3BAB.L vs. DL2P.L
3BAB.L (Leverage Shares 3x Alibaba ETC) and DL2P.L (L&G DAX Daily 2x Long UCITS ETF EUR (Acc)) are both Leveraged Equities funds - 3BAB.L tracks the iSTOXX Leveraged 3x BABA Index while DL2P.L tracks the LevDAX x2 Index Gross TR EUR. Both are passively managed. Over the past 3 years, 3BAB.L returned -32.04%/yr vs 22.64%/yr for DL2P.L. At a 0.29 correlation, their price movements are largely independent. 3BAB.L charges 0.75%/yr vs 0.40%/yr for DL2P.L.
Performance
3BAB.L vs. DL2P.L - Performance Comparison
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Returns By Period
In the year-to-date period, 3BAB.L achieves a -62.83% return, which is significantly lower than DL2P.L's -4.46% return.
3BAB.L
- 1D
- 0.34%
- 1M
- 17.94%
- 6M
- -75.91%
- YTD
- -62.83%
- 1Y
- -45.78%
- 3Y*
- -32.04%
- 5Y*
- —
- 10Y*
- —
DL2P.L
- 1D
- -1.19%
- 1M
- -2.91%
- 6M
- -10.27%
- YTD
- -4.46%
- 1Y
- -3.89%
- 3Y*
- 22.64%
- 5Y*
- 11.89%
- 10Y*
- 12.87%
3BAB.L vs. DL2P.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
3BAB.L Leverage Shares 3x Alibaba ETC | -62.83% | 109.01% | -18.41% | -40.40% |
DL2P.L L&G DAX Daily 2x Long UCITS ETF EUR (Acc) | -4.46% | 44.27% | 25.79% | 3.23% |
Correlation
The correlation between 3BAB.L and DL2P.L is 0.25, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.25 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.27 |
Correlation (All Time) Calculated using the full available price history since May 24, 2023 | 0.29 |
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Return for Risk
3BAB.L vs. DL2P.L — Risk / Return Rank
3BAB.L
DL2P.L
3BAB.L vs. DL2P.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Leverage Shares 3x Alibaba ETC (3BAB.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.
| 3BAB.L | DL2P.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.23 | ||
| Sortino ratioReturn per unit of downside risk | +0.22 | ||
| Omega ratioGain probability vs. loss probability | 1.03 | 1.00 | +0.02 |
| Calmar ratioReturn relative to maximum drawdown | -0.50 | -0.16 | -0.33 |
| Martin ratioReturn relative to average drawdown | -0.79 | -0.46 | -0.33 |
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Drawdowns
3BAB.L vs. DL2P.L - Drawdown Comparison
The maximum 3BAB.L drawdown since its inception was -92.05%, 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 3BAB.L and DL2P.L.
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Drawdown Indicators
| 3BAB.L | DL2P.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -92.05% | -63.02% | -29.03% |
Max Drawdown (1Y)Largest decline over 1 year | -92.05% | -23.87% | -68.18% |
Max Drawdown (3Y)Largest decline over 3 years | -92.05% | -28.21% | -63.84% |
Max Drawdown (5Y)Largest decline over 5 years | — | -46.63% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -63.02% | — |
Current DrawdownCurrent decline from peak | -85.46% | -10.55% | -74.91% |
Average DrawdownAverage peak-to-trough decline | -54.85% | -16.32% | -38.53% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 58.14% | 8.50% | +49.64% |
Volatility
3BAB.L vs. DL2P.L - Volatility Comparison
Leverage Shares 3x Alibaba ETC (3BAB.L) has a higher volatility of 43.99% compared to L&G DAX Daily 2x Long UCITS ETF EUR (Acc) (DL2P.L) at 9.47%. This indicates that 3BAB.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
| 3BAB.L | DL2P.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 43.99% | 9.47% | +34.52% |
Volatility (6M)Calculated over the trailing 6-month period | 90.56% | 26.53% | +64.03% |
Volatility (1Y)Calculated over the trailing 1-year period | 129.90% | 31.14% | +98.76% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 127.45% | 33.71% | +93.74% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 127.45% | 35.50% | +91.95% |
3BAB.L vs. DL2P.L - Expense Ratio Comparison
3BAB.L has a 0.75% expense ratio, which is higher than DL2P.L's 0.40% expense ratio.
Dividends
3BAB.L vs. DL2P.L - Dividend Comparison
Neither 3BAB.L nor DL2P.L has paid dividends to shareholders.
Frequently Asked Questions
3BAB.L and DL2P.L have a correlation of 0.25, 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 3BAB.L.
3BAB.L tracks iSTOXX Leveraged 3x BABA 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 3BAB.L and 0.40% for DL2P.L.
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