3TSL.L vs. DL2P.L
3TSL.L (Leverage Shares 3x Tesla ETP Securities GBX) and DL2P.L (L&G DAX Daily 2x Long UCITS ETF EUR (Acc)) are both Leveraged Equities funds - 3TSL.L tracks the iSTOXX Leveraged 3x TSLA Index while DL2P.L tracks the LevDAX x2 Index Gross TR EUR. Both are passively managed. Over the past 5 years, 3TSL.L returned 26.34%/yr vs 11.89%/yr for DL2P.L. At a 0.34 correlation, their price movements are largely independent. 3TSL.L charges 0.75%/yr vs 0.40%/yr for DL2P.L.
Performance
3TSL.L vs. DL2P.L - Performance Comparison
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Returns By Period
In the year-to-date period, 3TSL.L achieves a -56.10% return, which is significantly lower than DL2P.L's -4.46% return.
3TSL.L
- 1D
- -2.70%
- 1M
- -16.53%
- 6M
- -51.34%
- YTD
- -56.10%
- 1Y
- -12.54%
- 3Y*
- 127.80%
- 5Y*
- 26.34%
- 10Y*
- —
DL2P.L
- 1D
- -1.19%
- 1M
- -2.91%
- 6M
- -10.27%
- YTD
- -4.46%
- 1Y
- -3.89%
- 3Y*
- 22.64%
- 5Y*
- 11.89%
- 10Y*
- 12.87%
3TSL.L vs. DL2P.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
3TSL.L Leverage Shares 3x Tesla ETP Securities GBX | -56.10% | -71.66% | 25.48% | 51,227.74% | -98.76% | 39.38% |
DL2P.L L&G DAX Daily 2x Long UCITS ETF EUR (Acc) | -4.46% | 44.27% | 25.79% | 31.85% | -23.59% | 13.70% |
Correlation
The correlation between 3TSL.L and DL2P.L is 0.32, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.32 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.32 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.35 |
Correlation (All Time) Calculated using the full available price history since Mar 15, 2021 | 0.34 |
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Return for Risk
3TSL.L vs. DL2P.L — Risk / Return Rank
3TSL.L
DL2P.L
3TSL.L vs. DL2P.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Leverage Shares 3x Tesla ETP Securities GBX (3TSL.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.
| 3TSL.L | DL2P.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.03 | ||
| Sortino ratioReturn per unit of downside risk | +0.78 | ||
| Omega ratioGain probability vs. loss probability | 1.09 | 1.00 | +0.09 |
| Calmar ratioReturn relative to maximum drawdown | -0.17 | -0.16 | -0.01 |
| Martin ratioReturn relative to average drawdown | -0.30 | -0.46 | +0.15 |
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Drawdowns
3TSL.L vs. DL2P.L - Drawdown Comparison
The maximum 3TSL.L drawdown since its inception was -99.59%, 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 3TSL.L and DL2P.L.
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Drawdown Indicators
| 3TSL.L | DL2P.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -99.59% | -63.02% | -36.57% |
Max Drawdown (1Y)Largest decline over 1 year | -71.97% | -23.87% | -48.10% |
Max Drawdown (3Y)Largest decline over 3 years | -94.73% | -28.21% | -66.52% |
Max Drawdown (5Y)Largest decline over 5 years | -99.59% | -46.63% | -52.96% |
Max Drawdown (10Y)Largest decline over 10 years | — | -63.02% | — |
Current DrawdownCurrent decline from peak | -92.10% | -10.55% | -81.55% |
Average DrawdownAverage peak-to-trough decline | -75.28% | -16.32% | -58.96% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 41.12% | 8.50% | +32.62% |
Volatility
3TSL.L vs. DL2P.L - Volatility Comparison
Leverage Shares 3x Tesla ETP Securities GBX (3TSL.L) has a higher volatility of 47.95% compared to L&G DAX Daily 2x Long UCITS ETF EUR (Acc) (DL2P.L) at 9.47%. This indicates that 3TSL.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
| 3TSL.L | DL2P.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 47.95% | 9.47% | +38.48% |
Volatility (6M)Calculated over the trailing 6-month period | 90.97% | 26.53% | +64.44% |
Volatility (1Y)Calculated over the trailing 1-year period | 131.22% | 31.14% | +100.08% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 7,987.62% | 33.71% | +7,953.91% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 7,728.33% | 35.50% | +7,692.83% |
3TSL.L vs. DL2P.L - Expense Ratio Comparison
3TSL.L has a 0.75% expense ratio, which is higher than DL2P.L's 0.40% expense ratio.
Dividends
3TSL.L vs. DL2P.L - Dividend Comparison
Neither 3TSL.L nor DL2P.L has paid dividends to shareholders.
Frequently Asked Questions
3TSL.L and DL2P.L have a correlation of 0.32, 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 3TSL.L.
3TSL.L tracks iSTOXX Leveraged 3x TSLA 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 3TSL.L and 0.40% for DL2P.L.
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