# L&G FTSE 100 Leveraged (Daily 2x) UCITS ETF GBP (LUK2)

**Source:** https://fundology.uk/fund/luk2 · ISIN IE00B4QNJJ23 · Data: TradingView (LSE closes and returns, delayed), issuer documents, ONS CPIH, FCA FIRDS

## 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 30/09/2026, LUK2 (L&G FTSE 100 Leveraged (Daily 2x) UCITS ETF GBP, ISIN IE00B4QNJJ23) closed at £628.10 on the London Stock Exchange. Its ongoing charge is 0.50% a year (about £50 on £10,000). Over the five years to 30/09/2026 its total return was +118.6%, or +70.9% 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: **£628.10** (30/09/2026).

## 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 | £16.2m |
| Launched | 2009 |
| Domicile | Ireland |

## Past returns (periods to 30/09/2026)

After the fund's ongoing charges. "Income reinvested" is total return; "price only" leaves out income paid out. Real returns are after ONS CPIH inflation.

| Window | Return | After CPIH inflation | Measured as |
|---|---|---|---|
| 1 year | +27.79% | +23.78% | income reinvested |
| 3 years | +83.60% | +65.68% | income reinvested |
| 5 years | +118.61% | +70.89% | income reinvested |

Returns: TradingView (delayed data). Inflation: ONS 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 +9.1%, 2025 +43.4%; 2026 to 30/09/2026 +13.6%. 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: +28.1%; to 30/09/2025: +20.4%; to 30/09/2024: +18.1%; to 30/09/2023: +21.6%; to 30/09/2022: −2.5%.

| Year | Return | After CPIH inflation | Measured as |
|---|---|---|---|
| 2022 | +3.8% | -5.0% | Price |
| 2023 | +6.6% | +2.3% | Price |
| 2024 | +9.1% | +5.4% | Price |
| 2025 | +43.4% | +38.5% | Price |
| 2026 to 30/09/2026 | +13.6% | +10.4% | Price |

## Risk metrics

| Window | Volatility | Max drawdown |
|---|---|---|
| 1 year | 24.12% | -17.43% |
| 3 years | 22.05% | -17.97% |
| 5 years | 24.25% | -18.84% |

## Largest fall

Volatility of L&G FTSE 100 Leveraged (Daily 2x) UCITS ETF GBP in pounds, annualised from weekly returns to 30/09/2026: 24.1% over 1 year, 22.1% over 3 years, 24.2% over 5 years. Largest fall in the price of L&G FTSE 100 Leveraged (Daily 2x) UCITS ETF GBP since October 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 30/09/2026 the price of L&G FTSE 100 Leveraged (Daily 2x) UCITS ETF GBP was 6.4% below its highest weekly close since October 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, as of 01/10/2026: 180 of the 280 other leveraged and inverse products charge more, 3 the same and 97 less (share classes counted once).

## Charges & eligibility

- Ongoing charges figure (OCF): **0.50%** per year
- ISA eligible: yes
- SIPP eligible: yes

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Capital at risk. Past performance is not a guide to future returns. The value of investments can fall as well as rise.