DL2P.L vs. 3QQQ.L
DL2P.L (L&G DAX Daily 2x Long UCITS ETF EUR (Acc)) and 3QQQ.L (Leverage Shares 3x Long US Tech 100 ETP Securities) are both Leveraged Equities funds. DL2P.L is passively managed, while 3QQQ.L is actively managed. Over the past 3 years, DL2P.L returned 22.60%/yr vs 43.07%/yr for 3QQQ.L. A 0.53 correlation means they provide meaningful diversification when combined. DL2P.L charges 0.40%/yr vs 0.01%/yr for 3QQQ.L.
Performance
DL2P.L vs. 3QQQ.L - Performance Comparison
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Different Trading Currencies
DL2P.L is traded in GBp, while 3QQQ.L is traded in USD. To make them comparable, the 3QQQ.L values have been converted to GBp using the latest available exchange rates.
Returns By Period
In the year-to-date period, DL2P.L achieves a -4.56% return, which is significantly lower than 3QQQ.L's 39.59% 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%
3QQQ.L
- 1D
- 0.00%
- 1M
- -9.81%
- 6M
- 39.99%
- YTD
- 39.59%
- 1Y
- 67.41%
- 3Y*
- 43.07%
- 5Y*
- —
- 10Y*
- —
DL2P.L vs. 3QQQ.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
DL2P.L L&G DAX Daily 2x Long UCITS ETF EUR (Acc) | -4.56% | 44.27% | 25.79% | 31.85% | -5.11% |
3QQQ.L Leverage Shares 3x Long US Tech 100 ETP Securities | 39.59% | 5.78% | 63.73% | 172.86% | -55.10% |
Correlation
The correlation between DL2P.L and 3QQQ.L is 0.55, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.55 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.50 |
Correlation (All Time) Calculated using the full available price history since Jun 6, 2022 | 0.53 |
The correlation between DL2P.L and 3QQQ.L has been stable across timeframes, ranging from 0.50 to 0.55 - a consistent structural relationship.
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Return for Risk
DL2P.L vs. 3QQQ.L — Risk / Return Rank
DL2P.L
3QQQ.L
DL2P.L vs. 3QQQ.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 3x Long US Tech 100 ETP Securities (3QQQ.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 | 3QQQ.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.14 | ||
| Sortino ratioReturn per unit of downside risk | -1.78 | ||
| Omega ratioGain probability vs. loss probability | 1.00 | 1.25 | -0.25 |
| Calmar ratioReturn relative to maximum drawdown | -0.17 | 1.42 | -1.59 |
| Martin ratioReturn relative to average drawdown | -0.47 | 2.93 | -3.40 |
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Drawdowns
DL2P.L vs. 3QQQ.L - Drawdown Comparison
The maximum DL2P.L drawdown since its inception was -63.02%, which is greater than 3QQQ.L's maximum drawdown of -58.71%. Use the drawdown chart below to compare losses from any high point for DL2P.L and 3QQQ.L.
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Drawdown Indicators
| DL2P.L | 3QQQ.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -63.02% | -58.71% | -4.31% |
Max Drawdown (1Y)Largest decline over 1 year | -23.87% | -47.38% | +23.51% |
Max Drawdown (3Y)Largest decline over 3 years | -28.21% | -58.71% | +30.50% |
Max Drawdown (5Y)Largest decline over 5 years | -46.63% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -63.02% | — | — |
Current DrawdownCurrent decline from peak | -10.64% | -12.20% | +1.56% |
Average DrawdownAverage peak-to-trough decline | -16.32% | -20.20% | +3.88% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 8.50% | 23.03% | -14.53% |
Volatility
DL2P.L vs. 3QQQ.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 3x Long US Tech 100 ETP Securities (3QQQ.L) has a volatility of 17.44%. This indicates that DL2P.L experiences smaller price fluctuations and is considered to be less risky than 3QQQ.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| DL2P.L | 3QQQ.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 9.48% | 17.44% | -7.96% |
Volatility (6M)Calculated over the trailing 6-month period | 26.53% | 39.46% | -12.93% |
Volatility (1Y)Calculated over the trailing 1-year period | 31.14% | 66.73% | -35.59% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 33.71% | 62.96% | -29.25% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 35.50% | 62.96% | -27.46% |
DL2P.L vs. 3QQQ.L - Expense Ratio Comparison
DL2P.L has a 0.40% expense ratio, which is higher than 3QQQ.L's 0.01% expense ratio.
Dividends
DL2P.L vs. 3QQQ.L - Dividend Comparison
Neither DL2P.L nor 3QQQ.L has paid dividends to shareholders.
Frequently Asked Questions
DL2P.L and 3QQQ.L have a correlation of 0.55, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, 3QQQ.L is cheaper at 0.01% per year. The better choice depends on whether you care most about return, fees, risk, or income.
3QQQ.L is cheaper with a 0.01% expense ratio, compared with 0.40% for DL2P.L.
They also come from different issuers: L&G and Leverage Shares. Their fees differ too: 0.40% for DL2P.L and 0.01% for 3QQQ.L.
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