# GraniteShares 3x Long Square Daily ETP (LSQ3) **Page:** https://fundology.uk/fund/lsq3 · ISIN XS2596085972 ## 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, LSQ3 (GraniteShares 3x Long Square Daily ETP, ISIN XS2596085972) closed at £0.489 on the London Stock Exchange. Its ongoing charge is 4.15% a year (about £415 on £10,000). Over the three years to 13/11/2026 its total return was −88.6%, or −89.7% after UK CPIH inflation. ## Summary GraniteShares 3x Long Square Daily ETP is an exchange-traded product from GraniteShares, 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 4.15% a year — about £415 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: **£0.489** (13/11/2026). ## Key facts | Fact | Value | |---|---| | Ticker (LSE) | LSQ3 | | ISIN | XS2596085972 | | Also listed as | 3LSQ (London Stock Exchange, US dollars) | | Category | Leveraged & inverse | | Type | ETN / ETP | | Provider | GraniteShares | | Tracks | Solactive Daily Leveraged 3x long Square Index - Benchmark TR Net | | Income | Accumulating | | Ongoing charge | 4.15% a year (£415 per £10,000) | | Fund size | £1.7m | | Launched | 2022 | | Domicile | Ireland | | UK reporting fund status | Yes — on HMRC’s list of reporting funds (list of 02/11/2026); reporting fund since 20/03/2023 | ## 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 | -3.17% | -6.60% | income reinvested | | 3 years | -88.63% | -89.73% | income reinvested | Returns: as reported (delayed data). Inflation: UK CPIH, latest month published. ## Calendar-year returns Calendar-year returns of GraniteShares 3x Long Square Daily ETP in pounds (price, with income reinvested in the fund): 2026 to 13/11/2026 +8.1%. Returns of GraniteShares 3x Long Square Daily ETP in pounds (price, with income reinvested in the fund) over the 12 months to 30/09/2026: −60.3%. | Year | Return | After CPIH inflation | Measured as | |---|---|---|---| | 2026 to 13/11/2026 | +8.1% | +4.6% | Price | ## Risk metrics | Window | Volatility | Max drawdown | |---|---|---| | 1 year | 139.22% | -68.47% | ## Largest fall Volatility of GraniteShares 3x Long Square Daily ETP in pounds, annualised from weekly returns to 13/11/2026: 139.2% over 1 year. Largest fall in the price of GraniteShares 3x Long Square Daily ETP since May 2025, in pounds: −85.3% from 25/07/2025 to 13/02/2026. On 13/11/2026 the price of GraniteShares 3x Long Square Daily ETP was 58.1% below its highest weekly close since May 2025 (25/07/2025), in pounds. ## Charges compared with similar funds Ongoing charge of GraniteShares 3x Long Square Daily ETP 4.15% a year. Compared on 14/11/2026, 29 of the 210 other leveraged and inverse products charge more, 0 the same and 181 less (share classes counted once). ## Charges & eligibility - Ongoing charges figure (OCF): **4.15%** per year - 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 LSQ3?** The ongoing charge of LSQ3 is 4.15% a year — about £415 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 Long Square Daily ETP 4.15% a year. Compared on 14/11/2026, 29 of the 210 other leveraged and inverse products charge more, 0 the same and 181 less (share classes counted once). **What does LSQ3 track?** LSQ3 tracks the Solactive Daily Leveraged 3x long Square Index. **Is LSQ3 accumulating or distributing?** LSQ3 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 LSQ3?** The ISIN of LSQ3 is XS2596085972. An ISIN identifies one exact share class of a fund; LSQ3 is its ticker on the London Stock Exchange. The same share class is also listed as 3LSQ (London Stock Exchange, US dollars). **What were LSQ3’s returns in each of the last five years?** Calendar-year returns of LSQ3 in pounds (price, with income reinvested in the fund): 2026 to 13/11/2026 +8.1%. Past performance is not a guide to future returns. **How has LSQ3 done after inflation?** Over the three years to 13/11/2026 LSQ3’s total return was −88.6%, or −89.7% after UK CPIH inflation. Past performance is not a guide to future returns. --- We show information. We are not financial advisers, not authorised by the FCA, and never recommend specific investments. Capital at risk. Past performance is not a guide to future returns. The value of investments can fall as well as rise.