3BAL.L vs. DL2P.L
3BAL.L (WisdomTree EURO STOXX Banks 3x Daily Leveraged) and DL2P.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 DL2P.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 12.86%/yr for DL2P.L. A 0.67 correlation means they provide meaningful diversification when combined. 3BAL.L charges 0.89%/yr vs 0.40%/yr for DL2P.L.
Performance
3BAL.L vs. DL2P.L - Performance Comparison
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Returns By Period
In the year-to-date period, 3BAL.L achieves a 30.40% return, which is significantly higher than DL2P.L's -4.56% return. Over the past 10 years, 3BAL.L has outperformed DL2P.L with an annualized return of 18.08%, while DL2P.L has yielded a comparatively lower 12.86% 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%
DL2P.L
- 1D
- -1.29%
- 1M
- -2.86%
- 6M
- -9.94%
- YTD
- -4.56%
- 1Y
- -3.84%
- 3Y*
- 22.60%
- 5Y*
- 11.87%
- 10Y*
- 12.86%
3BAL.L vs. DL2P.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% |
DL2P.L L&G DAX Daily 2x Long UCITS ETF EUR (Acc) | -4.56% | 44.27% | 25.79% | 31.85% | -23.59% | 21.61% | 1.34% | 38.90% | -33.44% | 29.05% |
Correlation
The correlation between 3BAL.L and DL2P.L is 0.72, 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 | 0.72 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.72 |
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 DL2P.L has been stable across timeframes, ranging from 0.65 to 0.72 - a consistent structural relationship.
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Return for Risk
3BAL.L vs. DL2P.L — Risk / Return Rank
3BAL.L
DL2P.L
3BAL.L vs. DL2P.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) (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.
| 3BAL.L | DL2P.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +2.64 | ||
| Sortino ratioReturn per unit of downside risk | +2.77 | ||
| Omega ratioGain probability vs. loss probability | 1.35 | 1.00 | +0.34 |
| Calmar ratioReturn relative to maximum drawdown | 3.80 | -0.17 | +3.97 |
| Martin ratioReturn relative to average drawdown | 10.22 | -0.47 | +10.69 |
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Drawdowns
3BAL.L vs. DL2P.L - Drawdown Comparison
The maximum 3BAL.L drawdown since its inception was -99.29%, 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 3BAL.L and DL2P.L.
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Drawdown Indicators
| 3BAL.L | DL2P.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -99.29% | -63.02% | -36.27% |
Max Drawdown (1Y)Largest decline over 1 year | -45.44% | -23.87% | -21.57% |
Max Drawdown (3Y)Largest decline over 3 years | -50.31% | -28.21% | -22.10% |
Max Drawdown (5Y)Largest decline over 5 years | -77.94% | -46.63% | -31.31% |
Max Drawdown (10Y)Largest decline over 10 years | -97.78% | -63.02% | -34.76% |
Current DrawdownCurrent decline from peak | -45.45% | -10.64% | -34.81% |
Average DrawdownAverage peak-to-trough decline | -81.83% | -16.32% | -65.51% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 16.92% | 8.50% | +8.42% |
Volatility
3BAL.L vs. DL2P.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) (DL2P.L) at 9.48%. This indicates that 3BAL.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
| 3BAL.L | DL2P.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 17.32% | 9.48% | +7.84% |
Volatility (6M)Calculated over the trailing 6-month period | 56.92% | 26.53% | +30.39% |
Volatility (1Y)Calculated over the trailing 1-year period | 68.84% | 31.14% | +37.70% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 74.81% | 33.71% | +41.10% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 82.40% | 35.50% | +46.90% |
3BAL.L vs. DL2P.L - Expense Ratio Comparison
3BAL.L has a 0.89% expense ratio, which is higher than DL2P.L's 0.40% expense ratio.
Dividends
3BAL.L vs. DL2P.L - Dividend Comparison
Neither 3BAL.L nor DL2P.L has paid dividends to shareholders.
Frequently Asked Questions
3BAL.L and DL2P.L have a correlation of 0.72, 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 0.89% for 3BAL.L.
3BAL.L tracks EURO STOXX Banks Daily Leverage 3 EUR Net Return Index, while DL2P.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 DL2P.L.
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