SUK2.L vs. LDEU.L
SUK2.L (L&G FTSE 100 Super Short Strategy (Daily 2x) UCITS ETF GBP (Acc)) and LDEU.L (L&G Europe ex-UK Quality Dividends Equal Weight UCITS ETF EUR (Dist)) are both exchange-traded funds - SUK2.L is a Inverse Equities fund tracking the FTSE 100 Daily Super Short Strategy Index, while LDEU.L is a Europe Equities fund tracking the FTSE Developed Europe ex UK All Cap ex CW ex TC ex REITS Dividend Growth with Quality Net Tax Index. Both are passively managed. Over the past 5 years, SUK2.L returned -17.69%/yr vs 16.94%/yr for LDEU.L. At a correlation of -0.73, they often move in opposite directions. SUK2.L charges 0.60%/yr vs 0.25%/yr for LDEU.L.
Performance
SUK2.L vs. LDEU.L - Performance Comparison
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Different Trading Currencies
SUK2.L is traded in GBp, while LDEU.L is traded in EUR. To make them comparable, the LDEU.L values have been converted to GBp using the latest available exchange rates.
Returns By Period
In the year-to-date period, SUK2.L achieves a -12.71% return, which is significantly lower than LDEU.L's 12.58% return.
SUK2.L
- 1D
- -0.43%
- 1M
- -1.24%
- 6M
- -7.72%
- YTD
- -12.71%
- 1Y
- -27.94%
- 3Y*
- -19.62%
- 5Y*
- -17.69%
- 10Y*
- -17.07%
LDEU.L
- 1D
- 0.29%
- 1M
- -1.06%
- 6M
- 9.88%
- YTD
- 12.58%
- 1Y
- 27.34%
- 3Y*
- 24.57%
- 5Y*
- 16.94%
- 10Y*
- —
SUK2.L vs. LDEU.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
SUK2.L L&G FTSE 100 Super Short Strategy (Daily 2x) UCITS ETF GBP (Acc) | -12.71% | -32.13% | -6.81% | -6.41% | -13.97% | -19.48% |
LDEU.L L&G Europe ex-UK Quality Dividends Equal Weight UCITS ETF EUR (Dist) | 12.58% | 44.92% | 9.43% | 14.43% | 1.84% | 5.93% |
Correlation
The correlation between SUK2.L and LDEU.L is -0.71, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.71 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.71 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.73 |
Correlation (All Time) Calculated using the full available price history since Apr 12, 2021 | -0.73 |
The correlation between SUK2.L and LDEU.L has been stable across timeframes, ranging from -0.73 to -0.71 - a consistent structural relationship.
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Return for Risk
SUK2.L vs. LDEU.L — Risk / Return Rank
SUK2.L
LDEU.L
SUK2.L vs. LDEU.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for L&G FTSE 100 Super Short Strategy (Daily 2x) UCITS ETF GBP (Acc) (SUK2.L) and L&G Europe ex-UK Quality Dividends Equal Weight UCITS ETF EUR (Dist) (LDEU.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.
| SUK2.L | LDEU.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -3.55 | ||
| Sortino ratioReturn per unit of downside risk | -4.93 | ||
| Omega ratioGain probability vs. loss probability | 0.80 | 1.41 | -0.61 |
| Calmar ratioReturn relative to maximum drawdown | -0.91 | 3.44 | -4.35 |
| Martin ratioReturn relative to average drawdown | -1.45 | 12.17 | -13.62 |
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Drawdowns
SUK2.L vs. LDEU.L - Drawdown Comparison
The maximum SUK2.L drawdown since its inception was -98.38%, which is greater than LDEU.L's maximum drawdown of -17.44%. Use the drawdown chart below to compare losses from any high point for SUK2.L and LDEU.L.
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Drawdown Indicators
| SUK2.L | LDEU.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -98.38% | -17.44% | -80.94% |
Max Drawdown (1Y)Largest decline over 1 year | -30.53% | -7.91% | -22.62% |
Max Drawdown (3Y)Largest decline over 3 years | -52.62% | -13.34% | -39.28% |
Max Drawdown (5Y)Largest decline over 5 years | -65.37% | -17.44% | -47.93% |
Max Drawdown (10Y)Largest decline over 10 years | -86.18% | — | — |
Current DrawdownCurrent decline from peak | -98.31% | -1.06% | -97.25% |
Average DrawdownAverage peak-to-trough decline | -84.98% | -2.98% | -82.00% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 18.90% | 2.24% | +16.66% |
Volatility
SUK2.L vs. LDEU.L - Volatility Comparison
L&G FTSE 100 Super Short Strategy (Daily 2x) UCITS ETF GBP (Acc) (SUK2.L) has a higher volatility of 5.69% compared to L&G Europe ex-UK Quality Dividends Equal Weight UCITS ETF EUR (Dist) (LDEU.L) at 3.03%. This indicates that SUK2.L's price experiences larger fluctuations and is considered to be riskier than LDEU.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SUK2.L | LDEU.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.69% | 3.03% | +2.66% |
Volatility (6M)Calculated over the trailing 6-month period | 19.48% | 9.62% | +9.86% |
Volatility (1Y)Calculated over the trailing 1-year period | 22.53% | 11.78% | +10.75% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 25.52% | 14.58% | +10.94% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 29.98% | 14.42% | +15.56% |
SUK2.L vs. LDEU.L - Expense Ratio Comparison
SUK2.L has a 0.60% expense ratio, which is higher than LDEU.L's 0.25% expense ratio.
Dividends
SUK2.L vs. LDEU.L - Dividend Comparison
SUK2.L has not paid dividends to shareholders, while LDEU.L's dividend yield for the trailing twelve months is around 3.50%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|---|
LDEU.L L&G Europe ex-UK Quality Dividends Equal Weight UCITS ETF EUR (Dist) | 3.50% | 3.47% | 4.36% | 4.44% | 4.17% | 2.93% |
SUK2.L L&G FTSE 100 Super Short Strategy (Daily 2x) UCITS ETF GBP (Acc) | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
SUK2.L and LDEU.L have a correlation of -0.71, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, LDEU.L is cheaper at 0.25% per year. The better choice depends on whether you care most about return, fees, risk, or income.
LDEU.L is cheaper with a 0.25% expense ratio, compared with 0.60% for SUK2.L.
SUK2.L is categorized as Inverse Equities, while LDEU.L is Europe Equities. SUK2.L tracks FTSE 100 Daily Super Short Strategy Index, while LDEU.L tracks FTSE Developed Europe ex UK All Cap ex CW ex TC ex REITS Dividend Growth with Quality Net Tax Index. Their fees differ too: 0.60% for SUK2.L and 0.25% for LDEU.L.
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