KWE3.L vs. C500.L
KWE3.L (Leverage Shares 3x Long China Tech ETC Securities) and C500.L (Invesco S&P China A MidCap 500 Swap UCITS ETF Acc) are both China Equities funds. KWE3.L is actively managed, while C500.L is passively managed. Over the past 3 years, KWE3.L returned -40.96%/yr vs 3.42%/yr for C500.L. A 0.50 correlation means they provide meaningful diversification when combined. KWE3.L charges 0.75%/yr vs 0.35%/yr for C500.L.
Performance
KWE3.L vs. C500.L - Performance Comparison
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Returns By Period
KWE3.L
- 1D
- 10.62%
- 1M
- 2.18%
- 6M
- -67.46%
- YTD
- -60.11%
- 1Y
- -64.29%
- 3Y*
- -40.96%
- 5Y*
- —
- 10Y*
- —
C500.L
- 1D
- 0.00%
- 1M
- 0.00%
- 6M
- 0.00%
- YTD
- 0.00%
- 1Y
- 0.00%
- 3Y*
- 3.42%
- 5Y*
- —
- 10Y*
- —
KWE3.L vs. C500.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
KWE3.L Leverage Shares 3x Long China Tech ETC Securities | -60.11% | 11.51% | -22.87% | -61.90% | -33.55% |
C500.L Invesco S&P China A MidCap 500 Swap UCITS ETF Acc | 0.00% | 6.99% | 12.50% | -9.06% | 11.25% |
Correlation
The correlation between KWE3.L and C500.L is 0.50, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (3Y) Calculated over the trailing 3-year period | 0.50 |
Correlation (All Time) Calculated using the full available price history since May 9, 2022 | 0.50 |
The correlation between KWE3.L and C500.L has been stable across timeframes, ranging from 0.50 to 0.50 - a consistent structural relationship.
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Return for Risk
KWE3.L vs. C500.L — Risk / Return Rank
KWE3.L
C500.L
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
KWE3.L vs. C500.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 Invesco S&P China A MidCap 500 Swap UCITS ETF Acc (C500.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.
| KWE3.L | C500.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | 0.87 | — | — |
| Calmar ratioReturn relative to maximum drawdown | -0.75 | — | — |
| Martin ratioReturn relative to average drawdown | -1.23 | — | — |
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Drawdowns
KWE3.L vs. C500.L - Drawdown Comparison
The maximum KWE3.L drawdown since its inception was -99.29%, which is greater than C500.L's maximum drawdown of -35.90%. Use the drawdown chart below to compare losses from any high point for KWE3.L and C500.L.
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Drawdown Indicators
| KWE3.L | C500.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -99.29% | -35.90% | -63.39% |
Max Drawdown (1Y)Largest decline over 1 year | -85.64% | 0.00% | -85.64% |
Max Drawdown (3Y)Largest decline over 3 years | -88.36% | -27.05% | -61.31% |
Current DrawdownCurrent decline from peak | -98.95% | -11.28% | -87.67% |
Average DrawdownAverage peak-to-trough decline | -92.04% | -14.01% | -78.03% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 52.38% | 0.00% | +52.38% |
Volatility
KWE3.L vs. C500.L - Volatility Comparison
Leverage Shares 3x Long China Tech ETC Securities (KWE3.L) has a higher volatility of 24.10% compared to Invesco S&P China A MidCap 500 Swap UCITS ETF Acc (C500.L) at 0.00%. This indicates that KWE3.L's price experiences larger fluctuations and is considered to be riskier than C500.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 | C500.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 24.10% | 0.00% | +24.10% |
Volatility (6M)Calculated over the trailing 6-month period | 63.99% | 0.00% | +63.99% |
Volatility (1Y)Calculated over the trailing 1-year period | 82.22% | 0.00% | +82.22% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 134.82% | 23.51% | +111.31% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 134.82% | 23.51% | +111.31% |
KWE3.L vs. C500.L - Expense Ratio Comparison
KWE3.L has a 0.75% expense ratio, which is higher than C500.L's 0.35% expense ratio.
Dividends
KWE3.L vs. C500.L - Dividend Comparison
Neither KWE3.L nor C500.L has paid dividends to shareholders.
Frequently Asked Questions
KWE3.L and C500.L have a correlation of 0.50, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, C500.L is cheaper at 0.35% per year. The better choice depends on whether you care most about return, fees, risk, or income.
C500.L is cheaper with a 0.35% expense ratio, compared with 0.75% for KWE3.L.
They also come from different issuers: Leverage Shares and Invesco. Their fees differ too: 0.75% for KWE3.L and 0.35% for C500.L.
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