DS2P.L vs. 3GOE.L
DS2P.L (L&G DAX Daily 2x Short UCITS ETF EUR (Acc)) and 3GOE.L (Leverage Shares 3x Alphabet ETP Scs) are both Leveraged Equities funds - DS2P.L tracks the ShortDAX x2 Index Gross TR EUR while 3GOE.L tracks the iSTOXX Leveraged 3X GOOG Index. Both are passively managed. Over the past 5 years, DS2P.L returned -20.24%/yr vs 20.67%/yr for 3GOE.L. At a correlation of -0.38, they often move in opposite directions. DS2P.L charges 0.50%/yr vs 0.75%/yr for 3GOE.L.
Performance
DS2P.L vs. 3GOE.L - Performance Comparison
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Different Trading Currencies
DS2P.L is traded in GBp, while 3GOE.L is traded in USD. To make them comparable, the 3GOE.L values have been converted to GBp using the latest available exchange rates.
Returns By Period
In the year-to-date period, DS2P.L achieves a -11.43% return, which is significantly lower than 3GOE.L's 21.47% return.
DS2P.L
- 1D
- 1.26%
- 1M
- -1.25%
- 6M
- -1.25%
- YTD
- -11.43%
- 1Y
- -10.34%
- 3Y*
- -24.61%
- 5Y*
- -20.24%
- 10Y*
- -23.26%
3GOE.L
- 1D
- 0.00%
- 1M
- -13.02%
- 6M
- 0.57%
- YTD
- 21.47%
- 1Y
- 383.18%
- 3Y*
- 84.34%
- 5Y*
- 20.67%
- 10Y*
- —
DS2P.L vs. 3GOE.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
DS2P.L L&G DAX Daily 2x Short UCITS ETF EUR (Acc) | -11.43% | -29.68% | -28.35% | -29.73% | 13.75% | -35.96% | -24.21% |
3GOE.L Leverage Shares 3x Alphabet ETP Scs | 21.47% | 117.01% | 92.46% | 146.89% | -84.96% | 324.04% | 29.92% |
Correlation
The correlation between DS2P.L and 3GOE.L is -0.28, 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 | -0.28 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.28 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.37 |
Correlation (All Time) Calculated using the full available price history since Jun 4, 2020 | -0.38 |
The correlation between DS2P.L and 3GOE.L shifts across timeframes, from -0.38 (all time) to -0.28 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
DS2P.L vs. 3GOE.L — Risk / Return Rank
DS2P.L
3GOE.L
DS2P.L vs. 3GOE.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 3x Alphabet ETP Scs (3GOE.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 | 3GOE.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -4.54 | ||
| Sortino ratioReturn per unit of downside risk | -4.07 | ||
| Omega ratioGain probability vs. loss probability | 0.97 | 1.47 | -0.49 |
| Calmar ratioReturn relative to maximum drawdown | -0.38 | 7.78 | -8.16 |
| Martin ratioReturn relative to average drawdown | -0.82 | 20.76 | -21.58 |
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Drawdowns
DS2P.L vs. 3GOE.L - Drawdown Comparison
The maximum DS2P.L drawdown since its inception was -99.62%, which is greater than 3GOE.L's maximum drawdown of -87.19%. Use the drawdown chart below to compare losses from any high point for DS2P.L and 3GOE.L.
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Drawdown Indicators
| DS2P.L | 3GOE.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -99.62% | -87.19% | -12.43% |
Max Drawdown (1Y)Largest decline over 1 year | -27.26% | -49.28% | +22.02% |
Max Drawdown (3Y)Largest decline over 3 years | -67.63% | -70.65% | +3.02% |
Max Drawdown (5Y)Largest decline over 5 years | -78.85% | -87.19% | +8.34% |
Max Drawdown (10Y)Largest decline over 10 years | -93.76% | — | — |
Current DrawdownCurrent decline from peak | -99.60% | -31.92% | -67.68% |
Average DrawdownAverage peak-to-trough decline | -89.22% | -41.79% | -47.43% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 12.75% | 18.46% | -5.71% |
Volatility
DS2P.L vs. 3GOE.L - Volatility Comparison
The current volatility for L&G DAX Daily 2x Short UCITS ETF EUR (Acc) (DS2P.L) is 9.55%, while Leverage Shares 3x Alphabet ETP Scs (3GOE.L) has a volatility of 29.15%. This indicates that DS2P.L experiences smaller price fluctuations and is considered to be less risky than 3GOE.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 | 3GOE.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 9.55% | 29.15% | -19.60% |
Volatility (6M)Calculated over the trailing 6-month period | 28.12% | 61.57% | -33.45% |
Volatility (1Y)Calculated over the trailing 1-year period | 34.11% | 90.80% | -56.69% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 36.75% | 90.06% | -53.31% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 38.73% | 88.21% | -49.48% |
DS2P.L vs. 3GOE.L - Expense Ratio Comparison
DS2P.L has a 0.50% expense ratio, which is lower than 3GOE.L's 0.75% expense ratio.
Dividends
DS2P.L vs. 3GOE.L - Dividend Comparison
Neither DS2P.L nor 3GOE.L has paid dividends to shareholders.
Frequently Asked Questions
DS2P.L and 3GOE.L have a correlation of -0.28, 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 3GOE.L.
DS2P.L tracks ShortDAX x2 Index Gross TR EUR, while 3GOE.L tracks iSTOXX Leveraged 3X GOOG 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 3GOE.L.
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