SMH3.L vs. AVGI.L
SMH3.L (Leverage Shares 3x Long Semiconductors ETP Securities) and AVGI.L (IncomeShares Broadcom (AVGO) Options ETP) are both exchange-traded funds - SMH3.L is a Leveraged Equities fund actively managed by Leverage Shares, while AVGI.L is a Derivative Income fund actively managed by Leverage Shares. Both are actively managed. A 0.56 correlation means they provide meaningful diversification when combined. SMH3.L charges 0.75%/yr vs 0.55%/yr for AVGI.L.
Performance
SMH3.L vs. AVGI.L - Performance Comparison
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Returns By Period
In the year-to-date period, SMH3.L achieves a 303.42% return, which is significantly higher than AVGI.L's -17.09% return.
SMH3.L
- 1D
- -6.35%
- 1M
- 41.95%
- YTD
- 303.42%
- 6M
- 289.06%
- 1Y
- 838.67%
- 3Y*
- 160.65%
- 5Y*
- —
- 10Y*
- —
AVGI.L
- 1D
- -13.99%
- 1M
- -8.54%
- YTD
- -17.09%
- 6M
- -25.97%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
SMH3.L vs. AVGI.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
SMH3.L Leverage Shares 3x Long Semiconductors ETP Securities | 303.42% | 83.07% |
AVGI.L IncomeShares Broadcom (AVGO) Options ETP | -17.09% | 6.51% |
Correlation
The correlation between SMH3.L and AVGI.L is 0.56, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since Jul 1, 2025 | 0.56 |
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Return for Risk
SMH3.L vs. AVGI.L — Risk / Return Rank
SMH3.L
AVGI.L
SMH3.L vs. AVGI.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Leverage Shares 3x Long Semiconductors ETP Securities (SMH3.L) and IncomeShares Broadcom (AVGO) Options ETP (AVGI.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.
| SMH3.L | AVGI.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | 1.60 | — | — |
| Calmar ratioReturn relative to maximum drawdown | 22.21 | — | — |
| Martin ratioReturn relative to average drawdown | 72.90 | — | — |
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
| SMH3.L | AVGI.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 9.41 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.52 | -0.31 | +0.83 |
Drawdowns
SMH3.L vs. AVGI.L - Drawdown Comparison
The maximum SMH3.L drawdown since its inception was -89.37%, which is greater than AVGI.L's maximum drawdown of -39.10%. Use the drawdown chart below to compare losses from any high point for SMH3.L and AVGI.L.
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Drawdown Indicators
| SMH3.L | AVGI.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -89.37% | -39.10% | -50.27% |
Max Drawdown (1Y)Largest decline over 1 year | -39.25% | — | — |
Max Drawdown (3Y)Largest decline over 3 years | -84.60% | — | — |
Current DrawdownCurrent decline from peak | -6.35% | -33.55% | +27.20% |
Average DrawdownAverage peak-to-trough decline | -48.37% | -16.96% | -31.41% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 11.98% | — | — |
Volatility
SMH3.L vs. AVGI.L - Volatility Comparison
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Volatility by Period
| SMH3.L | AVGI.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 39.31% | — | — |
Volatility (6M)Calculated over the trailing 6-month period | 71.15% | — | — |
Volatility (1Y)Calculated over the trailing 1-year period | 92.66% | 40.80% | +51.86% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 101.12% | 40.80% | +60.32% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 101.12% | 40.80% | +60.32% |
SMH3.L vs. AVGI.L - Expense Ratio Comparison
SMH3.L has a 0.75% expense ratio, which is higher than AVGI.L's 0.55% expense ratio.
Dividends
SMH3.L vs. AVGI.L - Dividend Comparison
SMH3.L has not paid dividends to shareholders, while AVGI.L's dividend yield for the trailing twelve months is around 0.53%.
| Position | TTM | 2025 |
|---|---|---|
AVGI.L IncomeShares Broadcom (AVGO) Options ETP | 0.53% | 0.14% |
SMH3.L Leverage Shares 3x Long Semiconductors ETP Securities | 0.00% | 0.00% |
Frequently Asked Questions
SMH3.L and AVGI.L have a correlation of 0.56, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, AVGI.L is cheaper at 0.55% per year. The better choice depends on whether you care most about return, fees, risk, or income.
AVGI.L is cheaper with a 0.55% expense ratio, compared with 0.75% for SMH3.L.
SMH3.L is categorized as Leveraged Equities, while AVGI.L is Derivative Income. Their fees differ too: 0.75% for SMH3.L and 0.55% for AVGI.L.
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