ETF · L&G
DS2P L&G DAX Daily 2x Short UCITS ETF EUR
ISIN IE00B4QNHZ41London Stock Exchange: DS2PLegal & General Group Plc
- Leveraged & inverse
- ETF
- ISA
- SIPP
- Accumulating
Latest close
LSE£0.4089
on
- Ongoing charge
- 0.60% a year
- Fund size
- £13.9m
As of , at least 15 min delayed
At a glance
As of 13/11/2026, DS2P (L&G DAX Daily 2x Short UCITS ETF EUR, ISIN IE00B4QNHZ41) closed at £0.4089 on the London Stock Exchange. Its ongoing charge is 0.60% a year (about £60 on £10,000). Over the five years to 13/11/2026 its total return was −69.6%, or −76.3% after UK CPIH inflation.
Past returns
- 1 year to 13/11/2026
- −24.3%
- −27.0% after inflation (UK CPIH)
- 3 years to 13/11/2026
- −67.6%
- −70.7% after inflation (UK CPIH)
- 5 years to 13/11/2026
- −69.6%
- −76.3% after inflation (UK CPIH)
£1,000 put in five years ago would have been worth about £304 on 13/11/2026 — about £237 in today’s spending power, once price rises are taken out. Past performance is not a guide to future returns.
Returns: as reported (delayed data). Inflation: UK CPIH, latest month published.
How we work it out:ReturnsReturns after inflationTotal returnReal returnCPIH
Calendar-year and 12-month returns
Calendar-year returns of Legal & General UCITS ETF ICAV - L&G DAX Daily 2x Short UCITS ETF EUR in pounds (price, with income reinvested in the fund): 2022 +13.7%, 2023 −29.7%, 2024 −28.0%, 2025 −32.8%; 2026 to 13/11/2026 −21.4%. Returns of Legal & General UCITS ETF ICAV - L&G DAX Daily 2x Short UCITS ETF EUR in pounds (price, with income reinvested in the fund) over the 12 months to 30/09/2026: −10.0%; to 30/09/2025: −34.3%; to 30/09/2024: −35.9%; to 30/09/2023: −38.9%; to 30/09/2022: +32.8%.
| Year | Return | After inflation | Return shown as a bar |
|---|---|---|---|
| to | −21.4% | −24.0% | |
| to | −32.8% | −35.1% | |
| to | −28.0% | −30.5% | |
| −29.7% | −32.5% | ||
| +13.7% | +4.1% |
| 12 months to | Return | After inflation |
|---|---|---|
| from | −10.0% | −13.2% |
| from | −34.3% | −36.8% |
| from | −35.9% | −37.6% |
| from | −38.9% | −42.6% |
| from | +32.8% | +22.1% |
As of , inflation: UK CPIH
How we work it out:Calendar-year returnsWhat a calendar-year return isAccumulating and distributing
Risk: volatility and largest fall
Volatility (annualised)
33.3%over 5 years
| 1 year | 30.7% |
|---|---|
| 3 years | 30.8% |
| 5 years | 33.3% |
Annualised from weekly returns. Higher means bumpier.
- Largest fall since November 2021
- −80.0%
- From to
- Lowest 12-month return
- −46.3%
- 12 months to
- Highest 12-month return
- +37.6%
- 12 months to
- Below its highest weekly close since November 2021
- 80.0%
- High of , latest
In words: Volatility of Legal & General UCITS ETF ICAV - L&G DAX Daily 2x Short UCITS ETF EUR in pounds, annualised from weekly returns to 13/11/2026: 30.7% over 1 year, 30.8% over 3 years, 33.3% over 5 years. Largest fall in the price of Legal & General UCITS ETF ICAV - L&G DAX Daily 2x Short UCITS ETF EUR since November 2021, in pounds: −80.0% from 30/09/2022 to 13/11/2026. The lowest 12-month return of Legal & General UCITS ETF ICAV - L&G DAX Daily 2x Short UCITS ETF EUR in pounds (price, with income reinvested in the fund) since January 2021 was −46.3% (12 months to 08/08/2025); the highest was +37.6% (12 months to 23/09/2022). On 13/11/2026 the price of Legal & General UCITS ETF ICAV - L&G DAX Daily 2x Short UCITS ETF EUR was 80.0% below its highest weekly close since November 2021 (30/09/2022), in pounds.
As of , price, with income reinvested in the fund
How we work it out:Risk figuresFallsVolatilityLargest fall
Charges compared with similar funds
- Ongoing charge
- 0.60%
- a year
- On £10,000
- £60
- a year, roughly
- Over five years
- £296
- of £10,000, before growth
- 26 charge less
- 13 the same
- 171 charge more
Ongoing charge of Legal & General UCITS ETF ICAV - L&G DAX Daily 2x Short UCITS ETF EUR 0.60% a year. Compared on 14/11/2026, 171 of the 210 other leveraged and inverse products charge more, 13 the same and 26 less (share classes counted once).
