DXSP.DE vs. DES2.DE
DXSP.DE (Xtrackers Euro Stoxx 50 Short Daily Swap UCITS ETF (Acc)) and DES2.DE (L&G DAX Daily 2x Short UCITS ETF) are both Inverse Equities funds - DXSP.DE tracks the EURO STOXX 50 Short Index while DES2.DE tracks the ShortDAX x2 Index. Both are passively managed. Over the past 10 years, DXSP.DE returned -11.71%/yr vs -23.54%/yr for DES2.DE. Their correlation of 0.93 suggests significant overlap in exposure. DXSP.DE charges 0.40%/yr vs 0.50%/yr for DES2.DE.
Performance
DXSP.DE vs. DES2.DE - Performance Comparison
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Returns By Period
In the year-to-date period, DXSP.DE achieves a -8.36% return, which is significantly lower than DES2.DE's -5.08% return. Over the past 10 years, DXSP.DE has outperformed DES2.DE with an annualized return of -11.71%, while DES2.DE has yielded a comparatively lower -23.54% annualized return.
DXSP.DE
- 1D
- 0.77%
- 1M
- 1.15%
- 6M
- -4.88%
- YTD
- -8.36%
- 1Y
- -14.33%
- 3Y*
- -10.47%
- 5Y*
- -10.17%
- 10Y*
- -11.71%
DES2.DE
- 1D
- 0.69%
- 1M
- 1.00%
- 6M
- 0.85%
- YTD
- -5.08%
- 1Y
- -6.12%
- 3Y*
- -24.13%
- 5Y*
- -19.98%
- 10Y*
- -23.54%
DXSP.DE vs. DES2.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
DXSP.DE Xtrackers Euro Stoxx 50 Short Daily Swap UCITS ETF (Acc) | -8.36% | -16.45% | -4.98% | -15.04% | 3.40% | -21.77% | -8.52% | -25.52% | 9.97% | -11.86% |
DES2.DE L&G DAX Daily 2x Short UCITS ETF | -5.08% | -35.92% | -24.73% | -28.32% | 8.81% | -31.47% | -34.46% | -41.49% | 35.04% | -25.95% |
Correlation
The correlation between DXSP.DE and DES2.DE is 0.90, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.90 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.91 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.93 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.93 |
Correlation (All Time) Calculated using the full available price history since Nov 13, 2009 | 0.93 |
The correlation between DXSP.DE and DES2.DE has been stable across timeframes, ranging from 0.90 to 0.93 - a consistent structural relationship.
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Return for Risk
DXSP.DE vs. DES2.DE — Risk / Return Rank
DXSP.DE
DES2.DE
DXSP.DE vs. DES2.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Xtrackers Euro Stoxx 50 Short Daily Swap UCITS ETF (Acc) (DXSP.DE) and L&G DAX Daily 2x Short UCITS ETF (DES2.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.
| DXSP.DE | DES2.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.70 | ||
| Sortino ratioReturn per unit of downside risk | -1.11 | ||
| Omega ratioGain probability vs. loss probability | 0.86 | 0.99 | -0.13 |
| Calmar ratioReturn relative to maximum drawdown | -0.71 | -0.23 | -0.48 |
| Martin ratioReturn relative to average drawdown | -1.29 | -0.49 | -0.80 |
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Drawdowns
DXSP.DE vs. DES2.DE - Drawdown Comparison
The maximum DXSP.DE drawdown since its inception was -91.81%, smaller than the maximum DES2.DE drawdown of -99.34%. Use the drawdown chart below to compare losses from any high point for DXSP.DE and DES2.DE.
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Drawdown Indicators
| DXSP.DE | DES2.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -91.81% | -99.34% | +7.53% |
Max Drawdown (1Y)Largest decline over 1 year | -20.03% | -26.29% | +6.26% |
Max Drawdown (3Y)Largest decline over 3 years | -36.76% | -66.97% | +30.21% |
Max Drawdown (5Y)Largest decline over 5 years | -48.59% | -77.94% | +29.35% |
Max Drawdown (10Y)Largest decline over 10 years | -72.21% | -93.47% | +21.26% |
Current DrawdownCurrent decline from peak | -91.57% | -99.29% | +7.72% |
Average DrawdownAverage peak-to-trough decline | -65.10% | -83.30% | +18.20% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 11.13% | 12.50% | -1.37% |
Volatility
DXSP.DE vs. DES2.DE - Volatility Comparison
The current volatility for Xtrackers Euro Stoxx 50 Short Daily Swap UCITS ETF (Acc) (DXSP.DE) is 4.01%, while L&G DAX Daily 2x Short UCITS ETF (DES2.DE) has a volatility of 9.19%. This indicates that DXSP.DE experiences smaller price fluctuations and is considered to be less risky than DES2.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| DXSP.DE | DES2.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.01% | 9.19% | -5.18% |
Volatility (6M)Calculated over the trailing 6-month period | 13.52% | 27.27% | -13.75% |
Volatility (1Y)Calculated over the trailing 1-year period | 16.12% | 32.34% | -16.22% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.58% | 34.53% | -16.95% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.93% | 36.31% | -18.38% |
DXSP.DE vs. DES2.DE - Expense Ratio Comparison
DXSP.DE has a 0.40% expense ratio, which is lower than DES2.DE's 0.50% expense ratio.
Dividends
DXSP.DE vs. DES2.DE - Dividend Comparison
Neither DXSP.DE nor DES2.DE has paid dividends to shareholders.
Frequently Asked Questions
DXSP.DE and DES2.DE have a correlation of 0.90, 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 DES2.DE.
DXSP.DE tracks EURO STOXX 50 Short Index, while DES2.DE tracks ShortDAX x2 Index. They also come from different issuers: Xtrackers and L&G. Their fees differ too: 0.40% for DXSP.DE and 0.50% for DES2.DE.
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