3CON.L vs. DL2P.L
3CON.L (Leverage Shares 3x Long Coinbase (COIN) ETP Securities GBP) and DL2P.L (L&G DAX Daily 2x Long UCITS ETF EUR (Acc)) are both Leveraged Equities funds - 3CON.L tracks the iSTOXX Leveraged 3x COIN Index while DL2P.L tracks the LevDAX x2 Index Gross TR EUR. Both are passively managed. Over the past 3 years, 3CON.L returned -79.15%/yr vs 22.26%/yr for DL2P.L. At a 0.38 correlation, their price movements are largely independent. 3CON.L charges 0.75%/yr vs 0.40%/yr for DL2P.L.
Performance
3CON.L vs. DL2P.L - Performance Comparison
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Returns By Period
In the year-to-date period, 3CON.L achieves a -88.53% return, which is significantly lower than DL2P.L's -4.61% return.
3CON.L
- 1D
- -15.17%
- 1M
- -31.82%
- 6M
- -89.00%
- YTD
- -88.53%
- 1Y
- -98.91%
- 3Y*
- -79.15%
- 5Y*
- —
- 10Y*
- —
DL2P.L
- 1D
- -0.16%
- 1M
- -3.28%
- 6M
- -9.64%
- YTD
- -4.61%
- 1Y
- -5.87%
- 3Y*
- 22.26%
- 5Y*
- 11.86%
- 10Y*
- 13.00%
3CON.L vs. DL2P.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
3CON.L Leverage Shares 3x Long Coinbase (COIN) ETP Securities GBP | -88.53% | -89.33% | -75.96% | 1,063.69% | 36.77% | 0.37% |
DL2P.L L&G DAX Daily 2x Long UCITS ETF EUR (Acc) | -4.61% | 44.27% | 25.79% | 31.85% | -23.59% | 0.94% |
Correlation
The correlation between 3CON.L and DL2P.L is 0.40, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.40 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.39 |
Correlation (All Time) Calculated using the full available price history since Dec 14, 2021 | 0.38 |
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Return for Risk
3CON.L vs. DL2P.L — Risk / Return Rank
3CON.L
DL2P.L
3CON.L vs. DL2P.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Leverage Shares 3x Long Coinbase (COIN) ETP Securities GBP (3CON.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.
| 3CON.L | DL2P.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.30 | ||
| Sortino ratioReturn per unit of downside risk | -1.71 | ||
| Omega ratioGain probability vs. loss probability | 0.82 | 0.99 | -0.18 |
| Calmar ratioReturn relative to maximum drawdown | -1.00 | -0.25 | -0.75 |
| Martin ratioReturn relative to average drawdown | -1.14 | -0.69 | -0.45 |
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Drawdowns
3CON.L vs. DL2P.L - Drawdown Comparison
The maximum 3CON.L drawdown since its inception was -100.00%, 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 3CON.L and DL2P.L.
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Drawdown Indicators
| 3CON.L | DL2P.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -100.00% | -63.02% | -36.98% |
Max Drawdown (1Y)Largest decline over 1 year | -99.22% | -23.87% | -75.35% |
Max Drawdown (3Y)Largest decline over 3 years | -99.86% | -28.21% | -71.65% |
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 | -99.84% | -10.68% | -89.16% |
Average DrawdownAverage peak-to-trough decline | -80.34% | -16.32% | -64.02% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 86.81% | 8.52% | +78.29% |
Volatility
3CON.L vs. DL2P.L - Volatility Comparison
Leverage Shares 3x Long Coinbase (COIN) ETP Securities GBP (3CON.L) has a higher volatility of 48.56% compared to L&G DAX Daily 2x Long UCITS ETF EUR (Acc) (DL2P.L) at 9.40%. This indicates that 3CON.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
| 3CON.L | DL2P.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 48.56% | 9.40% | +39.16% |
Volatility (6M)Calculated over the trailing 6-month period | 145.17% | 26.51% | +118.66% |
Volatility (1Y)Calculated over the trailing 1-year period | 200.84% | 31.14% | +169.70% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 1,453,861.28% | 33.70% | +1,453,827.58% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 1,453,861.28% | 35.50% | +1,453,825.78% |
3CON.L vs. DL2P.L - Expense Ratio Comparison
3CON.L has a 0.75% expense ratio, which is higher than DL2P.L's 0.40% expense ratio.
Dividends
3CON.L vs. DL2P.L - Dividend Comparison
Neither 3CON.L nor DL2P.L has paid dividends to shareholders.
Frequently Asked Questions
3CON.L and DL2P.L have a correlation of 0.40, 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 3CON.L.
3CON.L tracks iSTOXX Leveraged 3x COIN 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 3CON.L and 0.40% for DL2P.L.
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