SMH3.L vs. GOOI.L
SMH3.L (Leverage Shares 3x Long Semiconductors ETP Securities) and GOOI.L (IncomeShares Alphabet (GOOG) Options ETP) are both exchange-traded funds - SMH3.L is a Leveraged Equities fund actively managed by Leverage Shares, while GOOI.L is a Derivative Income fund actively managed by Leverage Shares. Both are actively managed. Over the past year, SMH3.L returned 616.51% vs 63.86% for GOOI.L. At a 0.42 correlation, their price movements are largely independent. SMH3.L charges 0.75%/yr vs 0.55%/yr for GOOI.L.
Performance
SMH3.L vs. GOOI.L - Performance Comparison
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Returns By Period
In the year-to-date period, SMH3.L achieves a 270.49% return, which is significantly higher than GOOI.L's 5.15% return.
SMH3.L
- 1D
- 3.97%
- 1M
- 3.40%
- YTD
- 270.49%
- 6M
- 270.49%
- 1Y
- 616.51%
- 3Y*
- 150.19%
- 5Y*
- —
- 10Y*
- —
GOOI.L
- 1D
- 0.00%
- 1M
- -8.04%
- YTD
- 5.15%
- 6M
- 4.57%
- 1Y
- 63.86%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
SMH3.L vs. GOOI.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
SMH3.L Leverage Shares 3x Long Semiconductors ETP Securities | 270.49% | 74.84% | -15.65% |
GOOI.L IncomeShares Alphabet (GOOG) Options ETP | 5.15% | 45.15% | 16.36% |
Correlation
The correlation between SMH3.L and GOOI.L is 0.29, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.29 |
Correlation (All Time) Calculated using the full available price history since Oct 11, 2024 | 0.42 |
The correlation between SMH3.L and GOOI.L shifts across timeframes, from 0.29 (1 year) to 0.42 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
SMH3.L vs. GOOI.L — Risk / Return Rank
SMH3.L
GOOI.L
SMH3.L vs. GOOI.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 Alphabet (GOOG) Options ETP (GOOI.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.
| SMH3.L | GOOI.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +3.72 | ||
| Sortino ratioReturn per unit of downside risk | +0.73 | ||
| Omega ratioGain probability vs. loss probability | 1.50 | 1.40 | +0.09 |
| Calmar ratioReturn relative to maximum drawdown | 15.55 | 3.84 | +11.71 |
| Martin ratioReturn relative to average drawdown | 48.24 | 11.97 | +36.26 |
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Drawdowns
SMH3.L vs. GOOI.L - Drawdown Comparison
The maximum SMH3.L drawdown since its inception was -89.38%, which is greater than GOOI.L's maximum drawdown of -26.69%. Use the drawdown chart below to compare losses from any high point for SMH3.L and GOOI.L.
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Drawdown Indicators
| SMH3.L | GOOI.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -89.38% | -26.69% | -62.69% |
Max Drawdown (1Y)Largest decline over 1 year | -39.28% | -16.53% | -22.75% |
Max Drawdown (3Y)Largest decline over 3 years | -84.62% | — | — |
Current DrawdownCurrent decline from peak | -16.70% | -10.88% | -5.82% |
Average DrawdownAverage peak-to-trough decline | -47.89% | -6.34% | -41.55% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 12.69% | 5.32% | +7.37% |
Volatility
SMH3.L vs. GOOI.L - Volatility Comparison
Leverage Shares 3x Long Semiconductors ETP Securities (SMH3.L) has a higher volatility of 40.79% compared to IncomeShares Alphabet (GOOG) Options ETP (GOOI.L) at 10.91%. This indicates that SMH3.L's price experiences larger fluctuations and is considered to be riskier than GOOI.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SMH3.L | GOOI.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 40.79% | 10.91% | +29.88% |
Volatility (6M)Calculated over the trailing 6-month period | 78.81% | 18.18% | +60.63% |
Volatility (1Y)Calculated over the trailing 1-year period | 98.52% | 25.67% | +72.85% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 102.02% | 26.73% | +75.29% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 102.02% | 26.73% | +75.29% |
SMH3.L vs. GOOI.L - Expense Ratio Comparison
SMH3.L has a 0.75% expense ratio, which is higher than GOOI.L's 0.55% expense ratio.
Dividends
SMH3.L vs. GOOI.L - Dividend Comparison
SMH3.L has not paid dividends to shareholders, while GOOI.L's dividend yield for the trailing twelve months is around 23.19%.
| Position | TTM | 2025 | 2024 |
|---|---|---|---|
GOOI.L IncomeShares Alphabet (GOOG) Options ETP | 23.19% | 11.19% | 2.00% |
SMH3.L Leverage Shares 3x Long Semiconductors ETP Securities | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
SMH3.L and GOOI.L have a correlation of 0.29, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, GOOI.L is cheaper at 0.55% per year. The better choice depends on whether you care most about return, fees, risk, or income.
GOOI.L is cheaper with a 0.55% expense ratio, compared with 0.75% for SMH3.L.
SMH3.L is categorized as Leveraged Equities, while GOOI.L is Derivative Income. Their fees differ too: 0.75% for SMH3.L and 0.55% for GOOI.L.
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