MRN3.L vs. 3GOE.L
MRN3.L (Leverage Shares 3x Long Moderna (MRNA) ETP Securities) and 3GOE.L (Leverage Shares 3x Alphabet ETP Scs) are both Leveraged Equities funds from Leverage Shares - MRN3.L tracks the iSTOXX Leveraged 3x MRNA Index while 3GOE.L tracks the iSTOXX Leveraged 3X GOOG Index. Both are passively managed. Over the past 3 years, MRN3.L returned -91.30%/yr vs 85.68%/yr for 3GOE.L. At a 0.15 correlation, their price movements are largely independent. Both charge a 0.75% expense ratio.
Performance
MRN3.L vs. 3GOE.L - Performance Comparison
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Returns By Period
In the year-to-date period, MRN3.L achieves a 156.89% return, which is significantly higher than 3GOE.L's 37.40% return.
MRN3.L
- 1D
- 26.04%
- 1M
- 7.48%
- YTD
- 156.89%
- 6M
- 233.08%
- 1Y
- 83.26%
- 3Y*
- -91.30%
- 5Y*
- —
- 10Y*
- —
3GOE.L
- 1D
- 10.59%
- 1M
- -19.25%
- YTD
- 37.40%
- 6M
- 24.96%
- 1Y
- 557.45%
- 3Y*
- 85.68%
- 5Y*
- 28.94%
- 10Y*
- —
MRN3.L vs. 3GOE.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% |
3GOE.L Leverage Shares 3x Alphabet ETP Scs | 37.40% | 133.65% | 89.16% | 159.88% | -86.56% | 5.04% |
Correlation
The correlation between MRN3.L and 3GOE.L is 0.15, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.15 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.14 |
Correlation (All Time) Calculated using the full available price history since Dec 16, 2021 | 0.15 |
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Return for Risk
MRN3.L vs. 3GOE.L — Risk / Return Rank
MRN3.L
3GOE.L
MRN3.L vs. 3GOE.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 Alphabet ETP Scs (3GOE.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 | 3GOE.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -6.47 | ||
| Sortino ratioReturn per unit of downside risk | -2.89 | ||
| Omega ratioGain probability vs. loss probability | 1.24 | 1.58 | -0.34 |
| Calmar ratioReturn relative to maximum drawdown | 0.79 | 11.56 | -10.77 |
| Martin ratioReturn relative to average drawdown | 1.25 | 36.18 | -34.94 |
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 | 3GOE.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.30 | 6.77 | -6.47 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | 0.32 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.43 | 0.59 | -1.02 |
Drawdowns
MRN3.L vs. 3GOE.L - Drawdown Comparison
The maximum MRN3.L drawdown since its inception was -100.00%, which is greater than 3GOE.L's maximum drawdown of -88.62%. Use the drawdown chart below to compare losses from any high point for MRN3.L and 3GOE.L.
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Drawdown Indicators
| MRN3.L | 3GOE.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -100.00% | -88.62% | -11.38% |
Max Drawdown (1Y)Largest decline over 1 year | -81.28% | -51.18% | -30.10% |
Max Drawdown (3Y)Largest decline over 3 years | -99.99% | -69.84% | -30.15% |
Max Drawdown (5Y)Largest decline over 5 years | — | -88.62% | — |
Current DrawdownCurrent decline from peak | -100.00% | -22.74% | -77.26% |
Average DrawdownAverage peak-to-trough decline | -97.63% | -43.41% | -54.22% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 51.56% | 16.39% | +35.17% |
Volatility
MRN3.L vs. 3GOE.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 Alphabet ETP Scs (3GOE.L) at 24.09%. This indicates that MRN3.L's price experiences larger fluctuations and is considered to be riskier than 3GOE.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 | 3GOE.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 57.82% | 24.09% | +33.73% |
Volatility (6M)Calculated over the trailing 6-month period | 163.07% | 55.21% | +107.86% |
Volatility (1Y)Calculated over the trailing 1-year period | 210.95% | 87.38% | +123.57% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 221.82% | 89.79% | +132.03% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 221.82% | 89.29% | +132.53% |
MRN3.L vs. 3GOE.L - Expense Ratio Comparison
Both MRN3.L and 3GOE.L have an expense ratio of 0.75%.
Dividends
MRN3.L vs. 3GOE.L - Dividend Comparison
Neither MRN3.L nor 3GOE.L has paid dividends to shareholders.
Frequently Asked Questions
MRN3.L and 3GOE.L have a correlation of 0.15, 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 3GOE.L have the same expense ratio: 0.75% per year.
MRN3.L tracks iSTOXX Leveraged 3x MRNA Index, while 3GOE.L tracks iSTOXX Leveraged 3X GOOG Index.
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