LYQL.DE vs. DXS3.DE
LYQL.DE (Amundi ShortDAX Daily (-2x) Inverse UCITS ETF (Acc)) and DXS3.DE (Xtrackers S&P 500 Inverse Daily Swap UCITS ETF (Acc)) are both Inverse Equities funds - LYQL.DE tracks the ShortDAX Leverage (2x) Index while DXS3.DE tracks the S&P 500 Short Index. Both are passively managed. Over the past 10 years, LYQL.DE returned -24.43%/yr vs -12.32%/yr for DXS3.DE. A 0.63 correlation means they provide meaningful diversification when combined. LYQL.DE charges 0.60%/yr vs 0.50%/yr for DXS3.DE.
Performance
LYQL.DE vs. DXS3.DE - Performance Comparison
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Returns By Period
In the year-to-date period, LYQL.DE achieves a -11.31% return, which is significantly lower than DXS3.DE's -2.95% return. Over the past 10 years, LYQL.DE has underperformed DXS3.DE with an annualized return of -24.43%, while DXS3.DE has yielded a comparatively higher -12.32% annualized return.
LYQL.DE
- 1D
- -1.53%
- 1M
- -7.52%
- 6M
- -11.31%
- YTD
- -11.31%
- 1Y
- -14.67%
- 3Y*
- -25.51%
- 5Y*
- -20.46%
- 10Y*
- -24.43%
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%
LYQL.DE vs. DXS3.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
LYQL.DE Amundi ShortDAX Daily (-2x) Inverse UCITS ETF (Acc) | -11.31% | -35.38% | -23.89% | -28.00% | 9.49% | -31.50% | -34.43% | -41.46% | 35.68% | -25.44% |
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 LYQL.DE and DXS3.DE is 0.57, 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 | 0.57 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.60 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.67 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.62 |
Correlation (All Time) Calculated using the full available price history since Jun 17, 2010 | 0.63 |
The correlation between LYQL.DE and DXS3.DE has been stable across timeframes, ranging from 0.57 to 0.67 - a consistent structural relationship.
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Return for Risk
LYQL.DE vs. DXS3.DE — Risk / Return Rank
LYQL.DE
DXS3.DE
LYQL.DE vs. DXS3.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Amundi ShortDAX Daily (-2x) Inverse UCITS ETF (Acc) (LYQL.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.
| LYQL.DE | DXS3.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.12 | ||
| Sortino ratioReturn per unit of downside risk | +0.23 | ||
| Omega ratioGain probability vs. loss probability | 0.95 | 0.92 | +0.03 |
| Calmar ratioReturn relative to maximum drawdown | -0.56 | -0.52 | -0.04 |
| Martin ratioReturn relative to average drawdown | -1.26 | -1.00 | -0.26 |
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Drawdowns
LYQL.DE vs. DXS3.DE - Drawdown Comparison
The maximum LYQL.DE drawdown since its inception was -99.14%, 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 LYQL.DE and DXS3.DE.
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Drawdown Indicators
| LYQL.DE | DXS3.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -99.14% | -93.76% | -5.38% |
Max Drawdown (1Y)Largest decline over 1 year | -26.22% | -16.67% | -9.55% |
Max Drawdown (3Y)Largest decline over 3 years | -66.11% | -42.14% | -23.97% |
Max Drawdown (5Y)Largest decline over 5 years | -77.13% | -51.28% | -25.85% |
Max Drawdown (10Y)Largest decline over 10 years | -94.10% | -74.13% | -19.97% |
Current DrawdownCurrent decline from peak | -99.14% | -93.52% | -5.62% |
Average DrawdownAverage peak-to-trough decline | -83.00% | -73.65% | -9.35% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 11.60% | 8.69% | +2.91% |
Volatility
LYQL.DE vs. DXS3.DE - Volatility Comparison
Amundi ShortDAX Daily (-2x) Inverse UCITS ETF (Acc) (LYQL.DE) has a higher volatility of 8.89% compared to Xtrackers S&P 500 Inverse Daily Swap UCITS ETF (Acc) (DXS3.DE) at 4.92%. This indicates that LYQL.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.
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Volatility by Period
| LYQL.DE | DXS3.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 8.89% | 4.92% | +3.97% |
Volatility (6M)Calculated over the trailing 6-month period | 26.96% | 12.21% | +14.75% |
Volatility (1Y)Calculated over the trailing 1-year period | 32.22% | 15.19% | +17.03% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 34.39% | 19.99% | +14.40% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 36.22% | 19.20% | +17.02% |
LYQL.DE vs. DXS3.DE - Expense Ratio Comparison
LYQL.DE has a 0.60% expense ratio, which is higher than DXS3.DE's 0.50% expense ratio.
Dividends
LYQL.DE vs. DXS3.DE - Dividend Comparison
Neither LYQL.DE nor DXS3.DE has paid dividends to shareholders.
Frequently Asked Questions
LYQL.DE and DXS3.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, DXS3.DE is cheaper at 0.50% per year. The better choice depends on whether you care most about return, fees, risk, or income.
DXS3.DE is cheaper with a 0.50% expense ratio, compared with 0.60% for LYQL.DE.
LYQL.DE tracks ShortDAX 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 LYQL.DE and 0.50% for DXS3.DE.
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