KWE3.L vs. CNSG.L
KWE3.L (Leverage Shares 3x Long China Tech ETC Securities) and CNSG.L (UBS ETF (LU) MSCI China ESG Universal Low Carbon Select UCITS ETF (USD) A-dis) are both China Equities funds. KWE3.L is actively managed, while CNSG.L is passively managed. Over the past 3 years, KWE3.L returned -40.96%/yr vs 7.93%/yr for CNSG.L. Their correlation of 0.86 suggests significant overlap in exposure. KWE3.L charges 0.75%/yr vs 0.45%/yr for CNSG.L.
Performance
KWE3.L vs. CNSG.L - Performance Comparison
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Different Trading Currencies
KWE3.L is traded in USD, while CNSG.L is traded in GBp. To make them comparable, the CNSG.L values have been converted to USD using the latest available exchange rates.
Returns By Period
In the year-to-date period, KWE3.L achieves a -60.11% return, which is significantly lower than CNSG.L's -5.46% return.
KWE3.L
- 1D
- 10.62%
- 1M
- 2.18%
- 6M
- -67.46%
- YTD
- -60.11%
- 1Y
- -64.29%
- 3Y*
- -40.96%
- 5Y*
- —
- 10Y*
- —
CNSG.L
- 1D
- 2.17%
- 1M
- -1.30%
- 6M
- -9.04%
- YTD
- -5.46%
- 1Y
- -1.44%
- 3Y*
- 7.93%
- 5Y*
- -4.26%
- 10Y*
- —
KWE3.L vs. CNSG.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
KWE3.L Leverage Shares 3x Long China Tech ETC Securities | -60.11% | 11.51% | -22.87% | -61.90% | -87.79% | -34.30% |
CNSG.L UBS ETF (LU) MSCI China ESG Universal Low Carbon Select UCITS ETF (USD) A-dis | -5.46% | 27.10% | 18.51% | -14.21% | -21.64% | -4.55% |
Correlation
The correlation between KWE3.L and CNSG.L is 0.86, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.86 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.87 |
Correlation (All Time) Calculated using the full available price history since Dec 10, 2021 | 0.86 |
The correlation between KWE3.L and CNSG.L has been stable across timeframes, ranging from 0.86 to 0.87 - a consistent structural relationship.
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Return for Risk
KWE3.L vs. CNSG.L — Risk / Return Rank
KWE3.L
CNSG.L
KWE3.L vs. CNSG.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 UBS ETF (LU) MSCI China ESG Universal Low Carbon Select UCITS ETF (USD) A-dis (CNSG.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 | CNSG.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.70 | ||
| Sortino ratioReturn per unit of downside risk | -1.19 | ||
| Omega ratioGain probability vs. loss probability | 0.87 | 1.00 | -0.13 |
| Calmar ratioReturn relative to maximum drawdown | -0.75 | -0.08 | -0.67 |
| Martin ratioReturn relative to average drawdown | -1.23 | -0.18 | -1.05 |
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Drawdowns
KWE3.L vs. CNSG.L - Drawdown Comparison
The maximum KWE3.L drawdown since its inception was -99.29%, which is greater than CNSG.L's maximum drawdown of -59.96%. Use the drawdown chart below to compare losses from any high point for KWE3.L and CNSG.L.
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Drawdown Indicators
| KWE3.L | CNSG.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -99.29% | -59.96% | -39.33% |
Max Drawdown (1Y)Largest decline over 1 year | -85.64% | -18.02% | -67.62% |
Max Drawdown (3Y)Largest decline over 3 years | -88.36% | -29.05% | -59.31% |
Max Drawdown (5Y)Largest decline over 5 years | — | -51.47% | — |
Current DrawdownCurrent decline from peak | -98.95% | -33.64% | -65.31% |
Average DrawdownAverage peak-to-trough decline | -92.04% | -32.70% | -59.34% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 52.38% | 7.93% | +44.45% |
Volatility
KWE3.L vs. CNSG.L - Volatility Comparison
Leverage Shares 3x Long China Tech ETC Securities (KWE3.L) has a higher volatility of 24.10% compared to UBS ETF (LU) MSCI China ESG Universal Low Carbon Select UCITS ETF (USD) A-dis (CNSG.L) at 5.80%. This indicates that KWE3.L's price experiences larger fluctuations and is considered to be riskier than CNSG.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 | CNSG.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 24.10% | 5.80% | +18.30% |
Volatility (6M)Calculated over the trailing 6-month period | 63.99% | 13.38% | +50.61% |
Volatility (1Y)Calculated over the trailing 1-year period | 82.22% | 17.95% | +64.27% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 134.82% | 28.74% | +106.08% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 134.82% | 27.57% | +107.25% |
KWE3.L vs. CNSG.L - Expense Ratio Comparison
KWE3.L has a 0.75% expense ratio, which is higher than CNSG.L's 0.45% expense ratio.
Dividends
KWE3.L vs. CNSG.L - Dividend Comparison
KWE3.L has not paid dividends to shareholders, while CNSG.L's dividend yield for the trailing twelve months is around 2.68%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|---|
CNSG.L UBS ETF (LU) MSCI China ESG Universal Low Carbon Select UCITS ETF (USD) A-dis | 2.68% | 2.57% | 0.85% | 2.00% | 1.80% | 1.35% | 0.74% |
KWE3.L Leverage Shares 3x Long China Tech ETC Securities | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
KWE3.L and CNSG.L have a correlation of 0.86, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, CNSG.L is cheaper at 0.45% per year. The better choice depends on whether you care most about return, fees, risk, or income.
CNSG.L is cheaper with a 0.45% expense ratio, compared with 0.75% for KWE3.L.
They also come from different issuers: Leverage Shares and UBS. Their fees differ too: 0.75% for KWE3.L and 0.45% for CNSG.L.
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