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HSPD.L vs. 3USL.L
Performance
Return for Risk
Drawdowns
Volatility
Dividends

HSPD.L vs. 3USL.L

Last updated Jun 5, 2026

HSPD.L (HSBC S&P 500 UCITS ETF) and 3USL.L (WisdomTree S&P 500 3x Daily Leveraged GB) are both exchange-traded funds - HSPD.L is a S&P 500 fund tracking the S&P 500 Index, while 3USL.L is a Leveraged Equities fund tracking the S&P 500 Net Total Returns Index. Both are passively managed. Over the past 10 years, HSPD.L returned 15.23%/yr vs 28.49%/yr for 3USL.L. With a 0.99 correlation, they move nearly in lockstep. HSPD.L charges 0.09%/yr vs 0.75%/yr for 3USL.L.

Performance

HSPD.L vs. 3USL.L - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in HSBC S&P 500 UCITS ETF (HSPD.L) and WisdomTree S&P 500 3x Daily Leveraged GB (3USL.L). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, HSPD.L achieves a 10.31% return, which is significantly lower than 3USL.L's 25.13% return. Over the past 10 years, HSPD.L has underperformed 3USL.L with an annualized return of 15.23%, while 3USL.L has yielded a comparatively higher 28.49% annualized return.

HSPD.L

1D
0.02%
1M
4.45%
YTD
10.31%
6M
11.11%
1Y
27.87%
3Y*
22.18%
5Y*
13.69%
10Y*
15.23%

3USL.L

1D
-0.02%
1M
12.76%
YTD
25.13%
6M
26.49%
1Y
77.77%
3Y*
50.50%
5Y*
22.25%
10Y*
28.49%
*Multi-year figures are annualized to reflect compound growth (CAGR)

HSPD.L vs. 3USL.L - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
HSPD.L
HSBC S&P 500 UCITS ETF		10.31%17.39%25.26%26.91%-18.83%29.36%17.88%30.46%-5.36%21.64%
3USL.L
WisdomTree S&P 500 3x Daily Leveraged GB		25.13%28.97%64.00%70.49%-57.35%101.77%7.89%97.98%-27.34%69.34%

Correlation

The correlation between HSPD.L and 3USL.L is 0.99 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.99

Correlation (3Y)
Calculated over the trailing 3-year period

1.00

Correlation (5Y)
Calculated over the trailing 5-year period

1.00

Correlation (10Y)
Calculated over the trailing 10-year period

1.00

Correlation (All Time)
Calculated using the full available price history since May 14, 2013

0.99

The correlation between HSPD.L and 3USL.L has been stable across timeframes, ranging from 0.99 to 1.00 - a consistent structural relationship.

HSPD.L vs. 3USL.L - Sectors Allocation Comparison

Sectors
HSPD.L
3USL.L

Technology

35.6%
36.9%

Financial Services

11.8%
12.6%

Communication Services

11.2%
10.4%

Consumer Cyclical

10.1%
10.7%

Healthcare

8.5%
9.0%

Industrials

8.3%
7.4%

Consumer Defensive

4.9%
4.7%

Energy

3.5%
2.8%

Utilities

2.3%
2.3%

Real Estate

1.9%
1.8%

Basic Materials

1.8%
1.5%

Technology

HSPD.L
35.6%
3USL.L
36.9%

Financial Services

HSPD.L
11.8%
3USL.L
12.6%

Communication Services

HSPD.L
11.2%
3USL.L
10.4%

Consumer Cyclical

HSPD.L
10.1%
3USL.L
10.7%

Healthcare

HSPD.L
8.5%
3USL.L
9.0%

Industrials

HSPD.L
8.3%
3USL.L
7.4%

Consumer Defensive

HSPD.L
4.9%
3USL.L
4.7%

Energy

HSPD.L
3.5%
3USL.L
2.8%

Utilities

HSPD.L
2.3%
3USL.L
2.3%

Real Estate

HSPD.L
1.9%
3USL.L
1.8%

Basic Materials

HSPD.L
1.8%
3USL.L
1.5%

Compare stocks, funds, or ETFs

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HSBC S&P 500 UCITS ETF

WisdomTree S&P 500 3x Daily Leveraged GB

Often compared with HSPD.L:
HSPD.L vs. HSPX.LHSPD.L vs. CSPX.LHSPD.L vs. HUKX.LHSPD.L vs. HSBCHSPD.L vs. VOOHSPD.L vs. SPYHSPD.L vs. CNDX.L
Often compared with 3USL.L:
3USL.L vs. UPRO3USL.L vs. TQQQ3USL.L vs. RMQAX3USL.L vs. VUAA.L3USL.L vs. CL2.F3USL.L vs. QQQ3USL.L vs. ^GSPC

