KWE3.L vs. JREC.L
KWE3.L (Leverage Shares 3x Long China Tech ETC Securities) and JREC.L (JPM China A Research Enhanced Index Equity Active UCITS ETF - USD (acc)) are both China Equities funds. Both are actively managed. Over the past 3 years, KWE3.L returned -40.96%/yr vs 11.15%/yr for JREC.L. A 0.59 correlation means they provide meaningful diversification when combined.
Performance
KWE3.L vs. JREC.L - Performance Comparison
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Returns By Period
In the year-to-date period, KWE3.L achieves a -60.11% return, which is significantly lower than JREC.L's 9.52% return.
KWE3.L
- 1D
- 10.62%
- 1M
- 2.18%
- 6M
- -67.46%
- YTD
- -60.11%
- 1Y
- -64.29%
- 3Y*
- -40.96%
- 5Y*
- —
- 10Y*
- —
JREC.L
- 1D
- -0.77%
- 1M
- -1.91%
- 6M
- 6.51%
- YTD
- 9.52%
- 1Y
- 32.83%
- 3Y*
- 11.15%
- 5Y*
- —
- 10Y*
- —
KWE3.L vs. JREC.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% | -87.01% |
JREC.L JPM China A Research Enhanced Index Equity Active UCITS ETF - USD (acc) | 9.52% | 28.38% | 9.65% | -13.02% | -19.50% |
Correlation
The correlation between KWE3.L and JREC.L is 0.53, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.53 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.62 |
Correlation (All Time) Calculated using the full available price history since Feb 15, 2022 | 0.59 |
The correlation between KWE3.L and JREC.L has been stable across timeframes, ranging from 0.53 to 0.62 - a consistent structural relationship.
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Return for Risk
KWE3.L vs. JREC.L — Risk / Return Rank
KWE3.L
JREC.L
KWE3.L vs. JREC.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 JPM China A Research Enhanced Index Equity Active UCITS ETF - USD (acc) (JREC.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 | JREC.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.53 | ||
| Sortino ratioReturn per unit of downside risk | -3.64 | ||
| Omega ratioGain probability vs. loss probability | 0.87 | 1.31 | -0.44 |
| Calmar ratioReturn relative to maximum drawdown | -0.75 | 4.53 | -5.28 |
| Martin ratioReturn relative to average drawdown | -1.23 | 12.00 | -13.23 |
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Drawdowns
KWE3.L vs. JREC.L - Drawdown Comparison
The maximum KWE3.L drawdown since its inception was -99.29%, which is greater than JREC.L's maximum drawdown of -37.92%. Use the drawdown chart below to compare losses from any high point for KWE3.L and JREC.L.
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Drawdown Indicators
| KWE3.L | JREC.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -99.29% | -37.92% | -61.37% |
Max Drawdown (1Y)Largest decline over 1 year | -85.64% | -7.22% | -78.42% |
Max Drawdown (3Y)Largest decline over 3 years | -88.36% | -27.06% | -61.30% |
Current DrawdownCurrent decline from peak | -98.95% | -5.30% | -93.65% |
Average DrawdownAverage peak-to-trough decline | -92.04% | -18.94% | -73.10% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 52.38% | 2.73% | +49.65% |
Volatility
KWE3.L vs. JREC.L - Volatility Comparison
Leverage Shares 3x Long China Tech ETC Securities (KWE3.L) has a higher volatility of 24.10% compared to JPM China A Research Enhanced Index Equity Active UCITS ETF - USD (acc) (JREC.L) at 8.90%. This indicates that KWE3.L's price experiences larger fluctuations and is considered to be riskier than JREC.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 | JREC.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 24.10% | 8.90% | +15.20% |
Volatility (6M)Calculated over the trailing 6-month period | 63.99% | 14.69% | +49.30% |
Volatility (1Y)Calculated over the trailing 1-year period | 82.22% | 18.76% | +63.46% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 134.82% | 23.02% | +111.80% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 134.82% | 23.02% | +111.80% |
Dividends
KWE3.L vs. JREC.L - Dividend Comparison
Neither KWE3.L nor JREC.L has paid dividends to shareholders.
Frequently Asked Questions
KWE3.L and JREC.L have a correlation of 0.53, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
They also come from different issuers: Leverage Shares and ETF Issuer.
Find the right allocation for KWE3.L and JREC.L
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