3BAB.L vs. DS2P.L
3BAB.L (Leverage Shares 3x Alibaba ETC) and DS2P.L (L&G DAX Daily 2x Short UCITS ETF EUR (Acc)) are both Leveraged Equities funds - 3BAB.L tracks the iSTOXX Leveraged 3x BABA Index while DS2P.L tracks the ShortDAX x2 Index Gross TR EUR. Both are passively managed. Over the past 3 years, 3BAB.L returned -32.04%/yr vs -24.63%/yr for DS2P.L. At a correlation of -0.29, they often move in opposite directions. 3BAB.L charges 0.75%/yr vs 0.50%/yr for DS2P.L.
Performance
3BAB.L vs. DS2P.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 DS2P.L's -11.50% return.
3BAB.L
- 1D
- 0.34%
- 1M
- 17.94%
- 6M
- -75.91%
- YTD
- -62.83%
- 1Y
- -45.78%
- 3Y*
- -32.04%
- 5Y*
- —
- 10Y*
- —
DS2P.L
- 1D
- 1.18%
- 1M
- -1.34%
- 6M
- -0.91%
- YTD
- -11.50%
- 1Y
- -10.58%
- 3Y*
- -24.63%
- 5Y*
- -20.25%
- 10Y*
- -23.26%
3BAB.L vs. DS2P.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
3BAB.L Leverage Shares 3x Alibaba ETC | -62.83% | 109.01% | -18.41% | -40.40% |
DS2P.L L&G DAX Daily 2x Short UCITS ETF EUR (Acc) | -11.50% | -29.68% | -28.35% | -3.29% |
Correlation
The correlation between 3BAB.L and DS2P.L is -0.26, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.26 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.28 |
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. DS2P.L — Risk / Return Rank
3BAB.L
DS2P.L
3BAB.L vs. DS2P.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 Short UCITS ETF EUR (Acc) (DS2P.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 | DS2P.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.04 | ||
| Sortino ratioReturn per unit of downside risk | +0.48 | ||
| Omega ratioGain probability vs. loss probability | 1.03 | 0.97 | +0.05 |
| Calmar ratioReturn relative to maximum drawdown | -0.50 | -0.39 | -0.11 |
| Martin ratioReturn relative to average drawdown | -0.79 | -0.83 | +0.04 |
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Drawdowns
3BAB.L vs. DS2P.L - Drawdown Comparison
The maximum 3BAB.L drawdown since its inception was -92.05%, smaller than the maximum DS2P.L drawdown of -99.62%. Use the drawdown chart below to compare losses from any high point for 3BAB.L and DS2P.L.
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Drawdown Indicators
| 3BAB.L | DS2P.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -92.05% | -99.62% | +7.57% |
Max Drawdown (1Y)Largest decline over 1 year | -92.05% | -27.26% | -64.79% |
Max Drawdown (3Y)Largest decline over 3 years | -92.05% | -67.63% | -24.42% |
Max Drawdown (5Y)Largest decline over 5 years | — | -78.85% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -93.76% | — |
Current DrawdownCurrent decline from peak | -85.46% | -99.60% | +14.14% |
Average DrawdownAverage peak-to-trough decline | -54.85% | -89.22% | +34.37% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 58.14% | 12.75% | +45.39% |
Volatility
3BAB.L vs. DS2P.L - Volatility Comparison
Leverage Shares 3x Alibaba ETC (3BAB.L) has a higher volatility of 43.99% compared to L&G DAX Daily 2x Short UCITS ETF EUR (Acc) (DS2P.L) at 9.54%. This indicates that 3BAB.L's price experiences larger fluctuations and is considered to be riskier than DS2P.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 | DS2P.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 43.99% | 9.54% | +34.45% |
Volatility (6M)Calculated over the trailing 6-month period | 90.56% | 28.12% | +62.44% |
Volatility (1Y)Calculated over the trailing 1-year period | 129.90% | 34.10% | +95.80% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 127.45% | 36.75% | +90.70% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 127.45% | 38.73% | +88.72% |
3BAB.L vs. DS2P.L - Expense Ratio Comparison
3BAB.L has a 0.75% expense ratio, which is higher than DS2P.L's 0.50% expense ratio.
Dividends
3BAB.L vs. DS2P.L - Dividend Comparison
Neither 3BAB.L nor DS2P.L has paid dividends to shareholders.
Frequently Asked Questions
3BAB.L and DS2P.L have a correlation of -0.26, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, DS2P.L is cheaper at 0.50% per year. The better choice depends on whether you care most about return, fees, risk, or income.
DS2P.L is cheaper with a 0.50% expense ratio, compared with 0.75% for 3BAB.L.
3BAB.L tracks iSTOXX Leveraged 3x BABA Index, while DS2P.L tracks ShortDAX 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 0.50% for DS2P.L.
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