DRGG.L vs. DEL2.L

Last updated Jul 16, 2026

DRGG.L (L&G China CNY Bond UCITS ETF USD (Dist)) and DEL2.L (L&G DAX Daily 2x Long UCITS ETF EUR (Acc)) are both exchange-traded funds - DRGG.L is a Government Bonds fund tracking the J.P. Morgan China Custom Liquid ESG Capped Index, while DEL2.L is a Leveraged Equities fund tracking the LevDAX x2 Index Gross TR EUR. Both are passively managed. Over the past 5 years, DRGG.L returned 2.65%/yr vs 12.14%/yr for DEL2.L. At a correlation of -0.21, they often move in opposite directions. DRGG.L charges 0.30%/yr vs 0.40%/yr for DEL2.L.

Performance

DRGG.L vs. DEL2.L - Performance Comparison

The chart below illustrates the hypothetical performance of a £10,000 investment in L&G China CNY Bond UCITS ETF USD (Dist) (DRGG.L) and L&G DAX Daily 2x Long UCITS ETF EUR (Acc) (DEL2.L). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

DRGG.L is traded in GBp, while DEL2.L is traded in EUR. To make them comparable, the DEL2.L values have been converted to GBp using the latest available exchange rates.

Returns By Period

In the year-to-date period, DRGG.L achieves a 3.22% return, which is significantly higher than DEL2.L's -3.16% return.

DRGG.L

• 1D: -0.64%
• 1M: -0.78%
• 6M: 2.97%
• YTD: 3.22%
• 1Y: 6.08%
• 3Y*: 3.64%
• 5Y*: 2.65%
• 10Y*: —

DEL2.L

• 1D: 0.00%
• 1M: -1.65%
• 6M: -8.69%
• YTD: -3.16%
• 1Y: -2.59%
• 3Y*: 23.12%
• 5Y*: 12.14%
• 10Y*: 12.96%

*Multi-year figures are annualized to reflect compound growth (CAGR)

DRGG.L vs. DEL2.L - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
DRGG.L L&G China CNY Bond UCITS ETF USD (Dist)	3.22%	-1.73%	4.79%	-5.00%	5.94%	8.52%	-25.93%
DEL2.L L&G DAX Daily 2x Long UCITS ETF EUR (Acc)	-3.16%	44.60%	25.67%	31.99%	-23.97%	22.32%	4.93%

Correlation

The correlation between DRGG.L and DEL2.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	-0.22
Correlation (5Y) Calculated over the trailing 5-year period	-0.24
Correlation (All Time) Calculated using the full available price history since Dec 4, 2020	-0.21

The correlation between DRGG.L and DEL2.L shifts across timeframes, from -0.24 (5 years) to -0.14 (1 year), reflecting how their relationship changes across market environments.

Return for Risk

DRGG.L vs. DEL2.L — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

DRGG.L

DRGG.L Risk / Return Rank: 37
DRGG.L Sharpe Ratio Rank: 34
DRGG.L Sortino Ratio Rank: 36
DRGG.L Omega Ratio Rank: 33
DRGG.L Calmar Ratio Rank: 42
DRGG.L Martin Ratio Rank: 42

DEL2.L

DEL2.L Risk / Return Rank: 9
DEL2.L Sharpe Ratio Rank: 9
DEL2.L Sortino Ratio Rank: 10
DEL2.L Omega Ratio Rank: 9
DEL2.L Calmar Ratio Rank: 9
DEL2.L Martin Ratio Rank: 9

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

DRGG.L vs. DEL2.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for L&G China CNY Bond UCITS ETF USD (Dist) (DRGG.L) and L&G DAX Daily 2x Long UCITS ETF EUR (Acc) (DEL2.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.

	DRGG.L	DEL2.L	Difference
Sharpe ratio: Return per unit of total volatility	1.04	-0.08	+1.12
Sortino ratio: Return per unit of downside risk	1.59	0.12	+1.48
Omega ratio: Gain probability vs. loss probability	1.19	1.01	+0.18
Calmar ratio: Return relative to maximum drawdown	1.78	-0.10	+1.88
Martin ratio: Return relative to average drawdown	5.39	-0.31	+5.70

DRGG.L vs. DEL2.L - Sharpe Ratio Comparison

The current DRGG.L Sharpe Ratio is 1.04, which is higher than the DEL2.L Sharpe Ratio of -0.08. The chart below compares the historical Sharpe Ratios of DRGG.L and DEL2.L, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

DRGG.L vs. DEL2.L - Drawdown Comparison

The maximum DRGG.L drawdown since its inception was -27.90%, smaller than the maximum DEL2.L drawdown of -62.23%. Use the drawdown chart below to compare losses from any high point for DRGG.L and DEL2.L.

Drawdown Indicators

	DRGG.L	DEL2.L	Difference
Max Drawdown Largest peak-to-trough decline	-27.90%	-62.23%	+34.33%
Max Drawdown (1Y) Largest decline over 1 year	-3.40%	-27.04%	+23.64%
Max Drawdown (3Y) Largest decline over 3 years	-9.04%	-28.87%	+19.83%
Max Drawdown (5Y) Largest decline over 5 years	-15.77%	-46.74%	+30.97%
Max Drawdown (10Y) Largest decline over 10 years	—	-62.23%	—
Current Drawdown Current decline from peak	-14.39%	-9.58%	-4.81%
Average Drawdown Average peak-to-trough decline	-18.79%	-16.01%	-2.78%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.13%	8.63%	-7.50%

Volatility

DRGG.L vs. DEL2.L - Volatility Comparison

The current volatility for L&G China CNY Bond UCITS ETF USD (Dist) (DRGG.L) is 1.44%, while L&G DAX Daily 2x Long UCITS ETF EUR (Acc) (DEL2.L) has a volatility of 9.31%. This indicates that DRGG.L experiences smaller price fluctuations and is considered to be less risky than DEL2.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	DRGG.L	DEL2.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.44%	9.31%	-7.87%
Volatility (6M) Calculated over the trailing 6-month period	4.47%	27.90%	-23.43%
Volatility (1Y) Calculated over the trailing 1-year period	5.85%	32.70%	-26.85%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	7.33%	34.12%	-26.79%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	12.96%	35.70%	-22.74%

DRGG.L vs. DEL2.L - Expense Ratio Comparison

DRGG.L has a 0.30% expense ratio, which is lower than DEL2.L's 0.40% expense ratio.

Dividends

DRGG.L vs. DEL2.L - Dividend Comparison

DRGG.L's dividend yield for the trailing twelve months is around 0.87%, while DEL2.L has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021
DEL2.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)	0.87%	2.04%	2.27%	2.48%	2.61%	1.40%

Frequently Asked Questions

Can I hold both DRGG.L and DEL2.L in my portfolio?

DRGG.L and DEL2.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.

Which ETF is better, DRGG.L or DEL2.L?

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.

Which ETF is cheaper, DRGG.L or DEL2.L?

DRGG.L is cheaper with a 0.30% expense ratio, compared with 0.40% for DEL2.L.

What is the main difference between DRGG.L and DEL2.L?

DRGG.L is categorized as Government Bonds, while DEL2.L is Leveraged Equities. DRGG.L tracks J.P. Morgan China Custom Liquid ESG Capped Index, while DEL2.L tracks LevDAX x2 Index Gross TR EUR. Their fees differ too: 0.30% for DRGG.L and 0.40% for DEL2.L.