# GraniteShares 3X Short Microsoft Daily ETP (3SMP)

**Source:** https://fundology.uk/fund/3smp · ISIN XS2722160707 · 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, 3SMP (GraniteShares 3X Short Microsoft Daily ETP, ISIN XS2722160707) closed at £3.01 on the London Stock Exchange. Its ongoing charge is 2.54% a year (about £254 on £10,000). Over the three years to 05/10/2026 its total return was −92.1%, or −92.8% after UK CPIH inflation.

## Summary

GraniteShares 3X Short Microsoft Daily ETP is an exchange-traded product from GraniteShares, 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 2.54% a year — about £254 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: **£3.01** (05/10/2026).

## Key facts

| Fact | Value |
|---|---|
| Ticker (LSE) | 3SMP |
| ISIN | XS2722160707 |
| Category | Leveraged & inverse |
| Type | ETN / ETP |
| Provider | GraniteShares |
| Tracks | Solactive Daily Leveraged 3x Short Microsoft Corp Index |
| Income | Accumulating |
| Ongoing charge | 2.54% a year (£254 per £10,000) |
| Fund size | £358k |
| Launched | 2020 |

## 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 | -47.43% | -49.08% | income reinvested |
| 3 years | -92.06% | -92.84% | income reinvested |

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

## Charges compared with similar funds

Ongoing charge of GraniteShares 3X Short Microsoft Daily ETP 2.54% a year, as of 03/10/2026: 73 of the 259 other leveraged and inverse products charge more, 0 the same and 186 less (share classes counted once).

## Charges & eligibility

- Ongoing charges figure (OCF): **2.54%** per year
- ISA eligible: yes
- SIPP eligible: yes

## Questions people ask

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

The ongoing charge of 3SMP is 2.54% a year — about £254 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 GraniteShares 3X Short Microsoft Daily ETP 2.54% a year, as of 03/10/2026: 73 of the 259 other leveraged and inverse products charge more, 0 the same and 186 less (share classes counted once).

**What does 3SMP track?**

3SMP tracks the Solactive Daily Leveraged 3x Short Microsoft Corp Index.

**Is 3SMP accumulating or distributing?**

3SMP 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 3SMP?**

The ISIN of 3SMP is XS2722160707. An ISIN identifies one exact share class of a fund; 3SMP is its ticker on the London Stock Exchange.

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

Over the three years to 05/10/2026 3SMP’s total return was −92.1%, or −92.8% 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.