DES2.DE vs. XMLH.DE
DES2.DE (L&G DAX Daily 2x Short UCITS ETF) and XMLH.DE (L&G Healthcare Technology & Innovation UCITS ETF USD Acc) are both exchange-traded funds - DES2.DE is a Inverse Equities fund tracking the ShortDAX x2 Index, while XMLH.DE is a Health & Biotech Equities fund tracking the ROBO Global Healthcare Technology and Innovation Index. Both are passively managed. Over the past 5 years, DES2.DE returned -20.23%/yr vs -2.65%/yr for XMLH.DE. At a correlation of -0.52, they often move in opposite directions. DES2.DE charges 0.50%/yr vs 0.49%/yr for XMLH.DE.
Performance
DES2.DE vs. XMLH.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 XMLH.DE's 8.53% 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%
XMLH.DE
- 1D
- -0.63%
- 1M
- 9.04%
- 6M
- 3.67%
- YTD
- 8.53%
- 1Y
- 37.82%
- 3Y*
- 7.32%
- 5Y*
- -2.65%
- 10Y*
- —
DES2.DE vs. XMLH.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
DES2.DE L&G DAX Daily 2x Short UCITS ETF | -6.55% | -35.92% | -24.73% | -28.32% | 8.81% | -31.47% | -34.46% | -18.43% |
XMLH.DE L&G Healthcare Technology & Innovation UCITS ETF USD Acc | 8.53% | 11.69% | 8.01% | -4.50% | -29.19% | 7.76% | 49.95% | -0.52% |
Correlation
The correlation between DES2.DE and XMLH.DE is -0.47, 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 | -0.47 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.49 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.52 |
Correlation (All Time) Calculated using the full available price history since Jun 26, 2019 | -0.52 |
The correlation between DES2.DE and XMLH.DE has been stable across timeframes, ranging from -0.52 to -0.47 - a consistent structural relationship.
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Return for Risk
DES2.DE vs. XMLH.DE — Risk / Return Rank
DES2.DE
XMLH.DE
DES2.DE vs. XMLH.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 Healthcare Technology & Innovation UCITS ETF USD Acc (XMLH.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 | XMLH.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.27 | ||
| Sortino ratioReturn per unit of downside risk | -3.07 | ||
| Omega ratioGain probability vs. loss probability | 0.97 | 1.33 | -0.36 |
| Calmar ratioReturn relative to maximum drawdown | -0.39 | 2.64 | -3.03 |
| Martin ratioReturn relative to average drawdown | -0.82 | 5.92 | -6.74 |
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Drawdowns
DES2.DE vs. XMLH.DE - Drawdown Comparison
The maximum DES2.DE drawdown since its inception was -99.34%, which is greater than XMLH.DE's maximum drawdown of -51.48%. Use the drawdown chart below to compare losses from any high point for DES2.DE and XMLH.DE.
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Drawdown Indicators
| DES2.DE | XMLH.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -99.34% | -51.48% | -47.86% |
Max Drawdown (1Y)Largest decline over 1 year | -26.29% | -15.46% | -10.83% |
Max Drawdown (3Y)Largest decline over 3 years | -66.97% | -28.40% | -38.57% |
Max Drawdown (5Y)Largest decline over 5 years | -77.94% | -50.58% | -27.36% |
Max Drawdown (10Y)Largest decline over 10 years | -93.68% | — | — |
Current DrawdownCurrent decline from peak | -99.30% | -21.16% | -78.14% |
Average DrawdownAverage peak-to-trough decline | -83.29% | -25.17% | -58.12% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 12.43% | 6.91% | +5.52% |
Volatility
DES2.DE vs. XMLH.DE - Volatility Comparison
L&G DAX Daily 2x Short UCITS ETF (DES2.DE) has a higher volatility of 9.14% compared to L&G Healthcare Technology & Innovation UCITS ETF USD Acc (XMLH.DE) at 6.98%. This indicates that DES2.DE's price experiences larger fluctuations and is considered to be riskier than XMLH.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| DES2.DE | XMLH.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 9.14% | 6.98% | +2.16% |
Volatility (6M)Calculated over the trailing 6-month period | 27.38% | 16.00% | +11.38% |
Volatility (1Y)Calculated over the trailing 1-year period | 32.32% | 21.03% | +11.29% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 34.54% | 22.53% | +12.01% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 36.31% | 23.79% | +12.52% |
DES2.DE vs. XMLH.DE - Expense Ratio Comparison
DES2.DE has a 0.50% expense ratio, which is higher than XMLH.DE's 0.49% expense ratio.
Dividends
DES2.DE vs. XMLH.DE - Dividend Comparison
Neither DES2.DE nor XMLH.DE has paid dividends to shareholders.
Frequently Asked Questions
DES2.DE and XMLH.DE have a correlation of -0.47, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, XMLH.DE is cheaper at 0.49% per year. The better choice depends on whether you care most about return, fees, risk, or income.
XMLH.DE is cheaper with a 0.49% expense ratio, compared with 0.50% for DES2.DE.
DES2.DE is categorized as Inverse Equities, while XMLH.DE is Health & Biotech Equities. DES2.DE tracks ShortDAX x2 Index, while XMLH.DE tracks ROBO Global Healthcare Technology and Innovation Index. Their fees differ too: 0.50% for DES2.DE and 0.49% for XMLH.DE.
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