DBPD.DE vs. DBPK.DE

Last updated Jul 4, 2026

DBPD.DE (Xtrackers ShortDAX x2 Daily Swap UCITS ETF (Acc)) and DBPK.DE (Xtrackers S&P 500 2x Inverse Daily Swap UCITS ETF (Acc)) are both Inverse Equities funds from Xtrackers - DBPD.DE tracks the ShortDAX Leverage (2x) Index while DBPK.DE tracks the S&P 500 Short Leverage (-2x) Index. Both are passively managed. Over the past 10 years, DBPD.DE returned -24.22%/yr vs -27.15%/yr for DBPK.DE. A 0.69 correlation means they provide meaningful diversification when combined. DBPD.DE charges 0.60%/yr vs 0.70%/yr for DBPK.DE.

Performance

DBPD.DE vs. DBPK.DE - Performance Comparison

The chart below illustrates the hypothetical performance of a €10,000 investment in Xtrackers ShortDAX x2 Daily Swap UCITS ETF (Acc) (DBPD.DE) and Xtrackers S&P 500 2x Inverse Daily Swap UCITS ETF (Acc) (DBPK.DE). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both investments are quite close, with DBPD.DE having a -11.42% return and DBPK.DE slightly higher at -11.09%. Over the past 10 years, DBPD.DE has outperformed DBPK.DE with an annualized return of -24.22%, while DBPK.DE has yielded a comparatively lower -27.15% annualized return.

DBPD.DE

• 1D: -1.45%
• 1M: -7.46%
• 6M: -11.30%
• YTD: -11.42%
• 1Y: -14.87%
• 3Y*: -25.37%
• 5Y*: -20.25%
• 10Y*: -24.22%

DBPK.DE

• 1D: -0.07%
• 1M: 3.67%
• 6M: -12.79%
• YTD: -11.09%
• 1Y: -23.56%
• 3Y*: -26.50%
• 5Y*: -19.09%
• 10Y*: -27.15%

*Multi-year figures are annualized to reflect compound growth (CAGR)

DBPD.DE vs. DBPK.DE - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
DBPD.DE Xtrackers ShortDAX x2 Daily Swap UCITS ETF (Acc)	-11.42%	-35.14%	-23.51%	-28.08%	9.77%	-31.09%	-33.90%	-40.89%	36.84%	-25.87%
DBPK.DE Xtrackers S&P 500 2x Inverse Daily Swap UCITS ETF (Acc)	-11.09%	-34.12%	-24.20%	-33.54%	42.87%	-39.02%	-53.09%	-40.00%	12.72%	-40.55%

Correlation

The correlation between DBPD.DE and DBPK.DE is 0.64, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.64
Correlation (3Y) Calculated over the trailing 3-year period	0.63
Correlation (5Y) Calculated over the trailing 5-year period	0.70
Correlation (10Y) Calculated over the trailing 10-year period	0.68
Correlation (All Time) Calculated using the full available price history since Mar 18, 2010	0.69

The correlation between DBPD.DE and DBPK.DE has been stable across timeframes, ranging from 0.63 to 0.70 - a consistent structural relationship.

Return for Risk

DBPD.DE vs. DBPK.DE — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

DBPD.DE

DBPD.DE Risk / Return Rank: 5
DBPD.DE Sharpe Ratio Rank: 5
DBPD.DE Sortino Ratio Rank: 5
DBPD.DE Omega Ratio Rank: 5
DBPD.DE Calmar Ratio Rank: 5
DBPD.DE Martin Ratio Rank: 3

DBPK.DE

DBPK.DE Risk / Return Rank: 2
DBPK.DE Sharpe Ratio Rank: 2
DBPK.DE Sortino Ratio Rank: 3
DBPK.DE Omega Ratio Rank: 3
DBPK.DE Calmar Ratio Rank: 3
DBPK.DE Martin Ratio Rank: 2

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

DBPD.DE vs. DBPK.DE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Xtrackers ShortDAX x2 Daily Swap UCITS ETF (Acc) (DBPD.DE) and Xtrackers S&P 500 2x Inverse Daily Swap UCITS ETF (Acc) (DBPK.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.

