DBPD.DE vs. DXS3.DE
DBPD.DE (Xtrackers ShortDAX x2 Daily Swap UCITS ETF (Acc)) and DXS3.DE (Xtrackers S&P 500 Inverse Daily Swap UCITS ETF (Acc)) are both Inverse Equities funds from Xtrackers - DBPD.DE tracks the ShortDAX Leverage (2x) Index while DXS3.DE tracks the S&P 500 Short Index. Both are passively managed. Over the past 10 years, DBPD.DE returned -24.22%/yr vs -12.32%/yr for DXS3.DE. A 0.64 correlation means they provide meaningful diversification when combined. DBPD.DE charges 0.60%/yr vs 0.50%/yr for DXS3.DE.
Performance
DBPD.DE vs. DXS3.DE - Performance Comparison
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Returns By Period
In the year-to-date period, DBPD.DE achieves a -11.42% return, which is significantly lower than DXS3.DE's -2.95% return. Over the past 10 years, DBPD.DE has underperformed DXS3.DE with an annualized return of -24.22%, while DXS3.DE has yielded a comparatively higher -12.32% 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%
DXS3.DE
- 1D
- 0.00%
- 1M
- 2.92%
- 6M
- -3.90%
- YTD
- -2.95%
- 1Y
- -8.70%
- 3Y*
- -11.94%
- 5Y*
- -6.72%
- 10Y*
- -12.32%
DBPD.DE vs. DXS3.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% |
DXS3.DE Xtrackers S&P 500 Inverse Daily Swap UCITS ETF (Acc) | -2.95% | -20.25% | -7.55% | -17.29% | 27.96% | -17.91% | -30.56% | -19.86% | 11.68% | -27.38% |
Correlation
The correlation between DBPD.DE and DXS3.DE is 0.58, 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 | 0.58 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.60 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.67 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.62 |
Correlation (All Time) Calculated using the full available price history since Mar 18, 2010 | 0.64 |
The correlation between DBPD.DE and DXS3.DE has been stable across timeframes, ranging from 0.58 to 0.67 - a consistent structural relationship.
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Return for Risk
DBPD.DE vs. DXS3.DE — Risk / Return Rank
DBPD.DE
DXS3.DE
DBPD.DE vs. DXS3.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 Inverse Daily Swap UCITS ETF (Acc) (DXS3.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 | DXS3.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.11 | ||
| Sortino ratioReturn per unit of downside risk | +0.22 | ||
| Omega ratioGain probability vs. loss probability | 0.94 | 0.92 | +0.03 |
| Calmar ratioReturn relative to maximum drawdown | -0.57 | -0.52 | -0.05 |
| Martin ratioReturn relative to average drawdown | -1.28 | -1.00 | -0.28 |
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Drawdowns
DBPD.DE vs. DXS3.DE - Drawdown Comparison
The maximum DBPD.DE drawdown since its inception was -99.15%, which is greater than DXS3.DE's maximum drawdown of -93.76%. Use the drawdown chart below to compare losses from any high point for DBPD.DE and DXS3.DE.
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Drawdown Indicators
| DBPD.DE | DXS3.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -99.15% | -93.76% | -5.39% |
Max Drawdown (1Y)Largest decline over 1 year | -26.16% | -16.67% | -9.49% |
Max Drawdown (3Y)Largest decline over 3 years | -65.57% | -42.14% | -23.43% |
Max Drawdown (5Y)Largest decline over 5 years | -76.93% | -51.28% | -25.65% |
Max Drawdown (10Y)Largest decline over 10 years | -93.94% | -74.13% | -19.81% |
Current DrawdownCurrent decline from peak | -99.15% | -93.52% | -5.63% |
Average DrawdownAverage peak-to-trough decline | -82.62% | -73.65% | -8.97% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 11.61% | 8.69% | +2.92% |
Volatility
DBPD.DE vs. DXS3.DE - Volatility Comparison
Xtrackers ShortDAX x2 Daily Swap UCITS ETF (Acc) (DBPD.DE) has a higher volatility of 8.90% compared to Xtrackers S&P 500 Inverse Daily Swap UCITS ETF (Acc) (DXS3.DE) at 4.92%. This indicates that DBPD.DE's price experiences larger fluctuations and is considered to be riskier than DXS3.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| DBPD.DE | DXS3.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 8.90% | 4.92% | +3.98% |
Volatility (6M)Calculated over the trailing 6-month period | 27.00% | 12.21% | +14.79% |
Volatility (1Y)Calculated over the trailing 1-year period | 32.27% | 15.19% | +17.08% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 34.36% | 19.99% | +14.37% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 36.24% | 19.20% | +17.04% |
DBPD.DE vs. DXS3.DE - Expense Ratio Comparison
DBPD.DE has a 0.60% expense ratio, which is higher than DXS3.DE's 0.50% expense ratio.
Dividends
DBPD.DE vs. DXS3.DE - Dividend Comparison
Neither DBPD.DE nor DXS3.DE has paid dividends to shareholders.
Frequently Asked Questions
DBPD.DE and DXS3.DE have a correlation of 0.58, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, DXS3.DE is cheaper at 0.50% per year. The better choice depends on whether you care most about return, fees, risk, or income.
DXS3.DE is cheaper with a 0.50% expense ratio, compared with 0.60% for DBPD.DE.
DBPD.DE tracks ShortDAX Leverage (2x) Index, while DXS3.DE tracks S&P 500 Short Index. Their fees differ too: 0.60% for DBPD.DE and 0.50% for DXS3.DE.
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