# Leverage Shares 3x Long Taiwan Semiconductor ETP (3TSM)

**Page:** https://fundology.uk/fund/3tsm · ISIN XS2399365043

## 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, 3TSM (Leverage Shares 3x Long Taiwan Semiconductor ETP, ISIN XS2399365043) closed at £8.58 on the London Stock Exchange. Its ongoing charge is 3.78% a year (about £378 on £10,000). Over the three years to 13/11/2026 its total return was +974.2%, or +870.5% after UK CPIH inflation.

## Summary

Leverage Shares 3x Long Taiwan Semiconductor 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: **£8.58** (13/11/2026).

## Key facts

| Fact | Value |
|---|---|
| Ticker (LSE) | 3TSM |
| ISIN | XS2399365043 |
| Also listed as | TS3E (London Stock Exchange, euros), TSM3 (London Stock Exchange, US dollars) |
| Category | Leveraged & inverse |
| Type | ETN / ETP |
| Provider | Leverage Shares |
| Tracks | iSTOXX Leveraged 3X TSM (USD)(NR) |
| Income | Accumulating |
| Ongoing charge | 3.78% a year (£378 per £10,000) |
| Fund size | £5.8m |
| Launched | 2021 |
| Domicile | Ireland |
| UK reporting fund status | Yes — on HMRC’s list of reporting funds (list of 02/11/2026); reporting fund since 13/12/2021 |

## 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 | +46.92% | +41.72% | income reinvested |
| 3 years | +974.18% | +870.49% | income reinvested |

Returns: as reported (delayed data). Inflation: UK CPIH, latest month published.

## Calendar-year returns

Calendar-year returns of Leverage Shares 3x Long Taiwan Semiconductor ETP in pounds (price, with income reinvested in the fund): 2022 −85.2%, 2023 +90.5%, 2024 +330.0%, 2025 +62.9%; 2026 to 13/11/2026 +10.2%. Returns of Leverage Shares 3x Long Taiwan Semiconductor ETP in pounds (price, with income reinvested in the fund) over the 12 months to 30/09/2026: +112.9%; to 30/09/2025: +127.3%; to 30/09/2024: +347.4%; to 30/09/2023: +14.7%.

| Year | Return | After CPIH inflation | Measured as |
|---|---|---|---|
| 2022 | -85.2% | -86.5% | Price |
| 2023 | +90.5% | +82.9% | Price |
| 2024 | +330.0% | +315.4% | Price |
| 2025 | +62.9% | +57.3% | Price |
| 2026 to 13/11/2026 | +10.2% | +6.7% | Price |

## Risk metrics

| Window | Volatility | Max drawdown |
|---|---|---|
| 1 year | 96.07% | -60.68% |
| 3 years | 107.93% | -78.52% |

## Largest fall

Volatility of Leverage Shares 3x Long Taiwan Semiconductor ETP in pounds, annualised from weekly returns to 13/11/2026: 96.1% over 1 year, 107.9% over 3 years. Largest fall in the price of Leverage Shares 3x Long Taiwan Semiconductor ETP since December 2021, in pounds: −93.6% from 14/01/2022 to 28/10/2022. The lowest 12-month return of Leverage Shares 3x Long Taiwan Semiconductor ETP in pounds (price, with income reinvested in the fund) since December 2021 was −85.2% (12 months to 30/12/2022); the highest was +793.7% (12 months to 24/04/2026). On 13/11/2026 the price of Leverage Shares 3x Long Taiwan Semiconductor ETP was 54.1% below its highest weekly close since December 2021 (19/06/2026), in pounds.

## Charges compared with similar funds

Ongoing charge of Leverage Shares 3x Long Taiwan Semiconductor 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 15/10/2026)
- 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 3TSM?**

The ongoing charge of 3TSM 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 Long Taiwan Semiconductor 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 3TSM track?**

3TSM tracks the iSTOXX Leveraged 3X TSM (USD)(NR).

**Is 3TSM accumulating or distributing?**

3TSM 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 3TSM?**

The ISIN of 3TSM is XS2399365043. An ISIN identifies one exact share class of a fund; 3TSM is its ticker on the London Stock Exchange. The same share class is also listed as TS3E (London Stock Exchange, euros) and TSM3 (London Stock Exchange, US dollars).

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

Calendar-year returns of 3TSM in pounds (price, with income reinvested in the fund): 2022 −85.2%, 2023 +90.5%, 2024 +330.0%, 2025 +62.9%; 2026 to 13/11/2026 +10.2%. Past performance is not a guide to future returns.

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

Over the three years to 13/11/2026 3TSM’s total return was +974.2%, or +870.5% 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.