DL2P.L vs. DRGG.L
DL2P.L (L&G DAX Daily 2x Long UCITS ETF EUR (Acc)) and DRGG.L (L&G China CNY Bond UCITS ETF USD (Dist)) are both exchange-traded funds - DL2P.L is a Leveraged Equities fund tracking the LevDAX x2 Index Gross TR EUR, while DRGG.L is a Government Bonds fund tracking the J.P. Morgan China Custom Liquid ESG Capped Index. Both are passively managed. Over the past 5 years, DL2P.L returned 11.86%/yr vs 2.62%/yr for DRGG.L. At a correlation of -0.20, they often move in opposite directions. DL2P.L charges 0.40%/yr vs 0.30%/yr for DRGG.L.
Performance
DL2P.L vs. DRGG.L - Performance Comparison
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Returns By Period
In the year-to-date period, DL2P.L achieves a -4.61% return, which is significantly lower than DRGG.L's 3.07% return.
DL2P.L
- 1D
- -0.16%
- 1M
- -3.28%
- 6M
- -9.64%
- YTD
- -4.61%
- 1Y
- -5.87%
- 3Y*
- 22.26%
- 5Y*
- 11.86%
- 10Y*
- 13.00%
DRGG.L
- 1D
- 0.25%
- 1M
- -1.39%
- 6M
- 3.02%
- YTD
- 3.07%
- 1Y
- 5.96%
- 3Y*
- 3.65%
- 5Y*
- 2.62%
- 10Y*
- —
DL2P.L vs. DRGG.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
DL2P.L L&G DAX Daily 2x Long UCITS ETF EUR (Acc) | -4.61% | 44.27% | 25.79% | 31.85% | -23.59% | 21.61% | 5.69% |
DRGG.L L&G China CNY Bond UCITS ETF USD (Dist) | 3.07% | -1.73% | 4.79% | -5.00% | 5.94% | 8.52% | -25.93% |
Correlation
The correlation between DL2P.L and DRGG.L is -0.14, 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 | -0.14 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.21 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.23 |
Correlation (All Time) Calculated using the full available price history since Dec 4, 2020 | -0.20 |
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Return for Risk
DL2P.L vs. DRGG.L — Risk / Return Rank
DL2P.L
DRGG.L
DL2P.L vs. DRGG.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 L&G China CNY Bond UCITS ETF USD (Dist) (DRGG.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 | DRGG.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.20 | ||
| Sortino ratioReturn per unit of downside risk | -1.61 | ||
| Omega ratioGain probability vs. loss probability | 0.99 | 1.19 | -0.19 |
| Calmar ratioReturn relative to maximum drawdown | -0.25 | 1.74 | -1.99 |
| Martin ratioReturn relative to average drawdown | -0.69 | 5.19 | -5.88 |
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Drawdowns
DL2P.L vs. DRGG.L - Drawdown Comparison
The maximum DL2P.L drawdown since its inception was -63.02%, which is greater than DRGG.L's maximum drawdown of -27.90%. Use the drawdown chart below to compare losses from any high point for DL2P.L and DRGG.L.
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Drawdown Indicators
| DL2P.L | DRGG.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -63.02% | -27.90% | -35.12% |
Max Drawdown (1Y)Largest decline over 1 year | -23.87% | -3.40% | -20.47% |
Max Drawdown (3Y)Largest decline over 3 years | -28.21% | -9.04% | -19.17% |
Max Drawdown (5Y)Largest decline over 5 years | -46.63% | -15.77% | -30.86% |
Max Drawdown (10Y)Largest decline over 10 years | -63.02% | — | — |
Current DrawdownCurrent decline from peak | -10.68% | -14.51% | +3.83% |
Average DrawdownAverage peak-to-trough decline | -16.32% | -18.79% | +2.47% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 8.52% | 1.14% | +7.38% |
Volatility
DL2P.L vs. DRGG.L - Volatility Comparison
L&G DAX Daily 2x Long UCITS ETF EUR (Acc) (DL2P.L) has a higher volatility of 9.40% compared to L&G China CNY Bond UCITS ETF USD (Dist) (DRGG.L) at 1.03%. This indicates that DL2P.L's price experiences larger fluctuations and is considered to be riskier than DRGG.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 | DRGG.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 9.40% | 1.03% | +8.37% |
Volatility (6M)Calculated over the trailing 6-month period | 26.51% | 4.49% | +22.02% |
Volatility (1Y)Calculated over the trailing 1-year period | 31.14% | 5.85% | +25.29% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 33.70% | 7.33% | +26.37% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 35.50% | 12.95% | +22.55% |
DL2P.L vs. DRGG.L - Expense Ratio Comparison
DL2P.L has a 0.40% expense ratio, which is higher than DRGG.L's 0.30% expense ratio.
Dividends
DL2P.L vs. DRGG.L - Dividend Comparison
DL2P.L has not paid dividends to shareholders, while DRGG.L's dividend yield for the trailing twelve months is around 0.01%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|---|
DL2P.L L&G DAX Daily 2x Long UCITS ETF EUR (Acc) | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
DRGG.L L&G China CNY Bond UCITS ETF USD (Dist) | 0.01% | 2.04% | 2.27% | 2.48% | 2.61% | 1.40% |
Frequently Asked Questions
DL2P.L and DRGG.L have a correlation of -0.14, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, DRGG.L is cheaper at 0.30% per year. The better choice depends on whether you care most about return, fees, risk, or income.
DRGG.L is cheaper with a 0.30% expense ratio, compared with 0.40% for DL2P.L.
DL2P.L is categorized as Leveraged Equities, while DRGG.L is Government Bonds. DL2P.L tracks LevDAX x2 Index Gross TR EUR, while DRGG.L tracks J.P. Morgan China Custom Liquid ESG Capped Index. Their fees differ too: 0.40% for DL2P.L and 0.30% for DRGG.L.
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