3DAX.DE vs. DBPE.DE
3DAX.DE (Leverage Shares 3x Long Germany 40 ETP Securities) and DBPE.DE (Xtrackers LevDAX Daily Swap UCITS ETF (Acc)) are both Leveraged Equities funds. 3DAX.DE is actively managed, while DBPE.DE is passively managed. Over the past 3 years, 3DAX.DE returned 21.97%/yr vs 24.42%/yr for DBPE.DE. With a 0.98 correlation, they move nearly in lockstep. 3DAX.DE charges 0.75%/yr vs 0.35%/yr for DBPE.DE.
Performance
3DAX.DE vs. DBPE.DE - Performance Comparison
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Returns By Period
In the year-to-date period, 3DAX.DE achieves a -8.10% return, which is significantly lower than DBPE.DE's -1.40% return.
3DAX.DE
- 1D
- 0.00%
- 1M
- -1.83%
- 6M
- -15.95%
- YTD
- -8.10%
- 1Y
- -15.00%
- 3Y*
- 21.97%
- 5Y*
- —
- 10Y*
- —
DBPE.DE
- 1D
- -0.70%
- 1M
- -1.47%
- 6M
- -7.12%
- YTD
- -1.40%
- 1Y
- -2.63%
- 3Y*
- 24.42%
- 5Y*
- 13.08%
- 10Y*
- 13.59%
3DAX.DE vs. DBPE.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
3DAX.DE Leverage Shares 3x Long Germany 40 ETP Securities | -8.10% | 42.11% | 35.80% | 43.45% | 10.85% |
DBPE.DE Xtrackers LevDAX Daily Swap UCITS ETF (Acc) | -1.40% | 41.17% | 32.06% | 35.78% | 6.16% |
Correlation
The correlation between 3DAX.DE and DBPE.DE is 0.98 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.98 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.98 |
Correlation (All Time) Calculated using the full available price history since Sep 13, 2022 | 0.98 |
The correlation between 3DAX.DE and DBPE.DE has been stable across timeframes, ranging from 0.98 to 0.98 - a consistent structural relationship.
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Return for Risk
3DAX.DE vs. DBPE.DE — Risk / Return Rank
3DAX.DE
DBPE.DE
3DAX.DE vs. DBPE.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Leverage Shares 3x Long Germany 40 ETP Securities (3DAX.DE) and Xtrackers LevDAX Daily Swap UCITS ETF (Acc) (DBPE.DE). 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.
| 3DAX.DE | DBPE.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.23 | ||
| Sortino ratioReturn per unit of downside risk | -0.25 | ||
| Omega ratioGain probability vs. loss probability | 0.98 | 1.01 | -0.03 |
| Calmar ratioReturn relative to maximum drawdown | -0.42 | -0.11 | -0.31 |
| Martin ratioReturn relative to average drawdown | -1.04 | -0.31 | -0.73 |
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Drawdowns
3DAX.DE vs. DBPE.DE - Drawdown Comparison
The maximum 3DAX.DE drawdown since its inception was -42.58%, smaller than the maximum DBPE.DE drawdown of -64.87%. Use the drawdown chart below to compare losses from any high point for 3DAX.DE and DBPE.DE.
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Drawdown Indicators
| 3DAX.DE | DBPE.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -42.58% | -64.87% | +22.29% |
Max Drawdown (1Y)Largest decline over 1 year | -35.67% | -24.16% | -11.51% |
Max Drawdown (3Y)Largest decline over 3 years | -42.58% | -29.95% | -12.63% |
Max Drawdown (5Y)Largest decline over 5 years | — | -48.69% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -64.87% | — |
Current DrawdownCurrent decline from peak | -17.45% | -8.10% | -9.35% |
Average DrawdownAverage peak-to-trough decline | -9.48% | -16.46% | +6.98% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 14.64% | 8.42% | +6.22% |
Volatility
3DAX.DE vs. DBPE.DE - Volatility Comparison
Leverage Shares 3x Long Germany 40 ETP Securities (3DAX.DE) has a higher volatility of 14.02% compared to Xtrackers LevDAX Daily Swap UCITS ETF (Acc) (DBPE.DE) at 9.24%. This indicates that 3DAX.DE's price experiences larger fluctuations and is considered to be riskier than DBPE.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| 3DAX.DE | DBPE.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 14.02% | 9.24% | +4.78% |
Volatility (6M)Calculated over the trailing 6-month period | 40.52% | 26.93% | +13.59% |
Volatility (1Y)Calculated over the trailing 1-year period | 48.44% | 32.30% | +16.14% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 46.72% | 34.29% | +12.43% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 46.72% | 36.13% | +10.59% |
3DAX.DE vs. DBPE.DE - Expense Ratio Comparison
3DAX.DE has a 0.75% expense ratio, which is higher than DBPE.DE's 0.35% expense ratio.
Dividends
3DAX.DE vs. DBPE.DE - Dividend Comparison
Neither 3DAX.DE nor DBPE.DE has paid dividends to shareholders.
Frequently Asked Questions
With a correlation of 0.98, 3DAX.DE and DBPE.DE move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.
On fees, DBPE.DE is cheaper at 0.35% per year. The better choice depends on whether you care most about return, fees, risk, or income.
DBPE.DE is cheaper with a 0.35% expense ratio, compared with 0.75% for 3DAX.DE.
They also come from different issuers: Leverage Shares and Xtrackers. Their fees differ too: 0.75% for 3DAX.DE and 0.35% for DBPE.DE.
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