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DUKE.L vs. R2SC.L
Performance
Return for Risk
Drawdowns
Volatility
Dividends

DUKE.L vs. R2SC.L

Last updated Jul 22, 2026
Documentation

DUKE.L (Duke Royalty Ltd) is a stock, while R2SC.L (SPDR Russell 2000 US Small Cap UCITS ETF) is Small Cap Blend Equities fund tracking the Russell 2000 TR USD. Over the past 10 years, DUKE.L returned 1.74%/yr vs 10.19%/yr for R2SC.L. At a 0.08 correlation, their price movements are largely independent.

Performance

DUKE.L vs. R2SC.L - Performance Comparison

The chart below illustrates the hypothetical performance of a £10,000 investment in Duke Royalty Ltd (DUKE.L) and SPDR Russell 2000 US Small Cap UCITS ETF (R2SC.L). The values are adjusted to include any dividend payments, if applicable.

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Different Trading Currencies

DUKE.L is traded in GBp, while R2SC.L is traded in GBP. To make them comparable, the R2SC.L values have been converted to GBp using the latest available exchange rates.

Returns By Period

In the year-to-date period, DUKE.L achieves a 5.47% return, which is significantly lower than R2SC.L's 20.42% return. Over the past 10 years, DUKE.L has underperformed R2SC.L with an annualized return of 1.74%, while R2SC.L has yielded a comparatively higher 10.19% annualized return.

DUKE.L

1D
0.93%
1M
2.66%
6M
8.49%
YTD
5.47%
1Y
-3.82%
3Y*
1.50%
5Y*
1.14%
10Y*
1.74%
ALL TIME*
-18.10%

R2SC.L

1D
0.79%
1M
-1.17%
6M
12.74%
YTD
20.42%
1Y
34.23%
3Y*
14.32%
5Y*
7.87%
10Y*
10.19%
ALL TIME*
6.46%
*Multi-year figures are annualized to reflect compound growth (CAGR)

DUKE.L vs. R2SC.L - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
DUKE.L
Duke Royalty Ltd		5.47%-2.75%0.63%5.76%-13.32%48.18%-31.09%22.80%19.60%-13.56%
R2SC.L
SPDR Russell 2000 US Small Cap UCITS ETF		20.42%4.66%11.88%12.16%-11.55%15.87%15.73%20.67%-7.45%4.45%

Correlation

The correlation between DUKE.L and R2SC.L is 0.08, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.08

Correlation (3Y)
Calculated over the trailing 3-year period

0.07

Correlation (5Y)
Calculated over the trailing 5-year period

0.06

Correlation (10Y)
Calculated over the trailing 10-year period

0.10

Correlation (All Time)
Calculated using the full available price history since Jun 30, 2014

0.08

Compare stocks, funds, or ETFs

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Duke Royalty Ltd

SPDR Russell 2000 US Small Cap UCITS ETF

Often compared with DUKE.L:
DUKE.L vs. GCP.LDUKE.L vs. OCI.LDUKE.L vs. BIPS.LDUKE.L vs. GSPX.LDUKE.L vs. BRK-BDUKE.L vs. BUT.LDUKE.L vs. AGT.L
Often compared with R2SC.L:
R2SC.L vs. USSC.LR2SC.L vs. XRSG.LR2SC.L vs. ^SP400R2SC.L vs. AVUVR2SC.L vs. WSML.LR2SC.L vs. RTYS.LR2SC.L vs. CUS1.L

Return for Risk

DUKE.L vs. R2SC.L — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
DUKE.L
DUKE.L Risk / Return Rank: 3434
Overall Rank
DUKE.L Sharpe Ratio Rank: 3737
Sharpe Ratio Rank
DUKE.L Sortino Ratio Rank: 3232
Sortino Ratio Rank
DUKE.L Omega Ratio Rank: 3131
Omega Ratio Rank
DUKE.L Calmar Ratio Rank: 3535
Calmar Ratio Rank
DUKE.L Martin Ratio Rank: 3535
Martin Ratio Rank
R2SC.L
R2SC.L Risk / Return Rank: 8282
Overall Rank
R2SC.L Sharpe Ratio Rank: 8383
Sharpe Ratio Rank
R2SC.L Sortino Ratio Rank: 8181
Sortino Ratio Rank
R2SC.L Omega Ratio Rank: 7676
Omega Ratio Rank
R2SC.L Calmar Ratio Rank: 8989
Calmar Ratio Rank
R2SC.L Martin Ratio Rank: 8181
Martin Ratio Rank
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.

