2AMD.L vs. SPYX

Last updated Jun 4, 2026

2AMD.L (Leverage Shares 2x Advanced Micro Devices ETC GBP) and SPYX (State Street SPDR S&P 500 Fossil Fuel Reserves Free ETF) are both exchange-traded funds - 2AMD.L is a Leveraged Equities fund tracking the iSTOXX Leveraged 2X AMD Index, while SPYX is a S&P 500 fund tracking the S&P 500 Fossil Fuel Reserves Free Index. Both are passively managed. Over the past 5 years, 2AMD.L returned 45.83%/yr vs 14.63%/yr for SPYX. At a 0.30 correlation, their price movements are largely independent. 2AMD.L charges 0.75%/yr vs 0.20%/yr for SPYX.

Performance

2AMD.L vs. SPYX - Performance Comparison

The chart below illustrates the hypothetical performance of a £10,000 investment in Leverage Shares 2x Advanced Micro Devices ETC GBP (2AMD.L) and State Street SPDR S&P 500 Fossil Fuel Reserves Free ETF (SPYX). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

2AMD.L is traded in GBp, while SPYX is traded in USD. To make them comparable, the SPYX values have been converted to GBp using the latest available exchange rates.

Returns By Period

In the year-to-date period, 2AMD.L achieves a 345.45% return, which is significantly higher than SPYX's 10.45% return.

2AMD.L

• 1D: -0.87%
• 1M: 98.27%
• YTD: 345.45%
• 6M: 330.90%
• 1Y: 1,086.85%
• 3Y*: 74.75%
• 5Y*: 45.83%
• 10Y*: —

SPYX

• 1D: -0.51%
• 1M: 5.88%
• YTD: 10.45%
• 6M: 9.48%
• 1Y: 27.90%
• 3Y*: 19.29%
• 5Y*: 14.63%
• 10Y*: 16.45%

*Multi-year figures are annualized to reflect compound growth (CAGR)

2AMD.L vs. SPYX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
2AMD.L Leverage Shares 2x Advanced Micro Devices ETC GBP	345.45%	82.40%	-49.88%	285.12%	-86.24%	111.82%	136.69%
SPYX State Street SPDR S&P 500 Fossil Fuel Reserves Free ETF	10.45%	9.47%	27.65%	20.06%	-10.03%	29.27%	12.68%

Correlation

The correlation between 2AMD.L and SPYX is 0.36, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.36
Correlation (3Y) Calculated over the trailing 3-year period	0.34
Correlation (5Y) Calculated over the trailing 5-year period	0.32
Correlation (All Time) Calculated using the full available price history since Jun 5, 2020	0.30

2AMD.L vs. SPYX - Sectors Allocation Comparison

Sectors	2AMD.L	SPYX
Technology	100.0%	38.5%
Basic Materials	-	1.8%
Communication Services	-	11.1%
Consumer Cyclical	-	10.1%
Consumer Defensive	-	4.9%
Energy	-	1.2%
Financial Services	-	11.7%
Healthcare	-	8.6%
Industrials	-	7.6%
Real Estate	-	1.9%
Utilities	-	2.7%

Return for Risk

2AMD.L vs. SPYX — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

2AMD.L

2AMD.L Risk / Return Rank: 96
2AMD.L Sharpe Ratio Rank: 99
2AMD.L Sortino Ratio Rank: 94
2AMD.L Omega Ratio Rank: 92
2AMD.L Calmar Ratio Rank: 99
2AMD.L Martin Ratio Rank: 97

SPYX

SPYX Risk / Return Rank: 64
SPYX Sharpe Ratio Rank: 66
SPYX Sortino Ratio Rank: 65
SPYX Omega Ratio Rank: 66
SPYX Calmar Ratio Rank: 55
SPYX Martin Ratio Rank: 68

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

2AMD.L vs. SPYX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Leverage Shares 2x Advanced Micro Devices ETC GBP (2AMD.L) and State Street SPDR S&P 500 Fossil Fuel Reserves Free ETF (SPYX). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

