DS2P.L vs. LUK2.L
DS2P.L (L&G DAX Daily 2x Short UCITS ETF EUR (Acc)) and LUK2.L (L&G FTSE 100 Leveraged (Daily 2x) UCITS ETF GBP (Acc)) are both Leveraged Equities funds from L&G - DS2P.L tracks the ShortDAX x2 Index Gross TR EUR while LUK2.L tracks the FTSE 100 Daily Leveraged Index. Both are passively managed. Over the past 10 years, DS2P.L returned -23.39%/yr vs 10.51%/yr for LUK2.L. At a correlation of -0.70, they often move in opposite directions. Both charge a 0.50% expense ratio.
Performance
DS2P.L vs. LUK2.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 lower than LUK2.L's 12.85% return. Over the past 10 years, DS2P.L has underperformed LUK2.L with an annualized return of -23.39%, while LUK2.L has yielded a comparatively higher 10.51% annualized 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%
LUK2.L
- 1D
- 0.67%
- 1M
- 1.34%
- 6M
- 6.53%
- YTD
- 12.85%
- 1Y
- 36.06%
- 3Y*
- 24.04%
- 5Y*
- 17.31%
- 10Y*
- 10.51%
DS2P.L vs. LUK2.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% | -24.13% |
LUK2.L L&G FTSE 100 Leveraged (Daily 2x) UCITS ETF GBP (Acc) | 12.85% | 43.73% | 9.81% | 6.59% | 3.75% | 34.76% | -30.43% | 32.52% | -20.70% | 22.28% |
Correlation
The correlation between DS2P.L and LUK2.L is -0.59, 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 | -0.59 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.60 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.66 |
Correlation (10Y) Calculated over the trailing 10-year period | -0.65 |
Correlation (All Time) Calculated using the full available price history since Jun 18, 2009 | -0.70 |
The correlation between DS2P.L and LUK2.L shifts across timeframes, from -0.70 (all time) to -0.59 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
DS2P.L vs. LUK2.L — Risk / Return Rank
DS2P.L
LUK2.L
DS2P.L vs. LUK2.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 L&G FTSE 100 Leveraged (Daily 2x) UCITS ETF GBP (Acc) (LUK2.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 | LUK2.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.81 | ||
| Sortino ratioReturn per unit of downside risk | -2.26 | ||
| Omega ratioGain probability vs. loss probability | 0.99 | 1.29 | -0.30 |
| Calmar ratioReturn relative to maximum drawdown | -0.27 | 1.94 | -2.21 |
| Martin ratioReturn relative to average drawdown | -0.58 | 5.67 | -6.25 |
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Drawdowns
DS2P.L vs. LUK2.L - Drawdown Comparison
The maximum DS2P.L drawdown since its inception was -99.62%, which is greater than LUK2.L's maximum drawdown of -58.84%. Use the drawdown chart below to compare losses from any high point for DS2P.L and LUK2.L.
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Drawdown Indicators
| DS2P.L | LUK2.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -99.62% | -58.84% | -40.78% |
Max Drawdown (1Y)Largest decline over 1 year | -27.26% | -18.55% | -8.71% |
Max Drawdown (3Y)Largest decline over 3 years | -67.63% | -25.42% | -42.21% |
Max Drawdown (5Y)Largest decline over 5 years | -78.85% | -25.42% | -53.43% |
Max Drawdown (10Y)Largest decline over 10 years | -93.76% | -58.84% | -34.92% |
Current DrawdownCurrent decline from peak | -99.59% | -6.16% | -93.43% |
Average DrawdownAverage peak-to-trough decline | -89.22% | -10.67% | -78.55% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 12.82% | 6.34% | +6.48% |
Volatility
DS2P.L vs. LUK2.L - Volatility Comparison
L&G DAX Daily 2x Short UCITS ETF EUR (Acc) (DS2P.L) has a higher volatility of 9.45% compared to L&G FTSE 100 Leveraged (Daily 2x) UCITS ETF GBP (Acc) (LUK2.L) at 5.83%. This indicates that DS2P.L's price experiences larger fluctuations and is considered to be riskier than LUK2.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 | LUK2.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 9.45% | 5.83% | +3.62% |
Volatility (6M)Calculated over the trailing 6-month period | 28.11% | 19.66% | +8.45% |
Volatility (1Y)Calculated over the trailing 1-year period | 34.11% | 22.62% | +11.49% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 36.73% | 25.60% | +11.13% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 38.73% | 29.65% | +9.08% |
DS2P.L vs. LUK2.L - Expense Ratio Comparison
Both DS2P.L and LUK2.L have an expense ratio of 0.50%.
Dividends
DS2P.L vs. LUK2.L - Dividend Comparison
Neither DS2P.L nor LUK2.L has paid dividends to shareholders.
Frequently Asked Questions
DS2P.L and LUK2.L have a correlation of -0.59, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
Both ETFs have the same 0.50% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.
DS2P.L and LUK2.L have the same expense ratio: 0.50% per year.
DS2P.L tracks ShortDAX x2 Index Gross TR EUR, while LUK2.L tracks FTSE 100 Daily Leveraged Index.
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