METI.L vs. SMH3.L
METI.L (IncomeShares META Options ETP GBP) and SMH3.L (Leverage Shares 3x Long Semiconductors ETP Securities) are both exchange-traded funds - METI.L is a Derivative Income fund actively managed by Leverage Shares, while SMH3.L is a Leveraged Equities fund actively managed by Leverage Shares. Both are actively managed. Over the past year, METI.L returned -21.99% vs 709.07% for SMH3.L. At a 0.40 correlation, their price movements are largely independent. METI.L charges 0.55%/yr vs 0.75%/yr for SMH3.L.
Performance
METI.L vs. SMH3.L - Performance Comparison
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Different Trading Currencies
METI.L is traded in GBp, while SMH3.L is traded in USD. To make them comparable, the SMH3.L values have been converted to GBp using the latest available exchange rates.
Returns By Period
In the year-to-date period, METI.L achieves a -17.17% return, which is significantly lower than SMH3.L's 244.77% return.
METI.L
- 1D
- 4.75%
- 1M
- 6.66%
- YTD
- -17.17%
- 6M
- -16.92%
- 1Y
- -21.99%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
SMH3.L
- 1D
- -14.80%
- 1M
- 22.46%
- YTD
- 244.77%
- 6M
- 229.08%
- 1Y
- 709.07%
- 3Y*
- 138.96%
- 5Y*
- —
- 10Y*
- —
METI.L vs. SMH3.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
METI.L IncomeShares META Options ETP GBP | -17.17% | -0.90% | 11.70% |
SMH3.L Leverage Shares 3x Long Semiconductors ETP Securities | 244.77% | 62.38% | -7.41% |
Correlation
The correlation between METI.L and SMH3.L is 0.32, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.32 |
Correlation (All Time) Calculated using the full available price history since Sep 27, 2024 | 0.40 |
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Return for Risk
METI.L vs. SMH3.L — Risk / Return Rank
METI.L
SMH3.L
METI.L vs. SMH3.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for IncomeShares META Options ETP GBP (METI.L) and Leverage Shares 3x Long Semiconductors ETP Securities (SMH3.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.
| METI.L | SMH3.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -8.29 | ||
| Sortino ratioReturn per unit of downside risk | -5.26 | ||
| Omega ratioGain probability vs. loss probability | 0.88 | 1.55 | -0.67 |
| Calmar ratioReturn relative to maximum drawdown | -0.56 | 18.70 | -19.26 |
| Martin ratioReturn relative to average drawdown | -1.06 | 59.69 | -60.76 |
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
| METI.L | SMH3.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.72 | 7.56 | -8.29 |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.16 | 0.47 | -0.63 |
Drawdowns
METI.L vs. SMH3.L - Drawdown Comparison
The maximum METI.L drawdown since its inception was -41.37%, smaller than the maximum SMH3.L drawdown of -87.38%. Use the drawdown chart below to compare losses from any high point for METI.L and SMH3.L.
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Drawdown Indicators
| METI.L | SMH3.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -41.37% | -87.38% | +46.01% |
Max Drawdown (1Y)Largest decline over 1 year | -38.70% | -37.56% | -1.14% |
Max Drawdown (3Y)Largest decline over 3 years | — | -84.63% | — |
Current DrawdownCurrent decline from peak | -34.12% | -20.23% | -13.89% |
Average DrawdownAverage peak-to-trough decline | -16.47% | -47.63% | +31.16% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 20.38% | 11.79% | +8.59% |
Volatility
METI.L vs. SMH3.L - Volatility Comparison
The current volatility for IncomeShares META Options ETP GBP (METI.L) is 7.69%, while Leverage Shares 3x Long Semiconductors ETP Securities (SMH3.L) has a volatility of 41.49%. This indicates that METI.L experiences smaller price fluctuations and is considered to be less risky than SMH3.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| METI.L | SMH3.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.69% | 41.49% | -33.80% |
Volatility (6M)Calculated over the trailing 6-month period | 23.51% | 72.14% | -48.63% |
Volatility (1Y)Calculated over the trailing 1-year period | 30.01% | 92.91% | -62.90% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 30.67% | 99.46% | -68.79% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 30.67% | 99.46% | -68.79% |
METI.L vs. SMH3.L - Expense Ratio Comparison
METI.L has a 0.55% expense ratio, which is lower than SMH3.L's 0.75% expense ratio.
Dividends
METI.L vs. SMH3.L - Dividend Comparison
METI.L's dividend yield for the trailing twelve months is around 18.64%, while SMH3.L has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 |
|---|---|---|---|
METI.L IncomeShares META Options ETP GBP | 18.64% | 20.59% | 3.05% |
SMH3.L Leverage Shares 3x Long Semiconductors ETP Securities | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
METI.L and SMH3.L have a correlation of 0.32, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, METI.L is cheaper at 0.55% per year. The better choice depends on whether you care most about return, fees, risk, or income.
METI.L is cheaper with a 0.55% expense ratio, compared with 0.75% for SMH3.L.
METI.L is categorized as Derivative Income, while SMH3.L is Leveraged Equities. Their fees differ too: 0.55% for METI.L and 0.75% for SMH3.L.
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