DES2.DE vs. DEL2.DE
DES2.DE (L&G DAX Daily 2x Short UCITS ETF) and DEL2.DE (L&G DAX Daily 2x Long UCITS ETF) are both exchange-traded funds - DES2.DE is a Inverse Equities fund tracking the ShortDAX x2 Index, while DEL2.DE is a Leveraged Equities fund tracking the LevDAX x2 Index. Both are passively managed. Over the past 10 years, DES2.DE returned -23.52%/yr vs 12.68%/yr for DEL2.DE. At a correlation of -0.99, they often move in opposite directions. DES2.DE charges 0.50%/yr vs 0.40%/yr for DEL2.DE.
Performance
DES2.DE vs. DEL2.DE - Performance Comparison
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Returns By Period
In the year-to-date period, DES2.DE achieves a -6.55% return, which is significantly lower than DEL2.DE's -2.20% return. Over the past 10 years, DES2.DE has underperformed DEL2.DE with an annualized return of -23.52%, while DEL2.DE has yielded a comparatively higher 12.68% annualized return.
DES2.DE
- 1D
- -0.04%
- 1M
- -0.78%
- 6M
- -0.76%
- YTD
- -6.55%
- 1Y
- -9.77%
- 3Y*
- -24.72%
- 5Y*
- -20.23%
- 10Y*
- -23.52%
DEL2.DE
- 1D
- -1.36%
- 1M
- -1.11%
- 6M
- -7.79%
- YTD
- -2.20%
- 1Y
- -1.66%
- 3Y*
- 23.05%
- 5Y*
- 12.01%
- 10Y*
- 12.68%
DES2.DE vs. DEL2.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
DES2.DE L&G DAX Daily 2x Short UCITS ETF | -6.55% | -35.92% | -24.73% | -28.32% | 8.81% | -31.47% | -34.46% | -41.49% | 35.04% | -25.95% |
DEL2.DE L&G DAX Daily 2x Long UCITS ETF | -2.20% | 38.93% | 30.47% | 34.91% | -28.24% | 29.94% | -5.25% | 52.22% | -35.31% | 23.94% |
Correlation
The correlation between DES2.DE and DEL2.DE is -0.99, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.99 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.98 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.99 |
Correlation (10Y) Calculated over the trailing 10-year period | -0.99 |
Correlation (All Time) Calculated using the full available price history since Nov 13, 2009 | -0.99 |
The correlation between DES2.DE and DEL2.DE has been stable across timeframes, ranging from -0.99 to -0.98 - a consistent structural relationship.
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Return for Risk
DES2.DE vs. DEL2.DE — Risk / Return Rank
DES2.DE
DEL2.DE
DES2.DE vs. DEL2.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for L&G DAX Daily 2x Short UCITS ETF (DES2.DE) and L&G DAX Daily 2x Long UCITS ETF (DEL2.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.
| DES2.DE | DEL2.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.28 | ||
| Sortino ratioReturn per unit of downside risk | -0.41 | ||
| Omega ratioGain probability vs. loss probability | 0.97 | 1.02 | -0.05 |
| Calmar ratioReturn relative to maximum drawdown | -0.39 | -0.05 | -0.34 |
| Martin ratioReturn relative to average drawdown | -0.82 | -0.14 | -0.68 |
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Drawdowns
DES2.DE vs. DEL2.DE - Drawdown Comparison
The maximum DES2.DE drawdown since its inception was -99.34%, which is greater than DEL2.DE's maximum drawdown of -65.30%. Use the drawdown chart below to compare losses from any high point for DES2.DE and DEL2.DE.
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Drawdown Indicators
| DES2.DE | DEL2.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -99.34% | -65.30% | -34.04% |
Max Drawdown (1Y)Largest decline over 1 year | -26.29% | -24.33% | -1.96% |
Max Drawdown (3Y)Largest decline over 3 years | -66.97% | -29.92% | -37.05% |
Max Drawdown (5Y)Largest decline over 5 years | -77.94% | -48.89% | -29.05% |
Max Drawdown (10Y)Largest decline over 10 years | -93.68% | -65.30% | -28.38% |
Current DrawdownCurrent decline from peak | -99.30% | -8.86% | -90.44% |
Average DrawdownAverage peak-to-trough decline | -83.29% | -16.56% | -66.73% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 12.43% | 8.67% | +3.76% |
Volatility
DES2.DE vs. DEL2.DE - Volatility Comparison
L&G DAX Daily 2x Short UCITS ETF (DES2.DE) and L&G DAX Daily 2x Long UCITS ETF (DEL2.DE) have volatilities of 9.14% and 9.27%, 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
| DES2.DE | DEL2.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 9.14% | 9.27% | -0.13% |
Volatility (6M)Calculated over the trailing 6-month period | 27.38% | 27.00% | +0.38% |
Volatility (1Y)Calculated over the trailing 1-year period | 32.32% | 32.40% | -0.08% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 34.54% | 34.27% | +0.27% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 36.31% | 36.07% | +0.24% |
DES2.DE vs. DEL2.DE - Expense Ratio Comparison
DES2.DE has a 0.50% expense ratio, which is higher than DEL2.DE's 0.40% expense ratio.
Dividends
DES2.DE vs. DEL2.DE - Dividend Comparison
Neither DES2.DE nor DEL2.DE has paid dividends to shareholders.
Frequently Asked Questions
DES2.DE and DEL2.DE have a correlation of -0.99, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, DEL2.DE is cheaper at 0.40% per year. The better choice depends on whether you care most about return, fees, risk, or income.
DEL2.DE is cheaper with a 0.40% expense ratio, compared with 0.50% for DES2.DE.
DES2.DE is categorized as Inverse Equities, while DEL2.DE is Leveraged Equities. DES2.DE tracks ShortDAX x2 Index, while DEL2.DE tracks LevDAX x2 Index. Their fees differ too: 0.50% for DES2.DE and 0.40% for DEL2.DE.
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