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

IUSE.L vs. 3USL.L

Last updated Jun 5, 2026

IUSE.L (iShares S&P 500 EUR Hedged UCITS ETF Acc) and 3USL.L (WisdomTree S&P 500 3x Daily Leveraged GB) are both exchange-traded funds - IUSE.L is a S&P 500 fund tracking the S&P 500 EUR Hedged 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, IUSE.L returned 12.48%/yr vs 28.21%/yr for 3USL.L. With a 0.96 correlation, they move nearly in lockstep. IUSE.L charges 0.20%/yr vs 0.75%/yr for 3USL.L.

Performance

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

The chart below illustrates the hypothetical performance of a €10,000 investment in iShares S&P 500 EUR Hedged UCITS ETF Acc (IUSE.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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Different Trading Currencies

IUSE.L is traded in EUR, while 3USL.L is traded in USD. To make them comparable, the 3USL.L values have been converted to EUR using the latest available exchange rates.

Returns By Period

In the year-to-date period, IUSE.L achieves a 9.10% return, which is significantly lower than 3USL.L's 26.56% return. Over the past 10 years, IUSE.L has underperformed 3USL.L with an annualized return of 12.48%, while 3USL.L has yielded a comparatively higher 28.21% annualized return.

IUSE.L

1D
0.01%
1M
3.10%
YTD
9.10%
6M
9.36%
1Y
24.30%
3Y*
19.47%
5Y*
11.10%
10Y*
12.48%

3USL.L

1D
-0.16%
1M
13.51%
YTD
26.56%
6M
26.83%
1Y
74.79%
3Y*
46.50%
5Y*
23.39%
10Y*
28.21%
*Multi-year figures are annualized to reflect compound growth (CAGR)

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

2026 (YTD)202520242023202220212020201920182017
IUSE.L
iShares S&P 500 EUR Hedged UCITS ETF Acc		9.10%14.95%23.20%23.05%-21.17%27.85%14.81%26.33%-8.40%19.04%
3USL.L
WisdomTree S&P 500 3x Daily Leveraged GB		26.57%13.67%74.83%65.38%-54.70%116.86%-1.01%102.45%-23.93%48.53%

Correlation

The correlation between IUSE.L and 3USL.L is 0.97 - 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

0.97

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

0.97

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

0.97

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

0.97

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

0.96

The correlation between IUSE.L and 3USL.L has been stable across timeframes, ranging from 0.96 to 0.97 - a consistent structural relationship.

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

Sectors
IUSE.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

IUSE.L
35.6%
3USL.L
36.9%

Financial Services

IUSE.L
11.8%
3USL.L
12.6%

Communication Services

IUSE.L
11.2%
3USL.L
10.4%

Consumer Cyclical

IUSE.L
10.1%
3USL.L
10.7%

Healthcare

IUSE.L
8.5%
3USL.L
9.0%

Industrials

IUSE.L
8.3%
3USL.L
7.4%

Consumer Defensive

IUSE.L
4.9%
3USL.L
4.7%

Energy

IUSE.L
3.5%
3USL.L
2.8%

Utilities

IUSE.L
2.3%
3USL.L
2.3%

Real Estate

IUSE.L
1.9%
3USL.L
1.8%

Basic Materials

IUSE.L
1.8%
3USL.L
1.5%

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

iShares S&P 500 EUR Hedged UCITS ETF Acc

WisdomTree S&P 500 3x Daily Leveraged GB

Often compared with IUSE.L:
IUSE.L vs. EXS1.DEIUSE.L vs. CEMS.DEIUSE.L vs. IBCK.DEIUSE.L vs. IBCF.DEIUSE.L vs. SPYIUSE.L vs. SNAW.DEIUSE.L vs. SXR8.DE
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. ^GSPC3USL.L vs. QQQ

Return for Risk

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

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
IUSE.L
IUSE.L Risk / Return Rank: 6565
Overall Rank
IUSE.L Sharpe Ratio Rank: 6565
Sharpe Ratio Rank
IUSE.L Sortino Ratio Rank: 6969
Sortino Ratio Rank
IUSE.L Omega Ratio Rank: 6565
Omega Ratio Rank
IUSE.L Calmar Ratio Rank: 5858
Calmar Ratio Rank
IUSE.L Martin Ratio Rank: 6767
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.

