KWE3.L vs. CWEB
Compare and contrast key facts about Leverage Shares 3x Long China Tech ETC Securities (KWE3.L) and Direxion Daily CSI China Internet Index Bull 2x Shares (CWEB).
KWE3.L and CWEB are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. KWE3.L is an actively managed fund by Leverage Shares. It was launched on Dec 10, 2021. CWEB is a passively managed fund by Direxion that tracks the performance of the CSI China Overseas Internet Index (200%). It was launched on Nov 2, 2016.
Performance
KWE3.L vs. CWEB - Performance Comparison
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KWE3.L vs. CWEB - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
KWE3.L Leverage Shares 3x Long China Tech ETC Securities | -48.88% | 11.50% | -22.89% | -61.89% | -87.79% | -17.62% |
CWEB Direxion Daily CSI China Internet Index Bull 2x Shares | -33.52% | 29.04% | 0.12% | -32.85% | -59.43% | -3.24% |
Returns By Period
In the year-to-date period, KWE3.L achieves a -48.88% return, which is significantly lower than CWEB's -33.52% return.
KWE3.L
- 1D
- 4.80%
- 1M
- -21.55%
- YTD
- -48.88%
- 6M
- -71.40%
- 1Y
- -61.53%
- 3Y*
- -42.77%
- 5Y*
- —
- 10Y*
- —
CWEB
- 1D
- -1.23%
- 1M
- -15.96%
- YTD
- -33.52%
- 6M
- -53.39%
- 1Y
- -37.03%
- 3Y*
- -16.84%
- 5Y*
- -45.23%
- 10Y*
- —
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KWE3.L vs. CWEB - Expense Ratio Comparison
KWE3.L has a 0.75% expense ratio, which is lower than CWEB's 1.30% expense ratio.
Return for Risk
KWE3.L vs. CWEB — Risk / Return Rank
KWE3.L
CWEB
KWE3.L vs. CWEB - 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 Direxion Daily CSI China Internet Index Bull 2x Shares (CWEB). 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 | CWEB | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | -0.71 | -0.63 | -0.08 |
Sortino ratioReturn per unit of downside risk | -0.93 | -0.67 | -0.26 |
Omega ratioGain probability vs. loss probability | 0.89 | 0.92 | -0.03 |
Calmar ratioReturn relative to maximum drawdown | -0.82 | -0.65 | -0.17 |
Martin ratioReturn relative to average drawdown | -1.73 | -1.52 | -0.21 |
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 | CWEB | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.71 | -0.63 | -0.08 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | -0.48 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.45 | -0.24 | -0.20 |
Correlation
The correlation between KWE3.L and CWEB is 0.82, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.
Dividends
KWE3.L vs. CWEB - Dividend Comparison
KWE3.L has not paid dividends to shareholders, while CWEB's dividend yield for the trailing twelve months is around 5.08%.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
KWE3.L Leverage Shares 3x Long China Tech ETC Securities | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
CWEB Direxion Daily CSI China Internet Index Bull 2x Shares | 5.08% | 2.77% | 4.59% | 2.63% | 0.00% | 0.00% | 0.00% | 0.64% | 1.59% | 2.98% |
Drawdowns
KWE3.L vs. CWEB - Drawdown Comparison
The maximum KWE3.L drawdown since its inception was -98.42%, roughly equal to the maximum CWEB drawdown of -98.09%. Use the drawdown chart below to compare losses from any high point for KWE3.L and CWEB.
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Drawdown Indicators
| KWE3.L | CWEB | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -98.42% | -98.09% | -0.33% |
Max Drawdown (1Y)Largest decline over 1 year | -74.02% | -56.15% | -17.87% |
Max Drawdown (5Y)Largest decline over 5 years | — | -96.62% | — |
Current DrawdownCurrent decline from peak | -98.34% | -97.29% | -1.05% |
Average DrawdownAverage peak-to-trough decline | -90.05% | -64.84% | -25.21% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 34.93% | 23.96% | +10.97% |
Volatility
KWE3.L vs. CWEB - Volatility Comparison
Leverage Shares 3x Long China Tech ETC Securities (KWE3.L) has a higher volatility of 26.88% compared to Direxion Daily CSI China Internet Index Bull 2x Shares (CWEB) at 17.51%. This indicates that KWE3.L's price experiences larger fluctuations and is considered to be riskier than CWEB 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 | CWEB | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 26.88% | 17.51% | +9.37% |
Volatility (6M)Calculated over the trailing 6-month period | 53.44% | 38.34% | +15.10% |
Volatility (1Y)Calculated over the trailing 1-year period | 86.04% | 58.92% | +27.12% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 137.43% | 94.37% | +43.06% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 137.43% | 80.95% | +56.48% |