3AMD.L vs. DL2P.L
3AMD.L (Leverage Shares 3x AMD ETC GBP) and DL2P.L (L&G DAX Daily 2x Long UCITS ETF EUR (Acc)) are both Leveraged Equities funds - 3AMD.L tracks the iSTOXX Leveraged 3x AMD Index while DL2P.L tracks the LevDAX x2 Index Gross TR EUR. Both are passively managed. Over the past 5 years, 3AMD.L returned -2.85%/yr vs 11.86%/yr for DL2P.L. At a 0.42 correlation, their price movements are largely independent. 3AMD.L charges 0.75%/yr vs 0.40%/yr for DL2P.L.
Performance
3AMD.L vs. DL2P.L - Performance Comparison
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Returns By Period
In the year-to-date period, 3AMD.L achieves a 345.21% return, which is significantly higher than DL2P.L's -4.61% return.
3AMD.L
- 1D
- -12.57%
- 1M
- -29.47%
- 6M
- 258.72%
- YTD
- 345.21%
- 1Y
- 526.67%
- 3Y*
- 37.82%
- 5Y*
- -2.85%
- 10Y*
- —
DL2P.L
- 1D
- -0.16%
- 1M
- -3.28%
- 6M
- -9.64%
- YTD
- -4.61%
- 1Y
- -5.87%
- 3Y*
- 22.26%
- 5Y*
- 11.86%
- 10Y*
- 13.00%
3AMD.L vs. DL2P.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
3AMD.L Leverage Shares 3x AMD ETC GBP | 345.21% | 53.76% | -76.38% | 448.82% | -97.41% | 341.88% |
DL2P.L L&G DAX Daily 2x Long UCITS ETF EUR (Acc) | -4.61% | 44.27% | 25.79% | 31.85% | -23.59% | -1.28% |
Correlation
The correlation between 3AMD.L and DL2P.L is 0.38, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.38 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.40 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.43 |
Correlation (All Time) Calculated using the full available price history since Jun 3, 2021 | 0.42 |
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Return for Risk
3AMD.L vs. DL2P.L — Risk / Return Rank
3AMD.L
DL2P.L
3AMD.L vs. DL2P.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Leverage Shares 3x AMD ETC GBP (3AMD.L) and L&G DAX Daily 2x Long UCITS ETF EUR (Acc) (DL2P.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.
| 3AMD.L | DL2P.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +2.78 | ||
| Sortino ratioReturn per unit of downside risk | +3.33 | ||
| Omega ratioGain probability vs. loss probability | 1.40 | 0.99 | +0.41 |
| Calmar ratioReturn relative to maximum drawdown | 6.84 | -0.25 | +7.08 |
| Martin ratioReturn relative to average drawdown | 12.42 | -0.69 | +13.11 |
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Drawdowns
3AMD.L vs. DL2P.L - Drawdown Comparison
The maximum 3AMD.L drawdown since its inception was -99.50%, which is greater than DL2P.L's maximum drawdown of -63.02%. Use the drawdown chart below to compare losses from any high point for 3AMD.L and DL2P.L.
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Drawdown Indicators
| 3AMD.L | DL2P.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -99.50% | -63.02% | -36.48% |
Max Drawdown (1Y)Largest decline over 1 year | -76.34% | -23.87% | -52.47% |
Max Drawdown (3Y)Largest decline over 3 years | -97.93% | -28.21% | -69.72% |
Max Drawdown (5Y)Largest decline over 5 years | -99.50% | -46.63% | -52.87% |
Max Drawdown (10Y)Largest decline over 10 years | — | -63.02% | — |
Current DrawdownCurrent decline from peak | -83.16% | -10.68% | -72.48% |
Average DrawdownAverage peak-to-trough decline | -83.19% | -16.32% | -66.87% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 42.13% | 8.52% | +33.61% |
Volatility
3AMD.L vs. DL2P.L - Volatility Comparison
Leverage Shares 3x AMD ETC GBP (3AMD.L) has a higher volatility of 71.57% compared to L&G DAX Daily 2x Long UCITS ETF EUR (Acc) (DL2P.L) at 9.40%. This indicates that 3AMD.L's price experiences larger fluctuations and is considered to be riskier than DL2P.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| 3AMD.L | DL2P.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 71.57% | 9.40% | +62.17% |
Volatility (6M)Calculated over the trailing 6-month period | 154.80% | 26.51% | +128.29% |
Volatility (1Y)Calculated over the trailing 1-year period | 201.90% | 31.14% | +170.76% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 162.48% | 33.70% | +128.78% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 161.04% | 35.50% | +125.54% |
3AMD.L vs. DL2P.L - Expense Ratio Comparison
3AMD.L has a 0.75% expense ratio, which is higher than DL2P.L's 0.40% expense ratio.
Dividends
3AMD.L vs. DL2P.L - Dividend Comparison
Neither 3AMD.L nor DL2P.L has paid dividends to shareholders.
Frequently Asked Questions
3AMD.L and DL2P.L have a correlation of 0.38, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, DL2P.L is cheaper at 0.40% per year. The better choice depends on whether you care most about return, fees, risk, or income.
DL2P.L is cheaper with a 0.40% expense ratio, compared with 0.75% for 3AMD.L.
3AMD.L tracks iSTOXX Leveraged 3x AMD Index, while DL2P.L tracks LevDAX x2 Index Gross TR EUR. They also come from different issuers: Leverage Shares and L&G. Their fees differ too: 0.75% for 3AMD.L and 0.40% for DL2P.L.
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