DES2.L vs. 2BRE.L
DES2.L (L&G DAX Daily 2x Short UCITS ETF EUR (Acc)) and 2BRE.L (Leverage Shares 2x Long Berkshire Hathaway (BRK-B) ETC EUR) are both exchange-traded funds - DES2.L is a Inverse Equities fund tracking the ShortDAX x2 Index Gross TR EUR, while 2BRE.L is a Leveraged Equities fund actively managed by Leverage Shares. DES2.L is passively managed, while 2BRE.L is actively managed. Over the past year, DES2.L returned -5.81% vs -1.46% for 2BRE.L. At a correlation of -0.22, they often move in opposite directions. DES2.L charges 0.60%/yr vs 0.75%/yr for 2BRE.L.
Performance
DES2.L vs. 2BRE.L - Performance Comparison
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Returns By Period
In the year-to-date period, DES2.L achieves a -3.94% return, which is significantly higher than 2BRE.L's -8.65% return.
DES2.L
- 1D
- 0.49%
- 1M
- 1.13%
- 6M
- 0.91%
- YTD
- -3.94%
- 1Y
- -5.81%
- 3Y*
- -24.09%
- 5Y*
- -20.02%
- 10Y*
- -23.50%
2BRE.L
- 1D
- 0.00%
- 1M
- 0.00%
- 6M
- -5.88%
- YTD
- -8.65%
- 1Y
- -1.46%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
DES2.L vs. 2BRE.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
DES2.L L&G DAX Daily 2x Short UCITS ETF EUR (Acc) | -3.94% | -36.17% | -15.70% |
2BRE.L Leverage Shares 2x Long Berkshire Hathaway (BRK-B) ETC EUR | -8.65% | -4.91% | 13.54% |
Correlation
The correlation between DES2.L and 2BRE.L is -0.09, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.09 |
Correlation (All Time) Calculated using the full available price history since Apr 16, 2024 | -0.22 |
The correlation between DES2.L and 2BRE.L shifts across timeframes, from -0.22 (all time) to -0.09 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
DES2.L vs. 2BRE.L — Risk / Return Rank
DES2.L
2BRE.L
DES2.L vs. 2BRE.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for L&G DAX Daily 2x Short UCITS ETF EUR (Acc) (DES2.L) and Leverage Shares 2x Long Berkshire Hathaway (BRK-B) ETC EUR (2BRE.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.
| DES2.L | 2BRE.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.13 | ||
| Sortino ratioReturn per unit of downside risk | -0.17 | ||
| Omega ratioGain probability vs. loss probability | 1.00 | 1.02 | -0.02 |
| Calmar ratioReturn relative to maximum drawdown | -0.22 | -0.06 | -0.16 |
| Martin ratioReturn relative to average drawdown | -0.47 | -0.12 | -0.35 |
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Drawdowns
DES2.L vs. 2BRE.L - Drawdown Comparison
The maximum DES2.L drawdown since its inception was -99.57%, which is greater than 2BRE.L's maximum drawdown of -39.67%. Use the drawdown chart below to compare losses from any high point for DES2.L and 2BRE.L.
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Drawdown Indicators
| DES2.L | 2BRE.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -99.57% | -39.67% | -59.90% |
Max Drawdown (1Y)Largest decline over 1 year | -25.84% | -22.65% | -3.19% |
Max Drawdown (3Y)Largest decline over 3 years | -66.96% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -78.04% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -93.45% | — | — |
Current DrawdownCurrent decline from peak | -99.54% | -33.45% | -66.09% |
Average DrawdownAverage peak-to-trough decline | -87.79% | -19.00% | -68.79% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 12.24% | 11.73% | +0.51% |
Volatility
DES2.L vs. 2BRE.L - Volatility Comparison
L&G DAX Daily 2x Short UCITS ETF EUR (Acc) (DES2.L) has a higher volatility of 9.36% compared to Leverage Shares 2x Long Berkshire Hathaway (BRK-B) ETC EUR (2BRE.L) at 6.71%. This indicates that DES2.L's price experiences larger fluctuations and is considered to be riskier than 2BRE.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| DES2.L | 2BRE.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 9.36% | 6.71% | +2.65% |
Volatility (6M)Calculated over the trailing 6-month period | 27.01% | 21.30% | +5.71% |
Volatility (1Y)Calculated over the trailing 1-year period | 32.05% | 28.91% | +3.14% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 34.21% | 34.89% | -0.68% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 36.12% | 34.89% | +1.23% |
DES2.L vs. 2BRE.L - Expense Ratio Comparison
DES2.L has a 0.60% expense ratio, which is lower than 2BRE.L's 0.75% expense ratio.
Dividends
DES2.L vs. 2BRE.L - Dividend Comparison
Neither DES2.L nor 2BRE.L has paid dividends to shareholders.
Frequently Asked Questions
DES2.L and 2BRE.L have a correlation of -0.09, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, DES2.L is cheaper at 0.60% per year. The better choice depends on whether you care most about return, fees, risk, or income.
DES2.L is cheaper with a 0.60% expense ratio, compared with 0.75% for 2BRE.L.
DES2.L is categorized as Inverse Equities, while 2BRE.L is Leveraged Equities. They also come from different issuers: L&G and Leverage Shares. Their fees differ too: 0.60% for DES2.L and 0.75% for 2BRE.L.
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