LUK2.L vs. DEL2.L

Last updated Jul 16, 2026

LUK2.L (L&G FTSE 100 Leveraged (Daily 2x) UCITS ETF) and DEL2.L (L&G DAX Daily 2x Long UCITS ETF EUR (Acc)) are both exchange-traded funds - LUK2.L is a Technology Equities fund tracking the L&G FTSE 100 Leveraged (Daily 2x) UCITS ETF, while DEL2.L is a Leveraged Equities fund tracking the LevDAX x2 Index Gross TR EUR. Both are passively managed. Over the past 10 years, LUK2.L returned 10.28%/yr vs 12.96%/yr for DEL2.L. A 0.77 correlation means they provide meaningful diversification when combined. LUK2.L charges 0.50%/yr vs 0.40%/yr for DEL2.L.

Performance

LUK2.L vs. DEL2.L - Performance Comparison

The chart below illustrates the hypothetical performance of a £10,000 investment in L&G FTSE 100 Leveraged (Daily 2x) UCITS ETF (LUK2.L) and L&G DAX Daily 2x Long UCITS ETF EUR (Acc) (DEL2.L). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

LUK2.L is traded in GBp, while DEL2.L is traded in EUR. To make them comparable, the DEL2.L values have been converted to GBp using the latest available exchange rates.

Returns By Period

In the year-to-date period, LUK2.L achieves a 10.52% return, which is significantly higher than DEL2.L's -3.16% return. Over the past 10 years, LUK2.L has underperformed DEL2.L with an annualized return of 10.28%, while DEL2.L has yielded a comparatively higher 12.96% annualized return.

LUK2.L

• 1D: -0.45%
• 1M: 0.70%
• 6M: 5.28%
• YTD: 10.52%
• 1Y: 34.49%
• 3Y*: 23.66%
• 5Y*: 16.82%
• 10Y*: 10.28%

DEL2.L

• 1D: 0.00%
• 1M: -1.65%
• 6M: -8.69%
• YTD: -3.16%
• 1Y: -2.59%
• 3Y*: 23.12%
• 5Y*: 12.14%
• 10Y*: 12.96%

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

LUK2.L vs. DEL2.L - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
LUK2.L L&G FTSE 100 Leveraged (Daily 2x) UCITS ETF	10.52%	43.73%	9.81%	6.59%	3.75%	34.76%	-30.43%	32.52%	-20.70%	22.28%
DEL2.L L&G DAX Daily 2x Long UCITS ETF EUR (Acc)	-3.16%	44.60%	25.67%	31.99%	-23.97%	22.32%	1.42%	37.83%	-35.00%	33.24%

Correlation

The correlation between LUK2.L and DEL2.L is 0.64, 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	0.64
Correlation (3Y) Calculated over the trailing 3-year period	0.65
Correlation (5Y) Calculated over the trailing 5-year period	0.70
Correlation (10Y) Calculated over the trailing 10-year period	0.73
Correlation (All Time) Calculated using the full available price history since Jun 18, 2009	0.77

The correlation between LUK2.L and DEL2.L shifts across timeframes, from 0.64 (1 year) to 0.77 (all time), reflecting how their relationship changes across market environments.

Return for Risk

LUK2.L vs. DEL2.L — Risk / Return Rank

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

LUK2.L

LUK2.L Risk / Return Rank: 49
LUK2.L Sharpe Ratio Rank: 54
LUK2.L Sortino Ratio Rank: 52
LUK2.L Omega Ratio Rank: 54
LUK2.L Calmar Ratio Rank: 44
LUK2.L Martin Ratio Rank: 41

DEL2.L

DEL2.L Risk / Return Rank: 9
DEL2.L Sharpe Ratio Rank: 9
DEL2.L Sortino Ratio Rank: 10
DEL2.L Omega Ratio Rank: 9
DEL2.L Calmar Ratio Rank: 9
DEL2.L Martin Ratio Rank: 9

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.

