DL2P.L vs. 2MU.L
DL2P.L (L&G DAX Daily 2x Long UCITS ETF EUR (Acc)) and 2MU.L (Leverage Shares 2x Micron Technology ETC GBP) are both Leveraged Equities funds - DL2P.L tracks the LevDAX x2 Index Gross TR EUR while 2MU.L tracks the iSTOXX Leveraged 2X MU Index. Both are passively managed. Over the past 5 years, DL2P.L returned 11.87%/yr vs 94.59%/yr for 2MU.L. At a 0.39 correlation, their price movements are largely independent. DL2P.L charges 0.40%/yr vs 0.75%/yr for 2MU.L.
Performance
DL2P.L vs. 2MU.L - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, DL2P.L achieves a -4.56% return, which is significantly lower than 2MU.L's 620.93% return.
DL2P.L
- 1D
- -1.29%
- 1M
- -2.86%
- 6M
- -9.94%
- YTD
- -4.56%
- 1Y
- -3.84%
- 3Y*
- 22.60%
- 5Y*
- 11.87%
- 10Y*
- 12.86%
2MU.L
- 1D
- 0.00%
- 1M
- -24.57%
- 6M
- 461.59%
- YTD
- 620.93%
- 1Y
- 3,375.34%
- 3Y*
- 286.17%
- 5Y*
- 94.59%
- 10Y*
- —
DL2P.L vs. 2MU.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
DL2P.L L&G DAX Daily 2x Long UCITS ETF EUR (Acc) | -4.56% | 44.27% | 25.79% | 31.85% | -23.59% | 21.61% | 16.48% |
2MU.L Leverage Shares 2x Micron Technology ETC GBP | 620.93% | 550.25% | -30.59% | 142.95% | -76.42% | 45.29% | 65.67% |
Correlation
The correlation between DL2P.L and 2MU.L is 0.33, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.33 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.35 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.39 |
Correlation (All Time) Calculated using the full available price history since Jun 4, 2020 | 0.39 |
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
DL2P.L vs. 2MU.L — Risk / Return Rank
DL2P.L
2MU.L
DL2P.L vs. 2MU.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for L&G DAX Daily 2x Long UCITS ETF EUR (Acc) (DL2P.L) and Leverage Shares 2x Micron Technology ETC GBP (2MU.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.
| DL2P.L | 2MU.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -22.11 | ||
| Sortino ratioReturn per unit of downside risk | -5.64 | ||
| Omega ratioGain probability vs. loss probability | 1.00 | 1.70 | -0.69 |
| Calmar ratioReturn relative to maximum drawdown | -0.17 | 63.45 | -63.61 |
| Martin ratioReturn relative to average drawdown | -0.47 | 202.07 | -202.54 |
Loading charts...
Drawdowns
DL2P.L vs. 2MU.L - Drawdown Comparison
The maximum DL2P.L drawdown since its inception was -63.02%, smaller than the maximum 2MU.L drawdown of -89.16%. Use the drawdown chart below to compare losses from any high point for DL2P.L and 2MU.L.
Loading charts...
Drawdown Indicators
| DL2P.L | 2MU.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -63.02% | -89.16% | +26.14% |
Max Drawdown (1Y)Largest decline over 1 year | -23.87% | -53.20% | +29.33% |
Max Drawdown (3Y)Largest decline over 3 years | -28.21% | -89.16% | +60.95% |
Max Drawdown (5Y)Largest decline over 5 years | -46.63% | -89.16% | +42.53% |
Max Drawdown (10Y)Largest decline over 10 years | -63.02% | — | — |
Current DrawdownCurrent decline from peak | -10.64% | -37.25% | +26.61% |
Average DrawdownAverage peak-to-trough decline | -16.32% | -44.30% | +27.98% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 8.50% | 16.70% | -8.20% |
Volatility
DL2P.L vs. 2MU.L - Volatility Comparison
The current volatility for L&G DAX Daily 2x Long UCITS ETF EUR (Acc) (DL2P.L) is 9.48%, while Leverage Shares 2x Micron Technology ETC GBP (2MU.L) has a volatility of 57.95%. This indicates that DL2P.L experiences smaller price fluctuations and is considered to be less risky than 2MU.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| DL2P.L | 2MU.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 9.48% | 57.95% | -48.47% |
Volatility (6M)Calculated over the trailing 6-month period | 26.53% | 111.41% | -84.88% |
Volatility (1Y)Calculated over the trailing 1-year period | 31.14% | 153.58% | -122.44% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 33.71% | 111.50% | -77.79% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 35.50% | 105.70% | -70.20% |
DL2P.L vs. 2MU.L - Expense Ratio Comparison
DL2P.L has a 0.40% expense ratio, which is lower than 2MU.L's 0.75% expense ratio.
Dividends
DL2P.L vs. 2MU.L - Dividend Comparison
Neither DL2P.L nor 2MU.L has paid dividends to shareholders.
Frequently Asked Questions
DL2P.L and 2MU.L have a correlation of 0.33, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, DL2P.L is cheaper at 0.40% per year. The better choice depends on whether you care most about return, fees, risk, or income.
DL2P.L is cheaper with a 0.40% expense ratio, compared with 0.75% for 2MU.L.
DL2P.L tracks LevDAX x2 Index Gross TR EUR, while 2MU.L tracks iSTOXX Leveraged 2X MU Index. They also come from different issuers: L&G and Leverage Shares. Their fees differ too: 0.40% for DL2P.L and 0.75% for 2MU.L.
Find the right allocation for DL2P.L and 2MU.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