DS2P.L vs. 2MSF.L
DS2P.L (L&G DAX Daily 2x Short UCITS ETF EUR (Acc)) and 2MSF.L (Leverage Shares 2x Microsoft ETC A GBP) are both Leveraged Equities funds - DS2P.L tracks the ShortDAX x2 Index Gross TR EUR while 2MSF.L tracks the NYSE Leveraged 2x MSFT Index. Both are passively managed. Over the past 5 years, DS2P.L returned -20.16%/yr vs 0.80%/yr for 2MSF.L. At a correlation of -0.40, they often move in opposite directions. DS2P.L charges 0.50%/yr vs 0.75%/yr for 2MSF.L.
Performance
DS2P.L vs. 2MSF.L - Performance Comparison
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Returns By Period
In the year-to-date period, DS2P.L achieves a -11.00% return, which is significantly higher than 2MSF.L's -41.74% return.
DS2P.L
- 1D
- 0.56%
- 1M
- -1.79%
- 6M
- -1.11%
- YTD
- -11.00%
- 1Y
- -7.47%
- 3Y*
- -24.32%
- 5Y*
- -20.16%
- 10Y*
- -23.39%
2MSF.L
- 1D
- -3.95%
- 1M
- 0.72%
- 6M
- -34.51%
- YTD
- -41.74%
- 1Y
- -50.26%
- 3Y*
- -5.82%
- 5Y*
- 0.80%
- 10Y*
- —
DS2P.L vs. 2MSF.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
DS2P.L L&G DAX Daily 2x Short UCITS ETF EUR (Acc) | -11.00% | -29.68% | -28.35% | -29.73% | 13.75% | -35.96% | -31.61% | -42.13% | 34.26% | 2.19% |
2MSF.L Leverage Shares 2x Microsoft ETC A GBP | -41.74% | 4.50% | 17.75% | 106.56% | -51.52% | 121.86% | 56.71% | 122.13% | 0.93% | 0.50% |
Correlation
The correlation between DS2P.L and 2MSF.L is -0.17, 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 | -0.17 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.29 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.38 |
Correlation (All Time) Calculated using the full available price history since Dec 8, 2017 | -0.40 |
Over the past year, the inverse relationship between DS2P.L and 2MSF.L has weakened: their correlation has moved from -0.40 to -0.17, meaning they move in opposite directions less often than they have historically.
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Return for Risk
DS2P.L vs. 2MSF.L — Risk / Return Rank
DS2P.L
2MSF.L
DS2P.L vs. 2MSF.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) (DS2P.L) and Leverage Shares 2x Microsoft ETC A GBP (2MSF.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.
| DS2P.L | 2MSF.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.66 | ||
| Sortino ratioReturn per unit of downside risk | +1.12 | ||
| Omega ratioGain probability vs. loss probability | 0.99 | 0.85 | +0.14 |
| Calmar ratioReturn relative to maximum drawdown | -0.27 | -0.81 | +0.54 |
| Martin ratioReturn relative to average drawdown | -0.58 | -1.35 | +0.76 |
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Drawdowns
DS2P.L vs. 2MSF.L - Drawdown Comparison
The maximum DS2P.L drawdown since its inception was -99.62%, which is greater than 2MSF.L's maximum drawdown of -61.61%. Use the drawdown chart below to compare losses from any high point for DS2P.L and 2MSF.L.
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Drawdown Indicators
| DS2P.L | 2MSF.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -99.62% | -61.61% | -38.01% |
Max Drawdown (1Y)Largest decline over 1 year | -27.26% | -61.61% | +34.35% |
Max Drawdown (3Y)Largest decline over 3 years | -67.63% | -61.61% | -6.02% |
Max Drawdown (5Y)Largest decline over 5 years | -78.85% | -61.61% | -17.24% |
Max Drawdown (10Y)Largest decline over 10 years | -93.76% | — | — |
Current DrawdownCurrent decline from peak | -99.59% | -55.13% | -44.46% |
Average DrawdownAverage peak-to-trough decline | -89.22% | -19.16% | -70.06% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 12.82% | 37.31% | -24.49% |
Volatility
DS2P.L vs. 2MSF.L - Volatility Comparison
The current volatility for L&G DAX Daily 2x Short UCITS ETF EUR (Acc) (DS2P.L) is 9.45%, while Leverage Shares 2x Microsoft ETC A GBP (2MSF.L) has a volatility of 19.68%. This indicates that DS2P.L experiences smaller price fluctuations and is considered to be less risky than 2MSF.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| DS2P.L | 2MSF.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 9.45% | 19.68% | -10.23% |
Volatility (6M)Calculated over the trailing 6-month period | 28.11% | 51.89% | -23.78% |
Volatility (1Y)Calculated over the trailing 1-year period | 34.11% | 57.05% | -22.94% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 36.73% | 51.18% | -14.45% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 38.73% | 51.73% | -13.00% |
DS2P.L vs. 2MSF.L - Expense Ratio Comparison
DS2P.L has a 0.50% expense ratio, which is lower than 2MSF.L's 0.75% expense ratio.
Dividends
DS2P.L vs. 2MSF.L - Dividend Comparison
Neither DS2P.L nor 2MSF.L has paid dividends to shareholders.
Frequently Asked Questions
DS2P.L and 2MSF.L have a correlation of -0.17, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, DS2P.L is cheaper at 0.50% per year. The better choice depends on whether you care most about return, fees, risk, or income.
DS2P.L is cheaper with a 0.50% expense ratio, compared with 0.75% for 2MSF.L.
DS2P.L tracks ShortDAX x2 Index Gross TR EUR, while 2MSF.L tracks NYSE Leveraged 2x MSFT Index. They also come from different issuers: L&G and Leverage Shares. Their fees differ too: 0.50% for DS2P.L and 0.75% for 2MSF.L.
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