SPYY.L vs. 3AAP.L
Compare and contrast key facts about IncomeShares S&P500 Options (0DTE) ETP (SPYY.L) and Leverage Shares 3x Apple ETP Securities GBP (3AAP.L).
SPYY.L and 3AAP.L are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. SPYY.L is an actively managed fund by Leverage Shares. It was launched on Aug 27, 2024. 3AAP.L is a passively managed fund by Leverage Shares that tracks the performance of the iSTOXX Leveraged 3X AAPL Index. It was launched on Jun 4, 2020.
Performance
SPYY.L vs. 3AAP.L - Performance Comparison
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SPYY.L vs. 3AAP.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
SPYY.L IncomeShares S&P500 Options (0DTE) ETP | -10.77% | 16.00% | -4.69% |
3AAP.L Leverage Shares 3x Apple ETP Securities GBP | -29.75% | -22.82% | 27.42% |
Different Trading Currencies
SPYY.L is traded in USD, while 3AAP.L is traded in GBp. To make them comparable, the 3AAP.L values have been converted to USD using the latest available exchange rates.
Returns By Period
In the year-to-date period, SPYY.L achieves a -10.77% return, which is significantly higher than 3AAP.L's -29.75% return.
SPYY.L
- 1D
- -0.85%
- 1M
- -7.50%
- YTD
- -10.77%
- 6M
- -6.81%
- 1Y
- 7.12%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
3AAP.L
- 1D
- 2.56%
- 1M
- -22.90%
- YTD
- -29.75%
- 6M
- -18.73%
- 1Y
- -6.95%
- 3Y*
- 8.46%
- 5Y*
- 9.09%
- 10Y*
- —
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SPYY.L vs. 3AAP.L - Expense Ratio Comparison
SPYY.L has a 0.45% expense ratio, which is lower than 3AAP.L's 0.75% expense ratio.
Return for Risk
SPYY.L vs. 3AAP.L — Risk / Return Rank
SPYY.L
3AAP.L
SPYY.L vs. 3AAP.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for IncomeShares S&P500 Options (0DTE) ETP (SPYY.L) and Leverage Shares 3x Apple ETP Securities GBP (3AAP.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.
| SPYY.L | 3AAP.L | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 0.49 | -0.06 | +0.55 |
Sortino ratioReturn per unit of downside risk | 0.70 | 0.75 | -0.05 |
Omega ratioGain probability vs. loss probability | 1.12 | 1.10 | +0.01 |
Calmar ratioReturn relative to maximum drawdown | 0.46 | -0.21 | +0.66 |
Martin ratioReturn relative to average drawdown | 1.43 | -0.39 | +1.82 |
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
| SPYY.L | 3AAP.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.49 | -0.06 | +0.55 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | 0.10 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.06 | 0.28 | -0.34 |
Correlation
The correlation between SPYY.L and 3AAP.L is 0.32, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.
Dividends
SPYY.L vs. 3AAP.L - Dividend Comparison
SPYY.L's dividend yield for the trailing twelve months is around 72.85%, while 3AAP.L has not paid dividends to shareholders.
| TTM | 2025 | 2024 | |
|---|---|---|---|
SPYY.L IncomeShares S&P500 Options (0DTE) ETP | 72.85% | 82.07% | 2.84% |
3AAP.L Leverage Shares 3x Apple ETP Securities GBP | 0.00% | 0.00% | 0.00% |
Drawdowns
SPYY.L vs. 3AAP.L - Drawdown Comparison
The maximum SPYY.L drawdown since its inception was -17.71%, smaller than the maximum 3AAP.L drawdown of -78.42%. Use the drawdown chart below to compare losses from any high point for SPYY.L and 3AAP.L.
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Drawdown Indicators
| SPYY.L | 3AAP.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -17.71% | -75.66% | +57.95% |
Max Drawdown (1Y)Largest decline over 1 year | -11.78% | -54.75% | +42.97% |
Max Drawdown (5Y)Largest decline over 5 years | — | -75.66% | — |
Current DrawdownCurrent decline from peak | -11.75% | -50.12% | +38.37% |
Average DrawdownAverage peak-to-trough decline | -4.43% | -35.02% | +30.59% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.79% | 30.65% | -26.86% |
Volatility
SPYY.L vs. 3AAP.L - Volatility Comparison
The current volatility for IncomeShares S&P500 Options (0DTE) ETP (SPYY.L) is 3.69%, while Leverage Shares 3x Apple ETP Securities GBP (3AAP.L) has a volatility of 15.79%. This indicates that SPYY.L experiences smaller price fluctuations and is considered to be less risky than 3AAP.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SPYY.L | 3AAP.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.69% | 15.79% | -12.10% |
Volatility (6M)Calculated over the trailing 6-month period | 8.40% | 61.88% | -53.48% |
Volatility (1Y)Calculated over the trailing 1-year period | 14.58% | 111.44% | -96.86% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 14.40% | 88.04% | -73.64% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 14.40% | 90.51% | -76.11% |