SMST.L vs. 3SLV.DE
SMST.L (Leverage Shares -3x Short MicroStrategy ETP) and 3SLV.DE (Leverage Shares 3x Long Silver ETP Securities) are both exchange-traded funds - SMST.L is a Inverse Equities fund managed by Leverage Shares, while 3SLV.DE is a Silver fund tracking the iShares Silver Trust (3x). Over the past year, SMST.L returned 54.90% vs 165.68% for 3SLV.DE. At a correlation of -0.11, they often move in opposite directions. Both charge a 0.75% expense ratio.
Performance
SMST.L vs. 3SLV.DE - Performance Comparison
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Different Trading Currencies
SMST.L is traded in GBP, while 3SLV.DE is traded in EUR. To make them comparable, the 3SLV.DE values have been converted to GBP using the latest available exchange rates.
Returns By Period
The year-to-date returns for both investments are quite close, with SMST.L having a -69.29% return and 3SLV.DE slightly higher at -66.05%.
SMST.L
- 1D
- 6.95%
- 1M
- 96.31%
- YTD
- -69.29%
- 6M
- -56.28%
- 1Y
- 54.90%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
3SLV.DE
- 1D
- 3.10%
- 1M
- 2.48%
- YTD
- -66.05%
- 6M
- -32.54%
- 1Y
- 165.68%
- 3Y*
- 47.71%
- 5Y*
- —
- 10Y*
- —
SMST.L vs. 3SLV.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
SMST.L Leverage Shares -3x Short MicroStrategy ETP | -69.29% | 9,160.39% | -98.46% |
3SLV.DE Leverage Shares 3x Long Silver ETP Securities | -66.05% | 874.86% | -27.53% |
Correlation
The correlation between SMST.L and 3SLV.DE is -0.08, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.08 |
Correlation (All Time) Calculated using the full available price history since Sep 27, 2024 | -0.11 |
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Return for Risk
SMST.L vs. 3SLV.DE — Risk / Return Rank
SMST.L
3SLV.DE
SMST.L vs. 3SLV.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Leverage Shares -3x Short MicroStrategy ETP (SMST.L) and Leverage Shares 3x Long Silver ETP Securities (3SLV.DE). 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.
| SMST.L | 3SLV.DE | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 0.27 | 0.98 | -0.71 |
Sortino ratioReturn per unit of downside risk | 1.89 | 2.17 | -0.28 |
Omega ratioGain probability vs. loss probability | 1.24 | 1.34 | -0.10 |
Calmar ratioReturn relative to maximum drawdown | 0.59 | 1.85 | -1.26 |
Martin ratioReturn relative to average drawdown | 1.15 | 3.37 | -2.22 |
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
| SMST.L | 3SLV.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.27 | 0.98 | -0.71 |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.00 | 0.39 | -0.39 |
Drawdowns
SMST.L vs. 3SLV.DE - Drawdown Comparison
The maximum SMST.L drawdown since its inception was -99.26%, which is greater than 3SLV.DE's maximum drawdown of -89.94%. Use the drawdown chart below to compare losses from any high point for SMST.L and 3SLV.DE.
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Drawdown Indicators
| SMST.L | 3SLV.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -99.26% | -89.94% | -9.32% |
Max Drawdown (1Y)Largest decline over 1 year | -93.24% | -89.94% | -3.30% |
Max Drawdown (3Y)Largest decline over 3 years | — | -89.94% | — |
Current DrawdownCurrent decline from peak | -92.32% | -88.11% | -4.21% |
Average DrawdownAverage peak-to-trough decline | -80.46% | -29.62% | -50.84% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 47.77% | 49.55% | -1.78% |
Volatility
SMST.L vs. 3SLV.DE - Volatility Comparison
Leverage Shares -3x Short MicroStrategy ETP (SMST.L) has a higher volatility of 59.35% compared to Leverage Shares 3x Long Silver ETP Securities (3SLV.DE) at 52.10%. This indicates that SMST.L's price experiences larger fluctuations and is considered to be riskier than 3SLV.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SMST.L | 3SLV.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 59.35% | 52.10% | +7.25% |
Volatility (6M)Calculated over the trailing 6-month period | 180.31% | 176.66% | +3.65% |
Volatility (1Y)Calculated over the trailing 1-year period | 203.88% | 169.76% | +34.12% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 19,155.72% | 111.37% | +19,044.35% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 19,155.72% | 111.37% | +19,044.35% |
SMST.L vs. 3SLV.DE - Expense Ratio Comparison
Both SMST.L and 3SLV.DE have an expense ratio of 0.75%.
Dividends
SMST.L vs. 3SLV.DE - Dividend Comparison
Neither SMST.L nor 3SLV.DE has paid dividends to shareholders.
Frequently Asked Questions
SMST.L and 3SLV.DE have a correlation of -0.08, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
Both ETFs have the same 0.75% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.
SMST.L and 3SLV.DE have the same expense ratio: 0.75% per year.
SMST.L is categorized as Inverse Equities, while 3SLV.DE is Silver.
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