UNHG vs. 3MST.L

Last updated Jun 24, 2026

UNHG (Leverage Shares 2x Long UNH Daily ETF) and 3MST.L (Leverage Shares 3x Long MicroStrategy ETP) are both Leveraged Equities funds from Leverage Shares. UNHG is actively managed, while 3MST.L is passively managed. At a 0.14 correlation, their price movements are largely independent. Both charge a 0.75% expense ratio.

Performance

UNHG vs. 3MST.L - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Leverage Shares 2x Long UNH Daily ETF (UNHG) and Leverage Shares 3x Long MicroStrategy ETP (3MST.L). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, UNHG achieves a 33.13% return, which is significantly lower than 3MST.L's 1,808.30% return.

UNHG

• 1D: 1.37%
• 1M: 10.50%
• YTD: 33.13%
• 6M: 37.51%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

3MST.L

• 1D: 0.00%
• 1M: -70.58%
• YTD: 1,808.30%
• 6M: 1,688.58%
• 1Y: -26.31%
• 3Y*: —
• 5Y*: —
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

UNHG vs. 3MST.L - Yearly Performance Comparison

	2026 (YTD)	2025
UNHG Leverage Shares 2x Long UNH Daily ETF	33.13%	23.87%
3MST.L Leverage Shares 3x Long MicroStrategy ETP	1,808.30%	-97.41%

Correlation

The correlation between UNHG and 3MST.L is 0.14, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (All Time) Calculated using the full available price history since Jul 22, 2025	0.14

Return for Risk

UNHG vs. 3MST.L — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

UNHG

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

3MST.L

3MST.L Risk / Return Rank: 44
3MST.L Sharpe Ratio Rank: 9
3MST.L Sortino Ratio Rank: 100
3MST.L Omega Ratio Rank: 100
3MST.L Calmar Ratio Rank: 7
3MST.L Martin Ratio Rank: 7

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

UNHG vs. 3MST.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Leverage Shares 2x Long UNH Daily ETF (UNHG) and Leverage Shares 3x Long MicroStrategy ETP (3MST.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.

	UNHG	3MST.L	Difference
Sharpe ratio: Return per unit of total volatility	—	-0.00	—
Sortino ratio: Return per unit of downside risk	—	86.98	—
Omega ratio: Gain probability vs. loss probability	—	10.18	—
Calmar ratio: Return relative to maximum drawdown	—	-0.26	—
Martin ratio: Return relative to average drawdown	—	-0.35	—

Drawdowns

UNHG vs. 3MST.L - Drawdown Comparison

The maximum UNHG drawdown since its inception was -57.00%, smaller than the maximum 3MST.L drawdown of -99.93%. Use the drawdown chart below to compare losses from any high point for UNHG and 3MST.L.

Drawdown Indicators

	UNHG	3MST.L	Difference
Max Drawdown Largest peak-to-trough decline	-57.00%	-99.93%	+42.93%
Max Drawdown (1Y) Largest decline over 1 year	—	-99.48%	—
Current Drawdown Current decline from peak	-1.32%	-94.75%	+93.43%
Average Drawdown Average peak-to-trough decline	-21.46%	-83.28%	+61.82%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	74.65%	—

Volatility

Volatility by Period

	UNHG	3MST.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	82.95%	—
Volatility (6M) Calculated over the trailing 6-month period	—	516.86%	—
Volatility (1Y) Calculated over the trailing 1-year period	80.85%	13,334.78%	-13,253.93%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	80.85%	10,135.38%	-10,054.53%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	80.85%	10,135.38%	-10,054.53%

UNHG vs. 3MST.L - Expense Ratio Comparison

Both UNHG and 3MST.L have an expense ratio of 0.75%.

Dividends

UNHG vs. 3MST.L - Dividend Comparison

UNHG's dividend yield for the trailing twelve months is around 8.49%, while 3MST.L has not paid dividends to shareholders.

Position	TTM	2025
3MST.L Leverage Shares 3x Long MicroStrategy ETP	0.00%	0.00%
UNHG Leverage Shares 2x Long UNH Daily ETF	8.49%	11.30%

Frequently Asked Questions

Can I hold both UNHG and 3MST.L in my portfolio?

UNHG and 3MST.L have a correlation of 0.14, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, UNHG or 3MST.L?

Both ETFs have the same 0.75% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, UNHG or 3MST.L?

UNHG and 3MST.L have the same expense ratio: 0.75% per year.