Fund facts

Fund size*

€41.2m
Base currency
EUR
Listing date
18 Aug 2009
Domicile
Ireland
Index ticker
D1AJ
Replication method
Synthetic - unfunded swap backed by collateral

Statistics

*As at 31 Mar 2023

Fund aim

The L&G DAX® Daily 2x Long UCITS ETF (the "ETF") is an exchange traded fund that aims to track the performance of the LevDAX® x2 Index (the "Index").

Potential for magnified losses

Potential losses in leveraged products (such as this ETF) are significantly magnified in comparison to investments that do not incorporate leverage.

Leveraged exposure

For periods of longer than one day, the return of the Index is not the same as the return of the Underlying Index multiplied by a factor of 2. This is because the x2 leverage factor is reset on a daily basis (i.e. the x2 leverage factor is applied to the performance of the Underlying Index on each day).
The daily reset has a “compounding effect” which means that, the more volatile the performance of the Underlying Index, the more the performance of the Index (and therefore the ETF) will deviate from the performance of the Underlying Index (multiplied by a leverage factor of 2) over a given period of time.
Accordingly, this ETF may not be a suitable investment for periods of longer than one day.

LevDAX® x2 Index

The LevDAX® x2 Index (the “Index”) is a leveraged index. The daily percentage change in the level of the Index is intended to reflect twice the daily percentage change in the level of the DAX® Index (the “Underlying Index”) less an implied amount reflecting the cost of borrowing additional capital to invest in the Underlying Index portfolio so as to create the leveraged exposure (the “Financing Cost”).

The Underlying Index is comprised of 30 of the largest and most liquid companies which are publically traded on the Frankfurt Stock Exchange. Size is determined by reference to the total market value of the proportion of a company’s shares that are freely tradable by the public (i.e. not subject to any restrictions or fixed ownership) and “liquidity” is determined by reference to how actively a company’s shares are traded). Each company is weighted according to its relative size.

In tracking the Index, the ETF is exposed on each day to a multiple (by a factor of 2) of that day’s movement in the value of the Underlying Index less the Financing Cost built into the Index and charges and expenses applied to the ETF. As the Index rebalances daily, the ETF may not be a suitable investment for periods of longer than one day.

Index dataProvider
Deutsche Börse
Bloomberg code
D1AJ
Reuters code
.LEVDAX
Type
Gross Total Return
Website
www.dax-indices.com

Fund updates

Performance

Source: Lipper.

Performance for the EUR Accumulating ETF class in EUR, listed on 18 August 2009. Source: Lipper. Performance assumes all ETF charges have been taken and that all income generated by the investments, after deduction of tax, remains in the ETF.

Past performance is not a reliable indicator of future performance. Markets could develop very differently in the future. It can help you to assess how the fund has been managed in the past. The tables and charts above shows the fund's performance as the percentage loss or gain per year over the last 10 years.

Performance (%)

Change

Performance summary (%)

To month-end
To quarter-end

As at 28 Feb 2023

Cumulative	Fund	Benchmark
1 month	2.68	2.81
6 months	38.86	40.01
Year to date	20.60	20.96
3 years	33.40	39.21
5 years	13.66	21.78
Since launch	-	-

Annualised	Fund	Benchmark
1 year	5.27	6.93
3 years	10.08	11.66
5 years	2.59	4.02
Since launch	-	-

As at 31 Dec 2022

Cumulative	Fund	Benchmark
Quarterly	30.10	30.61
Year to date	-28.42	-27.35
3 years	-11.74	-8.01
5 years	-13.15	-7.02
Since launch	-	-

Annualised	Fund	Benchmark
1 year	-26.87	-27.35
3 years	-3.38	-2.74
5 years	-2.36	-1.44
Since launch	-	-

Rolling 12-month performance

Calendar year performance

Monthly performance

Annualised performance

Rolling 12-month performance to last quarter end (%)

	Fund	Benchmark
2013	49.18	-
2014	-0.44	1.94
2015	11.68	13.31
2016	7.65	9.19
2017	23.67	25.39
2018	-35.48	-34.64
2019	52.52	54.65
2020	-5.24	-4.04
2021	30.13	31.94
2022	-28.42	-27.35

