RKLX vs. 3MST.L
RKLX (Defiance Daily Target 2X Long RKLB ETF) and 3MST.L (Leverage Shares 3x Long MicroStrategy ETP) are both Leveraged Equities funds. RKLX is actively managed, while 3MST.L is passively managed. Over the past year, RKLX returned 185.10% vs -26.31% for 3MST.L. At a 0.23 correlation, their price movements are largely independent. RKLX charges 1.29%/yr vs 0.75%/yr for 3MST.L.
Performance
RKLX vs. 3MST.L - Performance Comparison
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Returns By Period
In the year-to-date period, RKLX achieves a 2.51% return, which is significantly lower than 3MST.L's 1,808.30% return.
RKLX
- 1D
- -10.27%
- 1M
- -56.29%
- YTD
- 2.51%
- 6M
- -17.39%
- 1Y
- 185.10%
- 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*
- —
RKLX vs. 3MST.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
RKLX Defiance Daily Target 2X Long RKLB ETF | 2.51% | 579.88% |
3MST.L Leverage Shares 3x Long MicroStrategy ETP | 1,808.30% | -94.31% |
Correlation
The correlation between RKLX and 3MST.L is 0.26, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.26 |
Correlation (All Time) Calculated using the full available price history since Mar 13, 2025 | 0.23 |
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Return for Risk
RKLX vs. 3MST.L — Risk / Return Rank
RKLX
3MST.L
RKLX vs. 3MST.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 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.
| RKLX | 3MST.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.01 | ||
| Sortino ratioReturn per unit of downside risk | -84.63 | ||
| Omega ratioGain probability vs. loss probability | 1.28 | 10.18 | -8.90 |
| Calmar ratioReturn relative to maximum drawdown | 2.60 | -0.26 | +2.86 |
| Martin ratioReturn relative to average drawdown | 4.84 | -0.35 | +5.19 |
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Drawdowns
RKLX vs. 3MST.L - Drawdown Comparison
The maximum RKLX drawdown since its inception was -71.71%, smaller than the maximum 3MST.L drawdown of -99.93%. Use the drawdown chart below to compare losses from any high point for RKLX and 3MST.L.
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Drawdown Indicators
| RKLX | 3MST.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -71.71% | -99.93% | +28.22% |
Max Drawdown (1Y)Largest decline over 1 year | -71.71% | -99.48% | +27.77% |
Current DrawdownCurrent decline from peak | -64.12% | -94.75% | +30.63% |
Average DrawdownAverage peak-to-trough decline | -26.92% | -83.28% | +56.36% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 38.42% | 74.65% | -36.23% |
Volatility
RKLX vs. 3MST.L - Volatility Comparison
The current volatility for Defiance Daily Target 2X Long RKLB ETF (RKLX) is 62.72%, while Leverage Shares 3x Long MicroStrategy ETP (3MST.L) has a volatility of 82.95%. This indicates that RKLX 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
| RKLX | 3MST.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 62.72% | 82.95% | -20.23% |
Volatility (6M)Calculated over the trailing 6-month period | 142.12% | 516.86% | -374.74% |
Volatility (1Y)Calculated over the trailing 1-year period | 185.83% | 13,334.78% | -13,148.95% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 182.53% | 10,135.38% | -9,952.85% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 182.53% | 10,135.38% | -9,952.85% |
RKLX vs. 3MST.L - Expense Ratio Comparison
RKLX has a 1.29% expense ratio, which is higher than 3MST.L's 0.75% expense ratio.
Dividends
RKLX vs. 3MST.L - Dividend Comparison
RKLX's dividend yield for the trailing twelve months is around 14.58%, while 3MST.L has not paid dividends to shareholders.
| Position | TTM | 2025 |
|---|---|---|
3MST.L Leverage Shares 3x Long MicroStrategy ETP | 0.00% | 0.00% |
RKLX Defiance Daily Target 2X Long RKLB ETF | 14.58% | 14.94% |
Frequently Asked Questions
RKLX and 3MST.L have a correlation of 0.26, 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 1.29% for RKLX.
They also come from different issuers: Defiance and Leverage Shares. Their fees differ too: 1.29% for RKLX and 0.75% for 3MST.L.
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