DEL2.L vs. 3USL.L
DEL2.L (L&G DAX Daily 2x Long UCITS ETF EUR (Acc)) and 3USL.L (WisdomTree S&P 500 3x Daily Leveraged GB) are both Leveraged Equities funds - DEL2.L tracks the LevDAX x2 Index Gross TR EUR while 3USL.L tracks the S&P 500 Net Total Returns Index. Both are passively managed. Over the past 10 years, DEL2.L returned 12.72%/yr vs 26.93%/yr for 3USL.L. A 0.71 correlation means they provide meaningful diversification when combined. DEL2.L charges 0.40%/yr vs 0.75%/yr for 3USL.L.
Performance
DEL2.L vs. 3USL.L - Performance Comparison
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Different Trading Currencies
DEL2.L is traded in EUR, while 3USL.L is traded in USD. To make them comparable, the 3USL.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 3USL.L's 25.52% return. Over the past 10 years, DEL2.L has underperformed 3USL.L with an annualized return of 12.72%, while 3USL.L has yielded a comparatively higher 26.93% annualized 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%
3USL.L
- 1D
- 0.17%
- 1M
- -0.10%
- 6M
- 23.44%
- YTD
- 25.52%
- 1Y
- 54.81%
- 3Y*
- 41.58%
- 5Y*
- 20.44%
- 10Y*
- 26.93%
DEL2.L vs. 3USL.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
DEL2.L L&G DAX Daily 2x Long UCITS ETF EUR (Acc) | -1.16% | 37.26% | 31.65% | 34.68% | -27.71% | 30.03% | -4.00% | 46.12% | -35.64% | 27.78% |
3USL.L WisdomTree S&P 500 3x Daily Leveraged GB | 25.52% | 13.67% | 74.81% | 65.39% | -54.70% | 116.87% | -1.00% | 102.42% | -22.76% | 46.35% |
Correlation
The correlation between DEL2.L and 3USL.L is 0.66, 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 | 0.66 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.63 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.69 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.72 |
Correlation (All Time) Calculated using the full available price history since Dec 13, 2012 | 0.71 |
The correlation between DEL2.L and 3USL.L has been stable across timeframes, ranging from 0.63 to 0.72 - a consistent structural relationship.
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Return for Risk
DEL2.L vs. 3USL.L — Risk / Return Rank
DEL2.L
3USL.L
DEL2.L vs. 3USL.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 WisdomTree S&P 500 3x Daily Leveraged GB (3USL.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 | 3USL.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.57 | ||
| Sortino ratioReturn per unit of downside risk | -2.00 | ||
| Omega ratioGain probability vs. loss probability | 1.02 | 1.27 | -0.24 |
| Calmar ratioReturn relative to maximum drawdown | -0.04 | 2.25 | -2.29 |
| Martin ratioReturn relative to average drawdown | -0.13 | 8.17 | -8.30 |
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Drawdowns
DEL2.L vs. 3USL.L - Drawdown Comparison
The maximum DEL2.L drawdown since its inception was -64.67%, smaller than the maximum 3USL.L drawdown of -76.54%. Use the drawdown chart below to compare losses from any high point for DEL2.L and 3USL.L.
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Drawdown Indicators
| DEL2.L | 3USL.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -64.67% | -76.54% | +11.87% |
Max Drawdown (1Y)Largest decline over 1 year | -26.77% | -24.24% | -2.53% |
Max Drawdown (3Y)Largest decline over 3 years | -30.23% | -50.79% | +20.56% |
Max Drawdown (5Y)Largest decline over 5 years | -49.13% | -57.37% | +8.24% |
Max Drawdown (10Y)Largest decline over 10 years | -64.67% | -76.54% | +11.87% |
Current DrawdownCurrent decline from peak | -8.15% | -2.49% | -5.66% |
Average DrawdownAverage peak-to-trough decline | -16.34% | -14.66% | -1.68% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 8.68% | 6.69% | +1.99% |
Volatility
DEL2.L vs. 3USL.L - Volatility Comparison
L&G DAX Daily 2x Long UCITS ETF EUR (Acc) (DEL2.L) has a higher volatility of 9.31% compared to WisdomTree S&P 500 3x Daily Leveraged GB (3USL.L) at 8.62%. This indicates that DEL2.L's price experiences larger fluctuations and is considered to be riskier than 3USL.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| DEL2.L | 3USL.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 9.31% | 8.62% | +0.69% |
Volatility (6M)Calculated over the trailing 6-month period | 27.88% | 27.06% | +0.82% |
Volatility (1Y)Calculated over the trailing 1-year period | 33.04% | 35.40% | -2.36% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 34.41% | 46.43% | -12.02% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 36.20% | 47.82% | -11.62% |
DEL2.L vs. 3USL.L - Expense Ratio Comparison
DEL2.L has a 0.40% expense ratio, which is lower than 3USL.L's 0.75% expense ratio.
Dividends
DEL2.L vs. 3USL.L - Dividend Comparison
Neither DEL2.L nor 3USL.L has paid dividends to shareholders.
Frequently Asked Questions
DEL2.L and 3USL.L have a correlation of 0.66, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, DEL2.L is cheaper at 0.40% per year. The better choice depends on whether you care most about return, fees, risk, or income.
DEL2.L is cheaper with a 0.40% expense ratio, compared with 0.75% for 3USL.L.
DEL2.L tracks LevDAX x2 Index Gross TR EUR, while 3USL.L tracks S&P 500 Net Total Returns Index. They also come from different issuers: L&G and WisdomTree. Their fees differ too: 0.40% for DEL2.L and 0.75% for 3USL.L.
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