KWE3.L vs. 3MST.L
KWE3.L (Leverage Shares 3x Long China Tech ETC Securities) and 3MST.L (Leverage Shares 3x Long MicroStrategy ETP) are both Leveraged Equities funds from Leverage Shares. KWE3.L is actively managed, while 3MST.L is passively managed. Over the past year, KWE3.L returned -59.44% vs -99.29% for 3MST.L. At a 0.26 correlation, their price movements are largely independent. Both charge a 0.75% expense ratio.
Performance
KWE3.L vs. 3MST.L - Performance Comparison
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Returns By Period
In the year-to-date period, KWE3.L achieves a -57.87% return, which is significantly higher than 3MST.L's -78.63% return.
KWE3.L
- 1D
- -1.12%
- 1M
- -18.01%
- YTD
- -57.87%
- 6M
- -62.55%
- 1Y
- -59.44%
- 3Y*
- -34.38%
- 5Y*
- —
- 10Y*
- —
3MST.L
- 1D
- -8.62%
- 1M
- -71.71%
- YTD
- -78.63%
- 6M
- -88.77%
- 1Y
- -99.29%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
KWE3.L vs. 3MST.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
KWE3.L Leverage Shares 3x Long China Tech ETC Securities | -57.87% | 11.50% | -36.17% |
3MST.L Leverage Shares 3x Long MicroStrategy ETP | -78.63% | -98.41% | 164.28% |
Correlation
The correlation between KWE3.L and 3MST.L is 0.26, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.26 |
Correlation (All Time) Calculated using the full available price history since Sep 27, 2024 | 0.26 |
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Return for Risk
KWE3.L vs. 3MST.L — Risk / Return Rank
KWE3.L
3MST.L
KWE3.L vs. 3MST.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Leverage Shares 3x Long China Tech ETC Securities (KWE3.L) and Leverage Shares 3x Long MicroStrategy ETP (3MST.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.
| KWE3.L | 3MST.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.24 | ||
| Sortino ratioReturn per unit of downside risk | +1.05 | ||
| Omega ratioGain probability vs. loss probability | 0.89 | 0.78 | +0.11 |
| Calmar ratioReturn relative to maximum drawdown | -0.75 | -1.00 | +0.25 |
| Martin ratioReturn relative to average drawdown | -1.33 | -1.21 | -0.13 |
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
| KWE3.L | 3MST.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.74 | -0.50 | -0.24 |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.45 | -0.40 | -0.05 |
Drawdowns
KWE3.L vs. 3MST.L - Drawdown Comparison
The maximum KWE3.L drawdown since its inception was -98.72%, roughly equal to the maximum 3MST.L drawdown of -99.94%. Use the drawdown chart below to compare losses from any high point for KWE3.L and 3MST.L.
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Drawdown Indicators
| KWE3.L | 3MST.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -98.72% | -99.94% | +1.22% |
Max Drawdown (1Y)Largest decline over 1 year | -79.09% | -99.53% | +20.44% |
Max Drawdown (3Y)Largest decline over 3 years | -83.05% | — | — |
Current DrawdownCurrent decline from peak | -98.63% | -99.94% | +1.31% |
Average DrawdownAverage peak-to-trough decline | -90.36% | -85.39% | -4.97% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 44.53% | 82.32% | -37.79% |
Volatility
KWE3.L vs. 3MST.L - Volatility Comparison
The current volatility for Leverage Shares 3x Long China Tech ETC Securities (KWE3.L) is 36.15%, while Leverage Shares 3x Long MicroStrategy ETP (3MST.L) has a volatility of 61.01%. This indicates that KWE3.L experiences smaller price fluctuations and is considered to be less risky than 3MST.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| KWE3.L | 3MST.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 36.15% | 61.01% | -24.86% |
Volatility (6M)Calculated over the trailing 6-month period | 61.19% | 160.17% | -98.98% |
Volatility (1Y)Calculated over the trailing 1-year period | 80.73% | 198.97% | -118.24% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 136.42% | 236.29% | -99.87% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 136.42% | 236.29% | -99.87% |
KWE3.L vs. 3MST.L - Expense Ratio Comparison
Both KWE3.L and 3MST.L have an expense ratio of 0.75%.
Dividends
KWE3.L vs. 3MST.L - Dividend Comparison
Neither KWE3.L nor 3MST.L has paid dividends to shareholders.
Frequently Asked Questions
KWE3.L and 3MST.L have a correlation of 0.26, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
Both ETFs have the same 0.75% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.
KWE3.L and 3MST.L have the same expense ratio: 0.75% per year.
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