DES2.DE vs. DXSN.DE
DES2.DE (L&G DAX Daily 2x Short UCITS ETF) and DXSN.DE (Xtrackers ShortDAX Daily Swap UCITS ETF (Acc)) are both Inverse Equities funds - DES2.DE tracks the ShortDAX x2 Index while DXSN.DE tracks the ShortDAX Index. Both are passively managed. Over the past 10 years, DES2.DE returned -23.52%/yr vs -10.41%/yr for DXSN.DE. With a 0.99 correlation, they move nearly in lockstep. DES2.DE charges 0.50%/yr vs 0.40%/yr for DXSN.DE.
Performance
DES2.DE vs. DXSN.DE - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, DES2.DE achieves a -6.55% return, which is significantly lower than DXSN.DE's -1.49% return. Over the past 10 years, DES2.DE has underperformed DXSN.DE with an annualized return of -23.52%, while DXSN.DE has yielded a comparatively higher -10.41% 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%
DXSN.DE
- 1D
- 0.43%
- 1M
- -0.32%
- 6M
- 1.42%
- YTD
- -1.49%
- 1Y
- -2.01%
- 3Y*
- -10.17%
- 5Y*
- -7.94%
- 10Y*
- -10.41%
DES2.DE vs. DXSN.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% |
DXSN.DE Xtrackers ShortDAX Daily Swap UCITS ETF (Acc) | -1.49% | -17.17% | -10.34% | -12.80% | 7.55% | -16.40% | -14.50% | -22.67% | 17.84% | -13.51% |
Correlation
The correlation between DES2.DE and DXSN.DE is 0.99 - 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 | 0.99 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.99 |
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 DXSN.DE has been stable across timeframes, ranging from 0.99 to 0.99 - 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
DES2.DE vs. DXSN.DE — Risk / Return Rank
DES2.DE
DXSN.DE
DES2.DE vs. DXSN.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 Xtrackers ShortDAX Daily Swap UCITS ETF (Acc) (DXSN.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 | DXSN.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.19 | ||
| Sortino ratioReturn per unit of downside risk | -0.18 | ||
| Omega ratioGain probability vs. loss probability | 0.97 | 0.99 | -0.02 |
| Calmar ratioReturn relative to maximum drawdown | -0.39 | -0.15 | -0.24 |
| Martin ratioReturn relative to average drawdown | -0.82 | -0.33 | -0.49 |
Loading charts...
Drawdowns
DES2.DE vs. DXSN.DE - Drawdown Comparison
The maximum DES2.DE drawdown since its inception was -99.34%, which is greater than DXSN.DE's maximum drawdown of -92.05%. Use the drawdown chart below to compare losses from any high point for DES2.DE and DXSN.DE.
Loading charts...
Drawdown Indicators
| DES2.DE | DXSN.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -99.34% | -92.05% | -7.29% |
Max Drawdown (1Y)Largest decline over 1 year | -26.29% | -13.49% | -12.80% |
Max Drawdown (3Y)Largest decline over 3 years | -66.97% | -37.07% | -29.90% |
Max Drawdown (5Y)Largest decline over 5 years | -77.94% | -46.99% | -30.95% |
Max Drawdown (10Y)Largest decline over 10 years | -93.68% | -68.30% | -25.38% |
Current DrawdownCurrent decline from peak | -99.30% | -91.79% | -7.51% |
Average DrawdownAverage peak-to-trough decline | -83.29% | -67.61% | -15.68% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 12.43% | 6.14% | +6.29% |
Volatility
DES2.DE vs. DXSN.DE - Volatility Comparison
L&G DAX Daily 2x Short UCITS ETF (DES2.DE) has a higher volatility of 9.14% compared to Xtrackers ShortDAX Daily Swap UCITS ETF (Acc) (DXSN.DE) at 4.66%. This indicates that DES2.DE's price experiences larger fluctuations and is considered to be riskier than DXSN.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| DES2.DE | DXSN.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 9.14% | 4.66% | +4.48% |
Volatility (6M)Calculated over the trailing 6-month period | 27.38% | 13.77% | +13.61% |
Volatility (1Y)Calculated over the trailing 1-year period | 32.32% | 16.31% | +16.01% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 34.54% | 17.22% | +17.32% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 36.31% | 18.08% | +18.23% |
DES2.DE vs. DXSN.DE - Expense Ratio Comparison
DES2.DE has a 0.50% expense ratio, which is higher than DXSN.DE's 0.40% expense ratio.
Dividends
DES2.DE vs. DXSN.DE - Dividend Comparison
Neither DES2.DE nor DXSN.DE has paid dividends to shareholders.
Frequently Asked Questions
With a correlation of 0.99, DES2.DE and DXSN.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, DXSN.DE is cheaper at 0.40% per year. The better choice depends on whether you care most about return, fees, risk, or income.
DXSN.DE is cheaper with a 0.40% expense ratio, compared with 0.50% for DES2.DE.
DES2.DE tracks ShortDAX x2 Index, while DXSN.DE tracks ShortDAX Index. They also come from different issuers: L&G and Xtrackers. Their fees differ too: 0.50% for DES2.DE and 0.40% for DXSN.DE.
Find the right allocation for DES2.DE and DXSN.DE
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