DBPD.DE vs. DES2.DE
DBPD.DE (Xtrackers ShortDAX x2 Daily Swap UCITS ETF (Acc)) and DES2.DE (L&G DAX Daily 2x Short UCITS ETF) are both Inverse Equities funds - DBPD.DE tracks the ShortDAX Leverage (2x) Index while DES2.DE tracks the ShortDAX x2 Index. Both are passively managed. Over the past 10 years, DBPD.DE returned -22.88%/yr vs -23.54%/yr for DES2.DE. With a 0.99 correlation, they move nearly in lockstep. DBPD.DE charges 0.60%/yr vs 0.50%/yr for DES2.DE.
Performance
DBPD.DE vs. DES2.DE - Performance Comparison
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Returns By Period
In the year-to-date period, DBPD.DE achieves a -4.38% return, which is significantly higher than DES2.DE's -5.08% return. Both investments have delivered pretty close results over the past 10 years, with DBPD.DE having a -22.88% annualized return and DES2.DE not far behind at -23.54%.
DBPD.DE
- 1D
- 0.73%
- 1M
- 0.95%
- 6M
- 1.49%
- YTD
- -4.38%
- 1Y
- -4.76%
- 3Y*
- -23.21%
- 5Y*
- -19.24%
- 10Y*
- -22.88%
DES2.DE
- 1D
- 0.69%
- 1M
- 1.00%
- 6M
- 0.85%
- YTD
- -5.08%
- 1Y
- -6.12%
- 3Y*
- -24.13%
- 5Y*
- -19.98%
- 10Y*
- -23.54%
DBPD.DE vs. DES2.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) | -4.38% | -35.14% | -23.51% | -28.08% | 9.77% | -31.09% | -33.90% | -40.89% | 36.84% | -25.87% |
DES2.DE L&G DAX Daily 2x Short UCITS ETF | -5.08% | -35.92% | -24.73% | -28.32% | 8.81% | -31.47% | -34.46% | -41.49% | 35.04% | -25.95% |
Correlation
The correlation between DBPD.DE and DES2.DE is 1.00 - 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 | 1.00 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.98 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.98 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.99 |
Correlation (All Time) Calculated using the full available price history since Mar 18, 2010 | 0.99 |
The correlation between DBPD.DE and DES2.DE has been stable across timeframes, ranging from 0.98 to 1.00 - a consistent structural relationship.
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Return for Risk
DBPD.DE vs. DES2.DE — Risk / Return Rank
DBPD.DE
DES2.DE
DBPD.DE vs. DES2.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 L&G DAX Daily 2x Short UCITS ETF (DES2.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 | DES2.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.04 | ||
| Sortino ratioReturn per unit of downside risk | +0.06 | ||
| Omega ratioGain probability vs. loss probability | 1.00 | 0.99 | +0.01 |
| Calmar ratioReturn relative to maximum drawdown | -0.18 | -0.23 | +0.05 |
| Martin ratioReturn relative to average drawdown | -0.38 | -0.49 | +0.11 |
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Drawdowns
DBPD.DE vs. DES2.DE - Drawdown Comparison
The maximum DBPD.DE drawdown since its inception was -99.15%, roughly equal to the maximum DES2.DE drawdown of -99.34%. Use the drawdown chart below to compare losses from any high point for DBPD.DE and DES2.DE.
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Drawdown Indicators
| DBPD.DE | DES2.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -99.15% | -99.34% | +0.19% |
Max Drawdown (1Y)Largest decline over 1 year | -26.26% | -26.29% | +0.03% |
Max Drawdown (3Y)Largest decline over 3 years | -65.61% | -66.97% | +1.36% |
Max Drawdown (5Y)Largest decline over 5 years | -76.96% | -77.94% | +0.98% |
Max Drawdown (10Y)Largest decline over 10 years | -92.89% | -93.47% | +0.58% |
Current DrawdownCurrent decline from peak | -99.08% | -99.29% | +0.21% |
Average DrawdownAverage peak-to-trough decline | -82.66% | -83.30% | +0.64% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 12.43% | 12.50% | -0.07% |
Volatility
DBPD.DE vs. DES2.DE - Volatility Comparison
Xtrackers ShortDAX x2 Daily Swap UCITS ETF (Acc) (DBPD.DE) and L&G DAX Daily 2x Short UCITS ETF (DES2.DE) have volatilities of 9.36% and 9.19%, 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.
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Volatility by Period
| DBPD.DE | DES2.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 9.36% | 9.19% | +0.17% |
Volatility (6M)Calculated over the trailing 6-month period | 27.34% | 27.27% | +0.07% |
Volatility (1Y)Calculated over the trailing 1-year period | 32.43% | 32.34% | +0.09% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 34.33% | 34.53% | -0.20% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 36.18% | 36.31% | -0.13% |
DBPD.DE vs. DES2.DE - Expense Ratio Comparison
DBPD.DE has a 0.60% expense ratio, which is higher than DES2.DE's 0.50% expense ratio.
Dividends
DBPD.DE vs. DES2.DE - Dividend Comparison
Neither DBPD.DE nor DES2.DE has paid dividends to shareholders.
Frequently Asked Questions
With a correlation of 1.00, DBPD.DE and DES2.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, DES2.DE is cheaper at 0.50% per year. The better choice depends on whether you care most about return, fees, risk, or income.
DES2.DE is cheaper with a 0.50% expense ratio, compared with 0.60% for DBPD.DE.
DBPD.DE tracks ShortDAX Leverage (2x) Index, while DES2.DE tracks ShortDAX x2 Index. They also come from different issuers: Xtrackers and L&G. Their fees differ too: 0.60% for DBPD.DE and 0.50% for DES2.DE.
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