 0.00% | 0.00% | 0.00% | 0.64% | 1.59% | 2.98% |
KWE3.L Leverage Shares 3x Long China Tech ETC Securities | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Drawdowns
CWEB vs. KWE3.L - Drawdown Comparison
The maximum CWEB drawdown since its inception was -98.09%, roughly equal to the maximum KWE3.L drawdown of -98.42%. Use the drawdown chart below to compare losses from any high point for CWEB and KWE3.L.
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Drawdown Indicators
| CWEB | KWE3.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -98.09% | -98.42% | +0.33% |
Max Drawdown (1Y)Largest decline over 1 year | -56.15% | -74.02% | +17.87% |
Max Drawdown (5Y)Largest decline over 5 years | -96.62% | — | — |
Current DrawdownCurrent decline from peak | -97.29% | -98.34% | +1.05% |
Average DrawdownAverage peak-to-trough decline | -64.84% | -90.05% | +25.21% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 23.96% | 34.93% | -10.97% |
Volatility
CWEB vs. KWE3.L - Volatility Comparison
The current volatility for Direxion Daily CSI China Internet Index Bull 2x Shares (CWEB) is 17.51%, while Leverage Shares 3x Long China Tech ETC Securities (KWE3.L) has a volatility of 26.88%. This indicates that CWEB 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
| CWEB | KWE3.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 17.51% | 26.88% | -9.37% |
Volatility (6M)Calculated over the trailing 6-month period | 38.34% | 53.44% | -15.10% |
Volatility (1Y)Calculated over the trailing 1-year period | 58.92% | 86.04% | -27.12% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 94.37% | 137.43% | -43.06% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 80.95% | 137.43% | -56.48% |