XDPG.L vs. XS2D.L

Last updated Jun 5, 2026

XDPG.L (Xtrackers S&P 500 UCITS ETF 2C - GBP Hedged) and XS2D.L (Xtrackers S&P 500 2x Leveraged Daily Swap UCITS ETF 1C) are both exchange-traded funds - XDPG.L is a S&P 500 fund tracking the S&P 500 GBP Hedged, while XS2D.L is a Leveraged Equities fund tracking the S&P 500 2x Leveraged Daily Index. Both are passively managed. Over the past 10 years, XDPG.L returned 13.60%/yr vs 25.23%/yr for XS2D.L. Their correlation of 0.92 suggests significant overlap in exposure. XDPG.L charges 0.09%/yr vs 0.60%/yr for XS2D.L.

Performance

XDPG.L vs. XS2D.L - Performance Comparison

The chart below illustrates the hypothetical performance of a £10,000 investment in Xtrackers S&P 500 UCITS ETF 2C - GBP Hedged (XDPG.L) and Xtrackers S&P 500 2x Leveraged Daily Swap UCITS ETF 1C (XS2D.L). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

XDPG.L is traded in GBp, while XS2D.L is traded in USD. To make them comparable, the XS2D.L values have been converted to GBp using the latest available exchange rates.

Returns By Period

In the year-to-date period, XDPG.L achieves a 9.91% return, which is significantly lower than XS2D.L's 19.13% return. Over the past 10 years, XDPG.L has underperformed XS2D.L with an annualized return of 13.60%, while XS2D.L has yielded a comparatively higher 25.23% annualized return.

XDPG.L

• 1D: 0.02%
• 1M: 4.52%
• YTD: 9.91%
• 6M: 10.64%
• 1Y: 27.07%
• 3Y*: 21.39%
• 5Y*: 12.48%
• 10Y*: 13.60%

XS2D.L

• 1D: 0.01%
• 1M: 9.78%
• YTD: 19.13%
• 6M: 19.00%
• 1Y: 55.24%
• 3Y*: 34.87%
• 5Y*: 21.71%
• 10Y*: 25.23%

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

XDPG.L vs. XS2D.L - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
XDPG.L Xtrackers S&P 500 UCITS ETF 2C - GBP Hedged	9.91%	16.95%	24.90%	24.82%	-20.73%	28.87%	15.23%	27.55%	-7.58%	19.91%
XS2D.L Xtrackers S&P 500 2x Leveraged Daily Swap UCITS ETF 1C	19.13%	17.56%	48.20%	41.43%	-31.85%	64.57%	17.41%	56.67%	-10.94%	31.09%

Correlation

The correlation between XDPG.L and XS2D.L is 0.94, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.94
Correlation (3Y) Calculated over the trailing 3-year period	0.94
Correlation (5Y) Calculated over the trailing 5-year period	0.95
Correlation (10Y) Calculated over the trailing 10-year period	0.92
Correlation (All Time) Calculated using the full available price history since Mar 31, 2015	0.92

The correlation between XDPG.L and XS2D.L has been stable across timeframes, ranging from 0.92 to 0.95 - a consistent structural relationship.

XDPG.L vs. XS2D.L - Sectors Allocation Comparison

Sectors	XDPG.L	XS2D.L
Technology	35.6%	46.5%
Financial Services	11.8%	4.1%
Communication Services	11.2%	14.0%
Consumer Cyclical	10.1%	0.7%
Healthcare	8.5%	11.8%
Industrials	8.3%	9.3%
Consumer Defensive	4.9%	0.6%
Energy	3.5%	-
Utilities	2.4%	-
Real Estate	1.9%	12.9%
Basic Materials	1.8%	-

Return for Risk

XDPG.L vs. XS2D.L — Risk / Return Rank

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

XDPG.L

XDPG.L Risk / Return Rank: 73
XDPG.L Sharpe Ratio Rank: 72
XDPG.L Sortino Ratio Rank: 77
XDPG.L Omega Ratio Rank: 73
XDPG.L Calmar Ratio Rank: 66
XDPG.L Martin Ratio Rank: 75

XS2D.L

XS2D.L Risk / Return Rank: 68
XS2D.L Sharpe Ratio Rank: 71
XS2D.L Sortino Ratio Rank: 69
XS2D.L Omega Ratio Rank: 65
XS2D.L Calmar Ratio Rank: 65
XS2D.L Martin Ratio Rank: 72

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.

