# L&G FTSE 100 Leveraged (Daily 2x) UCITS ETF GBP (LUK2) **Page:** https://fundology.uk/fund/luk2 · ISIN IE00B4QNJJ23 ## At a glance > Capital at risk. Past performance is not a guide to future returns. The value of investments can fall as well as rise. As of 13/11/2026, LUK2 (L&G FTSE 100 Leveraged (Daily 2x) UCITS ETF GBP, ISIN IE00B4QNJJ23) closed at £661.50 on the London Stock Exchange. Its ongoing charge is 0.50% a year (about £50 on £10,000). Over the five years to 13/11/2026 its total return was +106.5%, or +61.2% after UK CPIH inflation. ## Summary L&G FTSE 100 Leveraged (Daily 2x) UCITS ETF GBP 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 0.5% a year — about £50 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:** Built for short-term trading. Because the multiple resets every day, losses can build up quickly when held for longer, even if the index ends up where it started. Latest close: **£661.50** (13/11/2026). ## Key facts | Fact | Value | |---|---| | Ticker (LSE) | LUK2 | | ISIN | IE00B4QNJJ23 | | Category | Leveraged & inverse | | Type | ETF | | Provider | L&G | | Tracks | FTSE 100 Daily Leveraged Net Total Return Index - GBP | | Income | Accumulating | | Ongoing charge | 0.50% a year (£50 per £10,000) | | Fund size | £21.2m | | Launched | 2009 | | Domicile | Ireland | | UK reporting fund status | Yes — on HMRC’s list of reporting funds (list of 02/11/2026); reporting fund since 01/07/2010 | ## Past returns (periods to 13/11/2026) After the fund's ongoing charges. "Income reinvested" is total return; "price only" leaves out income paid out. Real returns are after UK CPIH inflation. | Window | Return | After CPIH inflation | Measured as | |---|---|---|---| | 1 year | +16.82% | +12.68% | income reinvested | | 3 years | +99.89% | +80.60% | income reinvested | | 5 years | +106.51% | +61.19% | income reinvested | Returns: as reported (delayed data). Inflation: UK CPIH, latest month published. ## Calendar-year returns Calendar-year returns of L&G FTSE 100 Leveraged (Daily 2x) UCITS ETF GBP in pounds (price, with income reinvested in the fund): 2022 +3.8%, 2023 +6.6%, 2024 +11.4%, 2025 +42.8%; 2026 to 13/11/2026 +17.7%. Returns of L&G FTSE 100 Leveraged (Daily 2x) UCITS ETF GBP in pounds (price, with income reinvested in the fund) over the 12 months to 30/09/2026: +22.2%; to 30/09/2025: +26.2%; to 30/09/2024: +18.1%; to 30/09/2023: +21.6%; to 30/09/2022: −1.7%. | Year | Return | After CPIH inflation | Measured as | |---|---|---|---| | 2022 | +3.8% | -5.0% | Price | | 2023 | +6.6% | +2.3% | Price | | 2024 | +11.4% | +7.6% | Price | | 2025 | +42.8% | +37.9% | Price | | 2026 to 13/11/2026 | +17.7% | +13.9% | Price | ## Risk metrics | Window | Volatility | Max drawdown | |---|---|---| | 1 year | 24.83% | -17.43% | | 3 years | 22.20% | -17.97% | | 5 years | 24.53% | -18.84% | ## Largest fall Volatility of L&G FTSE 100 Leveraged (Daily 2x) UCITS ETF GBP in pounds, annualised from weekly returns to 13/11/2026: 24.8% over 1 year, 22.2% over 3 years, 24.5% over 5 years. Largest fall in the price of L&G FTSE 100 Leveraged (Daily 2x) UCITS ETF GBP since November 2021, in pounds: −18.8% from 08/04/2022 to 14/10/2022. The lowest 12-month return of L&G FTSE 100 Leveraged (Daily 2x) UCITS ETF GBP in pounds (price, with income reinvested in the fund) since January 2021 was −8.3% (12 months to 19/01/2024); the highest was +72.6% (12 months to 10/04/2026). On 13/11/2026 the price of L&G FTSE 100 Leveraged (Daily 2x) UCITS ETF GBP was 1.4% below its highest weekly close since November 2021 (27/02/2026), in pounds. ## Charges compared with similar funds Ongoing charge of L&G FTSE 100 Leveraged (Daily 2x) UCITS ETF GBP 0.50% a year. Compared on 14/11/2026, 186 of the 210 other leveraged and inverse products charge more, 3 the same and 21 less (share classes counted once). ## Charges & eligibility - Ongoing charges figure (OCF): **0.50%** per year (as of 13/11/2026) - Stocks and shares ISA eligible: usually (check with your platform) - SIPP eligible: usually (check with your provider) - ISA and SIPP mean the kind of product usually qualifies under HMRC rules. We do not check each platform’s list — each provider decides which funds it offers. Crypto ETNs have not qualified for a stocks and shares ISA since 06/04/2026, and overseas funds that are not UK-recognised UCITS, such as Swiss ETFs, do not usually qualify. ## Questions people ask **What is the ongoing charge of LUK2?** The ongoing charge of LUK2 is 0.50% a year — about £50 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 L&G FTSE 100 Leveraged (Daily 2x) UCITS ETF GBP 0.50% a year. Compared on 14/11/2026, 186 of the 210 other leveraged and inverse products charge more, 3 the same and 21 less (share classes counted once). **What does LUK2 track?** LUK2 tracks the FTSE 100 Daily Leveraged Net Total Return Index - GBP. **Is LUK2 accumulating or distributing?** LUK2 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 LUK2?** The ISIN of LUK2 is IE00B4QNJJ23. An ISIN identifies one exact share class of a fund; LUK2 is its ticker on the London Stock Exchange. **What were LUK2’s returns in each of the last five years?** Calendar-year returns of LUK2 in pounds (price, with income reinvested in the fund): 2022 +3.8%, 2023 +6.6%, 2024 +11.4%, 2025 +42.8%; 2026 to 13/11/2026 +17.7%. Past performance is not a guide to future returns. **How has LUK2 done after inflation?** Over the five years to 13/11/2026 LUK2’s total return was +106.5%, or +61.2% after UK CPIH inflation. Past performance is not a guide to future returns. ## Fund documents - [Fund page at L&G](https://fundcentres.landg.com/en/uk/private-investors/fund-centre/ETF/FTSE-100-Leveraged-Daily-2x/IE00B4QNJJ23/) - Links checked 12/10/2026. --- We show information. We are not financial advisers, not authorised by the FCA, and never recommend specific investments. Capital at risk. Past performance is not a guide to future returns. The value of investments can fall as well as rise.