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

This table presents a comparison of risk-adjusted performance metrics for iShares S&P 500 EUR Hedged UCITS ETF Acc (IUSE.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.

IUSE.L3USL.LDifference
Sharpe ratioReturn per unit of total volatility
2.12
2.19

-0.07

Sortino ratioReturn per unit of downside risk
3.10
2.82

+0.28

Omega ratioGain probability vs. loss probability

1.38

1.36

+0.03

Calmar ratioReturn relative to maximum drawdown

2.83

3.07

-0.24

Martin ratioReturn relative to average drawdown

12.09

11.64

+0.45

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

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

The current IUSE.L Sharpe Ratio is 2.12, which is comparable to the 3USL.L Sharpe Ratio of 2.19. The chart below compares the historical Sharpe Ratios of IUSE.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

IUSE.L3USL.LDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

2.12

2.19

-0.07

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.69

0.51

+0.19

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.76

0.59

+0.17

Sharpe Ratio (All Time)

Calculated using the full available price history

0.79

0.62

+0.17

Drawdowns

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

The maximum IUSE.L drawdown since its inception was -34.75%, smaller than the maximum 3USL.L drawdown of -76.54%. Use the drawdown chart below to compare losses from any high point for IUSE.L and 3USL.L.

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Drawdown Indicators

IUSE.L3USL.LDifference

Max Drawdown

Largest peak-to-trough decline

-34.75%

-76.54%

+41.79%

Max Drawdown (1Y)

Largest decline over 1 year

-8.67%

-24.25%

+15.58%

Max Drawdown (3Y)

Largest decline over 3 years

-18.33%

-50.79%

+32.46%

Max Drawdown (5Y)

Largest decline over 5 years

-26.23%

-57.37%

+31.14%

Max Drawdown (10Y)

Largest decline over 10 years

-34.75%

-76.54%

+41.79%

Current Drawdown

Current decline from peak

-0.55%

-1.68%

+1.13%

Average Drawdown

Average peak-to-trough decline

-4.31%

-15.24%

+10.93%

Ulcer Index

Depth and duration of drawdowns from previous peaks

2.03%

6.40%

-4.37%

Volatility

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

The current volatility for iShares S&P 500 EUR Hedged UCITS ETF Acc (IUSE.L) is 3.24%, while WisdomTree S&P 500 3x Daily Leveraged GB (3USL.L) has a volatility of 9.09%. This indicates that IUSE.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

IUSE.L3USL.LDifference

Volatility (1M)

Calculated over the trailing 1-month period

3.24%

9.09%

-5.85%

Volatility (6M)

Calculated over the trailing 6-month period

8.53%

24.63%

-16.10%

Volatility (1Y)

Calculated over the trailing 1-year period

11.58%

33.94%

-22.36%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

16.00%

46.19%

-30.19%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

16.33%

47.85%

-31.52%

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

IUSE.L has a 0.20% expense ratio, which is lower than 3USL.L's 0.75% expense ratio.

Dividends

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

Neither IUSE.L nor 3USL.L has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

With a correlation of 0.97, IUSE.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, IUSE.L is cheaper at 0.20% per year. The better choice depends on whether you care most about return, fees, risk, or income.

IUSE.L is cheaper with a 0.20% expense ratio, compared with 0.75% for 3USL.L.

IUSE.L is categorized as S&P 500, while 3USL.L is Leveraged Equities. IUSE.L tracks S&P 500 EUR Hedged Index, while 3USL.L tracks S&P 500 Net Total Returns Index. They also come from different issuers: iShares and WisdomTree. Their fees differ too: 0.20% for IUSE.L and 0.75% for 3USL.L.

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