5SPY.L vs. LUK2.L
5SPY.L (Leverage Shares 5x Long US 500 ETP Securities) and LUK2.L (L&G FTSE 100 Leveraged (Daily 2x) UCITS ETF GBP (Acc)) are both Leveraged Equities funds. 5SPY.L is actively managed, while LUK2.L is passively managed. Over the past 3 years, 5SPY.L returned 40.49%/yr vs 25.34%/yr for LUK2.L. A 0.53 correlation means they provide meaningful diversification when combined. 5SPY.L charges 0.75%/yr vs 0.50%/yr for LUK2.L.
Performance
5SPY.L vs. LUK2.L - Performance Comparison
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Different Trading Currencies
5SPY.L is traded in USD, while LUK2.L is traded in GBp. To make them comparable, the LUK2.L values have been converted to USD using the latest available exchange rates.
Returns By Period
In the year-to-date period, 5SPY.L achieves a 20.17% return, which is significantly higher than LUK2.L's 12.79% return.
5SPY.L
- 1D
- -5.63%
- 1M
- -6.35%
- 6M
- 15.79%
- YTD
- 20.17%
- 1Y
- 56.56%
- 3Y*
- 40.49%
- 5Y*
- —
- 10Y*
- —
LUK2.L
- 1D
- 0.46%
- 1M
- 2.55%
- 6M
- 7.10%
- YTD
- 12.79%
- 1Y
- 36.40%
- 3Y*
- 25.34%
- 5Y*
- 16.78%
- 10Y*
- 10.80%
5SPY.L vs. LUK2.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
5SPY.L Leverage Shares 5x Long US 500 ETP Securities | 20.17% | 1.52% | 98.06% | 100.80% | -80.81% | 13.40% |
LUK2.L L&G FTSE 100 Leveraged (Daily 2x) UCITS ETF GBP (Acc) | 12.79% | 54.57% | 7.98% | 12.21% | -7.34% | 6.42% |
Correlation
The correlation between 5SPY.L and LUK2.L is 0.49, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.49 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.47 |
Correlation (All Time) Calculated using the full available price history since Dec 14, 2021 | 0.53 |
The correlation between 5SPY.L and LUK2.L has been stable across timeframes, ranging from 0.47 to 0.53 - a consistent structural relationship.
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Return for Risk
5SPY.L vs. LUK2.L — Risk / Return Rank
5SPY.L
LUK2.L
5SPY.L vs. LUK2.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Leverage Shares 5x Long US 500 ETP Securities (5SPY.L) and L&G FTSE 100 Leveraged (Daily 2x) UCITS ETF GBP (Acc) (LUK2.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.
| 5SPY.L | LUK2.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.52 | ||
| Sortino ratioReturn per unit of downside risk | -0.45 | ||
| Omega ratioGain probability vs. loss probability | 1.19 | 1.27 | -0.08 |
| Calmar ratioReturn relative to maximum drawdown | 1.32 | 1.92 | -0.60 |
| Martin ratioReturn relative to average drawdown | 4.24 | 5.46 | -1.22 |
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Drawdowns
5SPY.L vs. LUK2.L - Drawdown Comparison
The maximum 5SPY.L drawdown since its inception was -82.86%, which is greater than LUK2.L's maximum drawdown of -64.37%. Use the drawdown chart below to compare losses from any high point for 5SPY.L and LUK2.L.
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Drawdown Indicators
| 5SPY.L | LUK2.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -82.86% | -64.37% | -18.49% |
Max Drawdown (1Y)Largest decline over 1 year | -42.76% | -18.89% | -23.87% |
Max Drawdown (3Y)Largest decline over 3 years | -72.55% | -25.12% | -47.43% |
Max Drawdown (5Y)Largest decline over 5 years | — | -34.17% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -64.37% | — |
Current DrawdownCurrent decline from peak | -13.72% | -6.38% | -7.34% |
Average DrawdownAverage peak-to-trough decline | -48.75% | -13.04% | -35.71% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 13.29% | 6.65% | +6.64% |
Volatility
5SPY.L vs. LUK2.L - Volatility Comparison
Leverage Shares 5x Long US 500 ETP Securities (5SPY.L) has a higher volatility of 14.84% compared to L&G FTSE 100 Leveraged (Daily 2x) UCITS ETF GBP (Acc) (LUK2.L) at 5.99%. This indicates that 5SPY.L's price experiences larger fluctuations and is considered to be riskier than LUK2.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| 5SPY.L | LUK2.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 14.84% | 5.99% | +8.85% |
Volatility (6M)Calculated over the trailing 6-month period | 44.01% | 20.97% | +23.04% |
Volatility (1Y)Calculated over the trailing 1-year period | 57.89% | 24.17% | +33.72% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 78.85% | 28.28% | +50.57% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 78.85% | 31.33% | +47.52% |
5SPY.L vs. LUK2.L - Expense Ratio Comparison
5SPY.L has a 0.75% expense ratio, which is higher than LUK2.L's 0.50% expense ratio.
Dividends
5SPY.L vs. LUK2.L - Dividend Comparison
Neither 5SPY.L nor LUK2.L has paid dividends to shareholders.
Frequently Asked Questions
5SPY.L and LUK2.L have a correlation of 0.49, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, LUK2.L is cheaper at 0.50% per year. The better choice depends on whether you care most about return, fees, risk, or income.
LUK2.L is cheaper with a 0.50% expense ratio, compared with 0.75% for 5SPY.L.
They also come from different issuers: Leverage Shares and L&G. Their fees differ too: 0.75% for 5SPY.L and 0.50% for LUK2.L.
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