	2AMD.L	SPYX	Difference
Sharpe ratio: Return per unit of total volatility	9.26	2.39	+6.87
Sortino ratio: Return per unit of downside risk	4.82	3.13	+1.69
Omega ratio: Gain probability vs. loss probability	1.63	1.44	+0.18
Calmar ratio: Return relative to maximum drawdown	21.03	3.21	+17.83
Martin ratio: Return relative to average drawdown	41.31	12.27	+29.04
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

2AMD.L vs. SPYX - Sharpe Ratio Comparison

The current 2AMD.L Sharpe Ratio is 9.26, which is higher than the SPYX Sharpe Ratio of 2.39. The chart below compares the historical Sharpe Ratios of 2AMD.L and SPYX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	2AMD.L	SPYX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	9.26	2.39	+6.87
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.44	0.92	-0.48
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.91	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.48	0.90	-0.42

Drawdowns

2AMD.L vs. SPYX - Drawdown Comparison

The maximum 2AMD.L drawdown since its inception was -91.38%, which is greater than SPYX's maximum drawdown of -24.80%. Use the drawdown chart below to compare losses from any high point for 2AMD.L and SPYX.

Drawdown Indicators

	2AMD.L	SPYX	Difference
Max Drawdown Largest peak-to-trough decline	-91.38%	-24.80%	-66.58%
Max Drawdown (1Y) Largest decline over 1 year	-55.04%	-8.74%	-46.30%
Max Drawdown (3Y) Largest decline over 3 years	-89.49%	-22.07%	-67.42%
Max Drawdown (5Y) Largest decline over 5 years	-91.38%	-22.07%	-69.31%
Max Drawdown (10Y) Largest decline over 10 years	—	-24.80%	—
Current Drawdown Current decline from peak	-4.46%	-0.51%	-3.95%
Average Drawdown Average peak-to-trough decline	-54.54%	-3.48%	-51.06%
Ulcer Index Depth and duration of drawdowns from previous peaks	28.08%	2.28%	+25.80%

Volatility

2AMD.L vs. SPYX - Volatility Comparison

Leverage Shares 2x Advanced Micro Devices ETC GBP (2AMD.L) has a higher volatility of 46.51% compared to State Street SPDR S&P 500 Fossil Fuel Reserves Free ETF (SPYX) at 2.81%. This indicates that 2AMD.L's price experiences larger fluctuations and is considered to be riskier than SPYX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	2AMD.L	SPYX	Difference
Volatility (1M) Calculated over the trailing 1-month period	46.51%	2.81%	+43.70%
Volatility (6M) Calculated over the trailing 6-month period	87.42%	8.44%	+78.98%
Volatility (1Y) Calculated over the trailing 1-year period	124.99%	11.74%	+113.25%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	104.20%	16.00%	+88.20%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	102.07%	18.07%	+84.00%

2AMD.L vs. SPYX - Expense Ratio Comparison

2AMD.L has a 0.75% expense ratio, which is higher than SPYX's 0.20% expense ratio.

Dividends

2AMD.L vs. SPYX - Dividend Comparison

2AMD.L has not paid dividends to shareholders, while SPYX's dividend yield for the trailing twelve months is around 0.84%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
2AMD.L Leverage Shares 2x Advanced Micro Devices ETC GBP	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
SPYX State Street SPDR S&P 500 Fossil Fuel Reserves Free ETF	0.84%	0.91%	1.05%	1.21%	1.41%	1.04%	1.33%	1.56%	1.92%	1.68%	1.91%	0.16%

Frequently Asked Questions

Can I hold both 2AMD.L and SPYX in my portfolio?

2AMD.L and SPYX have a correlation of 0.36, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, 2AMD.L or SPYX?

On fees, SPYX is cheaper at 0.20% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, 2AMD.L or SPYX?

SPYX is cheaper with a 0.20% expense ratio, compared with 0.75% for 2AMD.L.

What is the main difference between 2AMD.L and SPYX?

2AMD.L is categorized as Leveraged Equities, while SPYX is S&P 500. 2AMD.L tracks iSTOXX Leveraged 2X AMD Index, while SPYX tracks S&P 500 Fossil Fuel Reserves Free Index. They also come from different issuers: Leverage Shares and State Street. Their fees differ too: 0.75% for 2AMD.L and 0.20% for SPYX.