2BRE.L vs. DES2.L
2BRE.L (Leverage Shares 2x Long Berkshire Hathaway (BRK-B) ETC EUR) and DES2.L (L&G DAX Daily 2x Short UCITS ETF EUR (Acc)) are both exchange-traded funds - 2BRE.L is a Leveraged Equities fund actively managed by Leverage Shares, while DES2.L is a Inverse Equities fund tracking the ShortDAX x2 Index Gross TR EUR. 2BRE.L is actively managed, while DES2.L is passively managed. Over the past year, 2BRE.L returned 0.13% vs -9.69% for DES2.L. At a correlation of -0.22, they often move in opposite directions. 2BRE.L charges 0.75%/yr vs 0.60%/yr for DES2.L.
Performance
2BRE.L vs. DES2.L - Performance Comparison
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Returns By Period
In the year-to-date period, 2BRE.L achieves a -6.00% return, which is significantly lower than DES2.L's -5.68% return.
2BRE.L
- 1D
- 0.00%
- 1M
- 1.40%
- 6M
- -2.68%
- YTD
- -6.00%
- 1Y
- 0.13%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
DES2.L
- 1D
- 0.93%
- 1M
- -0.95%
- 6M
- -0.56%
- YTD
- -5.68%
- 1Y
- -9.69%
- 3Y*
- -24.55%
- 5Y*
- -20.32%
- 10Y*
- -23.54%
2BRE.L vs. DES2.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
2BRE.L Leverage Shares 2x Long Berkshire Hathaway (BRK-B) ETC EUR | -6.00% | -4.91% | 13.54% |
DES2.L L&G DAX Daily 2x Short UCITS ETF EUR (Acc) | -5.68% | -36.17% | -15.70% |
Correlation
The correlation between 2BRE.L and DES2.L is -0.09, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.09 |
Correlation (All Time) Calculated using the full available price history since Apr 16, 2024 | -0.22 |
The correlation between 2BRE.L and DES2.L shifts across timeframes, from -0.22 (all time) to -0.09 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
2BRE.L vs. DES2.L — Risk / Return Rank
2BRE.L
DES2.L
2BRE.L vs. DES2.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Leverage Shares 2x Long Berkshire Hathaway (BRK-B) ETC EUR (2BRE.L) and L&G DAX Daily 2x Short UCITS ETF EUR (Acc) (DES2.L). 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.
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.
| 2BRE.L | DES2.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.31 | ||
| Sortino ratioReturn per unit of downside risk | +0.44 | ||
| Omega ratioGain probability vs. loss probability | 1.02 | 0.97 | +0.05 |
| Calmar ratioReturn relative to maximum drawdown | 0.01 | -0.37 | +0.38 |
| Martin ratioReturn relative to average drawdown | 0.01 | -0.80 | +0.81 |
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Drawdowns
2BRE.L vs. DES2.L - Drawdown Comparison
The maximum 2BRE.L drawdown since its inception was -39.67%, smaller than the maximum DES2.L drawdown of -99.57%. Use the drawdown chart below to compare losses from any high point for 2BRE.L and DES2.L.
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Drawdown Indicators
| 2BRE.L | DES2.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -39.67% | -99.57% | +59.90% |
Max Drawdown (1Y)Largest decline over 1 year | -22.65% | -25.84% | +3.19% |
Max Drawdown (3Y)Largest decline over 3 years | — | -66.96% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -78.04% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -93.66% | — |
Current DrawdownCurrent decline from peak | -31.52% | -99.55% | +68.03% |
Average DrawdownAverage peak-to-trough decline | -18.95% | -87.79% | +68.84% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 11.65% | 12.11% | -0.46% |
Volatility
2BRE.L vs. DES2.L - Volatility Comparison
The current volatility for Leverage Shares 2x Long Berkshire Hathaway (BRK-B) ETC EUR (2BRE.L) is 7.09%, while L&G DAX Daily 2x Short UCITS ETF EUR (Acc) (DES2.L) has a volatility of 9.28%. This indicates that 2BRE.L experiences smaller price fluctuations and is considered to be less risky than DES2.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| 2BRE.L | DES2.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.09% | 9.28% | -2.19% |
Volatility (6M)Calculated over the trailing 6-month period | 21.19% | 26.99% | -5.80% |
Volatility (1Y)Calculated over the trailing 1-year period | 28.90% | 32.03% | -3.13% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 34.92% | 34.22% | +0.70% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 34.92% | 36.12% | -1.20% |
2BRE.L vs. DES2.L - Expense Ratio Comparison
2BRE.L has a 0.75% expense ratio, which is higher than DES2.L's 0.60% expense ratio.
Dividends
2BRE.L vs. DES2.L - Dividend Comparison
Neither 2BRE.L nor DES2.L has paid dividends to shareholders.
Frequently Asked Questions
2BRE.L and DES2.L have a correlation of -0.09, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, DES2.L is cheaper at 0.60% per year. The better choice depends on whether you care most about return, fees, risk, or income.
DES2.L is cheaper with a 0.60% expense ratio, compared with 0.75% for 2BRE.L.
2BRE.L is categorized as Leveraged Equities, while DES2.L is Inverse Equities. They also come from different issuers: Leverage Shares and L&G. Their fees differ too: 0.75% for 2BRE.L and 0.60% for DES2.L.
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