MRN3.L vs. MSTI.L
MRN3.L (Leverage Shares 3x Long Moderna (MRNA) ETP Securities) and MSTI.L (IncomeShares Microstrategy (MSTR) Options ETP) are both exchange-traded funds - MRN3.L is a Leveraged Equities fund tracking the iSTOXX Leveraged 3x MRNA Index, while MSTI.L is a Derivative Income fund actively managed by Leverage Shares. MRN3.L is passively managed, while MSTI.L is actively managed. At a 0.22 correlation, their price movements are largely independent. MRN3.L charges 0.75%/yr vs 0.55%/yr for MSTI.L.
Performance
MRN3.L vs. MSTI.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 MSTI.L's -55.10% return.
MRN3.L
- 1D
- 26.04%
- 1M
- 21.33%
- YTD
- 156.89%
- 6M
- 287.40%
- 1Y
- 64.51%
- 3Y*
- -91.30%
- 5Y*
- —
- 10Y*
- —
MSTI.L
- 1D
- -3.56%
- 1M
- -36.16%
- YTD
- -55.10%
- 6M
- -60.57%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
MRN3.L vs. MSTI.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
MRN3.L Leverage Shares 3x Long Moderna (MRNA) ETP Securities | 156.89% | -34.17% |
MSTI.L IncomeShares Microstrategy (MSTR) Options ETP | -55.10% | -61.38% |
Correlation
The correlation between MRN3.L and MSTI.L is 0.22, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since Jul 1, 2025 | 0.22 |
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Return for Risk
MRN3.L vs. MSTI.L — Risk / Return Rank
MRN3.L
MSTI.L
MRN3.L vs. MSTI.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 IncomeShares Microstrategy (MSTR) Options ETP (MSTI.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 | MSTI.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | 1.24 | — | — |
| Calmar ratioReturn relative to maximum drawdown | 0.79 | — | — |
| Martin ratioReturn relative to average drawdown | 1.25 | — | — |
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 | MSTI.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.30 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.43 | -1.36 | +0.93 |
Drawdowns
MRN3.L vs. MSTI.L - Drawdown Comparison
The maximum MRN3.L drawdown since its inception was -100.00%, which is greater than MSTI.L's maximum drawdown of -85.28%. Use the drawdown chart below to compare losses from any high point for MRN3.L and MSTI.L.
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Drawdown Indicators
| MRN3.L | MSTI.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -100.00% | -85.28% | -14.72% |
Max Drawdown (1Y)Largest decline over 1 year | -81.28% | — | — |
Max Drawdown (3Y)Largest decline over 3 years | -99.99% | — | — |
Current DrawdownCurrent decline from peak | -100.00% | -85.28% | -14.72% |
Average DrawdownAverage peak-to-trough decline | -97.63% | -52.74% | -44.89% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 51.56% | — | — |
Volatility
MRN3.L vs. MSTI.L - Volatility Comparison
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Volatility by Period
| MRN3.L | MSTI.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 57.82% | — | — |
Volatility (6M)Calculated over the trailing 6-month period | 163.07% | — | — |
Volatility (1Y)Calculated over the trailing 1-year period | 210.95% | 62.48% | +148.47% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 221.82% | 62.48% | +159.34% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 221.82% | 62.48% | +159.34% |
MRN3.L vs. MSTI.L - Expense Ratio Comparison
MRN3.L has a 0.75% expense ratio, which is higher than MSTI.L's 0.55% expense ratio.
Dividends
MRN3.L vs. MSTI.L - Dividend Comparison
MRN3.L has not paid dividends to shareholders, while MSTI.L's dividend yield for the trailing twelve months is around 1.50%.
| Position | TTM | 2025 |
|---|---|---|
MRN3.L Leverage Shares 3x Long Moderna (MRNA) ETP Securities | 0.00% | 0.00% |
MSTI.L IncomeShares Microstrategy (MSTR) Options ETP | 1.50% | 0.16% |
Frequently Asked Questions
MRN3.L and MSTI.L have a correlation of 0.22, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, MSTI.L is cheaper at 0.55% per year. The better choice depends on whether you care most about return, fees, risk, or income.
MSTI.L is cheaper with a 0.55% expense ratio, compared with 0.75% for MRN3.L.
MRN3.L is categorized as Leveraged Equities, while MSTI.L is Derivative Income. Their fees differ too: 0.75% for MRN3.L and 0.55% for MSTI.L.
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