ETLZ.DE vs. DES2.DE
ETLZ.DE (L&G Russell 2000 US Small Cap Quality UCITS ETF USD Acc) and DES2.DE (L&G DAX Daily 2x Short UCITS ETF) are both exchange-traded funds - ETLZ.DE is a Small Cap Blend Equities fund tracking the Russell 2000 0.4 Quality Target Exposure Factor Net Tax Index, while DES2.DE is a Inverse Equities fund tracking the ShortDAX x2 Index. Both are passively managed. Over the past 10 years, ETLZ.DE returned 10.75%/yr vs -23.52%/yr for DES2.DE. At a correlation of -0.61, they often move in opposite directions. ETLZ.DE charges 0.30%/yr vs 0.50%/yr for DES2.DE.
Performance
ETLZ.DE vs. DES2.DE - Performance Comparison
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Returns By Period
In the year-to-date period, ETLZ.DE achieves a 21.33% return, which is significantly higher than DES2.DE's -6.55% return. Over the past 10 years, ETLZ.DE has outperformed DES2.DE with an annualized return of 10.75%, while DES2.DE has yielded a comparatively lower -23.52% annualized return.
ETLZ.DE
- 1D
- -0.66%
- 1M
- 1.72%
- 6M
- 15.70%
- YTD
- 21.33%
- 1Y
- 34.15%
- 3Y*
- 14.90%
- 5Y*
- 9.00%
- 10Y*
- 10.75%
DES2.DE
- 1D
- -0.04%
- 1M
- -0.78%
- 6M
- -0.76%
- YTD
- -6.55%
- 1Y
- -9.77%
- 3Y*
- -24.72%
- 5Y*
- -20.23%
- 10Y*
- -23.52%
ETLZ.DE vs. DES2.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
ETLZ.DE L&G Russell 2000 US Small Cap Quality UCITS ETF USD Acc | 21.33% | 0.32% | 15.12% | 16.03% | -14.22% | 30.61% | 8.11% | 28.84% | -9.27% | 0.58% |
DES2.DE L&G DAX Daily 2x Short UCITS ETF | -6.55% | -35.92% | -24.73% | -28.32% | 8.81% | -31.47% | -34.46% | -41.49% | 35.04% | -25.95% |
Correlation
The correlation between ETLZ.DE and DES2.DE is -0.57, 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 | -0.57 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.55 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.60 |
Correlation (10Y) Calculated over the trailing 10-year period | -0.63 |
Correlation (All Time) Calculated using the full available price history since Nov 13, 2009 | -0.61 |
The correlation between ETLZ.DE and DES2.DE has been stable across timeframes, ranging from -0.63 to -0.55 - a consistent structural relationship.
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Return for Risk
ETLZ.DE vs. DES2.DE — Risk / Return Rank
ETLZ.DE
DES2.DE
ETLZ.DE vs. DES2.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for L&G Russell 2000 US Small Cap Quality UCITS ETF USD Acc (ETLZ.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.
| ETLZ.DE | DES2.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +2.61 | ||
| Sortino ratioReturn per unit of downside risk | +3.44 | ||
| Omega ratioGain probability vs. loss probability | 1.39 | 0.97 | +0.42 |
| Calmar ratioReturn relative to maximum drawdown | 5.33 | -0.39 | +5.72 |
| Martin ratioReturn relative to average drawdown | 15.94 | -0.82 | +16.76 |
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Drawdowns
ETLZ.DE vs. DES2.DE - Drawdown Comparison
The maximum ETLZ.DE drawdown since its inception was -58.36%, smaller than the maximum DES2.DE drawdown of -99.34%. Use the drawdown chart below to compare losses from any high point for ETLZ.DE and DES2.DE.
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Drawdown Indicators
| ETLZ.DE | DES2.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -58.36% | -99.34% | +40.98% |
Max Drawdown (1Y)Largest decline over 1 year | -7.04% | -26.29% | +19.25% |
Max Drawdown (3Y)Largest decline over 3 years | -31.34% | -66.97% | +35.63% |
Max Drawdown (5Y)Largest decline over 5 years | -31.34% | -77.94% | +46.60% |
Max Drawdown (10Y)Largest decline over 10 years | -41.01% | -93.68% | +52.67% |
Current DrawdownCurrent decline from peak | -2.30% | -99.30% | +97.00% |
Average DrawdownAverage peak-to-trough decline | -10.71% | -83.29% | +72.58% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.35% | 12.43% | -10.08% |
Volatility
ETLZ.DE vs. DES2.DE - Volatility Comparison
The current volatility for L&G Russell 2000 US Small Cap Quality UCITS ETF USD Acc (ETLZ.DE) is 4.22%, while L&G DAX Daily 2x Short UCITS ETF (DES2.DE) has a volatility of 9.14%. This indicates that ETLZ.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
| ETLZ.DE | DES2.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.22% | 9.14% | -4.92% |
Volatility (6M)Calculated over the trailing 6-month period | 11.22% | 27.38% | -16.16% |
Volatility (1Y)Calculated over the trailing 1-year period | 16.57% | 32.32% | -15.75% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 19.97% | 34.54% | -14.57% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 21.00% | 36.31% | -15.31% |
ETLZ.DE vs. DES2.DE - Expense Ratio Comparison
ETLZ.DE has a 0.30% expense ratio, which is lower than DES2.DE's 0.50% expense ratio.
Dividends
ETLZ.DE vs. DES2.DE - Dividend Comparison
Neither ETLZ.DE nor DES2.DE has paid dividends to shareholders.
Frequently Asked Questions
ETLZ.DE and DES2.DE have a correlation of -0.57, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, ETLZ.DE is cheaper at 0.30% per year. The better choice depends on whether you care most about return, fees, risk, or income.
ETLZ.DE is cheaper with a 0.30% expense ratio, compared with 0.50% for DES2.DE.
ETLZ.DE is categorized as Small Cap Blend Equities, while DES2.DE is Inverse Equities. ETLZ.DE tracks Russell 2000 0.4 Quality Target Exposure Factor Net Tax Index, while DES2.DE tracks ShortDAX x2 Index. Their fees differ too: 0.30% for ETLZ.DE and 0.50% for DES2.DE.
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