# Leverage Shares 3x Alibaba ETP (3BAB)

**Page:** https://fundology.uk/fund/3bab · ISIN XS2337090851

## At a glance

> Capital at risk. Past performance is not a guide to future returns. The value of investments can fall as well as rise.

As of 13/11/2026, 3BAB (Leverage Shares 3x Alibaba ETP, ISIN XS2337090851) closed at £0.662 on the London Stock Exchange. Its ongoing charge is 3.78% a year (about £378 on £10,000). Over the five years to 13/11/2026 its price changed by −99.8%, or −99.8% after UK CPIH inflation.

## Summary

Leverage Shares 3x Alibaba ETP is an exchange-traded product from Leverage Shares, launched in 2021. It aims to deliver a multiple, or the opposite, of one day’s move in what it tracks. The multiple resets daily, so over longer periods its return can differ a lot from the multiple of the index return. You buy and sell it through a share-dealing account or platform during stock-market hours, like a share. Its ongoing charge is 3.78% a year — about £378 a year on every £10,000 invested, taken from the fund's value rather than billed to you. Income from its investments is reinvested inside the fund, so it shows up as a rising price rather than cash paid to you.

> **Leveraged & inverse:** Built for short-term trading. Because the multiple resets every day, losses can build up quickly when held for longer, even if the index ends up where it started.

Latest close: **£0.662** (13/11/2026).

## Key facts

| Fact | Value |
|---|---|
| Ticker (LSE) | 3BAB |
| ISIN | XS2337090851 |
| Also listed as | 3BBE (London Stock Exchange, euros), BAB3 (London Stock Exchange, US dollars) |
| Category | Leveraged & inverse |
| Type | ETN / ETP |
| Provider | Leverage Shares |
| Tracks | iSTOXX Leveraged 3X BABA (USD)(NR) |
| Income | Accumulating |
| Ongoing charge | 3.78% a year (£378 per £10,000) |
| Fund size | £5.6m |
| Launched | 2021 |
| Domicile | Ireland |
| UK reporting fund status | Yes — on HMRC’s list of reporting funds (list of 02/11/2026); reporting fund since 01/07/2025 |

## Past returns (periods to 13/11/2026)

After the fund's ongoing charges. "Income reinvested" is total return; "price only" leaves out income paid out. Real returns are after UK CPIH inflation.

| Window | Return | After CPIH inflation | Measured as |
|---|---|---|---|
| 1 year | -89.81% | -90.17% | price only |
| 3 years | -74.79% | -77.22% | income reinvested |
| 5 years | -99.76% | -99.81% | price only |

Returns: as reported (delayed data) and worked out from recorded daily closes. Inflation: UK CPIH, latest month published.

## Calendar-year returns

Calendar-year returns of Leverage Shares 3x Alibaba ETP in pounds (price, with income reinvested in the fund): 2022 −91.9%, 2023 −64.3%, 2024 −15.3%, 2025 +135.9%; 2026 to 13/11/2026 −87.0%. Returns of Leverage Shares 3x Alibaba ETP in pounds (price, with income reinvested in the fund) over the 12 months to 30/09/2026: −89.9%; to 30/09/2025: +132.2%; to 30/09/2024: +13.8%; to 30/09/2023: −57.4%; to 30/09/2022: −94.8%.

| Year | Return | After CPIH inflation | Measured as |
|---|---|---|---|
| 2022 | -91.9% | -92.6% | Price |
| 2023 | -64.3% | -65.7% | Price |
| 2024 | -15.3% | -18.2% | Price |
| 2025 | +135.9% | +127.8% | Price |
| 2026 to 13/11/2026 | -87.0% | -87.5% | Price |

## Risk metrics

| Window | Volatility | Max drawdown |
|---|---|---|
| 1 year | 128.68% | -89.94% |
| 3 years | 137.11% | -93.98% |
| 5 years | 148.81% | -99.76% |

## Largest fall

Volatility of Leverage Shares 3x Alibaba ETP in pounds, annualised from weekly returns to 13/11/2026: 128.7% over 1 year, 137.1% over 3 years, 148.8% over 5 years. Largest fall in the price of Leverage Shares 3x Alibaba ETP since November 2021, in pounds: −99.6% from 19/11/2021 to 13/11/2026. The lowest 12-month return of Leverage Shares 3x Alibaba ETP in pounds (price, with income reinvested in the fund) since May 2021 was −98.8% (12 months to 28/10/2022); the highest was +304.2% (12 months to 21/02/2025). On 13/11/2026 the price of Leverage Shares 3x Alibaba ETP was 99.6% below its highest weekly close since November 2021 (19/11/2021), in pounds.

## Charges compared with similar funds

Ongoing charge of Leverage Shares 3x Alibaba ETP 3.78% a year. Compared on 14/11/2026, 36 of the 210 other leveraged and inverse products charge more, 22 the same and 152 less (share classes counted once).

## Charges & eligibility

- Ongoing charges figure (OCF): **3.78%** per year (as of 14/10/2026)
- Stocks and shares ISA eligible: usually (check with your platform)
- SIPP eligible: usually (check with your provider)
- ISA and SIPP mean the kind of product usually qualifies under HMRC rules. We do not check each platform’s list — each provider decides which funds it offers. Crypto ETNs have not qualified for a stocks and shares ISA since 06/04/2026, and overseas funds that are not UK-recognised UCITS, such as Swiss ETFs, do not usually qualify.

## Questions people ask

**What is the ongoing charge of 3BAB?**

The ongoing charge of 3BAB is 3.78% a year — about £378 a year on every £10,000 invested, taken from the fund’s value rather than billed to you. Platform and dealing fees are charged separately. Ongoing charge of Leverage Shares 3x Alibaba ETP 3.78% a year. Compared on 14/11/2026, 36 of the 210 other leveraged and inverse products charge more, 22 the same and 152 less (share classes counted once).

**What does 3BAB track?**

3BAB tracks the iSTOXX Leveraged 3X BABA (USD)(NR).

**Is 3BAB accumulating or distributing?**

3BAB is accumulating: income is reinvested inside the fund, so it shows up as a rising price rather than cash paid to you.

**What is the ISIN of 3BAB?**

The ISIN of 3BAB is XS2337090851. An ISIN identifies one exact share class of a fund; 3BAB is its ticker on the London Stock Exchange. The same share class is also listed as 3BBE (London Stock Exchange, euros) and BAB3 (London Stock Exchange, US dollars).

**What were 3BAB’s returns in each of the last five years?**

Calendar-year returns of 3BAB in pounds (price, with income reinvested in the fund): 2022 −91.9%, 2023 −64.3%, 2024 −15.3%, 2025 +135.9%; 2026 to 13/11/2026 −87.0%. Past performance is not a guide to future returns.

**How has 3BAB done after inflation?**

Over the five years to 13/11/2026 3BAB’s price changed by −99.8%, or −99.8% after UK CPIH inflation. Past performance is not a guide to future returns.

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Capital at risk. Past performance is not a guide to future returns. The value of investments can fall as well as rise.