DXS3.DE vs. DXSP.DE
DXS3.DE (Xtrackers S&P 500 Inverse Daily Swap UCITS ETF (Acc)) and DXSP.DE (Xtrackers Euro Stoxx 50 Short Daily Swap UCITS ETF (Acc)) are both Inverse Equities funds from Xtrackers - DXS3.DE tracks the S&P 500 Short Index while DXSP.DE tracks the EURO STOXX 50 Short Index. Both are passively managed. Over the past 10 years, DXS3.DE returned -12.32%/yr vs -12.36%/yr for DXSP.DE. A 0.67 correlation means they provide meaningful diversification when combined. DXS3.DE charges 0.50%/yr vs 0.40%/yr for DXSP.DE.
Performance
DXS3.DE vs. DXSP.DE - Performance Comparison
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Returns By Period
In the year-to-date period, DXS3.DE achieves a -2.95% return, which is significantly higher than DXSP.DE's -10.98% return. Both investments have delivered pretty close results over the past 10 years, with DXS3.DE having a -12.32% annualized return and DXSP.DE not far behind at -12.36%.
DXS3.DE
- 1D
- 0.00%
- 1M
- 2.92%
- 6M
- -3.90%
- YTD
- -2.95%
- 1Y
- -8.70%
- 3Y*
- -11.94%
- 5Y*
- -6.72%
- 10Y*
- -12.32%
DXSP.DE
- 1D
- -0.78%
- 1M
- -5.37%
- 6M
- -10.19%
- YTD
- -10.98%
- 1Y
- -17.31%
- 3Y*
- -11.17%
- 5Y*
- -10.52%
- 10Y*
- -12.36%
DXS3.DE vs. DXSP.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
DXS3.DE Xtrackers S&P 500 Inverse Daily Swap UCITS ETF (Acc) | -2.95% | -20.25% | -7.55% | -17.29% | 27.96% | -17.91% | -30.56% | -19.86% | 11.68% | -27.38% |
DXSP.DE Xtrackers Euro Stoxx 50 Short Daily Swap UCITS ETF (Acc) | -10.98% | -16.45% | -4.98% | -15.04% | 3.40% | -21.77% | -8.52% | -25.52% | 9.97% | -11.86% |
Correlation
The correlation between DXS3.DE and DXSP.DE is 0.62, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.62 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.64 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.70 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.65 |
Correlation (All Time) Calculated using the full available price history since Jan 15, 2008 | 0.67 |
The correlation between DXS3.DE and DXSP.DE has been stable across timeframes, ranging from 0.62 to 0.70 - a consistent structural relationship.
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Return for Risk
DXS3.DE vs. DXSP.DE — Risk / Return Rank
DXS3.DE
DXSP.DE
DXS3.DE vs. DXSP.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Xtrackers S&P 500 Inverse Daily Swap UCITS ETF (Acc) (DXS3.DE) and Xtrackers Euro Stoxx 50 Short Daily Swap UCITS ETF (Acc) (DXSP.DE). 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.
| DXS3.DE | DXSP.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.50 | ||
| Sortino ratioReturn per unit of downside risk | +0.75 | ||
| Omega ratioGain probability vs. loss probability | 0.92 | 0.83 | +0.09 |
| Calmar ratioReturn relative to maximum drawdown | -0.52 | -0.86 | +0.34 |
| Martin ratioReturn relative to average drawdown | -1.00 | -1.64 | +0.64 |
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Drawdowns
DXS3.DE vs. DXSP.DE - Drawdown Comparison
The maximum DXS3.DE drawdown since its inception was -93.76%, roughly equal to the maximum DXSP.DE drawdown of -91.81%. Use the drawdown chart below to compare losses from any high point for DXS3.DE and DXSP.DE.
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Drawdown Indicators
| DXS3.DE | DXSP.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -93.76% | -91.81% | -1.95% |
Max Drawdown (1Y)Largest decline over 1 year | -16.67% | -20.03% | +3.36% |
Max Drawdown (3Y)Largest decline over 3 years | -42.14% | -36.76% | -5.38% |
Max Drawdown (5Y)Largest decline over 5 years | -51.28% | -48.59% | -2.69% |
Max Drawdown (10Y)Largest decline over 10 years | -74.13% | -73.71% | -0.42% |
Current DrawdownCurrent decline from peak | -93.52% | -91.81% | -1.71% |
Average DrawdownAverage peak-to-trough decline | -73.65% | -65.04% | -8.61% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 8.69% | 10.51% | -1.82% |
Volatility
DXS3.DE vs. DXSP.DE - Volatility Comparison
Xtrackers S&P 500 Inverse Daily Swap UCITS ETF (Acc) (DXS3.DE) has a higher volatility of 4.92% compared to Xtrackers Euro Stoxx 50 Short Daily Swap UCITS ETF (Acc) (DXSP.DE) at 3.80%. This indicates that DXS3.DE's price experiences larger fluctuations and is considered to be riskier than DXSP.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| DXS3.DE | DXSP.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.92% | 3.80% | +1.12% |
Volatility (6M)Calculated over the trailing 6-month period | 12.21% | 13.48% | -1.27% |
Volatility (1Y)Calculated over the trailing 1-year period | 15.19% | 16.08% | -0.89% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 19.99% | 17.59% | +2.40% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 19.20% | 17.96% | +1.24% |
DXS3.DE vs. DXSP.DE - Expense Ratio Comparison
DXS3.DE has a 0.50% expense ratio, which is higher than DXSP.DE's 0.40% expense ratio.
Dividends
DXS3.DE vs. DXSP.DE - Dividend Comparison
Neither DXS3.DE nor DXSP.DE has paid dividends to shareholders.
Frequently Asked Questions
DXS3.DE and DXSP.DE have a correlation of 0.62, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, DXSP.DE is cheaper at 0.40% per year. The better choice depends on whether you care most about return, fees, risk, or income.
DXSP.DE is cheaper with a 0.40% expense ratio, compared with 0.50% for DXS3.DE.
DXS3.DE tracks S&P 500 Short Index, while DXSP.DE tracks EURO STOXX 50 Short Index. Their fees differ too: 0.50% for DXS3.DE and 0.40% for DXSP.DE.
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