# Leverage Shares 3x Long Semiconductors ETP (3SMH)

**Source:** https://fundology.uk/fund/3smh · ISIN XS2399367502 · 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 05/10/2026, 3SMH (Leverage Shares 3x Long Semiconductors ETP, ISIN XS2399367502) closed at £14.98 on the London Stock Exchange. Over the three years to 05/10/2026 its total return was +993.2%, or +886.4% after UK CPIH inflation.

## Summary

Leverage Shares 3x Long Semiconductors 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. 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: **£14.98** (05/10/2026).

## Key facts

| Fact | Value |
|---|---|
| Ticker (LSE) | 3SMH |
| ISIN | XS2399367502 |
| Category | Leveraged & inverse |
| Type | ETN / ETP |
| Provider | Leverage Shares |
| Tracks | MarketVector US Listed Semiconductor 10% Capped Screened Index |
| Income | Accumulating |
| Fund size | £5.3m |
| Launched | 2021 |
| Domicile | Ireland |

## Past returns (periods to 05/10/2026)

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 | +178.56% | +169.82% | income reinvested |
| 3 years | +993.16% | +886.44% | income reinvested |

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

## Calendar-year returns

Calendar-year returns of Leverage Shares 3x Long Semiconductors ETP in pounds (price, with income reinvested in the fund): 2022 −82.9%, 2023 +244.5%, 2024 +68.1%, 2025 +59.9%; 2026 to 05/10/2026 +146.7%. Returns of Leverage Shares 3x Long Semiconductors ETP in pounds (price, with income reinvested in the fund) over the 12 months to 30/09/2026: +203.8%; to 30/09/2025: +20.7%; to 30/09/2024: +174.2%; to 30/09/2023: +116.3%.

| Year | Return | After CPIH inflation | Measured as |
|---|---|---|---|
| 2022 | -82.9% | -84.4% | Price |
| 2023 | +244.5% | +230.8% | Price |
| 2024 | +68.1% | +62.4% | Price |
| 2025 | +59.9% | +54.5% | Price |
| 2026 to 05/10/2026 | +146.7% | +139.8% | Price |

## Risk metrics

| Window | Volatility | Max drawdown |
|---|---|---|
| 1 year | 100.08% | -61.05% |
| 3 years | 98.27% | -83.18% |

## Largest fall

Volatility of Leverage Shares 3x Long Semiconductors ETP in pounds, annualised from weekly returns to 05/10/2026: 100.1% over 1 year, 98.3% over 3 years. Largest fall in the price of Leverage Shares 3x Long Semiconductors ETP since December 2021, in pounds: −86.8% from 31/12/2021 to 14/10/2022. The lowest 12-month return of Leverage Shares 3x Long Semiconductors ETP in pounds (price, with income reinvested in the fund) since December 2021 was −83.0% (12 months to 23/12/2022); the highest was +906.4% (12 months to 29/05/2026). On 05/10/2026 the price of Leverage Shares 3x Long Semiconductors ETP was 44.5% below its highest weekly close since December 2021 (19/06/2026), in pounds.

## Charges & eligibility

- ISA eligible: yes
- SIPP eligible: yes

## Questions people ask

**What does 3SMH track?**

3SMH tracks the MarketVector US Listed Semiconductor 10% Capped Screened Index.

**Is 3SMH accumulating or distributing?**

3SMH 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 3SMH?**

The ISIN of 3SMH is XS2399367502. An ISIN identifies one exact share class of a fund; 3SMH is its ticker on the London Stock Exchange.

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

Calendar-year returns of 3SMH in pounds (price, with income reinvested in the fund): 2022 −82.9%, 2023 +244.5%, 2024 +68.1%, 2025 +59.9%; 2026 to 05/10/2026 +146.7%. Past performance is not a guide to future returns.

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

Over the three years to 05/10/2026 3SMH’s total return was +993.2%, or +886.4% 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.