# Leverage Shares -3x Short Silver ETP (3SSL)

**Source:** https://fundology.uk/fund/3ssl · ISIN XS3231934442 · 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 30/09/2026, 3SSL (Leverage Shares -3x Short Silver ETP, ISIN XS3231934442) closed at £1.69 on the London Stock Exchange. Its ongoing charge is 4.78% a year (about £478 on £10,000). Over the three years to 30/09/2026 its price changed by −99.8%, or −99.8% after UK CPIH inflation.

## Summary

Leverage Shares -3x Short Silver ETP is an exchange-traded product from Leverage Shares, launched in 2022. 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 4.78% a year — about £478 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: **£1.69** (30/09/2026).

## Key facts

| Fact | Value |
|---|---|
| Ticker (LSE) | 3SSL |
| ISIN | XS3231934442 |
| Category | Leveraged & inverse |
| Type | ETN / ETP |
| Provider | Leverage Shares |
| Tracks | LBMA Silver Price ($/ozt) |
| Income | Accumulating |
| Ongoing charge | 4.78% a year (£478 per £10,000) |
| Fund size | £484k |
| Launched | 2022 |
| Domicile | Ireland |

## Past returns (periods to 30/09/2026)

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 | -95.30% | -95.45% | income reinvested |
| 3 years | -99.81% | -99.83% | price only |

Returns: TradingView (delayed data) and Fundology, from recorded daily closes. Inflation: ONS CPIH, latest month published.

## Calendar-year returns

Calendar-year returns of Leverage Shares -3x Short Silver ETP in pounds (price, with income reinvested in the fund): 2023 −27.0%, 2024 −67.3%, 2025 −96.4%; 2026 to 30/09/2026 −76.3%. Returns of Leverage Shares -3x Short Silver ETP in pounds (price, with income reinvested in the fund) over the 12 months to 30/09/2026: −95.4%; to 30/09/2025: −77.8%; to 30/09/2024: −79.5%; to 30/09/2023: −62.6%.

| Year | Return | After CPIH inflation | Measured as |
|---|---|---|---|
| 2023 | -27.0% | -29.9% | Price |
| 2024 | -67.3% | -68.4% | Price |
| 2025 | -96.4% | -96.5% | Price |
| 2026 to 30/09/2026 | -76.3% | -77.0% | Price |

## Risk metrics

| Window | Volatility | Max drawdown |
|---|---|---|
| 1 year | 140.32% | -96.72% |
| 3 years | 105.68% | -99.89% |

## Largest fall

Volatility of Leverage Shares -3x Short Silver ETP in pounds, annualised from weekly returns to 30/09/2026: 140.3% over 1 year, 105.7% over 3 years. Largest fall in the price of Leverage Shares -3x Short Silver ETP since June 2022, in pounds: −100.0% from 02/09/2022 to 27/02/2026. The lowest 12-month return of Leverage Shares -3x Short Silver ETP in pounds (price, with income reinvested in the fund) since June 2022 was −99.4% (12 months to 27/02/2026); the highest was −10.7% (12 months to 19/01/2024). On 30/09/2026 the price of Leverage Shares -3x Short Silver ETP was 99.9% below its highest weekly close since June 2022 (02/09/2022), in pounds.

## Charges compared with similar funds

Ongoing charge of Leverage Shares -3x Short Silver ETP 4.78% a year, as of 01/10/2026: 4 of the 280 other leveraged and inverse products charge more, 16 the same and 260 less (share classes counted once).

## Charges & eligibility

- Ongoing charges figure (OCF): **4.78%** per year
- ISA eligible: yes
- SIPP eligible: yes

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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.