KWE3.L vs. JRCD.L
KWE3.L (Leverage Shares 3x Long China Tech ETC Securities) and JRCD.L (JPMorgan China A Research Enhanced Index Equity (ESG) UCITS ETF USD (dist)) are both China Equities funds. KWE3.L is actively managed, while JRCD.L is passively managed. Over the past 3 years, KWE3.L returned -40.96%/yr vs 11.17%/yr for JRCD.L. A 0.59 correlation means they provide meaningful diversification when combined. KWE3.L charges 0.75%/yr vs 0.40%/yr for JRCD.L.
Performance
KWE3.L vs. JRCD.L - Performance Comparison
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Different Trading Currencies
KWE3.L is traded in USD, while JRCD.L is traded in GBp. To make them comparable, the JRCD.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 JRCD.L's 10,918.34% return.
KWE3.L
- 1D
- 10.62%
- 1M
- 2.18%
- 6M
- -67.46%
- YTD
- -60.11%
- 1Y
- -64.29%
- 3Y*
- -40.96%
- 5Y*
- —
- 10Y*
- —
JRCD.L
- 1D
- 0.00%
- 1M
- 9,793.27%
- 6M
- 7.31%
- YTD
- 10,918.34%
- 1Y
- 33.89%
- 3Y*
- 11.17%
- 5Y*
- —
- 10Y*
- —
KWE3.L vs. JRCD.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% | -85.66% |
JRCD.L JPMorgan China A Research Enhanced Index Equity (ESG) UCITS ETF USD (dist) | 10,918.34% | -98.71% | 9.57% | -13.40% | -19.45% |
Correlation
The correlation between KWE3.L and JRCD.L is 0.44, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.44 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.57 |
Correlation (All Time) Calculated using the full available price history since Feb 21, 2022 | 0.59 |
The correlation between KWE3.L and JRCD.L shifts across timeframes, from 0.44 (1 year) to 0.59 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
KWE3.L vs. JRCD.L — Risk / Return Rank
KWE3.L
JRCD.L
KWE3.L vs. JRCD.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 JPMorgan China A Research Enhanced Index Equity (ESG) UCITS ETF USD (dist) (JRCD.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 | JRCD.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.79 | ||
| Sortino ratioReturn per unit of downside risk | -282.00 | ||
| Omega ratioGain probability vs. loss probability | 0.87 | 90.12 | -89.25 |
| Calmar ratioReturn relative to maximum drawdown | -0.75 | 0.35 | -1.10 |
| Martin ratioReturn relative to average drawdown | -1.23 | 0.69 | -1.92 |
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Drawdowns
KWE3.L vs. JRCD.L - Drawdown Comparison
The maximum KWE3.L drawdown since its inception was -99.29%, roughly equal to the maximum JRCD.L drawdown of -99.18%. Use the drawdown chart below to compare losses from any high point for KWE3.L and JRCD.L.
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Drawdown Indicators
| KWE3.L | JRCD.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -99.29% | -99.18% | -0.11% |
Max Drawdown (1Y)Largest decline over 1 year | -85.64% | -99.07% | +13.43% |
Max Drawdown (3Y)Largest decline over 3 years | -88.36% | -99.13% | +10.77% |
Current DrawdownCurrent decline from peak | -98.95% | -3.69% | -95.26% |
Average DrawdownAverage peak-to-trough decline | -92.04% | -24.55% | -67.49% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 52.38% | 49.56% | +2.82% |
Volatility
KWE3.L vs. JRCD.L - Volatility Comparison
The current volatility for Leverage Shares 3x Long China Tech ETC Securities (KWE3.L) is 24.10%, while JPMorgan China A Research Enhanced Index Equity (ESG) UCITS ETF USD (dist) (JRCD.L) has a volatility of 457.76%. This indicates that KWE3.L experiences smaller price fluctuations and is considered to be less risky than JRCD.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 | JRCD.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 24.10% | 457.76% | -433.66% |
Volatility (6M)Calculated over the trailing 6-month period | 63.99% | 1,384.21% | -1,320.22% |
Volatility (1Y)Calculated over the trailing 1-year period | 82.22% | 27,655.22% | -27,573.00% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 134.82% | 13,297.45% | -13,162.63% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 134.82% | 13,297.45% | -13,162.63% |
KWE3.L vs. JRCD.L - Expense Ratio Comparison
KWE3.L has a 0.75% expense ratio, which is higher than JRCD.L's 0.40% expense ratio.
Dividends
KWE3.L vs. JRCD.L - Dividend Comparison
KWE3.L has not paid dividends to shareholders, while JRCD.L's dividend yield for the trailing twelve months is around 1.62%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
JRCD.L JPMorgan China A Research Enhanced Index Equity (ESG) UCITS ETF USD (dist) | 1.62% | 203.95% | 1.97% | 1.67% | 1.88% |
KWE3.L Leverage Shares 3x Long China Tech ETC Securities | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
KWE3.L and JRCD.L have a correlation of 0.44, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, JRCD.L is cheaper at 0.40% per year. The better choice depends on whether you care most about return, fees, risk, or income.
JRCD.L is cheaper with a 0.40% expense ratio, compared with 0.75% for KWE3.L.
They also come from different issuers: Leverage Shares and JPMorgan. Their fees differ too: 0.75% for KWE3.L and 0.40% for JRCD.L.
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