DUKE.L vs. R2SC.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Duke Royalty Ltd (DUKE.L) and SPDR Russell 2000 US Small Cap UCITS ETF (R2SC.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.

DUKE.LR2SC.LDifference
Sharpe ratioReturn per unit of total volatility
-0.19
2.02

-2.20

Sortino ratioReturn per unit of downside risk
-0.12
2.77

-2.90

Omega ratioGain probability vs. loss probability

0.98

1.34

-0.35

Calmar ratioReturn relative to maximum drawdown

-0.31

3.95

-4.26

Martin ratioReturn relative to average drawdown

-0.58

11.35

-11.93

DUKE.L vs. R2SC.L - Sharpe Ratio Comparison

The current DUKE.L Sharpe Ratio is -0.19, which is lower than the R2SC.L Sharpe Ratio of 2.02. The chart below compares the historical Sharpe Ratios of DUKE.L and R2SC.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.

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Drawdowns

DUKE.L vs. R2SC.L - Drawdown Comparison

The maximum DUKE.L drawdown since its inception was -98.28%, which is greater than R2SC.L's maximum drawdown of -44.96%. Use the drawdown chart below to compare losses from any high point for DUKE.L and R2SC.L.

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Drawdown Indicators

DUKE.LR2SC.LDifference

Max Drawdown

Largest peak-to-trough decline

-98.28%

-44.96%

-53.32%

Max Drawdown (1Y)

Largest decline over 1 year

-12.18%

-8.63%

-3.55%

Max Drawdown (3Y)

Largest decline over 3 years

-20.46%

-30.00%

+9.54%

Max Drawdown (5Y)

Largest decline over 5 years

-35.42%

-30.00%

-5.42%

Max Drawdown (10Y)

Largest decline over 10 years

-64.54%

-35.03%

-29.51%

Current Drawdown

Current decline from peak

-95.35%

-3.05%

-92.30%

Average Drawdown

Average peak-to-trough decline

-89.99%

-13.76%

-76.23%

Ulcer Index

Depth and duration of drawdowns from previous peaks

6.62%

3.01%

+3.61%

Volatility

DUKE.L vs. R2SC.L - Volatility Comparison

Duke Royalty Ltd (DUKE.L) has a higher volatility of 6.83% compared to SPDR Russell 2000 US Small Cap UCITS ETF (R2SC.L) at 4.52%. This indicates that DUKE.L's price experiences larger fluctuations and is considered to be riskier than R2SC.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

DUKE.LR2SC.LDifference

Volatility (1M)

Calculated over the trailing 1-month period

6.83%

4.52%

+2.31%

Volatility (6M)

Calculated over the trailing 6-month period

14.33%

12.13%

+2.20%

Volatility (1Y)

Calculated over the trailing 1-year period

20.54%

16.88%

+3.66%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

25.74%

26.09%

-0.35%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

31.32%

23.82%

+7.50%

Dividends

DUKE.L vs. R2SC.L - Dividend Comparison

DUKE.L's dividend yield for the trailing twelve months is around 10.37%, while R2SC.L has not paid dividends to shareholders.

PositionTTM202520242023202220212020201920182017
DUKE.L
Duke Royalty Ltd		10.37%10.37%9.15%8.42%8.18%5.26%4.00%6.00%6.43%4.01%
R2SC.L
SPDR Russell 2000 US Small Cap UCITS ETF		0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%

Frequently Asked Questions

DUKE.L and R2SC.L have a correlation of 0.08, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

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