LUK2.L vs. DEL2.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for L&G FTSE 100 Leveraged (Daily 2x) UCITS ETF (LUK2.L) and L&G DAX Daily 2x Long UCITS ETF EUR (Acc) (DEL2.L). 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.

	LUK2.L	DEL2.L	Difference
Sharpe ratio: Return per unit of total volatility	1.51	-0.08	+1.59
Sortino ratio: Return per unit of downside risk	2.09	0.12	+1.98
Omega ratio: Gain probability vs. loss probability	1.28	1.01	+0.26
Calmar ratio: Return relative to maximum drawdown	1.84	-0.10	+1.94
Martin ratio: Return relative to average drawdown	5.39	-0.31	+5.70

LUK2.L vs. DEL2.L - Sharpe Ratio Comparison

The current LUK2.L Sharpe Ratio is 1.51, which is higher than the DEL2.L Sharpe Ratio of -0.08. The chart below compares the historical Sharpe Ratios of LUK2.L and DEL2.L, 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

LUK2.L vs. DEL2.L - Drawdown Comparison

The maximum LUK2.L drawdown since its inception was -58.84%, smaller than the maximum DEL2.L drawdown of -62.23%. Use the drawdown chart below to compare losses from any high point for LUK2.L and DEL2.L.

Drawdown Indicators

	LUK2.L	DEL2.L	Difference
Max Drawdown Largest peak-to-trough decline	-58.84%	-62.23%	+3.39%
Max Drawdown (1Y) Largest decline over 1 year	-18.55%	-27.04%	+8.49%
Max Drawdown (3Y) Largest decline over 3 years	-25.42%	-28.87%	+3.45%
Max Drawdown (5Y) Largest decline over 5 years	-25.42%	-46.74%	+21.32%
Max Drawdown (10Y) Largest decline over 10 years	-58.84%	-62.23%	+3.39%
Current Drawdown Current decline from peak	-8.09%	-9.58%	+1.49%
Average Drawdown Average peak-to-trough decline	-10.68%	-16.01%	+5.33%
Ulcer Index Depth and duration of drawdowns from previous peaks	6.34%	8.63%	-2.29%

Volatility

LUK2.L vs. DEL2.L - Volatility Comparison

The current volatility for L&G FTSE 100 Leveraged (Daily 2x) UCITS ETF (LUK2.L) is 6.11%, while L&G DAX Daily 2x Long UCITS ETF EUR (Acc) (DEL2.L) has a volatility of 9.31%. This indicates that LUK2.L experiences smaller price fluctuations and is considered to be less risky than DEL2.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	LUK2.L	DEL2.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.11%	9.31%	-3.20%
Volatility (6M) Calculated over the trailing 6-month period	19.64%	27.90%	-8.26%
Volatility (1Y) Calculated over the trailing 1-year period	22.61%	32.70%	-10.09%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	25.61%	34.12%	-8.51%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	29.65%	35.70%	-6.05%

LUK2.L vs. DEL2.L - Expense Ratio Comparison

LUK2.L has a 0.50% expense ratio, which is higher than DEL2.L's 0.40% expense ratio.

Dividends

LUK2.L vs. DEL2.L - Dividend Comparison

Neither LUK2.L nor DEL2.L has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both LUK2.L and DEL2.L in my portfolio?

LUK2.L and DEL2.L have a correlation of 0.64, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, LUK2.L or DEL2.L?

On fees, DEL2.L is cheaper at 0.40% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, LUK2.L or DEL2.L?

DEL2.L is cheaper with a 0.40% expense ratio, compared with 0.50% for LUK2.L.

What is the main difference between LUK2.L and DEL2.L?

LUK2.L is categorized as Technology Equities, while DEL2.L is Leveraged Equities. LUK2.L tracks L&G FTSE 100 Leveraged (Daily 2x) UCITS ETF, while DEL2.L tracks LevDAX x2 Index Gross TR EUR. Their fees differ too: 0.50% for LUK2.L and 0.40% for DEL2.L.