3BAL.L vs. DS2P.L
3BAL.L (WisdomTree EURO STOXX Banks 3x Daily Leveraged) and DS2P.L (L&G DAX Daily 2x Short UCITS ETF EUR (Acc)) are both Leveraged Equities funds - 3BAL.L tracks the EURO STOXX Banks Daily Leverage 3 EUR Net Return Index while DS2P.L tracks the ShortDAX x2 Index Gross TR EUR. Both are passively managed. Over the past 10 years, 3BAL.L returned 18.08%/yr vs -23.26%/yr for DS2P.L. At a correlation of -0.66, they often move in opposite directions. 3BAL.L charges 0.89%/yr vs 0.50%/yr for DS2P.L.
Performance
3BAL.L vs. DS2P.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 DS2P.L's -11.43% return. Over the past 10 years, 3BAL.L has outperformed DS2P.L with an annualized return of 18.08%, while DS2P.L has yielded a comparatively lower -23.26% 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%
DS2P.L
- 1D
- 1.26%
- 1M
- -1.25%
- 6M
- -1.25%
- YTD
- -11.43%
- 1Y
- -10.34%
- 3Y*
- -24.61%
- 5Y*
- -20.24%
- 10Y*
- -23.26%
3BAL.L vs. DS2P.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% |
DS2P.L L&G DAX Daily 2x Short UCITS ETF EUR (Acc) | -11.43% | -29.68% | -28.35% | -29.73% | 13.75% | -35.96% | -31.61% | -42.13% | 34.26% | -24.13% |
Correlation
The correlation between 3BAL.L and DS2P.L is -0.67, 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 | -0.67 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.68 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.67 |
Correlation (10Y) Calculated over the trailing 10-year period | -0.63 |
Correlation (All Time) Calculated using the full available price history since Dec 8, 2014 | -0.66 |
The correlation between 3BAL.L and DS2P.L has been stable across timeframes, ranging from -0.68 to -0.63 - a consistent structural relationship.
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Return for Risk
3BAL.L vs. DS2P.L — Risk / Return Rank
3BAL.L
DS2P.L
3BAL.L vs. DS2P.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 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.
| 3BAL.L | DS2P.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +2.82 | ||
| Sortino ratioReturn per unit of downside risk | +3.02 | ||
| Omega ratioGain probability vs. loss probability | 1.35 | 0.97 | +0.37 |
| Calmar ratioReturn relative to maximum drawdown | 3.80 | -0.38 | +4.18 |
| Martin ratioReturn relative to average drawdown | 10.22 | -0.82 | +11.04 |
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Drawdowns
3BAL.L vs. DS2P.L - Drawdown Comparison
The maximum 3BAL.L drawdown since its inception was -99.29%, roughly equal to the maximum DS2P.L drawdown of -99.62%. Use the drawdown chart below to compare losses from any high point for 3BAL.L and DS2P.L.
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Drawdown Indicators
| 3BAL.L | DS2P.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -99.29% | -99.62% | +0.33% |
Max Drawdown (1Y)Largest decline over 1 year | -45.44% | -27.26% | -18.18% |
Max Drawdown (3Y)Largest decline over 3 years | -50.31% | -67.63% | +17.32% |
Max Drawdown (5Y)Largest decline over 5 years | -77.94% | -78.85% | +0.91% |
Max Drawdown (10Y)Largest decline over 10 years | -97.78% | -93.76% | -4.02% |
Current DrawdownCurrent decline from peak | -45.45% | -99.60% | +54.15% |
Average DrawdownAverage peak-to-trough decline | -81.83% | -89.22% | +7.39% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 16.92% | 12.75% | +4.17% |
Volatility
3BAL.L vs. DS2P.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 Short UCITS ETF EUR (Acc) (DS2P.L) at 9.55%. This indicates that 3BAL.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
| 3BAL.L | DS2P.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 17.32% | 9.55% | +7.77% |
Volatility (6M)Calculated over the trailing 6-month period | 56.92% | 28.12% | +28.80% |
Volatility (1Y)Calculated over the trailing 1-year period | 68.84% | 34.11% | +34.73% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 74.81% | 36.75% | +38.06% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 82.40% | 38.73% | +43.67% |
3BAL.L vs. DS2P.L - Expense Ratio Comparison
3BAL.L has a 0.89% expense ratio, which is higher than DS2P.L's 0.50% expense ratio.
Dividends
3BAL.L vs. DS2P.L - Dividend Comparison
Neither 3BAL.L nor DS2P.L has paid dividends to shareholders.
Frequently Asked Questions
3BAL.L and DS2P.L have a correlation of -0.67, 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 0.89% for 3BAL.L.
3BAL.L tracks EURO STOXX Banks Daily Leverage 3 EUR Net Return Index, while DS2P.L tracks ShortDAX 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 0.50% for DS2P.L.
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