As of
A lower charge is not a promise of a higher return: what the fund holds matters more.
As of
Read more:Ongoing charge (OCF)OCF and TERFee dragHow charges add up
In plain English
Legal & General UCITS ETF ICAV - L&G DAX Daily 2x Short UCITS ETF EUR is an exchange-traded fund (ETF) from L&G, launched in 2009.
It aims to deliver a multiple, or the opposite, of one day’s move in what it tracks. The multiple resets daily, so over longer periods its return can differ a lot from the multiple of the index return.
You buy and sell it through a share-dealing account or platform during stock-market hours, like a share.
Its ongoing charge is 0.6% a year — about £60 a year on every £10,000 invested, taken from the fund's value rather than billed to you.
Income from its investments is reinvested inside the fund, so it shows up as a rising price rather than cash paid to you.
Leveraged & inverse: Products that multiply or reverse a single day’s move — for example three times the daily change of an index.
Terms:ETFIndex fundUCITSAccumulating or incomeLeveraged ETPsShare classISIN
Key facts
- Ticker
- DS2P
- ISIN
- IE00B4QNHZ41
- Also listed as
- DES2 (London Stock Exchange, euros)
- Provider
- L&G
- Tracks
- ShortDax x2 Index - EUR
- Structure
- ETF
- An exchange-traded fund: bought and sold on the stock exchange through the day, like a share.
- Income
- Accumulating
- Income is reinvested inside the fund, so it shows up as a rising price rather than cash paid to you.
- Ongoing charge
- 0.60% a year · about £60 on £10,000
- Fund size
- £13.9m
- Launched
- Domicile
- Ireland
- UK reporting fund status
- Yes — on HMRC’s list of reporting funds (list of )
- Reporting fund since . What reporting fund status means
- Can usually be held in
- ISA and SIPP
- Check with your platform: each decides which funds it offers.
- Currency hedged
- No
- Price currency
- Pounds (GBP)
- Category
- Leveraged & inverse
Price chart
Over the last year, the closing price went from £0.555 on 14/11/2025 to £0.4089 on 13/11/2026 (−26.3%). The lowest close shown was £0.4089 on 13/11/2026 and the highest £0.6166 on 27/03/2026.
One close a week. Before 31/07/2026 the closes are from the weekly price history for this listing; from then on, the closing prices we have recorded.
As of , at least 15 min delayed
Five years of prices, and after inflation
262 weekly closes, from 12/11/2021 to 13/11/2026. The same history in November 2026 pounds, adjusted with CPIH inflation.
Create a free account to see the 5-year price chart and the after-inflation chart
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How we work it out:Prices and returnsNAV and price
Risk and return in depth
Sharpe, Sortino and Calmar ratios
Sharpe, Sortino and Calmar ratios over 1, 3 and 5 years, from weekly returns in pounds.
With a free accountRolling returns
The full range of 254 rolling 12-month returns since January 2021, and of 150 rolling three-year returns, in pounds, with how often they were above zero.
With a free accountLargest falls and recoveries
The 3 largest falls since November 2021, in pounds, with how many weeks each took to reach its low and to recover.
With a free account
Create a free account to see the risk ratios, every rolling return and each large fall and its recovery
Sign-up takes an email address. There is no card to enter and nothing to pay.
Questions people ask
What is the ongoing charge of DS2P?
The ongoing charge of DS2P is 0.60% a year — about £60 a year on every £10,000 invested, taken from the fund’s value rather than billed to you. Platform and dealing fees are charged separately. Ongoing charge of Legal & General UCITS ETF ICAV - L&G DAX Daily 2x Short UCITS ETF EUR 0.60% a year. Compared on 14/11/2026, 171 of the 210 other leveraged and inverse products charge more, 13 the same and 26 less (share classes counted once).
What does DS2P track?
DS2P tracks the ShortDax x2 Index - EUR.
Is DS2P accumulating or distributing?
DS2P is accumulating: income is reinvested inside the fund, so it shows up as a rising price rather than cash paid to you.
What is the ISIN of DS2P?
The ISIN of DS2P is IE00B4QNHZ41. An ISIN identifies one exact share class of a fund; DS2P is its ticker on the London Stock Exchange. The same share class is also listed as DES2 (London Stock Exchange, euros).
What were DS2P’s returns in each of the last five years?
Calendar-year returns of DS2P in pounds (price, with income reinvested in the fund): 2022 +13.7%, 2023 −29.7%, 2024 −28.0%, 2025 −32.8%; 2026 to 13/11/2026 −21.4%. Past performance is not a guide to future returns.
How has DS2P done after inflation?
Over the five years to 13/11/2026 DS2P’s total return was −69.6%, or −76.3% after UK CPIH inflation. Past performance is not a guide to future returns.
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Fund documents and methods
- Fund documents
- Fund page at L&G (links checked )
Methodology:ReturnsCategoriesAll methods
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