DES2.L vs. HTWG.L
DES2.L (L&G DAX Daily 2x Short UCITS ETF EUR (Acc)) and HTWG.L (L&G Hydrogen Economy UCITS ETF) are both exchange-traded funds - DES2.L is a Inverse Equities fund tracking the ShortDAX x2 Index Gross TR EUR, while HTWG.L is a Alternative Energy Equities fund tracking the Solactive Hydrogen Economy Index NTR. Both are passively managed. Over the past 5 years, DES2.L returned -20.32%/yr vs 0.39%/yr for HTWG.L. At a correlation of -0.60, they often move in opposite directions. DES2.L charges 0.60%/yr vs 0.49%/yr for HTWG.L.
Performance
DES2.L vs. HTWG.L - Performance Comparison
Loading charts...
Different Trading Currencies
DES2.L is traded in EUR, while HTWG.L is traded in GBp. To make them comparable, the HTWG.L values have been converted to EUR using the latest available exchange rates.
Returns By Period
In the year-to-date period, DES2.L achieves a -5.68% return, which is significantly lower than HTWG.L's 34.19% return.
DES2.L
- 1D
- 0.93%
- 1M
- -0.95%
- 6M
- -0.56%
- YTD
- -5.68%
- 1Y
- -9.69%
- 3Y*
- -24.55%
- 5Y*
- -20.32%
- 10Y*
- -23.54%
HTWG.L
- 1D
- -1.92%
- 1M
- -8.28%
- 6M
- 20.51%
- YTD
- 34.19%
- 1Y
- 63.54%
- 3Y*
- 13.80%
- 5Y*
- 0.39%
- 10Y*
- —
DES2.L vs. HTWG.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
DES2.L L&G DAX Daily 2x Short UCITS ETF EUR (Acc) | -5.68% | -36.17% | -25.21% | -28.29% | 7.83% | -27.40% |
HTWG.L L&G Hydrogen Economy UCITS ETF | 34.19% | 23.87% | -2.22% | -6.56% | -33.17% | -27.05% |
Correlation
The correlation between DES2.L and HTWG.L is -0.51, 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 | -0.51 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.55 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.61 |
Correlation (All Time) Calculated using the full available price history since Feb 10, 2021 | -0.60 |
The correlation between DES2.L and HTWG.L has been stable across timeframes, ranging from -0.61 to -0.51 - 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.L vs. HTWG.L — Risk / Return Rank
DES2.L
HTWG.L
DES2.L vs. HTWG.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 L&G Hydrogen Economy UCITS ETF (HTWG.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 | HTWG.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.32 | ||
| Sortino ratioReturn per unit of downside risk | -2.90 | ||
| Omega ratioGain probability vs. loss probability | 0.97 | 1.33 | -0.36 |
| Calmar ratioReturn relative to maximum drawdown | -0.37 | 3.33 | -3.70 |
| Martin ratioReturn relative to average drawdown | -0.80 | 9.00 | -9.80 |
Loading charts...
Drawdowns
DES2.L vs. HTWG.L - Drawdown Comparison
The maximum DES2.L drawdown since its inception was -99.57%, which is greater than HTWG.L's maximum drawdown of -64.30%. Use the drawdown chart below to compare losses from any high point for DES2.L and HTWG.L.
Loading charts...
Drawdown Indicators
| DES2.L | HTWG.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -99.57% | -64.30% | -35.27% |
Max Drawdown (1Y)Largest decline over 1 year | -25.84% | -19.00% | -6.84% |
Max Drawdown (3Y)Largest decline over 3 years | -66.96% | -31.14% | -35.82% |
Max Drawdown (5Y)Largest decline over 5 years | -78.04% | -57.04% | -21.00% |
Max Drawdown (10Y)Largest decline over 10 years | -93.66% | — | — |
Current DrawdownCurrent decline from peak | -99.55% | -25.96% | -73.59% |
Average DrawdownAverage peak-to-trough decline | -87.79% | -43.53% | -44.26% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 12.11% | 7.04% | +5.07% |
Volatility
DES2.L vs. HTWG.L - Volatility Comparison
The current volatility for L&G DAX Daily 2x Short UCITS ETF EUR (Acc) (DES2.L) is 9.28%, while L&G Hydrogen Economy UCITS ETF (HTWG.L) has a volatility of 11.02%. This indicates that DES2.L experiences smaller price fluctuations and is considered to be less risky than HTWG.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| DES2.L | HTWG.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 9.28% | 11.02% | -1.74% |
Volatility (6M)Calculated over the trailing 6-month period | 26.99% | 21.97% | +5.02% |
Volatility (1Y)Calculated over the trailing 1-year period | 32.03% | 31.36% | +0.67% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 34.22% | 27.14% | +7.08% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 36.12% | 27.25% | +8.87% |
DES2.L vs. HTWG.L - Expense Ratio Comparison
DES2.L has a 0.60% expense ratio, which is higher than HTWG.L's 0.49% expense ratio.
Dividends
DES2.L vs. HTWG.L - Dividend Comparison
Neither DES2.L nor HTWG.L has paid dividends to shareholders.
Frequently Asked Questions
DES2.L and HTWG.L have a correlation of -0.51, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, HTWG.L is cheaper at 0.49% per year. The better choice depends on whether you care most about return, fees, risk, or income.
HTWG.L is cheaper with a 0.49% expense ratio, compared with 0.60% for DES2.L.
DES2.L is categorized as Inverse Equities, while HTWG.L is Alternative Energy Equities. DES2.L tracks ShortDAX x2 Index Gross TR EUR, while HTWG.L tracks Solactive Hydrogen Economy Index NTR. Their fees differ too: 0.60% for DES2.L and 0.49% for HTWG.L.
Find the right allocation for DES2.L and HTWG.L
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