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NICK.L vs. 3USL.L
Performance
Return for Risk
Drawdowns
Volatility
Dividends

NICK.L vs. 3USL.L

Last updated Jun 5, 2026

NICK.L (WisdomTree Nickel) and 3USL.L (WisdomTree S&P 500 3x Daily Leveraged GB) are both exchange-traded funds - NICK.L is a Metals fund tracking the Bloomberg Nickel, while 3USL.L is a Leveraged Equities fund tracking the S&P 500 Net Total Returns Index. Both are passively managed. Over the past 10 years, NICK.L returned 6.28%/yr vs 28.49%/yr for 3USL.L. At a 0.23 correlation, their price movements are largely independent. NICK.L charges 0.49%/yr vs 0.75%/yr for 3USL.L.

Performance

NICK.L vs. 3USL.L - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in WisdomTree Nickel (NICK.L) and WisdomTree S&P 500 3x Daily Leveraged GB (3USL.L). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, NICK.L achieves a 10.65% return, which is significantly lower than 3USL.L's 25.13% return. Over the past 10 years, NICK.L has underperformed 3USL.L with an annualized return of 6.28%, while 3USL.L has yielded a comparatively higher 28.49% annualized return.

NICK.L

1D
-1.03%
1M
-5.12%
YTD
10.65%
6M
23.90%
1Y
18.75%
3Y*
-5.71%
5Y*
-0.66%
10Y*
6.28%

3USL.L

1D
-0.02%
1M
12.76%
YTD
25.13%
6M
26.49%
1Y
77.77%
3Y*
50.50%
5Y*
22.25%
10Y*
28.49%
*Multi-year figures are annualized to reflect compound growth (CAGR)

NICK.L vs. 3USL.L - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
NICK.L
WisdomTree Nickel		10.65%6.27%-8.39%-46.66%46.43%23.82%14.32%32.82%-14.50%18.74%
3USL.L
WisdomTree S&P 500 3x Daily Leveraged GB		25.13%28.97%64.00%70.49%-57.35%101.77%7.89%97.98%-27.34%69.34%

Correlation

The correlation between NICK.L and 3USL.L is 0.22, which is low. Their price movements are largely independent, making them effective diversification partners.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.22

Correlation (3Y)
Calculated over the trailing 3-year period

0.17

Correlation (5Y)
Calculated over the trailing 5-year period

0.21

Correlation (10Y)
Calculated over the trailing 10-year period

0.23

Correlation (All Time)
Calculated using the full available price history since May 14, 2013

0.23

NICK.L vs. 3USL.L - Sectors Allocation Comparison

Sectors
NICK.L
3USL.L

Basic Materials

100.0%
1.5%

Communication Services

-

10.4%

Consumer Cyclical

-

10.7%

Consumer Defensive

-

4.7%

Energy

-

2.8%

Financial Services

-

12.6%

Healthcare

-

9.0%

Industrials

-

7.4%

Real Estate

-

1.8%

Technology

-

36.9%

Utilities

-

2.3%

Basic Materials

NICK.L
100.0%
3USL.L
1.5%

Communication Services

NICK.L

-

3USL.L
10.4%

Consumer Cyclical

NICK.L

-

3USL.L
10.7%

Consumer Defensive

NICK.L

-

3USL.L
4.7%

Energy

NICK.L

-

3USL.L
2.8%

Financial Services

NICK.L

-

3USL.L
12.6%

Healthcare

NICK.L

-

3USL.L
9.0%

Industrials

NICK.L

-

3USL.L
7.4%

Real Estate

NICK.L

-

3USL.L
1.8%

Technology

NICK.L

-

3USL.L
36.9%

Utilities

NICK.L

-

3USL.L
2.3%

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WisdomTree Nickel

WisdomTree S&P 500 3x Daily Leveraged GB

Often compared with NICK.L:
NICK.L vs. NOBLNICK.L vs. SPYNICK.L vs. TLTNICK.L vs. META.LNICK.L vs. XRH0.LNICK.L vs. ALUM.LNICK.L vs. AMPS.L
Often compared with 3USL.L:
3USL.L vs. UPRO3USL.L vs. TQQQ3USL.L vs. RMQAX3USL.L vs. VUAA.L3USL.L vs. CL2.F3USL.L vs. QQQ3USL.L vs. ^GSPC

