LSK8.DE vs. DXS3.DE

Last updated Jul 4, 2026

LSK8.DE (Amundi EURO STOXX 50 Daily (-2x) Inverse UCITS ETF (Acc)) and DXS3.DE (Xtrackers S&P 500 Inverse Daily Swap UCITS ETF (Acc)) are both Inverse Equities funds - LSK8.DE tracks the EURO STOXX 50 Daily Leverage (-2x) Index while DXS3.DE tracks the S&P 500 Short Index. Both are passively managed. Over the past 10 years, LSK8.DE returned -26.27%/yr vs -12.32%/yr for DXS3.DE. A 0.67 correlation means they provide meaningful diversification when combined. LSK8.DE charges 0.60%/yr vs 0.50%/yr for DXS3.DE.

Performance

LSK8.DE vs. DXS3.DE - Performance Comparison

The chart below illustrates the hypothetical performance of a €10,000 investment in Amundi EURO STOXX 50 Daily (-2x) Inverse UCITS ETF (Acc) (LSK8.DE) and Xtrackers S&P 500 Inverse Daily Swap UCITS ETF (Acc) (DXS3.DE). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, LSK8.DE achieves a -23.31% return, which is significantly lower than DXS3.DE's -2.95% return. Over the past 10 years, LSK8.DE has underperformed DXS3.DE with an annualized return of -26.27%, while DXS3.DE has yielded a comparatively higher -12.32% annualized return.

LSK8.DE

• 1D: -1.56%
• 1M: -11.03%
• 6M: -21.93%
• YTD: -23.31%
• 1Y: -34.93%
• 3Y*: -25.33%
• 5Y*: -23.92%
• 10Y*: -26.27%

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%

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

LSK8.DE vs. DXS3.DE - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
LSK8.DE Amundi EURO STOXX 50 Daily (-2x) Inverse UCITS ETF (Acc)	-23.31%	-33.73%	-14.37%	-31.29%	0.76%	-40.00%	-24.40%	-45.71%	18.85%	-22.51%
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%

Correlation

The correlation between LSK8.DE and DXS3.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 Jul 29, 2008	0.67

The correlation between LSK8.DE and DXS3.DE has been stable across timeframes, ranging from 0.62 to 0.70 - a consistent structural relationship.

Return for Risk

LSK8.DE vs. DXS3.DE — Risk / Return Rank

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

LSK8.DE

LSK8.DE Risk / Return Rank: 1
LSK8.DE Sharpe Ratio Rank: 1
LSK8.DE Sortino Ratio Rank: 1
LSK8.DE Omega Ratio Rank: 1
LSK8.DE Calmar Ratio Rank: 1
LSK8.DE Martin Ratio Rank: 0

DXS3.DE

DXS3.DE Risk / Return Rank: 5
DXS3.DE Sharpe Ratio Rank: 5
DXS3.DE Sortino Ratio Rank: 5
DXS3.DE Omega Ratio Rank: 5
DXS3.DE Calmar Ratio Rank: 5
DXS3.DE Martin Ratio Rank: 5

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.

LSK8.DE vs. DXS3.DE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Amundi EURO STOXX 50 Daily (-2x) Inverse UCITS ETF (Acc) (LSK8.DE) and Xtrackers S&P 500 Inverse Daily Swap UCITS ETF (Acc) (DXS3.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.

	LSK8.DE	DXS3.DE	Difference
Sharpe ratio: Return per unit of total volatility	-1.09	-0.57	-0.52
Sortino ratio: Return per unit of downside risk	-1.53	-0.68	-0.85
Omega ratio: Gain probability vs. loss probability	0.82	0.92	-0.10
Calmar ratio: Return relative to maximum drawdown	-0.89	-0.52	-0.37
Martin ratio: Return relative to average drawdown	-1.64	-1.00	-0.64

LSK8.DE vs. DXS3.DE - Sharpe Ratio Comparison

The current LSK8.DE Sharpe Ratio is -1.09, which is lower than the DXS3.DE Sharpe Ratio of -0.57. The chart below compares the historical Sharpe Ratios of LSK8.DE and DXS3.DE, 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

LSK8.DE vs. DXS3.DE - Drawdown Comparison

The maximum LSK8.DE drawdown since its inception was -99.69%, which is greater than DXS3.DE's maximum drawdown of -93.76%. Use the drawdown chart below to compare losses from any high point for LSK8.DE and DXS3.DE.

Drawdown Indicators

	LSK8.DE	DXS3.DE	Difference
Max Drawdown Largest peak-to-trough decline	-99.69%	-93.76%	-5.93%
Max Drawdown (1Y) Largest decline over 1 year	-38.94%	-16.67%	-22.27%
Max Drawdown (3Y) Largest decline over 3 years	-65.42%	-42.14%	-23.28%
Max Drawdown (5Y) Largest decline over 5 years	-79.07%	-51.28%	-27.79%
Max Drawdown (10Y) Largest decline over 10 years	-95.40%	-74.13%	-21.27%
Current Drawdown Current decline from peak	-99.69%	-93.52%	-6.17%
Average Drawdown Average peak-to-trough decline	-87.91%	-73.65%	-14.26%
Ulcer Index Depth and duration of drawdowns from previous peaks	21.21%	8.69%	+12.52%

Volatility

LSK8.DE vs. DXS3.DE - Volatility Comparison

Amundi EURO STOXX 50 Daily (-2x) Inverse UCITS ETF (Acc) (LSK8.DE) has a higher volatility of 7.85% compared to Xtrackers S&P 500 Inverse Daily Swap UCITS ETF (Acc) (DXS3.DE) at 4.92%. This indicates that LSK8.DE's price experiences larger fluctuations and is considered to be riskier than DXS3.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	LSK8.DE	DXS3.DE	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.85%	4.92%	+2.93%
Volatility (6M) Calculated over the trailing 6-month period	26.87%	12.21%	+14.66%
Volatility (1Y) Calculated over the trailing 1-year period	31.93%	15.19%	+16.74%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	35.09%	19.99%	+15.10%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	35.82%	19.20%	+16.62%

LSK8.DE vs. DXS3.DE - Expense Ratio Comparison

LSK8.DE has a 0.60% expense ratio, which is higher than DXS3.DE's 0.50% expense ratio.

Dividends

LSK8.DE vs. DXS3.DE - Dividend Comparison

Neither LSK8.DE nor DXS3.DE has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both LSK8.DE and DXS3.DE in my portfolio?

LSK8.DE and DXS3.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.

Which ETF is better, LSK8.DE or DXS3.DE?

On fees, DXS3.DE is cheaper at 0.50% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, LSK8.DE or DXS3.DE?

DXS3.DE is cheaper with a 0.50% expense ratio, compared with 0.60% for LSK8.DE.

What is the main difference between LSK8.DE and DXS3.DE?

LSK8.DE tracks EURO STOXX 50 Daily Leverage (-2x) Index, while DXS3.DE tracks S&P 500 Short Index. They also come from different issuers: Amundi and Xtrackers. Their fees differ too: 0.60% for LSK8.DE and 0.50% for DXS3.DE.