	DBPD.DE	DBPK.DE	Difference
Sharpe ratio: Return per unit of total volatility	-0.46	-0.89	+0.43
Sortino ratio: Return per unit of downside risk	-0.46	-1.14	+0.68
Omega ratio: Gain probability vs. loss probability	0.94	0.87	+0.08
Calmar ratio: Return relative to maximum drawdown	-0.57	-0.78	+0.21
Martin ratio: Return relative to average drawdown	-1.28	-1.42	+0.14

DBPD.DE vs. DBPK.DE - Sharpe Ratio Comparison

The current DBPD.DE Sharpe Ratio is -0.46, which is higher than the DBPK.DE Sharpe Ratio of -0.89. The chart below compares the historical Sharpe Ratios of DBPD.DE and DBPK.DE, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

DBPD.DE vs. DBPK.DE - Drawdown Comparison

The maximum DBPD.DE drawdown since its inception was -99.15%, roughly equal to the maximum DBPK.DE drawdown of -99.58%. Use the drawdown chart below to compare losses from any high point for DBPD.DE and DBPK.DE.

Drawdown Indicators

	DBPD.DE	DBPK.DE	Difference
Max Drawdown Largest peak-to-trough decline	-99.15%	-99.58%	+0.43%
Max Drawdown (1Y) Largest decline over 1 year	-26.16%	-30.27%	+4.11%
Max Drawdown (3Y) Largest decline over 3 years	-65.57%	-69.12%	+3.55%
Max Drawdown (5Y) Largest decline over 5 years	-76.93%	-77.98%	+1.05%
Max Drawdown (10Y) Largest decline over 10 years	-93.94%	-95.99%	+2.05%
Current Drawdown Current decline from peak	-99.15%	-99.56%	+0.41%
Average Drawdown Average peak-to-trough decline	-82.62%	-86.93%	+4.31%
Ulcer Index Depth and duration of drawdowns from previous peaks	11.61%	16.61%	-5.00%

Volatility

DBPD.DE vs. DBPK.DE - Volatility Comparison

Xtrackers ShortDAX x2 Daily Swap UCITS ETF (Acc) (DBPD.DE) and Xtrackers S&P 500 2x Inverse Daily Swap UCITS ETF (Acc) (DBPK.DE) have volatilities of 8.90% and 8.83%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	DBPD.DE	DBPK.DE	Difference
Volatility (1M) Calculated over the trailing 1-month period	8.90%	8.83%	+0.07%
Volatility (6M) Calculated over the trailing 6-month period	27.00%	21.00%	+6.00%
Volatility (1Y) Calculated over the trailing 1-year period	32.27%	26.58%	+5.69%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	34.36%	35.45%	-1.09%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	36.24%	34.85%	+1.39%

DBPD.DE vs. DBPK.DE - Expense Ratio Comparison

DBPD.DE has a 0.60% expense ratio, which is lower than DBPK.DE's 0.70% expense ratio.

Dividends

DBPD.DE vs. DBPK.DE - Dividend Comparison

Neither DBPD.DE nor DBPK.DE has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both DBPD.DE and DBPK.DE in my portfolio?

DBPD.DE and DBPK.DE have a correlation of 0.64, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, DBPD.DE or DBPK.DE?

On fees, DBPD.DE is cheaper at 0.60% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, DBPD.DE or DBPK.DE?

DBPD.DE is cheaper with a 0.60% expense ratio, compared with 0.70% for DBPK.DE.

What is the main difference between DBPD.DE and DBPK.DE?

DBPD.DE tracks ShortDAX Leverage (2x) Index, while DBPK.DE tracks S&P 500 Short Leverage (-2x) Index. Their fees differ too: 0.60% for DBPD.DE and 0.70% for DBPK.DE.