12 months to 31 December	2013	2014	2015	2016	2017	2018	2019	2020	2021	2022
Fund	49.18	-0.44	11.68	7.65	23.67	-35.48	52.52	-5.24	30.13	-28.42
Benchmark	-	1.94	13.31	9.19	25.39	-34.64	54.65	-4.04	31.94	-27.35

Calendar year performance (%)

	Fund	Benchmark
2013	49.18	-
2014	-0.44	1.94
2015	11.68	13.31
2016	7.65	9.19
2017	23.67	25.39
2018	-35.48	-34.64
2019	52.52	54.65
2020	-5.24	-4.04
2021	30.13	31.94
2022	-28.42	-27.35

	2013	2014	2015	2016	2017	2018	2019	2020	2021	2022
Fund	49.18	-0.44	11.68	7.65	23.67	-35.48	52.52	-5.24	30.13	-28.42
Benchmark	-	1.94	13.31	9.19	25.39	-34.64	54.65	-4.04	31.94	-27.35

Monthly performance (%)

To month-end
To quarter-end

Annualised performance (%)

	1 year	3 years	5 years	Since launch
Fund	5.27	10.08	2.59	-
Benchmark	6.93	11.66	4.02	-

Annualised performance (%)

	1 year	3 years	5 years	Since launch
Fund	-26.87	-3.38	-2.36	-
Benchmark	-27.35	-2.74	-1.44	-

Performance scenarios

The figures shown include all the costs of the product itself, but may not include all the costs that you pay to your advisor or distributor. The figures do not take into account your personal tax situation, which may also affect how much you get back.

What you will get from this product depends on future market performance. Market developments in the future are uncertain and cannot be accurately predicted.

The unfavourable, moderate, and favourable scenarios shown are illustrations using the worst, average, and best performance of the product over the last 10 years. Markets could develop very differently in the future.

Recommended holding period (RHP): 0.00397 YearsExample Investment €10,000

Scenarios		If you exit after 1 year	If you exit after RHP
Minimum	There is no minimum guaranteed return. You could lose some or all of your investment.
Stress scenario	What you might get back after costs	10.000,00	9.978,55
Stress scenario	Average return each year (%)	0,00	-41,78
Unfavourable scenario	What you might get back after costs	10.000,00	9.988,88
Unfavourable scenario	Average return each year (%)	0,00	-24,44
Moderate scenario	What you might get back after costs	10.000,00	10.000,05
Moderate scenario	Average return each year (%)	0,00	0,13
Favourable scenario	What you might get back after costs	10.000,00	10.007,87
Favourable scenario	Average return each year (%)	0,00	21,92

The stress scenario shows what you might get back in extreme market circumstances.

Unfavourable Scenario: This type of scenario occurred for an investment between 2020-03-11 to 2020-03-12

Moderate Scenario: This type of scenario occurred for an investment between 2019-01-31 to 2019-02-01

Favourable Scenario: This type of scenario occurred for an investment between 2020-03-23 to 2020-03-24

Portfolio

As at 28 Feb 2023. All data source LGIM unless otherwise stated. Totals may not sum to 100% due to rounding.

The breakdowns below relate to the Underlying Index.

Sector (%)

	Industrials	22.6
	Financials	18.1
	Consumer Discretionary	15.1
	Information Technology	13.1
	Health Care	11.1
	Communication Services	6.3
	Materials	6.2
	Utilities	4.2
	Consumer Staples	1.9
	Real Estate	1.4

Currency (%)

EUR

100.0

	Top 10 constituents	59.6
	Rest of Underlying Index	40.4

No. of constituents in Underlying Index

Top 10 constituents (%)

Siemens	9.4
SAP	9.4
Allianz	7.6
Deutsche Telekom	6.3
Airbus	6.2
Mercedes-Benz	4.9
Bayer	4.7
Muench. Rueckvers.	3.8
Infineon Technologies	3.8
BASF	3.7

Country (%)

	Germany	93.0
	Netherlands	7.0

Investment Manager

Legal & General Investment Management Limited is the investment manager for this ETF and is responsible for its day-to-day investment management decisions. The team is highly experienced with respect to all aspects relating to the management of an ETF portfolio, including collateral management, OTC swap trading, adherence to UCITS regulations and counterparty exposure and monitoring.

