AMD3.L vs. DS2P.L
AMD3.L (Leverage Shares 3x AMD ETP Securities) and DS2P.L (L&G DAX Daily 2x Short UCITS ETF EUR (Acc)) are both Leveraged Equities funds - AMD3.L tracks the iSTOXX Leveraged 3x AMD Index while DS2P.L tracks the ShortDAX x2 Index Gross TR EUR. Both are passively managed. Over the past 5 years, AMD3.L returned 0.91%/yr vs -20.69%/yr for DS2P.L. At a correlation of -0.39, they often move in opposite directions. AMD3.L charges 0.75%/yr vs 0.50%/yr for DS2P.L.
Performance
AMD3.L vs. DS2P.L - Performance Comparison
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Different Trading Currencies
AMD3.L is traded in USD, while DS2P.L is traded in GBp. To make them comparable, the DS2P.L values have been converted to USD using the latest available exchange rates.
Returns By Period
In the year-to-date period, AMD3.L achieves a 451.20% return, which is significantly higher than DS2P.L's -12.02% return.
AMD3.L
- 1D
- -21.88%
- 1M
- -25.99%
- 6M
- 406.62%
- YTD
- 451.20%
- 1Y
- 732.13%
- 3Y*
- 49.07%
- 5Y*
- 0.91%
- 10Y*
- —
DS2P.L
- 1D
- 0.00%
- 1M
- -1.60%
- 6M
- -1.80%
- YTD
- -12.02%
- 1Y
- -10.43%
- 3Y*
- -24.05%
- 5Y*
- -20.69%
- 10Y*
- -23.19%
AMD3.L vs. DS2P.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
AMD3.L Leverage Shares 3x AMD ETP Securities | 451.20% | 65.08% | -76.77% | 466.90% | -97.49% | 358.41% |
DS2P.L L&G DAX Daily 2x Short UCITS ETF EUR (Acc) | -12.02% | -24.37% | -29.54% | -26.02% | 1.59% | -15.61% |
Correlation
The correlation between AMD3.L and DS2P.L is -0.41, 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 | -0.41 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.38 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.40 |
Correlation (All Time) Calculated using the full available price history since May 24, 2021 | -0.39 |
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Return for Risk
AMD3.L vs. DS2P.L — Risk / Return Rank
AMD3.L
DS2P.L
AMD3.L vs. DS2P.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Leverage Shares 3x AMD ETP Securities (AMD3.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.
| AMD3.L | DS2P.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +3.92 | ||
| Sortino ratioReturn per unit of downside risk | +3.80 | ||
| Omega ratioGain probability vs. loss probability | 1.44 | 0.97 | +0.47 |
| Calmar ratioReturn relative to maximum drawdown | 9.52 | -0.40 | +9.93 |
| Martin ratioReturn relative to average drawdown | 17.48 | -0.88 | +18.36 |
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Drawdowns
AMD3.L vs. DS2P.L - Drawdown Comparison
The maximum AMD3.L drawdown since its inception was -99.50%, roughly equal to the maximum DS2P.L drawdown of -99.69%. Use the drawdown chart below to compare losses from any high point for AMD3.L and DS2P.L.
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Drawdown Indicators
| AMD3.L | DS2P.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -99.50% | -99.69% | +0.19% |
Max Drawdown (1Y)Largest decline over 1 year | -76.15% | -26.76% | -49.39% |
Max Drawdown (3Y)Largest decline over 3 years | -97.84% | -64.94% | -32.90% |
Max Drawdown (5Y)Largest decline over 5 years | -99.50% | -76.19% | -23.31% |
Max Drawdown (10Y)Largest decline over 10 years | — | -93.40% | — |
Current DrawdownCurrent decline from peak | -79.06% | -99.67% | +20.61% |
Average DrawdownAverage peak-to-trough decline | -83.26% | -89.77% | +6.51% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 41.56% | 12.31% | +29.25% |
Volatility
AMD3.L vs. DS2P.L - Volatility Comparison
Leverage Shares 3x AMD ETP Securities (AMD3.L) has a higher volatility of 68.25% compared to L&G DAX Daily 2x Short UCITS ETF EUR (Acc) (DS2P.L) at 9.39%. This indicates that AMD3.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
| AMD3.L | DS2P.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 68.25% | 9.39% | +58.86% |
Volatility (6M)Calculated over the trailing 6-month period | 154.68% | 27.30% | +127.38% |
Volatility (1Y)Calculated over the trailing 1-year period | 202.27% | 33.47% | +168.80% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 160.18% | 34.81% | +125.37% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 158.41% | 37.18% | +121.23% |
AMD3.L vs. DS2P.L - Expense Ratio Comparison
AMD3.L has a 0.75% expense ratio, which is higher than DS2P.L's 0.50% expense ratio.
Dividends
AMD3.L vs. DS2P.L - Dividend Comparison
Neither AMD3.L nor DS2P.L has paid dividends to shareholders.
Frequently Asked Questions
AMD3.L and DS2P.L have a correlation of -0.41, 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 0.75% for AMD3.L.
AMD3.L tracks iSTOXX Leveraged 3x AMD Index, while DS2P.L tracks ShortDAX x2 Index Gross TR EUR. They also come from different issuers: Leverage Shares and L&G. Their fees differ too: 0.75% for AMD3.L and 0.50% for DS2P.L.
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