XDPG.L vs. XS2D.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Xtrackers S&P 500 UCITS ETF 2C - GBP Hedged (XDPG.L) and Xtrackers S&P 500 2x Leveraged Daily Swap UCITS ETF 1C (XS2D.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.

	XDPG.L	XS2D.L	Difference
Sharpe ratio: Return per unit of total volatility	2.32	2.43	-0.11
Sortino ratio: Return per unit of downside risk	3.40	3.17	+0.23
Omega ratio: Gain probability vs. loss probability	1.42	1.41	+0.01
Calmar ratio: Return relative to maximum drawdown	3.24	3.49	-0.24
Martin ratio: Return relative to average drawdown	13.93	13.13	+0.80
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

XDPG.L vs. XS2D.L - Sharpe Ratio Comparison

The current XDPG.L Sharpe Ratio is 2.32, which is comparable to the XS2D.L Sharpe Ratio of 2.43. The chart below compares the historical Sharpe Ratios of XDPG.L and XS2D.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.

Sharpe Ratios by Period

	XDPG.L	XS2D.L	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.32	2.43	-0.11
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.78	0.72	+0.06
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.82	0.80	+0.01
Sharpe Ratio (All Time) Calculated using the full available price history	0.74	0.86	-0.11

Drawdowns

XDPG.L vs. XS2D.L - Drawdown Comparison

The maximum XDPG.L drawdown since its inception was -35.91%, smaller than the maximum XS2D.L drawdown of -54.44%. Use the drawdown chart below to compare losses from any high point for XDPG.L and XS2D.L.

Drawdown Indicators

	XDPG.L	XS2D.L	Difference
Max Drawdown Largest peak-to-trough decline	-35.91%	-54.44%	+18.53%
Max Drawdown (1Y) Largest decline over 1 year	-8.31%	-15.77%	+7.46%
Max Drawdown (3Y) Largest decline over 3 years	-19.07%	-36.46%	+17.39%
Max Drawdown (5Y) Largest decline over 5 years	-25.62%	-37.20%	+11.58%
Max Drawdown (10Y) Largest decline over 10 years	-35.91%	-54.44%	+18.53%
Current Drawdown Current decline from peak	-0.53%	-0.76%	+0.23%
Average Drawdown Average peak-to-trough decline	-4.80%	-8.14%	+3.34%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.94%	4.20%	-2.26%

Volatility

XDPG.L vs. XS2D.L - Volatility Comparison

The current volatility for Xtrackers S&P 500 UCITS ETF 2C - GBP Hedged (XDPG.L) is 3.18%, while Xtrackers S&P 500 2x Leveraged Daily Swap UCITS ETF 1C (XS2D.L) has a volatility of 6.33%. This indicates that XDPG.L experiences smaller price fluctuations and is considered to be less risky than XS2D.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	XDPG.L	XS2D.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.18%	6.33%	-3.15%
Volatility (6M) Calculated over the trailing 6-month period	8.59%	16.32%	-7.73%
Volatility (1Y) Calculated over the trailing 1-year period	11.62%	22.67%	-11.05%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.00%	30.08%	-14.08%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.60%	31.28%	-14.68%

XDPG.L vs. XS2D.L - Expense Ratio Comparison

XDPG.L has a 0.09% expense ratio, which is lower than XS2D.L's 0.60% expense ratio.

Dividends

XDPG.L vs. XS2D.L - Dividend Comparison

Neither XDPG.L nor XS2D.L has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both XDPG.L and XS2D.L in my portfolio?

With a correlation of 0.94, XDPG.L and XS2D.L move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which ETF is better, XDPG.L or XS2D.L?

On fees, XDPG.L is cheaper at 0.09% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, XDPG.L or XS2D.L?

XDPG.L is cheaper with a 0.09% expense ratio, compared with 0.60% for XS2D.L.

What is the main difference between XDPG.L and XS2D.L?

XDPG.L is categorized as S&P 500, while XS2D.L is Leveraged Equities. XDPG.L tracks S&P 500 GBP Hedged, while XS2D.L tracks S&P 500 2x Leveraged Daily Index. Their fees differ too: 0.09% for XDPG.L and 0.60% for XS2D.L.