DEL2.L vs. 3SPY.L
DEL2.L (L&G DAX Daily 2x Long UCITS ETF EUR (Acc)) and 3SPY.L (Leverage Shares 3x Long US 500 ETP Securities) are both Leveraged Equities funds. DEL2.L is passively managed, while 3SPY.L is actively managed. Over the past 3 years, DEL2.L returned 23.36%/yr vs 35.67%/yr for 3SPY.L. A 0.62 correlation means they provide meaningful diversification when combined. DEL2.L charges 0.40%/yr vs 0.01%/yr for 3SPY.L.
Performance
DEL2.L vs. 3SPY.L - Performance Comparison
Loading charts...
Different Trading Currencies
DEL2.L is traded in EUR, while 3SPY.L is traded in USD. To make them comparable, the 3SPY.L values have been converted to EUR using the latest available exchange rates.
Returns By Period
In the year-to-date period, DEL2.L achieves a -1.16% return, which is significantly lower than 3SPY.L's 24.29% return.
DEL2.L
- 1D
- -0.71%
- 1M
- -0.49%
- 6M
- -7.41%
- YTD
- -1.16%
- 1Y
- -1.14%
- 3Y*
- 23.36%
- 5Y*
- 12.22%
- 10Y*
- 12.72%
3SPY.L
- 1D
- 0.00%
- 1M
- 0.05%
- 6M
- 22.36%
- YTD
- 24.29%
- 1Y
- 48.99%
- 3Y*
- 35.67%
- 5Y*
- —
- 10Y*
- —
DEL2.L vs. 3SPY.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
DEL2.L L&G DAX Daily 2x Long UCITS ETF EUR (Acc) | -1.16% | 37.26% | 31.65% | 34.68% | -8.88% |
3SPY.L Leverage Shares 3x Long US 500 ETP Securities | 24.29% | -0.95% | 74.55% | 53.49% | -41.55% |
Correlation
The correlation between DEL2.L and 3SPY.L is 0.61, 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 | 0.61 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.58 |
Correlation (All Time) Calculated using the full available price history since Jun 6, 2022 | 0.62 |
The correlation between DEL2.L and 3SPY.L has been stable across timeframes, ranging from 0.58 to 0.62 - a consistent structural relationship.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
DEL2.L vs. 3SPY.L — Risk / Return Rank
DEL2.L
3SPY.L
DEL2.L vs. 3SPY.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for L&G DAX Daily 2x Long UCITS ETF EUR (Acc) (DEL2.L) and Leverage Shares 3x Long US 500 ETP Securities (3SPY.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.
| DEL2.L | 3SPY.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.91 | ||
| Sortino ratioReturn per unit of downside risk | -1.48 | ||
| Omega ratioGain probability vs. loss probability | 1.02 | 1.27 | -0.24 |
| Calmar ratioReturn relative to maximum drawdown | -0.04 | 1.20 | -1.24 |
| Martin ratioReturn relative to average drawdown | -0.13 | 2.37 | -2.50 |
Loading charts...
Drawdowns
DEL2.L vs. 3SPY.L - Drawdown Comparison
The maximum DEL2.L drawdown since its inception was -64.67%, which is greater than 3SPY.L's maximum drawdown of -58.69%. Use the drawdown chart below to compare losses from any high point for DEL2.L and 3SPY.L.
Loading charts...
Drawdown Indicators
| DEL2.L | 3SPY.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -64.67% | -58.69% | -5.98% |
Max Drawdown (1Y)Largest decline over 1 year | -26.77% | -40.75% | +13.98% |
Max Drawdown (3Y)Largest decline over 3 years | -30.23% | -58.69% | +28.46% |
Max Drawdown (5Y)Largest decline over 5 years | -49.13% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -64.67% | — | — |
Current DrawdownCurrent decline from peak | -8.15% | -8.06% | -0.09% |
Average DrawdownAverage peak-to-trough decline | -16.34% | -20.92% | +4.58% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 8.68% | 20.67% | -11.99% |
Volatility
DEL2.L vs. 3SPY.L - Volatility Comparison
L&G DAX Daily 2x Long UCITS ETF EUR (Acc) (DEL2.L) has a higher volatility of 9.31% compared to Leverage Shares 3x Long US 500 ETP Securities (3SPY.L) at 8.30%. This indicates that DEL2.L's price experiences larger fluctuations and is considered to be riskier than 3SPY.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| DEL2.L | 3SPY.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 9.31% | 8.30% | +1.01% |
Volatility (6M)Calculated over the trailing 6-month period | 27.88% | 25.86% | +2.02% |
Volatility (1Y)Calculated over the trailing 1-year period | 33.04% | 55.73% | -22.69% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 34.41% | 51.32% | -16.91% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 36.20% | 51.32% | -15.12% |
DEL2.L vs. 3SPY.L - Expense Ratio Comparison
DEL2.L has a 0.40% expense ratio, which is higher than 3SPY.L's 0.01% expense ratio.
Dividends
DEL2.L vs. 3SPY.L - Dividend Comparison
Neither DEL2.L nor 3SPY.L has paid dividends to shareholders.
Frequently Asked Questions
DEL2.L and 3SPY.L have a correlation of 0.61, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, 3SPY.L is cheaper at 0.01% per year. The better choice depends on whether you care most about return, fees, risk, or income.
3SPY.L is cheaper with a 0.01% expense ratio, compared with 0.40% for DEL2.L.
They also come from different issuers: L&G and Leverage Shares. Their fees differ too: 0.40% for DEL2.L and 0.01% for 3SPY.L.
Find the right allocation for DEL2.L and 3SPY.L
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer