# Leverage Shares 3x Microsoft ETP (3MSF)

**Source:** https://fundology.uk/fund/3msf · ISIN IE00BK5BZV36 · Data: TradingView (LSE closes and returns, delayed), issuer documents, ONS CPIH, FCA FIRDS

## 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 01/10/2026, 3MSF (Leverage Shares 3x Microsoft ETP, ISIN IE00BK5BZV36) closed at £42.02 on the London Stock Exchange. Its ongoing charge is 3.78% a year (about £378 on £10,000). Over the five years to 01/10/2026 its total return was −16.5%, or −34.7% after UK CPIH inflation.

## Summary

Leverage Shares 3x Microsoft ETP is an exchange-traded product from Leverage Shares, launched in 2020. 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: **£42.02** (01/10/2026).

## Key facts

| Fact | Value |
|---|---|
| Ticker (LSE) | 3MSF |
| ISIN | IE00BK5BZV36 |
| Category | Leveraged & inverse |
| Type | ETN / ETP |
| Provider | Leverage Shares |
| Tracks | iSTOXX Leveraged 3X MSFT (USD)(NR) |
| Income | Accumulating |
| Ongoing charge | 3.78% a year (£378 per £10,000) |
| Fund size | £12.4m |
| Launched | 2020 |
| Domicile | Ireland |

## Past returns (periods to 01/10/2026)

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

| Window | Return | After CPIH inflation | Measured as |
|---|---|---|---|
| 1 year | -36.73% | -38.72% | income reinvested |
| 3 years | +31.98% | +19.10% | income reinvested |
| 5 years | -16.48% | -34.71% | income reinvested |

Returns: TradingView (delayed data). Inflation: ONS CPIH, latest month published.

## Calendar-year returns

Calendar-year returns of Leverage Shares 3x Microsoft ETP in pounds (price, with income reinvested in the fund): 2022 −74.1%, 2023 +170.2%, 2024 +17.5%, 2025 −3.1%; 2026 to 01/10/2026 −17.8%. Returns of Leverage Shares 3x Microsoft ETP in pounds (price, with income reinvested in the fund) over the 12 months to 30/09/2026: −31.2%; to 30/09/2025: +17.1%; to 30/09/2024: +77.4%; to 30/09/2023: +43.8%; to 30/09/2022: −53.8%.

| Year | Return | After CPIH inflation | Measured as |
|---|---|---|---|
| 2022 | -74.1% | -76.2% | Price |
| 2023 | +170.2% | +159.4% | Price |
| 2024 | +17.5% | +13.5% | Price |
| 2025 | -3.1% | -6.4% | Price |
| 2026 to 01/10/2026 | -17.8% | -20.1% | Price |

## Risk metrics

| Window | Volatility | Max drawdown |
|---|---|---|
| 1 year | 125.76% | -73.30% |
| 3 years | 87.30% | -75.98% |
| 5 years | 82.67% | -81.08% |

## Largest fall

Volatility of Leverage Shares 3x Microsoft ETP in pounds, annualised from weekly returns to 01/10/2026: 125.8% over 1 year, 87.3% over 3 years, 82.7% over 5 years. Largest fall in the price of Leverage Shares 3x Microsoft ETP since October 2021, in pounds: −81.1% from 19/11/2021 to 06/01/2023. The lowest 12-month return of Leverage Shares 3x Microsoft ETP in pounds (price, with income reinvested in the fund) since January 2021 was −77.8% (12 months to 04/11/2022); the highest was +236.7% (12 months to 19/01/2024). On 01/10/2026 the price of Leverage Shares 3x Microsoft ETP was 44.1% below its highest weekly close since October 2021 (05/07/2024), in pounds.

## Charges compared with similar funds

Ongoing charge of Leverage Shares 3x Microsoft ETP 3.78% a year, as of 02/10/2026: 34 of the 258 other leveraged and inverse products charge more, 21 the same and 203 less (share classes counted once).

## Charges & eligibility

- Ongoing charges figure (OCF): **3.78%** per year
- ISA eligible: yes
- SIPP eligible: yes

## Questions people ask

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

The ongoing charge of 3MSF 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 Microsoft ETP 3.78% a year, as of 02/10/2026: 34 of the 258 other leveraged and inverse products charge more, 21 the same and 203 less (share classes counted once).

**What does 3MSF track?**

3MSF tracks the iSTOXX Leveraged 3X MSFT (USD)(NR).

**Is 3MSF accumulating or distributing?**

3MSF 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 3MSF?**

The ISIN of 3MSF is IE00BK5BZV36. An ISIN identifies one exact share class of a fund; 3MSF is its ticker on the London Stock Exchange.

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

Calendar-year returns of 3MSF in pounds (price, with income reinvested in the fund): 2022 −74.1%, 2023 +170.2%, 2024 +17.5%, 2025 −3.1%; 2026 to 01/10/2026 −17.8%. Past performance is not a guide to future returns.

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

Over the five years to 01/10/2026 3MSF’s total return was −16.5%, or −34.7% 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.