- ISIN
- LU0322251520
- Issuer
- Xtrackers
- Inception Date
- Jan 15, 2008
- Category
- Inverse Equities
- Leveraged
- -1x
- Index Tracked
- S&P 500 Short Index
- Domicile
- Luxembourg
- Distribution Policy
- Accumulating
- Asset Class
- Equity
Share Price Chart
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Performance
DXS3.DE Performance Chart
Xtrackers S&P 500 Inverse Daily Swap UCITS ETF (Acc) (DXS3.DE) is down 3.0% since the beginning of the year. DXS3.DE is currently trading at €5 per share. Investors who bought €1,000 worth of DXS3.DE shares 5 years ago would now be looking at an investment worth €706.
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Returns By Period
Xtrackers S&P 500 Inverse Daily Swap UCITS ETF (Acc) (DXS3.DE) has returned -2.95% so far this year and -8.70% over the past 12 months. Over the last ten years, DXS3.DE has returned -12.32% per year, falling short of the S&P 500 Index benchmark, which averaged 13.23% annually.
Xtrackers S&P 500 Inverse Daily Swap UCITS ETF (Acc)
- 1D
- 0.00%
- 1M
- 2.92%
- 6M
- -3.90%
- YTD
- -2.95%
- 1Y
- -8.70%
- 3Y*
- -11.94%
- 5Y*
- -6.72%
- 10Y*
- -12.32%
Benchmark (S&P 500 Index)
- 1D
- -0.43%
- 1M
- 0.48%
- 6M
- 11.83%
- YTD
- 12.30%
- 1Y
- 22.52%
- 3Y*
- 17.03%
- 5Y*
- 12.27%
- 10Y*
- 13.23%
DXS3.DE Monthly Returns History
Based on dividend-adjusted daily data since Jan 15, 2008, DXS3.DE's average daily return is 0.00%, while the average monthly return is -0.90%.
Historically, 39% of months were positive and 61% were negative. The best month was Oct 2008 with a return of +23.1%, while the worst month was Feb 2008 at -32.7%. The longest winning streak lasted 7 consecutive months, and the longest losing streak was 15 months.
On a daily basis, DXS3.DE closed higher 45% of trading days. The best single day was Jun 9, 2008 with a return of +60.6%, while the worst single day was Jul 23, 2008 at -36.8%.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | -0.79% | 1.59% | 9.96% | -11.37% | -4.81% | 4.21% | -0.40% | -2.95% | |||||
| 2025 | -2.04% | 4.17% | 2.46% | -5.11% | -6.33% | -7.43% | 0.18% | -2.73% | -2.43% | -0.77% | 0.00% | -1.74% | -20.25% |
| 2024 | 0.58% | -2.89% | -2.53% | 5.18% | -3.19% | -3.44% | -0.78% | -2.81% | -2.57% | 3.47% | -1.75% | 3.41% | -7.55% |
| 2023 | -6.60% | 4.37% | -4.43% | -2.71% | 3.84% | -7.78% | -3.46% | 3.72% | 8.29% | 4.21% | -10.65% | -5.62% | -17.29% |
| 2022 | 8.45% | 0.99% | -3.93% | 14.01% | -0.26% | 11.04% | -5.43% | 4.03% | 11.52% | -6.53% | -6.20% | 0.12% | 27.96% |
| 2021 | 1.13% | -2.87% | -0.90% | -7.25% | -2.23% | 0.71% | -2.55% | -2.62% | 5.83% | -5.37% | 2.54% | -5.24% | -17.91% |
Benchmark Metrics
Xtrackers S&P 500 Inverse Daily Swap UCITS ETF (Acc) has an annualized alpha of 0.04%, beta of -0.30, and R2 of 0.01 versus S&P 500 Index. Calculated based on daily prices since January 15, 2008.
- This ETF tended to rise when S&P 500 Index fell (downside capture of -49.91%), but participation in market rallies was also limited (-57.87%) - a profile typical of counter-cyclical assets.