Literature

Key literature

First Addendum to Prospectus

28 Nov 2022

Fund supplement

23 Feb 2022

Fact sheets

2023Change date

Marketing documents

ETF product list (Italian)

01 Sep 2022

Legal documents

First Addendum to Prospectus

28 Nov 2022

Fund schedule supplement

28 Nov 2022

Fund supplement

23 Feb 2022

MiFID II EMT Costs and Charges

28 Nov 2022

MiFID II EPT Costs and Charges

15 Dec 2022

Supplementary information document

01 Nov 2021

Constitution

20 Apr 2020

Execution venues

2020Change date

Top 5 Execution Venues Report

30 Apr 2020

Top 5 Execution Venues Report

30 Apr 2019

Top 5 Execution Venues Report Data

30 Apr 2020

Top 5 Execution Venues Report Data

30 Apr 2019

Reports and accounts

2022Change date

Annual Report and Accounts

30 Jun 2022

Annual Report and Accounts

30 Jun 2021

Annual Report and Accounts

30 Jun 2020

Annual Report and Accounts

30 Jun 2019

Annual Report and Accounts

30 Jun 2018

Interim Report and Accounts

31 Dec 2022

Interim Report and Accounts

31 Dec 2021

Interim Report and Accounts

31 Dec 2020

Interim Report and Accounts

31 Dec 2019

Interim Report and Accounts

31 Dec 2018

Interim Report and Accounts

31 Dec 2017

Trading information

Dealing day calendar

28 Mar 2023

Best execution & order handling policy

01 Feb 2022

Dealing deadlines

06 Feb 2023

Fund valuation points

21 Oct 2022

iNav codes summary

21 Oct 2022

Shareholder notices

2022Change date

Legal Notice

03 Mar 2020

Change of Investment Manager

Results of Scheme Meeting and EGM

ICSD transition announcement

20 Apr 2020

ICSD transition FAQs

23 Mar 2020

Results of Sanction Hearing

20 Mar 2020

Change in Management Company

13 Mar 2020

Prices

Name

EUR Acc

Currency

EUR

NAV

346.54

Price time

17.30 CET (EU)

Further details

ChargesTER
0.40%

Management / administration

Issuer

Legal & General UCITS ETF Plc

Depositary and Trustee

The Bank of New York Mellon SA/NV, Dublin Branch

Securities regulator

Central Bank of Ireland

Country registration

This share class is registered for sale in the following countries:

Listings

Details

Codes

Exchange	Currency	Ticker	Listing date	ISIN	Bloomberg code	Reuters code	Trading hours (local)
Borsa Italiana	EUR	DEL2	29/01/2010	IE00B4QNHH68	DEL2 IM	DEL2.MI	09:00 - 17:30
London Stock Exchange	EUR	DEL2	15/06/2009	IE00B4QNHH68	DEL2 LN	DEL2.L	08:00 - 16:30
London Stock Exchange	GBP	DL2P	22/06/2009	IE00B4QNHH68	DL2P LN	DL2P.L	08:00 - 16:30
Deutsche Börse Xetra	EUR	DEL2	18/08/2009	IE00B4QNHH68	DEL2 GY	XDEL2.DE	09:00 - 17:30

Key risks

The value of an investment and any income taken from it is not guaranteed and can go down as well as up. You may not get back the amount you originally invested.

Past performance is not a guide to the future.

General investment risks: An investment in this ETF involves a significant degree of risk. Any decision to invest should be based on the information contained in the key investor information document and the prospectus. Prospective investors should obtain independent accounting, tax and legal advice and should consult their professional advisers to ascertain the suitability of this ETF as an investment to their own circumstances.

