RKLX vs. 3SPY.L
RKLX (Defiance Daily Target 2X Long RKLB ETF) and 3SPY.L (Leverage Shares 3x Long US 500 ETP Securities) are both Leveraged Equities funds. Both are actively managed. Over the past year, RKLX returned 535.41% vs 73.42% for 3SPY.L. At a 0.26 correlation, their price movements are largely independent. RKLX charges 1.29%/yr vs 0.01%/yr for 3SPY.L.
Performance
RKLX vs. 3SPY.L - Performance Comparison
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Returns By Period
In the year-to-date period, RKLX achieves a 59.46% return, which is significantly higher than 3SPY.L's 24.34% return.
RKLX
- 1D
- -14.06%
- 1M
- 69.79%
- YTD
- 59.46%
- 6M
- 247.53%
- 1Y
- 535.41%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
3SPY.L
- 1D
- -1.05%
- 1M
- 13.97%
- YTD
- 24.34%
- 6M
- 24.27%
- 1Y
- 73.42%
- 3Y*
- 42.17%
- 5Y*
- —
- 10Y*
- —
RKLX vs. 3SPY.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
RKLX Defiance Daily Target 2X Long RKLB ETF | 59.46% | 654.37% |
3SPY.L Leverage Shares 3x Long US 500 ETP Securities | 24.34% | 48.99% |
Correlation
The correlation between RKLX and 3SPY.L is 0.23, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.23 |
Correlation (All Time) Calculated using the full available price history since Mar 14, 2025 | 0.26 |
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Return for Risk
RKLX vs. 3SPY.L — Risk / Return Rank
RKLX
3SPY.L
RKLX vs. 3SPY.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 US 500 ETP Securities (3SPY.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.
| RKLX | 3SPY.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.60 | ||
| Sortino ratioReturn per unit of downside risk | +0.91 | ||
| Omega ratioGain probability vs. loss probability | 1.38 | 1.37 | +0.01 |
| Calmar ratioReturn relative to maximum drawdown | 7.53 | 1.76 | +5.78 |
| Martin ratioReturn relative to average drawdown | 14.71 | 3.62 | +11.08 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| RKLX | 3SPY.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.94 | 1.34 | +1.60 |
Sharpe Ratio (All Time)Calculated using the full available price history | 3.69 | 0.40 | +3.29 |
Drawdowns
RKLX vs. 3SPY.L - Drawdown Comparison
The maximum RKLX drawdown since its inception was -71.71%, which is greater than 3SPY.L's maximum drawdown of -56.70%. Use the drawdown chart below to compare losses from any high point for RKLX and 3SPY.L.
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Drawdown Indicators
| RKLX | 3SPY.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -71.71% | -56.70% | -15.01% |
Max Drawdown (1Y)Largest decline over 1 year | -71.71% | -41.60% | -30.11% |
Max Drawdown (3Y)Largest decline over 3 years | — | -56.70% | — |
Current DrawdownCurrent decline from peak | -44.20% | -7.10% | -37.10% |
Average DrawdownAverage peak-to-trough decline | -25.90% | -20.31% | -5.59% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 36.65% | 20.20% | +16.45% |
Volatility
RKLX vs. 3SPY.L - Volatility Comparison
Defiance Daily Target 2X Long RKLB ETF (RKLX) has a higher volatility of 80.64% compared to Leverage Shares 3x Long US 500 ETP Securities (3SPY.L) at 8.50%. This indicates that RKLX's price experiences larger fluctuations and is considered to be riskier than 3SPY.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 | 3SPY.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 80.64% | 8.50% | +72.14% |
Volatility (6M)Calculated over the trailing 6-month period | 142.22% | 23.30% | +118.92% |
Volatility (1Y)Calculated over the trailing 1-year period | 183.57% | 54.48% | +129.09% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 181.89% | 51.94% | +129.95% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 181.89% | 51.94% | +129.95% |
RKLX vs. 3SPY.L - Expense Ratio Comparison
RKLX has a 1.29% expense ratio, which is higher than 3SPY.L's 0.01% expense ratio.
Dividends
RKLX vs. 3SPY.L - Dividend Comparison
RKLX's dividend yield for the trailing twelve months is around 9.37%, while 3SPY.L has not paid dividends to shareholders.
| Position | TTM | 2025 |
|---|---|---|
3SPY.L Leverage Shares 3x Long US 500 ETP Securities | 0.00% | 0.00% |
RKLX Defiance Daily Target 2X Long RKLB ETF | 9.37% | 14.94% |
Frequently Asked Questions
RKLX and 3SPY.L have a correlation of 0.23, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, 3SPY.L is cheaper at 0.01% per year. The better choice depends on whether you care most about return, fees, risk, or income.
3SPY.L is cheaper with a 0.01% 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 0.01% for 3SPY.L.
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