MRN3.L vs. 3APE.L
MRN3.L (Leverage Shares 3x Long Moderna (MRNA) ETP Securities) and 3APE.L (Leverage Shares 3x Apple ETC EUR) are both Leveraged Equities funds from Leverage Shares - MRN3.L tracks the iSTOXX Leveraged 3x MRNA Index while 3APE.L tracks the iSTOXX Leveraged 3X AAPL Index. Both are passively managed. Over the past 3 years, MRN3.L returned -91.30%/yr vs 19.27%/yr for 3APE.L. At a 0.16 correlation, their price movements are largely independent. Both charge a 0.75% expense ratio.
Performance
MRN3.L vs. 3APE.L - Performance Comparison
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Different Trading Currencies
MRN3.L is traded in USD, while 3APE.L is traded in EUR. To make them comparable, the 3APE.L values have been converted to USD using the latest available exchange rates.
Returns By Period
In the year-to-date period, MRN3.L achieves a 156.89% return, which is significantly higher than 3APE.L's 29.80% return.
MRN3.L
- 1D
- 26.04%
- 1M
- 21.33%
- YTD
- 156.89%
- 6M
- 287.40%
- 1Y
- 64.51%
- 3Y*
- -91.30%
- 5Y*
- —
- 10Y*
- —
3APE.L
- 1D
- -1.15%
- 1M
- 33.33%
- YTD
- 29.80%
- 6M
- 17.74%
- 1Y
- 160.23%
- 3Y*
- 19.27%
- 5Y*
- 23.80%
- 10Y*
- —
MRN3.L vs. 3APE.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
MRN3.L Leverage Shares 3x Long Moderna (MRNA) ETP Securities | 156.89% | -93.67% | -98.51% | -92.76% | -92.21% | -36.68% |
3APE.L Leverage Shares 3x Apple ETC EUR | 29.80% | -22.68% | 67.09% | 165.81% | -75.72% | 6.88% |
Correlation
The correlation between MRN3.L and 3APE.L is 0.16, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.16 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.15 |
Correlation (All Time) Calculated using the full available price history since Dec 16, 2021 | 0.16 |
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Return for Risk
MRN3.L vs. 3APE.L — Risk / Return Rank
MRN3.L
3APE.L
MRN3.L vs. 3APE.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Leverage Shares 3x Long Moderna (MRNA) ETP Securities (MRN3.L) and Leverage Shares 3x Apple ETC EUR (3APE.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.
| MRN3.L | 3APE.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.99 | ||
| Sortino ratioReturn per unit of downside risk | -0.78 | ||
| Omega ratioGain probability vs. loss probability | 1.24 | 1.34 | -0.10 |
| Calmar ratioReturn relative to maximum drawdown | 0.79 | 3.81 | -3.02 |
| Martin ratioReturn relative to average drawdown | 1.25 | 8.84 | -7.59 |
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
| MRN3.L | 3APE.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.30 | 2.30 | -1.99 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | 0.30 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.43 | 0.31 | -0.74 |
Drawdowns
MRN3.L vs. 3APE.L - Drawdown Comparison
The maximum MRN3.L drawdown since its inception was -100.00%, which is greater than 3APE.L's maximum drawdown of -78.44%. Use the drawdown chart below to compare losses from any high point for MRN3.L and 3APE.L.
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Drawdown Indicators
| MRN3.L | 3APE.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -100.00% | -78.44% | -21.56% |
Max Drawdown (1Y)Largest decline over 1 year | -81.28% | -41.80% | -39.48% |
Max Drawdown (3Y)Largest decline over 3 years | -99.99% | -72.59% | -27.40% |
Max Drawdown (5Y)Largest decline over 5 years | — | -78.44% | — |
Current DrawdownCurrent decline from peak | -100.00% | -2.79% | -97.21% |
Average DrawdownAverage peak-to-trough decline | -97.63% | -37.05% | -60.58% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 51.56% | 18.04% | +33.52% |
Volatility
MRN3.L vs. 3APE.L - Volatility Comparison
Leverage Shares 3x Long Moderna (MRNA) ETP Securities (MRN3.L) has a higher volatility of 57.82% compared to Leverage Shares 3x Apple ETC EUR (3APE.L) at 15.01%. This indicates that MRN3.L's price experiences larger fluctuations and is considered to be riskier than 3APE.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| MRN3.L | 3APE.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 57.82% | 15.01% | +42.81% |
Volatility (6M)Calculated over the trailing 6-month period | 163.07% | 49.91% | +113.16% |
Volatility (1Y)Calculated over the trailing 1-year period | 210.95% | 69.30% | +141.65% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 221.82% | 80.88% | +140.94% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 221.82% | 85.19% | +136.63% |
MRN3.L vs. 3APE.L - Expense Ratio Comparison
Both MRN3.L and 3APE.L have an expense ratio of 0.75%.
Dividends
MRN3.L vs. 3APE.L - Dividend Comparison
Neither MRN3.L nor 3APE.L has paid dividends to shareholders.
Frequently Asked Questions
MRN3.L and 3APE.L have a correlation of 0.16, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
Both ETFs have the same 0.75% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.
MRN3.L and 3APE.L have the same expense ratio: 0.75% per year.
MRN3.L tracks iSTOXX Leveraged 3x MRNA Index, while 3APE.L tracks iSTOXX Leveraged 3X AAPL Index.
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