QBTX vs. 3MST.L
QBTX (Tradr 2X Long QBTS Daily ETF) and 3MST.L (Leverage Shares 3x Long MicroStrategy ETP) are both Leveraged Equities funds. Over the past year, QBTX returned -24.24% vs -26.31% for 3MST.L. At a 0.31 correlation, their price movements are largely independent. QBTX charges 1.30%/yr vs 0.75%/yr for 3MST.L.
Performance
QBTX vs. 3MST.L - Performance Comparison
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Returns By Period
In the year-to-date period, QBTX achieves a -49.88% return, which is significantly lower than 3MST.L's 1,808.30% return.
QBTX
- 1D
- 4.15%
- 1M
- -34.95%
- YTD
- -49.88%
- 6M
- -60.48%
- 1Y
- -24.24%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
3MST.L
- 1D
- 0.00%
- 1M
- -70.58%
- YTD
- 1,808.30%
- 6M
- 1,688.58%
- 1Y
- -26.31%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
QBTX vs. 3MST.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
QBTX Tradr 2X Long QBTS Daily ETF | -49.88% | 339.28% |
3MST.L Leverage Shares 3x Long MicroStrategy ETP | 1,808.30% | -96.03% |
Correlation
The correlation between QBTX and 3MST.L is 0.34, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.34 |
Correlation (All Time) Calculated using the full available price history since Apr 25, 2025 | 0.31 |
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Return for Risk
QBTX vs. 3MST.L — Risk / Return Rank
QBTX
3MST.L
QBTX vs. 3MST.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Tradr 2X Long QBTS Daily ETF (QBTX) and Leverage Shares 3x Long MicroStrategy ETP (3MST.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.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| QBTX | 3MST.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.11 | ||
| Sortino ratioReturn per unit of downside risk | -85.47 | ||
| Omega ratioGain probability vs. loss probability | 1.16 | 10.18 | -9.02 |
| Calmar ratioReturn relative to maximum drawdown | -0.25 | -0.26 | +0.01 |
| Martin ratioReturn relative to average drawdown | -0.35 | -0.35 | 0.00 |
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Drawdowns
QBTX vs. 3MST.L - Drawdown Comparison
The maximum QBTX drawdown since its inception was -95.48%, roughly equal to the maximum 3MST.L drawdown of -99.93%. Use the drawdown chart below to compare losses from any high point for QBTX and 3MST.L.
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Drawdown Indicators
| QBTX | 3MST.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -95.48% | -99.93% | +4.45% |
Max Drawdown (1Y)Largest decline over 1 year | -95.48% | -99.48% | +4.00% |
Current DrawdownCurrent decline from peak | -88.42% | -94.75% | +6.33% |
Average DrawdownAverage peak-to-trough decline | -57.31% | -83.28% | +25.97% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 69.22% | 74.65% | -5.43% |
Volatility
QBTX vs. 3MST.L - Volatility Comparison
The current volatility for Tradr 2X Long QBTS Daily ETF (QBTX) is 66.40%, while Leverage Shares 3x Long MicroStrategy ETP (3MST.L) has a volatility of 82.95%. This indicates that QBTX experiences smaller price fluctuations and is considered to be less risky than 3MST.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| QBTX | 3MST.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 66.40% | 82.95% | -16.55% |
Volatility (6M)Calculated over the trailing 6-month period | 150.11% | 516.86% | -366.75% |
Volatility (1Y)Calculated over the trailing 1-year period | 217.47% | 13,334.78% | -13,117.31% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 241.06% | 10,135.38% | -9,894.32% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 241.06% | 10,135.38% | -9,894.32% |
QBTX vs. 3MST.L - Expense Ratio Comparison
QBTX has a 1.30% expense ratio, which is higher than 3MST.L's 0.75% expense ratio.
Dividends
QBTX vs. 3MST.L - Dividend Comparison
QBTX's dividend yield for the trailing twelve months is around 26.33%, while 3MST.L has not paid dividends to shareholders.
| Position | TTM | 2025 |
|---|---|---|
3MST.L Leverage Shares 3x Long MicroStrategy ETP | 0.00% | 0.00% |
QBTX Tradr 2X Long QBTS Daily ETF | 26.33% | 13.20% |
Frequently Asked Questions
QBTX and 3MST.L have a correlation of 0.34, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, 3MST.L is cheaper at 0.75% per year. The better choice depends on whether you care most about return, fees, risk, or income.
3MST.L is cheaper with a 0.75% expense ratio, compared with 1.30% for QBTX.
They also come from different issuers: Tradr and Leverage Shares. Their fees differ too: 1.30% for QBTX and 0.75% for 3MST.L.
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