XFRM.L vs. 3USL.L
XFRM.L (WisdomTree Broad Commodities Ex-Agriculture and Livestock) and 3USL.L (WisdomTree S&P 500 3x Daily Leveraged GB) are both exchange-traded funds - XFRM.L is a Commodities fund tracking the Bloomberg Commodity ex-Agriculture and Livestock, while 3USL.L is a Leveraged Equities fund tracking the S&P 500 Net Total Returns Index. Both are passively managed. Over the past 10 years, XFRM.L returned 8.89%/yr vs 28.49%/yr for 3USL.L. At a 0.26 correlation, their price movements are largely independent. XFRM.L charges 0.49%/yr vs 0.75%/yr for 3USL.L.
Performance
XFRM.L vs. 3USL.L - Performance Comparison
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Returns By Period
In the year-to-date period, XFRM.L achieves a 36.57% return, which is significantly higher than 3USL.L's 25.13% return. Over the past 10 years, XFRM.L has underperformed 3USL.L with an annualized return of 8.89%, while 3USL.L has yielded a comparatively higher 28.49% annualized return.
XFRM.L
- 1D
- -1.20%
- 1M
- -3.00%
- YTD
- 36.57%
- 6M
- 38.59%
- 1Y
- 57.89%
- 3Y*
- 22.90%
- 5Y*
- 14.85%
- 10Y*
- 8.89%
3USL.L
- 1D
- -0.02%
- 1M
- 12.76%
- YTD
- 25.13%
- 6M
- 26.49%
- 1Y
- 77.77%
- 3Y*
- 50.50%
- 5Y*
- 22.25%
- 10Y*
- 28.49%
XFRM.L vs. 3USL.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
XFRM.L WisdomTree Broad Commodities Ex-Agriculture and Livestock | 36.57% | 23.14% | 6.70% | -9.42% | 15.17% | 26.88% | -9.12% | 10.10% | -12.43% | 6.62% |
3USL.L WisdomTree S&P 500 3x Daily Leveraged GB | 25.13% | 28.97% | 64.00% | 70.49% | -57.35% | 101.77% | 7.89% | 97.98% | -27.34% | 69.34% |
Correlation
The correlation between XFRM.L and 3USL.L is -0.14, 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 | -0.14 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.08 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.18 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.25 |
Correlation (All Time) Calculated using the full available price history since Aug 29, 2014 | 0.26 |
The correlation between XFRM.L and 3USL.L shifts across timeframes, from -0.14 (1 year) to 0.26 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
XFRM.L vs. 3USL.L — Risk / Return Rank
XFRM.L
3USL.L
XFRM.L vs. 3USL.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for WisdomTree Broad Commodities Ex-Agriculture and Livestock (XFRM.L) and WisdomTree S&P 500 3x Daily Leveraged GB (3USL.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.
| XFRM.L | 3USL.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.29 | ||
| Sortino ratioReturn per unit of downside risk | +0.02 | ||
| Omega ratioGain probability vs. loss probability | 1.45 | 1.36 | +0.09 |
| Calmar ratioReturn relative to maximum drawdown | 6.22 | 3.06 | +3.16 |
| Martin ratioReturn relative to average drawdown | 14.95 | 12.28 | +2.67 |
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
| XFRM.L | 3USL.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.54 | 2.25 | +0.29 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.71 | 0.47 | +0.24 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.48 | 0.59 | -0.10 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.14 | 0.60 | -0.45 |
Drawdowns
XFRM.L vs. 3USL.L - Drawdown Comparison
The maximum XFRM.L drawdown since its inception was -56.89%, smaller than the maximum 3USL.L drawdown of -76.72%. Use the drawdown chart below to compare losses from any high point for XFRM.L and 3USL.L.
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Drawdown Indicators
| XFRM.L | 3USL.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -56.89% | -76.72% | +19.83% |
Max Drawdown (1Y)Largest decline over 1 year | -9.26% | -25.29% | +16.03% |
Max Drawdown (3Y)Largest decline over 3 years | -12.77% | -48.69% | +35.92% |
Max Drawdown (5Y)Largest decline over 5 years | -33.87% | -63.47% | +29.60% |
Max Drawdown (10Y)Largest decline over 10 years | -37.47% | -76.72% | +39.25% |
Current DrawdownCurrent decline from peak | -4.72% | -1.82% | -2.90% |
Average DrawdownAverage peak-to-trough decline | -30.77% | -15.26% | -15.51% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.86% | 6.31% | -2.45% |
Volatility
XFRM.L vs. 3USL.L - Volatility Comparison
The current volatility for WisdomTree Broad Commodities Ex-Agriculture and Livestock (XFRM.L) is 6.86%, while WisdomTree S&P 500 3x Daily Leveraged GB (3USL.L) has a volatility of 9.42%. This indicates that XFRM.L experiences smaller price fluctuations and is considered to be less risky than 3USL.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| XFRM.L | 3USL.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.86% | 9.42% | -2.56% |
Volatility (6M)Calculated over the trailing 6-month period | 20.44% | 25.26% | -4.82% |
Volatility (1Y)Calculated over the trailing 1-year period | 22.66% | 34.36% | -11.70% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 20.93% | 47.39% | -26.46% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.45% | 48.51% | -30.06% |
XFRM.L vs. 3USL.L - Expense Ratio Comparison
XFRM.L has a 0.49% expense ratio, which is lower than 3USL.L's 0.75% expense ratio.
Dividends
XFRM.L vs. 3USL.L - Dividend Comparison
Neither XFRM.L nor 3USL.L has paid dividends to shareholders.
Frequently Asked Questions
XFRM.L and 3USL.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.
On fees, XFRM.L is cheaper at 0.49% per year. The better choice depends on whether you care most about return, fees, risk, or income.
XFRM.L is cheaper with a 0.49% expense ratio, compared with 0.75% for 3USL.L.
XFRM.L is categorized as Commodities, while 3USL.L is Leveraged Equities. XFRM.L tracks Bloomberg Commodity ex-Agriculture and Livestock, while 3USL.L tracks S&P 500 Net Total Returns Index. Their fees differ too: 0.49% for XFRM.L and 0.75% for 3USL.L.
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