Return for Risk

NICK.L vs. 3USL.L — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
NICK.L
NICK.L Risk / Return Rank: 2828
Overall Rank
NICK.L Sharpe Ratio Rank: 2323
Sharpe Ratio Rank
NICK.L Sortino Ratio Rank: 2525
Sortino Ratio Rank
NICK.L Omega Ratio Rank: 2626
Omega Ratio Rank
NICK.L Calmar Ratio Rank: 3838
Calmar Ratio Rank
NICK.L Martin Ratio Rank: 2828
Martin Ratio Rank
3USL.L
3USL.L Risk / Return Rank: 6565
Overall Rank
3USL.L Sharpe Ratio Rank: 7070
Sharpe Ratio Rank
3USL.L Sortino Ratio Rank: 6464
Sortino Ratio Rank
3USL.L Omega Ratio Rank: 6060
Omega Ratio Rank
3USL.L Calmar Ratio Rank: 6363
Calmar Ratio Rank
3USL.L Martin Ratio Rank: 6767
Martin Ratio Rank
The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

NICK.L vs. 3USL.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for WisdomTree Nickel (NICK.L) and WisdomTree S&P 500 3x Daily Leveraged GB (3USL.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.

NICK.L3USL.LDifference
Sharpe ratioReturn per unit of total volatility
0.76
2.25

-1.49

Sortino ratioReturn per unit of downside risk
1.32
2.94

-1.62

Omega ratioGain probability vs. loss probability

1.17

1.36

-0.19

Calmar ratioReturn relative to maximum drawdown

1.82

3.06

-1.24

Martin ratioReturn relative to average drawdown

3.88

12.28

-8.41

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

NICK.L vs. 3USL.L - Sharpe Ratio Comparison

The current NICK.L Sharpe Ratio is 0.76, which is lower than the 3USL.L Sharpe Ratio of 2.25. The chart below compares the historical Sharpe Ratios of NICK.L and 3USL.L, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Sharpe Ratios by Period

NICK.L3USL.LDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

0.76

2.25

-1.49

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

-0.01

0.47

-0.48

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.17

0.59

-0.41

Sharpe Ratio (All Time)

Calculated using the full available price history

-0.09

0.60

-0.68

Drawdowns

NICK.L vs. 3USL.L - Drawdown Comparison

The maximum NICK.L drawdown since its inception was -87.80%, which is greater than 3USL.L's maximum drawdown of -76.72%. Use the drawdown chart below to compare losses from any high point for NICK.L and 3USL.L.

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Drawdown Indicators

NICK.L3USL.LDifference

Max Drawdown

Largest peak-to-trough decline

-87.80%

-76.72%

-11.08%

Max Drawdown (1Y)

Largest decline over 1 year

-10.26%

-25.29%

+15.03%

Max Drawdown (3Y)

Largest decline over 3 years

-40.82%

-48.69%

+7.87%

Max Drawdown (5Y)

Largest decline over 5 years

-71.83%

-63.47%

-8.36%

Max Drawdown (10Y)

Largest decline over 10 years

-71.83%

-76.72%

+4.89%

Current Drawdown

Current decline from peak

-74.59%

-1.82%

-72.77%

Average Drawdown

Average peak-to-trough decline

-70.10%

-15.26%

-54.84%

Ulcer Index

Depth and duration of drawdowns from previous peaks

4.80%

6.31%

-1.51%

Volatility

NICK.L vs. 3USL.L - Volatility Comparison

The current volatility for WisdomTree Nickel (NICK.L) is 6.02%, while WisdomTree S&P 500 3x Daily Leveraged GB (3USL.L) has a volatility of 9.42%. This indicates that NICK.L experiences smaller price fluctuations and is considered to be less risky than 3USL.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

NICK.L3USL.LDifference

Volatility (1M)

Calculated over the trailing 1-month period

6.02%

9.42%

-3.40%

Volatility (6M)

Calculated over the trailing 6-month period

22.98%

25.26%

-2.28%

Volatility (1Y)

Calculated over the trailing 1-year period

24.65%

34.36%

-9.71%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

44.13%

47.39%

-3.26%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

36.48%

48.51%

-12.03%

NICK.L vs. 3USL.L - Expense Ratio Comparison

NICK.L has a 0.49% expense ratio, which is lower than 3USL.L's 0.75% expense ratio.

Dividends

NICK.L vs. 3USL.L - Dividend Comparison

Neither NICK.L nor 3USL.L has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

NICK.L and 3USL.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, NICK.L is cheaper at 0.49% per year. The better choice depends on whether you care most about return, fees, risk, or income.

NICK.L is cheaper with a 0.49% expense ratio, compared with 0.75% for 3USL.L.

NICK.L is categorized as Metals, while 3USL.L is Leveraged Equities. NICK.L tracks Bloomberg Nickel, while 3USL.L tracks S&P 500 Net Total Returns Index. Their fees differ too: 0.49% for NICK.L and 0.75% for 3USL.L.

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