QQQY.L vs. 3AAP.L

Last updated Jun 5, 2026

QQQY.L (IncomeShares Nasdaq 100 Options (0DTE) ETP) and 3AAP.L (Leverage Shares 3x Apple ETP Securities GBP) are both exchange-traded funds - QQQY.L is a Nasdaq-100 fund actively managed by Leverage Shares, while 3AAP.L is a Leveraged Equities fund tracking the iSTOXX Leveraged 3X AAPL Index. QQQY.L is actively managed, while 3AAP.L is passively managed. Over the past year, QQQY.L returned 31.81% vs 160.00% for 3AAP.L. At a 0.27 correlation, their price movements are largely independent. QQQY.L charges 0.45%/yr vs 0.75%/yr for 3AAP.L.

Performance

QQQY.L vs. 3AAP.L - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in IncomeShares Nasdaq 100 Options (0DTE) ETP (QQQY.L) and Leverage Shares 3x Apple ETP Securities GBP (3AAP.L). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

QQQY.L is traded in USD, while 3AAP.L is traded in GBp. To make them comparable, the 3AAP.L values have been converted to USD using the latest available exchange rates.

Returns By Period

In the year-to-date period, QQQY.L achieves a 15.10% return, which is significantly lower than 3AAP.L's 29.54% return.

QQQY.L

• 1D: -0.82%
• 1M: 7.64%
• YTD: 15.10%
• 6M: 14.75%
• 1Y: 31.81%
• 3Y*: —
• 5Y*: —
• 10Y*: —

3AAP.L

• 1D: -0.93%
• 1M: 33.82%
• YTD: 29.54%
• 6M: 17.70%
• 1Y: 160.00%
• 3Y*: 19.18%
• 5Y*: 22.83%
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

QQQY.L vs. 3AAP.L - Yearly Performance Comparison

	2026 (YTD)	2025	2024
QQQY.L IncomeShares Nasdaq 100 Options (0DTE) ETP	15.10%	14.25%	7.28%
3AAP.L Leverage Shares 3x Apple ETP Securities GBP	29.54%	-22.82%	27.42%

Correlation

The correlation between QQQY.L and 3AAP.L is 0.21, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.21
Correlation (All Time) Calculated using the full available price history since Aug 29, 2024	0.27

Return for Risk

QQQY.L vs. 3AAP.L — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

QQQY.L

QQQY.L Risk / Return Rank: 71
QQQY.L Sharpe Ratio Rank: 67
QQQY.L Sortino Ratio Rank: 62
QQQY.L Omega Ratio Rank: 70
QQQY.L Calmar Ratio Rank: 82
QQQY.L Martin Ratio Rank: 73

3AAP.L

3AAP.L Risk / Return Rank: 57
3AAP.L Sharpe Ratio Rank: 48
3AAP.L Sortino Ratio Rank: 58
3AAP.L Omega Ratio Rank: 60
3AAP.L Calmar Ratio Rank: 74
3AAP.L Martin Ratio Rank: 44

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.

QQQY.L vs. 3AAP.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for IncomeShares Nasdaq 100 Options (0DTE) ETP (QQQY.L) and Leverage Shares 3x Apple ETP Securities GBP (3AAP.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.

	QQQY.L	3AAP.L	Difference
Sharpe ratio: Return per unit of total volatility	2.18	1.60	+0.58
Sortino ratio: Return per unit of downside risk	2.86	2.68	+0.18
Omega ratio: Gain probability vs. loss probability	1.41	1.35	+0.06
Calmar ratio: Return relative to maximum drawdown	4.32	3.55	+0.77
Martin ratio: Return relative to average drawdown	13.40	7.08	+6.32
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

QQQY.L vs. 3AAP.L - Sharpe Ratio Comparison

The current QQQY.L Sharpe Ratio is 2.18, which is higher than the 3AAP.L Sharpe Ratio of 1.60. The chart below compares the historical Sharpe Ratios of QQQY.L and 3AAP.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.

Sharpe Ratios by Period

	QQQY.L	3AAP.L	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.18	1.60	+0.58
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.26	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.02	0.42	+0.60

Drawdowns

QQQY.L vs. 3AAP.L - Drawdown Comparison

The maximum QQQY.L drawdown since its inception was -19.23%, smaller than the maximum 3AAP.L drawdown of -78.42%. Use the drawdown chart below to compare losses from any high point for QQQY.L and 3AAP.L.

Drawdown Indicators

	QQQY.L	3AAP.L	Difference
Max Drawdown Largest peak-to-trough decline	-19.23%	-78.42%	+59.19%
Max Drawdown (1Y) Largest decline over 1 year	-7.34%	-44.81%	+37.47%
Max Drawdown (3Y) Largest decline over 3 years	—	-73.03%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-78.42%	—
Current Drawdown Current decline from peak	-0.93%	-2.86%	+1.93%
Average Drawdown Average peak-to-trough decline	-3.18%	-35.89%	+32.71%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.37%	22.48%	-20.11%

Volatility

QQQY.L vs. 3AAP.L - Volatility Comparison

The current volatility for IncomeShares Nasdaq 100 Options (0DTE) ETP (QQQY.L) is 4.78%, while Leverage Shares 3x Apple ETP Securities GBP (3AAP.L) has a volatility of 15.12%. This indicates that QQQY.L experiences smaller price fluctuations and is considered to be less risky than 3AAP.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	QQQY.L	3AAP.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.78%	15.12%	-10.34%
Volatility (6M) Calculated over the trailing 6-month period	10.22%	49.41%	-39.19%
Volatility (1Y) Calculated over the trailing 1-year period	14.52%	99.40%	-84.88%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	20.98%	88.26%	-67.28%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.98%	90.10%	-69.12%

QQQY.L vs. 3AAP.L - Expense Ratio Comparison

QQQY.L has a 0.45% expense ratio, which is lower than 3AAP.L's 0.75% expense ratio.

Dividends

QQQY.L vs. 3AAP.L - Dividend Comparison

QQQY.L's dividend yield for the trailing twelve months is around 67.73%, while 3AAP.L has not paid dividends to shareholders.

Position	TTM	2025	2024
3AAP.L Leverage Shares 3x Apple ETP Securities GBP	0.00%	0.00%	0.00%
QQQY.L IncomeShares Nasdaq 100 Options (0DTE) ETP	67.73%	120.60%	18.65%

Frequently Asked Questions

Can I hold both QQQY.L and 3AAP.L in my portfolio?

QQQY.L and 3AAP.L have a correlation of 0.21, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, QQQY.L or 3AAP.L?

On fees, QQQY.L is cheaper at 0.45% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, QQQY.L or 3AAP.L?

QQQY.L is cheaper with a 0.45% expense ratio, compared with 0.75% for 3AAP.L.

What is the main difference between QQQY.L and 3AAP.L?

QQQY.L is categorized as Nasdaq-100, while 3AAP.L is Leveraged Equities. Their fees differ too: 0.45% for QQQY.L and 0.75% for 3AAP.L.