SMH3.L vs. GOOO.L
SMH3.L (Leverage Shares 3x Long Semiconductors ETP Securities) and GOOO.L (IncomeShares Alphabet (GOOG) Options ETP GBP) are both exchange-traded funds - SMH3.L is a Leveraged Equities fund actively managed by Leverage Shares, while GOOO.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 63.77% for GOOO.L. At a 0.41 correlation, their price movements are largely independent. SMH3.L charges 0.75%/yr vs 0.55%/yr for GOOO.L.
Performance
SMH3.L vs. GOOO.L - Performance Comparison
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Different Trading Currencies
SMH3.L is traded in USD, while GOOO.L is traded in GBp. To make them comparable, the GOOO.L values have been converted to USD using the latest available exchange rates.
Returns By Period
In the year-to-date period, SMH3.L achieves a 270.49% return, which is significantly higher than GOOO.L's 5.17% return.
SMH3.L
- 1D
- 3.97%
- 1M
- 3.40%
- YTD
- 270.49%
- 6M
- 270.49%
- 1Y
- 616.51%
- 3Y*
- 150.19%
- 5Y*
- —
- 10Y*
- —
GOOO.L
- 1D
- 0.00%
- 1M
- -8.12%
- YTD
- 5.17%
- 6M
- 4.67%
- 1Y
- 63.77%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
SMH3.L vs. GOOO.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
SMH3.L Leverage Shares 3x Long Semiconductors ETP Securities | 270.49% | 74.84% | -19.00% |
GOOO.L IncomeShares Alphabet (GOOG) Options ETP GBP | 5.17% | 45.40% | 15.09% |
Correlation
The correlation between SMH3.L and GOOO.L is 0.30, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.30 |
Correlation (All Time) Calculated using the full available price history since Oct 14, 2024 | 0.41 |
The correlation between SMH3.L and GOOO.L shifts across timeframes, from 0.30 (1 year) to 0.41 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
SMH3.L vs. GOOO.L — Risk / Return Rank
SMH3.L
GOOO.L
SMH3.L vs. GOOO.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 GBP (GOOO.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 | GOOO.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +4.91 | ||
| Sortino ratioReturn per unit of downside risk | +1.84 | ||
| Omega ratioGain probability vs. loss probability | 1.50 | 1.39 | +0.11 |
| Calmar ratioReturn relative to maximum drawdown | 15.55 | 2.64 | +12.91 |
| Martin ratioReturn relative to average drawdown | 48.24 | 5.11 | +43.12 |
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Drawdowns
SMH3.L vs. GOOO.L - Drawdown Comparison
The maximum SMH3.L drawdown since its inception was -89.38%, which is greater than GOOO.L's maximum drawdown of -26.78%. Use the drawdown chart below to compare losses from any high point for SMH3.L and GOOO.L.
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Drawdown Indicators
| SMH3.L | GOOO.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -89.38% | -26.78% | -62.60% |
Max Drawdown (1Y)Largest decline over 1 year | -39.28% | -24.17% | -15.11% |
Max Drawdown (3Y)Largest decline over 3 years | -84.62% | — | — |
Current DrawdownCurrent decline from peak | -16.70% | -12.13% | -4.57% |
Average DrawdownAverage peak-to-trough decline | -47.89% | -10.09% | -37.80% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 12.69% | 12.47% | +0.22% |
Volatility
SMH3.L vs. GOOO.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 GBP (GOOO.L) at 10.78%. This indicates that SMH3.L's price experiences larger fluctuations and is considered to be riskier than GOOO.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 | GOOO.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 40.79% | 10.78% | +30.01% |
Volatility (6M)Calculated over the trailing 6-month period | 78.81% | 17.97% | +60.84% |
Volatility (1Y)Calculated over the trailing 1-year period | 98.52% | 49.30% | +49.22% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 102.02% | 41.90% | +60.12% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 102.02% | 41.90% | +60.12% |
SMH3.L vs. GOOO.L - Expense Ratio Comparison
SMH3.L has a 0.75% expense ratio, which is higher than GOOO.L's 0.55% expense ratio.
Dividends
SMH3.L vs. GOOO.L - Dividend Comparison
SMH3.L has not paid dividends to shareholders, while GOOO.L's dividend yield for the trailing twelve months is around 22.69%.
| Position | TTM | 2025 | 2024 |
|---|---|---|---|
GOOO.L IncomeShares Alphabet (GOOG) Options ETP GBP | 22.69% | 11.49% | 1.94% |
SMH3.L Leverage Shares 3x Long Semiconductors ETP Securities | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
SMH3.L and GOOO.L have a correlation of 0.30, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, GOOO.L is cheaper at 0.55% per year. The better choice depends on whether you care most about return, fees, risk, or income.
GOOO.L is cheaper with a 0.55% expense ratio, compared with 0.75% for SMH3.L.
SMH3.L is categorized as Leveraged Equities, while GOOO.L is Derivative Income. Their fees differ too: 0.75% for SMH3.L and 0.55% for GOOO.L.
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