3BAL.L vs. DEL2.L
3BAL.L (WisdomTree EURO STOXX Banks 3x Daily Leveraged) and DEL2.L (L&G DAX Daily 2x Long UCITS ETF EUR (Acc)) are both Leveraged Equities funds - 3BAL.L tracks the EURO STOXX Banks Daily Leverage 3 EUR Net Return Index while DEL2.L tracks the LevDAX x2 Index Gross TR EUR. Both are passively managed. Over the past 10 years, 3BAL.L returned 18.08%/yr vs 12.96%/yr for DEL2.L. A 0.67 correlation means they provide meaningful diversification when combined. 3BAL.L charges 0.89%/yr vs 0.40%/yr for DEL2.L.
Performance
3BAL.L vs. DEL2.L - Performance Comparison
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Different Trading Currencies
3BAL.L is traded in GBp, while DEL2.L is traded in EUR. To make them comparable, the DEL2.L values have been converted to GBp using the latest available exchange rates.
Returns By Period
In the year-to-date period, 3BAL.L achieves a 30.40% return, which is significantly higher than DEL2.L's -3.16% return. Over the past 10 years, 3BAL.L has outperformed DEL2.L with an annualized return of 18.08%, while DEL2.L has yielded a comparatively lower 12.96% annualized return.
3BAL.L
- 1D
- -1.78%
- 1M
- 13.75%
- 6M
- 20.59%
- YTD
- 30.40%
- 1Y
- 173.72%
- 3Y*
- 142.98%
- 5Y*
- 80.81%
- 10Y*
- 18.08%
DEL2.L
- 1D
- 0.00%
- 1M
- -1.65%
- 6M
- -8.69%
- YTD
- -3.16%
- 1Y
- -2.59%
- 3Y*
- 23.12%
- 5Y*
- 12.14%
- 10Y*
- 12.96%
3BAL.L vs. DEL2.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
3BAL.L WisdomTree EURO STOXX Banks 3x Daily Leveraged | 30.40% | 433.07% | 68.07% | 63.85% | -24.90% | 108.27% | -79.89% | 25.77% | -70.96% | 15.80% |
DEL2.L L&G DAX Daily 2x Long UCITS ETF EUR (Acc) | -3.16% | 44.60% | 25.67% | 31.99% | -23.97% | 22.32% | 1.42% | 37.83% | -35.00% | 33.24% |
Correlation
The correlation between 3BAL.L and DEL2.L is 0.69, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.69 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.71 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.70 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.65 |
Correlation (All Time) Calculated using the full available price history since Dec 8, 2014 | 0.67 |
The correlation between 3BAL.L and DEL2.L has been stable across timeframes, ranging from 0.65 to 0.71 - a consistent structural relationship.
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Return for Risk
3BAL.L vs. DEL2.L — Risk / Return Rank
3BAL.L
DEL2.L
3BAL.L vs. DEL2.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for WisdomTree EURO STOXX Banks 3x Daily Leveraged (3BAL.L) and L&G DAX Daily 2x Long UCITS ETF EUR (Acc) (DEL2.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.
| 3BAL.L | DEL2.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +2.59 | ||
| Sortino ratioReturn per unit of downside risk | +2.69 | ||
| Omega ratioGain probability vs. loss probability | 1.35 | 1.01 | +0.33 |
| Calmar ratioReturn relative to maximum drawdown | 3.80 | -0.10 | +3.90 |
| Martin ratioReturn relative to average drawdown | 10.22 | -0.31 | +10.53 |
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Drawdowns
3BAL.L vs. DEL2.L - Drawdown Comparison
The maximum 3BAL.L drawdown since its inception was -99.29%, which is greater than DEL2.L's maximum drawdown of -62.23%. Use the drawdown chart below to compare losses from any high point for 3BAL.L and DEL2.L.
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Drawdown Indicators
| 3BAL.L | DEL2.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -99.29% | -62.23% | -37.06% |
Max Drawdown (1Y)Largest decline over 1 year | -45.44% | -27.04% | -18.40% |
Max Drawdown (3Y)Largest decline over 3 years | -50.31% | -28.87% | -21.44% |
Max Drawdown (5Y)Largest decline over 5 years | -77.94% | -46.74% | -31.20% |
Max Drawdown (10Y)Largest decline over 10 years | -97.78% | -62.23% | -35.55% |
Current DrawdownCurrent decline from peak | -45.45% | -9.58% | -35.87% |
Average DrawdownAverage peak-to-trough decline | -81.83% | -16.01% | -65.82% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 16.92% | 8.63% | +8.29% |
Volatility
3BAL.L vs. DEL2.L - Volatility Comparison
WisdomTree EURO STOXX Banks 3x Daily Leveraged (3BAL.L) has a higher volatility of 17.32% compared to L&G DAX Daily 2x Long UCITS ETF EUR (Acc) (DEL2.L) at 9.31%. This indicates that 3BAL.L's price experiences larger fluctuations and is considered to be riskier than DEL2.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| 3BAL.L | DEL2.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 17.32% | 9.31% | +8.01% |
Volatility (6M)Calculated over the trailing 6-month period | 56.92% | 27.90% | +29.02% |
Volatility (1Y)Calculated over the trailing 1-year period | 68.84% | 32.70% | +36.14% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 74.81% | 34.12% | +40.69% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 82.40% | 35.70% | +46.70% |
3BAL.L vs. DEL2.L - Expense Ratio Comparison
3BAL.L has a 0.89% expense ratio, which is higher than DEL2.L's 0.40% expense ratio.
Dividends
3BAL.L vs. DEL2.L - Dividend Comparison
Neither 3BAL.L nor DEL2.L has paid dividends to shareholders.
Frequently Asked Questions
3BAL.L and DEL2.L have a correlation of 0.69, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, DEL2.L is cheaper at 0.40% per year. The better choice depends on whether you care most about return, fees, risk, or income.
DEL2.L is cheaper with a 0.40% expense ratio, compared with 0.89% for 3BAL.L.
3BAL.L tracks EURO STOXX Banks Daily Leverage 3 EUR Net Return Index, while DEL2.L tracks LevDAX x2 Index Gross TR EUR. They also come from different issuers: WisdomTree and L&G. Their fees differ too: 0.89% for 3BAL.L and 0.40% for DEL2.L.
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