EURL vs. ASMG

Last updated Jun 24, 2026

EURL (Direxion Daily FTSE Europe Bull 3x Shares) and ASMG (Leverage Shares 2X Long ASML Daily ETF) are both Leveraged Equities funds. EURL is passively managed, while ASMG is actively managed. Over the past year, EURL returned 40.13% vs 284.81% for ASMG. A 0.55 correlation means they provide meaningful diversification when combined. EURL charges 1.07%/yr vs 0.75%/yr for ASMG.

Performance

EURL vs. ASMG - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Direxion Daily FTSE Europe Bull 3x Shares (EURL) and Leverage Shares 2X Long ASML Daily ETF (ASMG). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, EURL achieves a 7.25% return, which is significantly lower than ASMG's 132.71% return.

EURL

• 1D: -4.78%
• 1M: -3.51%
• YTD: 7.25%
• 6M: 6.76%
• 1Y: 40.13%
• 3Y*: 31.43%
• 5Y*: 5.36%
• 10Y*: 11.85%

ASMG

• 1D: -15.76%
• 1M: 13.68%
• YTD: 132.71%
• 6M: 134.72%
• 1Y: 284.81%
• 3Y*: —
• 5Y*: —
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

EURL vs. ASMG - Yearly Performance Comparison

	2026 (YTD)	2025
EURL Direxion Daily FTSE Europe Bull 3x Shares	7.25%	110.51%
ASMG Leverage Shares 2X Long ASML Daily ETF	132.71%	62.68%

Correlation

The correlation between EURL and ASMG is 0.56, 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	0.56
Correlation (All Time) Calculated using the full available price history since Jan 14, 2025	0.55

The correlation between EURL and ASMG has been stable across timeframes, ranging from 0.55 to 0.56 - a consistent structural relationship.

Return for Risk

EURL vs. ASMG — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

EURL

EURL Risk / Return Rank: 26
EURL Sharpe Ratio Rank: 25
EURL Sortino Ratio Rank: 27
EURL Omega Ratio Rank: 26
EURL Calmar Ratio Rank: 26
EURL Martin Ratio Rank: 29

ASMG

ASMG Risk / Return Rank: 86
ASMG Sharpe Ratio Rank: 94
ASMG Sortino Ratio Rank: 77
ASMG Omega Ratio Rank: 71
ASMG Calmar Ratio Rank: 96
ASMG Martin Ratio Rank: 91

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.

EURL vs. ASMG - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Direxion Daily FTSE Europe Bull 3x Shares (EURL) and Leverage Shares 2X Long ASML Daily ETF (ASMG). 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.

	EURL	ASMG	Difference
Sharpe ratio: Return per unit of total volatility	0.84	3.28	-2.44
Sortino ratio: Return per unit of downside risk	1.41	3.14	-1.73
Omega ratio: Gain probability vs. loss probability	1.17	1.39	-0.22
Calmar ratio: Return relative to maximum drawdown	1.22	8.30	-7.08
Martin ratio: Return relative to average drawdown	3.80	20.59	-16.79

EURL vs. ASMG - Sharpe Ratio Comparison

The current EURL Sharpe Ratio is 0.84, which is lower than the ASMG Sharpe Ratio of 3.28. The chart below compares the historical Sharpe Ratios of EURL and ASMG, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

EURL vs. ASMG - Drawdown Comparison

The maximum EURL drawdown since its inception was -84.65%, which is greater than ASMG's maximum drawdown of -43.95%. Use the drawdown chart below to compare losses from any high point for EURL and ASMG.

Drawdown Indicators

	EURL	ASMG	Difference
Max Drawdown Largest peak-to-trough decline	-84.65%	-43.95%	-40.70%
Max Drawdown (1Y) Largest decline over 1 year	-33.05%	-34.56%	+1.51%
Max Drawdown (3Y) Largest decline over 3 years	-38.81%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-75.24%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-84.65%	—	—
Current Drawdown Current decline from peak	-13.96%	-15.94%	+1.98%
Average Drawdown Average peak-to-trough decline	-36.86%	-12.92%	-23.94%
Ulcer Index Depth and duration of drawdowns from previous peaks	10.59%	13.90%	-3.31%

Volatility

EURL vs. ASMG - Volatility Comparison

The current volatility for Direxion Daily FTSE Europe Bull 3x Shares (EURL) is 15.92%, while Leverage Shares 2X Long ASML Daily ETF (ASMG) has a volatility of 37.34%. This indicates that EURL experiences smaller price fluctuations and is considered to be less risky than ASMG based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	EURL	ASMG	Difference
Volatility (1M) Calculated over the trailing 1-month period	15.92%	37.34%	-21.42%
Volatility (6M) Calculated over the trailing 6-month period	40.62%	70.58%	-29.96%
Volatility (1Y) Calculated over the trailing 1-year period	47.94%	87.62%	-39.68%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	53.51%	87.74%	-34.23%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	54.72%	87.74%	-33.02%

EURL vs. ASMG - Expense Ratio Comparison

EURL has a 1.07% expense ratio, which is higher than ASMG's 0.75% expense ratio.

Dividends

EURL vs. ASMG - Dividend Comparison

EURL's dividend yield for the trailing twelve months is around 1.46%, less than ASMG's 4.81% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
ASMG Leverage Shares 2X Long ASML Daily ETF	4.81%	11.20%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
EURL Direxion Daily FTSE Europe Bull 3x Shares	1.46%	1.50%	3.51%	2.50%	1.80%	0.33%	0.41%	1.17%	3.07%	0.38%

Frequently Asked Questions

Can I hold both EURL and ASMG in my portfolio?

EURL and ASMG have a correlation of 0.56, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, EURL or ASMG?

ASMG has higher volatility (37.34%) compared to EURL (15.92%). In terms of maximum drawdown, EURL dropped -84.65% vs ASMG's -43.95%.

Which ETF is better, EURL or ASMG?

On 1-year performance, ASMG leads with 284.81% vs 40.13% for EURL. On fees, ASMG is cheaper at 0.75% per year. On volatility, EURL has been the lower-risk option at 15.92%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, EURL or ASMG?

Over the 1-year period, ASMG has performed better with a 284.81% return vs 40.13%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, EURL or ASMG?

ASMG is cheaper with a 0.75% expense ratio, compared with 1.07% for EURL.

Which ETF pays a higher dividend yield, EURL or ASMG?

ASMG has the higher dividend yield at 4.81%, compared with 1.46% for EURL.

What is the main difference between EURL and ASMG?

They also come from different issuers: Direxion and Leverage Shares. Their fees differ too: 1.07% for EURL and 0.75% for ASMG.

Which has better risk-adjusted returns?

ASMG currently has the higher Sharpe Ratio (3.28 vs 0.84), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.