Return for Risk

HSPD.L vs. 3USL.L — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
HSPD.L
HSPD.L Risk / Return Rank: 7575
Overall Rank
HSPD.L Sharpe Ratio Rank: 7575
Sharpe Ratio Rank
HSPD.L Sortino Ratio Rank: 7979
Sortino Ratio Rank
HSPD.L Omega Ratio Rank: 7575
Omega Ratio Rank
HSPD.L Calmar Ratio Rank: 6868
Calmar Ratio Rank
HSPD.L Martin Ratio Rank: 7676
Martin Ratio Rank
3USL.L
3USL.L Risk / Return Rank: 6565
Overall Rank
3USL.L Sharpe Ratio Rank: 7070
Sharpe Ratio Rank
3USL.L Sortino Ratio Rank: 6464
Sortino Ratio Rank
3USL.L Omega Ratio Rank: 6060
Omega Ratio Rank
3USL.L Calmar Ratio Rank: 6363
Calmar Ratio Rank
3USL.L Martin Ratio Rank: 6767
Martin Ratio Rank
The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

HSPD.L vs. 3USL.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for HSBC S&P 500 UCITS ETF (HSPD.L) and WisdomTree S&P 500 3x Daily Leveraged GB (3USL.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.

HSPD.L3USL.LDifference
Sharpe ratioReturn per unit of total volatility
2.39
2.25

+0.14

Sortino ratioReturn per unit of downside risk
3.47
2.94

+0.53

Omega ratioGain probability vs. loss probability

1.44

1.36

+0.08

Calmar ratioReturn relative to maximum drawdown

3.37

3.06

+0.31

Martin ratioReturn relative to average drawdown

14.45

12.28

+2.16

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

HSPD.L vs. 3USL.L - Sharpe Ratio Comparison

The current HSPD.L Sharpe Ratio is 2.39, which is comparable to the 3USL.L Sharpe Ratio of 2.25. The chart below compares the historical Sharpe Ratios of HSPD.L and 3USL.L, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Sharpe Ratios by Period

HSPD.L3USL.LDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

2.39

2.25

+0.14

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.86

0.47

+0.39

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.94

0.59

+0.35

Sharpe Ratio (All Time)

Calculated using the full available price history

0.96

0.60

+0.36

Drawdowns

HSPD.L vs. 3USL.L - Drawdown Comparison

The maximum HSPD.L drawdown since its inception was -34.00%, smaller than the maximum 3USL.L drawdown of -76.72%. Use the drawdown chart below to compare losses from any high point for HSPD.L and 3USL.L.

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Drawdown Indicators

HSPD.L3USL.LDifference

Max Drawdown

Largest peak-to-trough decline

-34.00%

-76.72%

+42.72%

Max Drawdown (1Y)

Largest decline over 1 year

-8.24%

-25.29%

+17.05%

Max Drawdown (3Y)

Largest decline over 3 years

-18.39%

-48.69%

+30.30%

Max Drawdown (5Y)

Largest decline over 5 years

-24.59%

-63.47%

+38.88%

Max Drawdown (10Y)

Largest decline over 10 years

-34.00%

-76.72%

+42.72%

Current Drawdown

Current decline from peak

-0.52%

-1.82%

+1.30%

Average Drawdown

Average peak-to-trough decline

-3.76%

-15.26%

+11.50%

Ulcer Index

Depth and duration of drawdowns from previous peaks

1.92%

6.31%

-4.39%

Volatility

HSPD.L vs. 3USL.L - Volatility Comparison

The current volatility for HSBC S&P 500 UCITS ETF (HSPD.L) is 3.23%, while WisdomTree S&P 500 3x Daily Leveraged GB (3USL.L) has a volatility of 9.42%. This indicates that HSPD.L experiences smaller price fluctuations and is considered to be less risky than 3USL.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

HSPD.L3USL.LDifference

Volatility (1M)

Calculated over the trailing 1-month period

3.23%

9.42%

-6.19%

Volatility (6M)

Calculated over the trailing 6-month period

8.47%

25.26%

-16.79%

Volatility (1Y)

Calculated over the trailing 1-year period

11.59%

34.36%

-22.77%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

15.91%

47.39%

-31.48%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

16.23%

48.51%

-32.28%

HSPD.L vs. 3USL.L - Expense Ratio Comparison

HSPD.L has a 0.09% expense ratio, which is lower than 3USL.L's 0.75% expense ratio.

Dividends

HSPD.L vs. 3USL.L - Dividend Comparison

HSPD.L's dividend yield for the trailing twelve months is around 0.83%, while 3USL.L has not paid dividends to shareholders.

PositionTTM20252024202320222021202020192018201720162015
3USL.L
WisdomTree S&P 500 3x Daily Leveraged GB		0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%
HSPD.L
HSBC S&P 500 UCITS ETF		0.83%0.90%1.00%1.18%1.34%0.98%1.32%1.41%1.68%1.44%1.65%1.67%

Frequently Asked Questions

With a correlation of 0.99, HSPD.L and 3USL.L move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

On fees, HSPD.L is cheaper at 0.09% per year. The better choice depends on whether you care most about return, fees, risk, or income.

HSPD.L is cheaper with a 0.09% expense ratio, compared with 0.75% for 3USL.L.

HSPD.L is categorized as S&P 500, while 3USL.L is Leveraged Equities. HSPD.L tracks S&P 500 Index, while 3USL.L tracks S&P 500 Net Total Returns Index. They also come from different issuers: HSBC and WisdomTree. Their fees differ too: 0.09% for HSPD.L and 0.75% for 3USL.L.

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