# WisdomTree US Treasuries 30Y 3x Daily Short (UL3S)

**Page:** https://fundology.uk/fund/ul3s · ISIN IE00BF4TW784

## 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, UL3S (WisdomTree US Treasuries 30Y 3x Daily Short, ISIN IE00BF4TW784) closed at £111.40 on the London Stock Exchange. Its ongoing charge is 0.30% a year (about £30 on £10,000). Over the five years to 13/11/2026 its total return was +288.0%, or +202.8% after UK CPIH inflation.

## Summary

WisdomTree US Treasuries 30Y 3x Daily Short is an exchange-traded product from WisdomTree, launched in 2017. 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 0.3% a year — about £30 a year on every £10,000 invested, taken from the fund's value rather than billed 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: **£111.40** (13/11/2026).

## Key facts

| Fact | Value |
|---|---|
| Ticker (LSE) | UL3S |
| ISIN | IE00BF4TW784 |
| Category | Leveraged & inverse |
| Type | ETN / ETP |
| Provider | WisdomTree |
| Tracks | BNP Paribas US Treasury Ultra-Bond 30Y Rolling Future Index |
| Ongoing charge | 0.30% a year (£30 per £10,000) |
| Fund size | £1.3m |
| Launched | 2017 |
| Domicile | Ireland |
| UK reporting fund status | Yes — on HMRC’s list of reporting funds (list of 02/11/2026); reporting fund since 01/01/2017 |

## 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 | +27.31% | +22.80% | income reinvested |
| 3 years | -2.08% | -11.53% | income reinvested |
| 5 years | +287.99% | +202.85% | income reinvested |

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

## Calendar-year returns

Calendar-year returns of WisdomTree US Treasuries 30Y 3x Daily Short in pounds (price only): 2022 +188.1%, 2023 −7.7%, 2024 +43.0%, 2025 −13.0%; 2026 to 13/11/2026 +26.7%. Returns of WisdomTree US Treasuries 30Y 3x Daily Short in pounds (price only) over the 12 months to 30/09/2026: +48.0%; to 30/09/2025: +22.2%; to 30/09/2024: −37.0%; to 30/09/2023: +33.2%; to 30/09/2022: +170.4%.

| Year | Return | After CPIH inflation | Measured as |
|---|---|---|---|
| 2022 | +188.1% | +163.7% | Price |
| 2023 | -7.7% | -11.4% | Price |
| 2024 | +43.0% | +38.2% | Price |
| 2025 | -13.0% | -16.0% | Price |
| 2026 to 13/11/2026 | +26.7% | +22.7% | Price |

## Risk metrics

| Window | Volatility | Max drawdown |
|---|---|---|
| 1 year | 34.48% | -17.43% |
| 3 years | 42.19% | -40.57% |
| 5 years | 47.00% | -50.50% |

## Largest fall

Volatility of WisdomTree US Treasuries 30Y 3x Daily Short in pounds, annualised from weekly returns to 13/11/2026: 34.5% over 1 year, 42.2% over 3 years, 47.0% over 5 years. Largest fall in the price of WisdomTree US Treasuries 30Y 3x Daily Short since November 2021, in pounds: −50.5% from 20/10/2023 to 06/09/2024. The lowest 12-month return of WisdomTree US Treasuries 30Y 3x Daily Short in pounds (price only) since January 2021 was −39.0% (12 months to 18/10/2024); the highest was +275.8% (12 months to 04/11/2022). On 13/11/2026 the price of WisdomTree US Treasuries 30Y 3x Daily Short was 13.2% below its highest weekly close since November 2021 (20/10/2023), in pounds.

## Charges compared with similar funds

Ongoing charge of WisdomTree US Treasuries 30Y 3x Daily Short 0.30% a year. Compared on 14/11/2026, 202 of the 210 other leveraged and inverse products charge more, 4 the same and 4 less (share classes counted once).

## Charges & eligibility

- Ongoing charges figure (OCF): **0.30%** per year (as of 13/11/2026)
- 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 UL3S?**

The ongoing charge of UL3S is 0.30% a year — about £30 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 WisdomTree US Treasuries 30Y 3x Daily Short 0.30% a year. Compared on 14/11/2026, 202 of the 210 other leveraged and inverse products charge more, 4 the same and 4 less (share classes counted once).

**What does UL3S track?**

UL3S tracks the BNP Paribas US Treasury Ultra-Bond 30Y Rolling Future Index.

**What is the ISIN of UL3S?**

The ISIN of UL3S is IE00BF4TW784. An ISIN identifies one exact share class of a fund; UL3S is its ticker on the London Stock Exchange.

**What were UL3S’s returns in each of the last five years?**

Calendar-year returns of UL3S in pounds (price only): 2022 +188.1%, 2023 −7.7%, 2024 +43.0%, 2025 −13.0%; 2026 to 13/11/2026 +26.7%. Past performance is not a guide to future returns.

**How has UL3S done after inflation?**

Over the five years to 13/11/2026 UL3S’s total return was +288.0%, or +202.8% 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.