RKLX vs. 3AAP.L

Last updated Jul 14, 2026

RKLX (Defiance Daily Target 2X Long RKLB ETF) and 3AAP.L (Leverage Shares 3x Apple ETP Securities GBP) are both Leveraged Equities funds. RKLX is actively managed, while 3AAP.L is passively managed. At a correlation of -1.00, they often move in opposite directions. RKLX charges 1.29%/yr vs 0.75%/yr for 3AAP.L.

Performance

RKLX vs. 3AAP.L - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Defiance Daily Target 2X Long RKLB ETF (RKLX) and Leverage Shares 3x Apple ETP Securities GBP (3AAP.L). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

RKLX 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

RKLX

• 1D: -10.64%
• 1M: -49.21%
• 6M: -60.28%
• YTD: -38.35%
• 1Y: 25.23%
• 3Y*: —
• 5Y*: —
• 10Y*: —

3AAP.L

• 1D: 0.00%
• 1M: —
• 6M: —
• YTD: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

RKLX vs. 3AAP.L - Yearly Performance Comparison

	2026 (YTD)
RKLX Defiance Daily Target 2X Long RKLB ETF	-14.20%
3AAP.L Leverage Shares 3x Apple ETP Securities GBP	-0.62%

Correlation

The correlation between RKLX and 3AAP.L is -1.00, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.

	Correlation
Correlation (All Time) Calculated using the full available price history since Jul 10, 2026	-1.00

Return for Risk

RKLX vs. 3AAP.L — Risk / Return Rank

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

RKLX

RKLX Risk / Return Rank: 22
RKLX Sharpe Ratio Rank: 12
RKLX Sortino Ratio Rank: 38
RKLX Omega Ratio Rank: 34
RKLX Calmar Ratio Rank: 13
RKLX Martin Ratio Rank: 13

3AAP.L

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

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.

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

This table presents a comparison of risk-adjusted performance metrics for Defiance Daily Target 2X Long RKLB ETF (RKLX) 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.

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.

	RKLX	3AAP.L	Difference
Sharpe ratio: Return per unit of total volatility	0.13	—	—
Sortino ratio: Return per unit of downside risk	1.62	—	—
Omega ratio: Gain probability vs. loss probability	1.19	—	—
Calmar ratio: Return relative to maximum drawdown	0.32	—	—
Martin ratio: Return relative to average drawdown	0.61	—	—

Drawdowns

RKLX vs. 3AAP.L - Drawdown Comparison

The maximum RKLX drawdown since its inception was -78.43%, which is greater than 3AAP.L's maximum drawdown of -0.62%. Use the drawdown chart below to compare losses from any high point for RKLX and 3AAP.L.

Drawdown Indicators

	RKLX	3AAP.L	Difference
Max Drawdown Largest peak-to-trough decline	-78.43%	-0.62%	-77.81%
Max Drawdown (1Y) Largest decline over 1 year	-78.43%	—	—
Current Drawdown Current decline from peak	-78.43%	-0.62%	-77.81%
Average Drawdown Average peak-to-trough decline	-28.61%	-0.62%	-27.99%
Ulcer Index Depth and duration of drawdowns from previous peaks	41.61%	—	—

Volatility

Volatility by Period

	RKLX	3AAP.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	62.36%	—	—
Volatility (6M) Calculated over the trailing 6-month period	142.87%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	189.52%	6.98%	+182.54%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	184.30%	6.98%	+177.32%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	184.30%	6.98%	+177.32%

RKLX vs. 3AAP.L - Expense Ratio Comparison

RKLX has a 1.29% expense ratio, which is higher than 3AAP.L's 0.75% expense ratio.

Dividends

RKLX vs. 3AAP.L - Dividend Comparison

RKLX's dividend yield for the trailing twelve months is around 24.24%, while 3AAP.L has not paid dividends to shareholders.

Position	TTM	2025
3AAP.L Leverage Shares 3x Apple ETP Securities GBP	0.00%	0.00%
RKLX Defiance Daily Target 2X Long RKLB ETF	24.24%	14.94%

Frequently Asked Questions

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

RKLX and 3AAP.L have a correlation of -1.00, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

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

On fees, 3AAP.L is cheaper at 0.75% per year. The better choice depends on whether you care most about return, fees, risk, or income.

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

3AAP.L is cheaper with a 0.75% expense ratio, compared with 1.29% for RKLX.

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

They also come from different issuers: Defiance and Leverage Shares. Their fees differ too: 1.29% for RKLX and 0.75% for 3AAP.L.