SUK2.L vs. 3BAL.L
SUK2.L (L&G FTSE 100 Super Short Strategy (Daily 2x) UCITS ETF GBP (Acc)) and 3BAL.L (WisdomTree EURO STOXX Banks 3x Daily Leveraged) are both exchange-traded funds - SUK2.L is a Inverse Equities fund tracking the FTSE 100 Daily Super Short Strategy Index, while 3BAL.L is a Leveraged Equities fund tracking the EURO STOXX Banks Daily Leverage 3 EUR Net Return Index. Both are passively managed. Over the past 10 years, SUK2.L returned -17.07%/yr vs 18.00%/yr for 3BAL.L. At a correlation of -0.58, they often move in opposite directions. SUK2.L charges 0.60%/yr vs 0.89%/yr for 3BAL.L.
Performance
SUK2.L vs. 3BAL.L - Performance Comparison
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Returns By Period
In the year-to-date period, SUK2.L achieves a -12.71% return, which is significantly lower than 3BAL.L's 25.99% return. Over the past 10 years, SUK2.L has underperformed 3BAL.L with an annualized return of -17.07%, while 3BAL.L has yielded a comparatively higher 18.00% annualized return.
SUK2.L
- 1D
- -0.43%
- 1M
- -1.24%
- 6M
- -7.72%
- YTD
- -12.71%
- 1Y
- -27.94%
- 3Y*
- -19.62%
- 5Y*
- -17.69%
- 10Y*
- -17.07%
3BAL.L
- 1D
- -4.44%
- 1M
- -2.06%
- 6M
- 16.39%
- YTD
- 25.99%
- 1Y
- 159.56%
- 3Y*
- 137.08%
- 5Y*
- 79.57%
- 10Y*
- 18.00%
SUK2.L vs. 3BAL.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
SUK2.L L&G FTSE 100 Super Short Strategy (Daily 2x) UCITS ETF GBP (Acc) | -12.71% | -32.13% | -6.81% | -6.41% | -13.97% | -32.73% | -1.17% | -29.96% | 15.40% | -23.23% |
3BAL.L WisdomTree EURO STOXX Banks 3x Daily Leveraged | 25.99% | 433.07% | 68.07% | 63.85% | -24.90% | 108.27% | -79.89% | 25.77% | -70.96% | 15.80% |
Correlation
The correlation between SUK2.L and 3BAL.L is -0.55, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.55 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.56 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.58 |
Correlation (10Y) Calculated over the trailing 10-year period | -0.56 |
Correlation (All Time) Calculated using the full available price history since Dec 8, 2014 | -0.58 |
The correlation between SUK2.L and 3BAL.L has been stable across timeframes, ranging from -0.58 to -0.55 - a consistent structural relationship.
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Return for Risk
SUK2.L vs. 3BAL.L — Risk / Return Rank
SUK2.L
3BAL.L
SUK2.L vs. 3BAL.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for L&G FTSE 100 Super Short Strategy (Daily 2x) UCITS ETF GBP (Acc) (SUK2.L) and WisdomTree EURO STOXX Banks 3x Daily Leveraged (3BAL.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.
| SUK2.L | 3BAL.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -3.54 | ||
| Sortino ratioReturn per unit of downside risk | -4.50 | ||
| Omega ratioGain probability vs. loss probability | 0.80 | 1.33 | -0.53 |
| Calmar ratioReturn relative to maximum drawdown | -0.91 | 3.49 | -4.40 |
| Martin ratioReturn relative to average drawdown | -1.45 | 9.38 | -10.84 |
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Drawdowns
SUK2.L vs. 3BAL.L - Drawdown Comparison
The maximum SUK2.L drawdown since its inception was -98.38%, roughly equal to the maximum 3BAL.L drawdown of -99.29%. Use the drawdown chart below to compare losses from any high point for SUK2.L and 3BAL.L.
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Drawdown Indicators
| SUK2.L | 3BAL.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -98.38% | -99.29% | +0.91% |
Max Drawdown (1Y)Largest decline over 1 year | -30.53% | -45.44% | +14.91% |
Max Drawdown (3Y)Largest decline over 3 years | -52.62% | -50.31% | -2.31% |
Max Drawdown (5Y)Largest decline over 5 years | -65.37% | -77.94% | +12.57% |
Max Drawdown (10Y)Largest decline over 10 years | -86.18% | -97.78% | +11.60% |
Current DrawdownCurrent decline from peak | -98.31% | -47.30% | -51.01% |
Average DrawdownAverage peak-to-trough decline | -84.98% | -81.80% | -3.18% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 18.90% | 16.93% | +1.97% |
Volatility
SUK2.L vs. 3BAL.L - Volatility Comparison
The current volatility for L&G FTSE 100 Super Short Strategy (Daily 2x) UCITS ETF GBP (Acc) (SUK2.L) is 5.69%, while WisdomTree EURO STOXX Banks 3x Daily Leveraged (3BAL.L) has a volatility of 16.99%. This indicates that SUK2.L experiences smaller price fluctuations and is considered to be less risky than 3BAL.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SUK2.L | 3BAL.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.69% | 16.99% | -11.30% |
Volatility (6M)Calculated over the trailing 6-month period | 19.48% | 57.11% | -37.63% |
Volatility (1Y)Calculated over the trailing 1-year period | 22.53% | 68.89% | -46.36% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 25.52% | 74.78% | -49.26% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 29.98% | 82.40% | -52.42% |
SUK2.L vs. 3BAL.L - Expense Ratio Comparison
SUK2.L has a 0.60% expense ratio, which is lower than 3BAL.L's 0.89% expense ratio.
Dividends
SUK2.L vs. 3BAL.L - Dividend Comparison
Neither SUK2.L nor 3BAL.L has paid dividends to shareholders.
Frequently Asked Questions
SUK2.L and 3BAL.L have a correlation of -0.55, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, SUK2.L is cheaper at 0.60% per year. The better choice depends on whether you care most about return, fees, risk, or income.
SUK2.L is cheaper with a 0.60% expense ratio, compared with 0.89% for 3BAL.L.
SUK2.L is categorized as Inverse Equities, while 3BAL.L is Leveraged Equities. SUK2.L tracks FTSE 100 Daily Super Short Strategy Index, while 3BAL.L tracks EURO STOXX Banks Daily Leverage 3 EUR Net Return Index. They also come from different issuers: L&G and WisdomTree. Their fees differ too: 0.60% for SUK2.L and 0.89% for 3BAL.L.
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