- Beta of -0.30 may look defensive, but with R2 of 0.01 this ETF is largely uncorrelated with S&P 500 Index - low beta reflects independence, not downside protection. See the Volatility section for a true picture of this ETF's risk.
- R2 of 0.01 means this ETF moves largely independently of S&P 500 Index - capture ratios reflect limited market correlation rather than active downside protection. Consider using a more representative benchmark.
- Alpha
- 0.04%
- Beta
- -0.30
- R²
- 0.01
- Upside Capture
- -57.87%
- Downside Capture
- -49.91%
Expense Ratio
DXS3.DE has an expense ratio of 0.50%, placing it in the medium range.
Return for Risk
Risk / Return Rank
DXS3.DE ranks 5 for risk / return — in the bottom 5% of ETFs on our site. This means you're taking on significantly more risk than the returns justify. Consider whether the potential upside is worth the volatility, or explore alternatives with better risk / return profiles.
Return / Risk — by metrics
The table below present risk-adjusted performance metrics for Xtrackers S&P 500 Inverse Daily Swap UCITS ETF (Acc) (DXS3.DE) and compare them to S&P 500 Index.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| DXS3.DE | Benchmark | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.48 | ||
| Sortino ratioReturn per unit of downside risk | -3.17 | ||
| Omega ratioGain probability vs. loss probability | 0.92 | 1.35 | -0.43 |
| Calmar ratioReturn relative to maximum drawdown | -0.52 | 3.18 | -3.70 |
| Martin ratioReturn relative to average drawdown | -1.00 | 11.76 | -12.76 |
Dividends
Dividend History
Drawdowns
Drawdowns Chart
The Drawdowns chart displays portfolio losses from any high point along the way. Drawdowns are calculated considering price movements and all distributions paid, if any.
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Worst Drawdowns
The table below displays the maximum drawdowns of the Xtrackers S&P 500 Inverse Daily Swap UCITS ETF (Acc). A maximum drawdown is a measure of risk, indicating the largest reduction in portfolio value due to a series of losing trades.
The maximum drawdown for the Xtrackers S&P 500 Inverse Daily Swap UCITS ETF (Acc) was 93.76%, occurring on May 29, 2026. The portfolio has not yet recovered.
The current Xtrackers S&P 500 Inverse Daily Swap UCITS ETF (Acc) drawdown is 93.52%.
Related event | Drawdown | Fall | Recovery | Underwater |
|---|---|---|---|---|
2026 bear market2026 | -93.76%May 2026 | 17y 2mo | — | 17y 4moMar 2009 - now |
Financial crisis2007–2009 | -41.91%May 2008 | 3mo 28d | 2mo 3d | 6mo 1dJan 2008 - Jul 2008 |
Financial crisis2007–2009 | -36.82%Jul 2008 | 0s | 2mo 19d | 2mo 19dJul 2008 - Oct 2008 |
Financial crisis2007–2009 | -28.65%Dec 2008 | 23d | 2mo 16d | 3mo 9dNov 2008 - Mar 2009 |
Financial crisis2007–2009 | -18.45%Nov 2008 | 7d | 15d | 22dOct 2008 - Nov 2008 |
Drawdown Indicators
| DXS3.DE | Benchmark | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -93.76% | -51.62% | -42.14% |
Max Drawdown (1Y)Largest decline over 1 year | -16.67% | -7.57% | -9.10% |
Max Drawdown (3Y)Largest decline over 3 years | -42.14% | -23.99% | -18.15% |
Max Drawdown (5Y)Largest decline over 5 years | -51.28% | -23.99% | -27.29% |
Max Drawdown (10Y)Largest decline over 10 years | -74.13% | -33.42% | -40.71% |
Current DrawdownCurrent decline from peak | -93.52% | -0.43% | -93.09% |
Average DrawdownAverage peak-to-trough decline | -73.65% | -9.08% | -64.57% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 8.69% | 2.04% | +6.65% |
Volatility
Volatility Chart
The chart below shows the rolling one-month volatility.
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