LUK2.L vs. SMGB.L
LUK2.L (L&G FTSE 100 Leveraged (Daily 2x) UCITS ETF) and SMGB.L (VanEck Semiconductor UCITS ETF) are both exchange-traded funds - LUK2.L is a Technology Equities fund tracking the L&G FTSE 100 Leveraged (Daily 2x) UCITS ETF, while SMGB.L is a Semiconductors fund tracking the MarketVector US Listed Semiconductor 10% Capped Screened Index. Both are passively managed. Over the past 5 years, LUK2.L returned 16.82%/yr vs 36.22%/yr for SMGB.L. At a 0.38 correlation, their price movements are largely independent. LUK2.L charges 0.50%/yr vs 0.35%/yr for SMGB.L.
Performance
LUK2.L vs. SMGB.L - Performance Comparison
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Different Trading Currencies
LUK2.L is traded in GBp, while SMGB.L is traded in GBP. To make them comparable, the SMGB.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 lower than SMGB.L's 76.18% 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%
SMGB.L
- 1D
- -4.19%
- 1M
- -9.43%
- 6M
- 62.45%
- YTD
- 76.18%
- 1Y
- 122.30%
- 3Y*
- 52.80%
- 5Y*
- 36.22%
- 10Y*
- —
LUK2.L vs. SMGB.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
LUK2.L L&G FTSE 100 Leveraged (Daily 2x) UCITS ETF | 10.52% | 43.73% | 9.81% | 6.59% | 3.75% | 34.76% | -3.46% |
SMGB.L VanEck Semiconductor UCITS ETF | 76.18% | 38.79% | 26.32% | 66.15% | -27.78% | 44.41% | -0.72% |
Correlation
The correlation between LUK2.L and SMGB.L is 0.27, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.27 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.30 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.37 |
Correlation (All Time) Calculated using the full available price history since Dec 10, 2020 | 0.38 |
The correlation between LUK2.L and SMGB.L shifts across timeframes, from 0.27 (1 year) to 0.38 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
LUK2.L vs. SMGB.L — Risk / Return Rank
LUK2.L
SMGB.L
LUK2.L vs. SMGB.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 VanEck Semiconductor UCITS ETF (SMGB.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 | SMGB.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.87 | ||
| Sortino ratioReturn per unit of downside risk | -1.62 | ||
| Omega ratioGain probability vs. loss probability | 1.28 | 1.48 | -0.20 |
| Calmar ratioReturn relative to maximum drawdown | 1.84 | 8.37 | -6.53 |
| Martin ratioReturn relative to average drawdown | 5.39 | 28.90 | -23.51 |
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Drawdowns
LUK2.L vs. SMGB.L - Drawdown Comparison
The maximum LUK2.L drawdown since its inception was -58.84%, which is greater than SMGB.L's maximum drawdown of -36.23%. Use the drawdown chart below to compare losses from any high point for LUK2.L and SMGB.L.
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Drawdown Indicators
| LUK2.L | SMGB.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -58.84% | -36.23% | -22.61% |
Max Drawdown (1Y)Largest decline over 1 year | -18.55% | -14.52% | -4.03% |
Max Drawdown (3Y)Largest decline over 3 years | -25.42% | -36.23% | +10.81% |
Max Drawdown (5Y)Largest decline over 5 years | -25.42% | -36.23% | +10.81% |
Max Drawdown (10Y)Largest decline over 10 years | -58.84% | — | — |
Current DrawdownCurrent decline from peak | -8.09% | -13.53% | +5.44% |
Average DrawdownAverage peak-to-trough decline | -10.68% | -9.77% | -0.91% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 6.34% | 4.22% | +2.12% |
Volatility
LUK2.L vs. SMGB.L - Volatility Comparison
The current volatility for L&G FTSE 100 Leveraged (Daily 2x) UCITS ETF (LUK2.L) is 6.11%, while VanEck Semiconductor UCITS ETF (SMGB.L) has a volatility of 16.71%. This indicates that LUK2.L experiences smaller price fluctuations and is considered to be less risky than SMGB.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| LUK2.L | SMGB.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.11% | 16.71% | -10.60% |
Volatility (6M)Calculated over the trailing 6-month period | 19.64% | 29.79% | -10.15% |
Volatility (1Y)Calculated over the trailing 1-year period | 22.61% | 36.04% | -13.43% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 25.61% | 31.55% | -5.94% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 29.65% | 30.99% | -1.34% |
LUK2.L vs. SMGB.L - Expense Ratio Comparison
LUK2.L has a 0.50% expense ratio, which is higher than SMGB.L's 0.35% expense ratio.
Dividends
LUK2.L vs. SMGB.L - Dividend Comparison
Neither LUK2.L nor SMGB.L has paid dividends to shareholders.
Frequently Asked Questions
LUK2.L and SMGB.L have a correlation of 0.27, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, SMGB.L is cheaper at 0.35% per year. The better choice depends on whether you care most about return, fees, risk, or income.
SMGB.L is cheaper with a 0.35% expense ratio, compared with 0.50% for LUK2.L.
LUK2.L is categorized as Technology Equities, while SMGB.L is Semiconductors. LUK2.L tracks L&G FTSE 100 Leveraged (Daily 2x) UCITS ETF, while SMGB.L tracks MarketVector US Listed Semiconductor 10% Capped Screened Index. They also come from different issuers: L&G and VanEck. Their fees differ too: 0.50% for LUK2.L and 0.35% for SMGB.L.
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