2MSF.L vs. LUK2.L
2MSF.L (Leverage Shares 2x Microsoft ETC A GBP) and LUK2.L (L&G FTSE 100 Leveraged (Daily 2x) UCITS ETF GBP (Acc)) are both Leveraged Equities funds - 2MSF.L tracks the NYSE Leveraged 2x MSFT Index while LUK2.L tracks the FTSE 100 Daily Leveraged Index. Both are passively managed. Over the past 5 years, 2MSF.L returned 0.80%/yr vs 17.31%/yr for LUK2.L. At a 0.32 correlation, their price movements are largely independent. 2MSF.L charges 0.75%/yr vs 0.50%/yr for LUK2.L.
Performance
2MSF.L vs. LUK2.L - Performance Comparison
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Returns By Period
In the year-to-date period, 2MSF.L achieves a -41.74% return, which is significantly lower than LUK2.L's 12.85% return.
2MSF.L
- 1D
- -3.95%
- 1M
- 0.72%
- 6M
- -34.51%
- YTD
- -41.74%
- 1Y
- -50.26%
- 3Y*
- -5.82%
- 5Y*
- 0.80%
- 10Y*
- —
LUK2.L
- 1D
- 0.67%
- 1M
- 1.34%
- 6M
- 6.53%
- YTD
- 12.85%
- 1Y
- 36.06%
- 3Y*
- 24.04%
- 5Y*
- 17.31%
- 10Y*
- 10.51%
2MSF.L vs. LUK2.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
2MSF.L Leverage Shares 2x Microsoft ETC A GBP | -41.74% | 4.50% | 17.75% | 106.56% | -51.52% | 121.86% | 56.71% | 122.13% | 0.93% | 0.50% |
LUK2.L L&G FTSE 100 Leveraged (Daily 2x) UCITS ETF GBP (Acc) | 12.85% | 43.73% | 9.81% | 6.59% | 3.75% | 34.76% | -30.43% | 32.52% | -20.70% | 10.66% |
Correlation
The correlation between 2MSF.L and LUK2.L is 0.08, 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 | 0.08 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.14 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.23 |
Correlation (All Time) Calculated using the full available price history since Dec 8, 2017 | 0.32 |
Over the past year, the correlation between 2MSF.L and LUK2.L has dropped to 0.08 - well below their long-term average of 0.32, suggesting their price drivers have been diverging.
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Return for Risk
2MSF.L vs. LUK2.L — Risk / Return Rank
2MSF.L
LUK2.L
2MSF.L vs. LUK2.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Leverage Shares 2x Microsoft ETC A GBP (2MSF.L) and L&G FTSE 100 Leveraged (Daily 2x) UCITS ETF GBP (Acc) (LUK2.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.
| 2MSF.L | LUK2.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.47 | ||
| Sortino ratioReturn per unit of downside risk | -3.38 | ||
| Omega ratioGain probability vs. loss probability | 0.85 | 1.29 | -0.44 |
| Calmar ratioReturn relative to maximum drawdown | -0.81 | 1.94 | -2.75 |
| Martin ratioReturn relative to average drawdown | -1.35 | 5.67 | -7.01 |
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Drawdowns
2MSF.L vs. LUK2.L - Drawdown Comparison
The maximum 2MSF.L drawdown since its inception was -61.61%, roughly equal to the maximum LUK2.L drawdown of -58.84%. Use the drawdown chart below to compare losses from any high point for 2MSF.L and LUK2.L.
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Drawdown Indicators
| 2MSF.L | LUK2.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -61.61% | -58.84% | -2.77% |
Max Drawdown (1Y)Largest decline over 1 year | -61.61% | -18.55% | -43.06% |
Max Drawdown (3Y)Largest decline over 3 years | -61.61% | -25.42% | -36.19% |
Max Drawdown (5Y)Largest decline over 5 years | -61.61% | -25.42% | -36.19% |
Max Drawdown (10Y)Largest decline over 10 years | — | -58.84% | — |
Current DrawdownCurrent decline from peak | -55.13% | -6.16% | -48.97% |
Average DrawdownAverage peak-to-trough decline | -19.16% | -10.67% | -8.49% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 37.31% | 6.34% | +30.97% |
Volatility
2MSF.L vs. LUK2.L - Volatility Comparison
Leverage Shares 2x Microsoft ETC A GBP (2MSF.L) has a higher volatility of 19.68% compared to L&G FTSE 100 Leveraged (Daily 2x) UCITS ETF GBP (Acc) (LUK2.L) at 5.83%. This indicates that 2MSF.L's price experiences larger fluctuations and is considered to be riskier than LUK2.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| 2MSF.L | LUK2.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 19.68% | 5.83% | +13.85% |
Volatility (6M)Calculated over the trailing 6-month period | 51.89% | 19.66% | +32.23% |
Volatility (1Y)Calculated over the trailing 1-year period | 57.05% | 22.62% | +34.43% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 51.18% | 25.60% | +25.58% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 51.73% | 29.65% | +22.08% |
2MSF.L vs. LUK2.L - Expense Ratio Comparison
2MSF.L has a 0.75% expense ratio, which is higher than LUK2.L's 0.50% expense ratio.
Dividends
2MSF.L vs. LUK2.L - Dividend Comparison
Neither 2MSF.L nor LUK2.L has paid dividends to shareholders.
Frequently Asked Questions
2MSF.L and LUK2.L have a correlation of 0.08, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, LUK2.L is cheaper at 0.50% per year. The better choice depends on whether you care most about return, fees, risk, or income.
LUK2.L is cheaper with a 0.50% expense ratio, compared with 0.75% for 2MSF.L.
2MSF.L tracks NYSE Leveraged 2x MSFT Index, while LUK2.L tracks FTSE 100 Daily Leveraged Index. They also come from different issuers: Leverage Shares and L&G. Their fees differ too: 0.75% for 2MSF.L and 0.50% for LUK2.L.
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