Potential losses in leveraged products (such as this ETF) are significantly magnified in comparison to investments that do not incorporate leverage.

For periods of longer than one day, the return of the Index is not the same as the return of the Underlying Index multiplied by a factor of 2. This is because the x2 leverage factor is reset on a daily basis (i.e. the x2 leverage factor is applied to the performance of the Underlying Index on each day). The daily reset has a “compounding effect” which means that, the more volatile the performance of the Underlying Index, the more the performance of the Index (and therefore the ETF) will deviate from the performance of the Underlying Index (multiplied by a leverage factor of 2) over a given period of time.

If a swap counterparty is no longer willing or able to continue entering into swaps with the ETF, the ETF will not be able to continue tracking the Index.

If a swap counterparty increases the cost of entering into swaps with the ETF, the ETF’s performance will be negatively impacted.

Third party service providers (such as swap counterparties or the ETF’s depositary) may go bankrupt and fail to pay money due to the ETF or return property belonging to the ETF.

If the Index provider stops calculating the Index or if the ETF’s license to track the Index is terminated, the ETF may have to be closed.

It may not always be possible to buy and sell ETF shares on a stock exchange or at prices closely reflecting the NAV.

There is no capital guarantee or protection on the value of the ETF. Investors can lose all the capital invested in the ETF.

For more information, please refer to the key investor information document.

Important information

In the United Kingdom and outside the European Economic Area, it is issued by Legal & General Investment Management Limited, authorised and regulated by the Financial Conduct Authority, No. 119272. Registered in England and Wales No. 02091894 with registered office at One Coleman Street, London, EC2R 5AA.

In the European Economic Area, it is issued by LGIM Managers (Europe) Limited, authorised by the Central Bank of Ireland as a UCITS management company (pursuant to European Communities (Undertakings for Collective Investment in Transferable Securities) Regulations, 2011 (S.I. No. 352 of 2011), as amended) and as an alternative investment fund manager with “top up” permissions which enable the firm to carry out certain additional MiFID investment services (pursuant to the European Union (Alternative Investment Fund Managers) Regulations 2013 (S.I. No. 257 of 2013), as amended). Registered in Ireland with the Companies Registration Office (No. 609677). Registered Office: 70 Sir John Rogerson’s Quay, Dublin, 2, Ireland. Regulated by the Central Bank of Ireland (No. C173733).

LGIM Managers (Europe) Limited operates a branch network in the European Economic Area, which is subject to supervision by the Central Bank of Ireland. In Italy, the branch office of LGIM Managers (Europe) Limited is subject to limited supervision by the Commissione Nazionale per le società e la Borsa (“CONSOB”) and is registered with Banca d’Italia (no. 23978.0) with registered office at Via Uberto Visconti di Modrone, 15, 20122 Milan, (Companies’ Register no. MI - 2557936). In Germany, the branch office of LGIM Managers (Europe) Limited is subject to limited supervision by the German Federal Financial Supervisory Authority (“BaFin”). In the Netherlands, the branch office of LGIM Managers (Europe) Limited is subject to limited supervision by the Dutch Authority for the Financial Markets (“AFM“) and it is included in the register held by the AFM and registered with the trade register of the Chamber of Commerce under number 74481231. Details about the full extent of our relevant authorisations and permissions are available from us upon request.

We are a member of the Irish Funds Association.

All features described on this website are those current at the time of publication and may be changed in the future. Nothing on this website should be construed as advice and it is therefore not a recommendation to buy or sell securities. If in doubt about the suitability of this product, you should seek professional advice. Copies of the prospectus, key investor information document, annual and semi-annual reports & accounts are available free of charge on request or at www.lgimetf.com.

This website is only directed at investors resident in jurisdictions where our funds are registered for sale. It is not an offer or invitation to persons outside of those jurisdictions. We reserve the right to reject any applications from outside of such jurisdictions.

Source and third party data

Source: Unless otherwise indicated all data contained on this website is sourced from Legal & General Investment Management Limited.

Where this document contains third party data ('Third Party Data’), we cannot guarantee the accuracy, completeness or reliability of such Third Party Data and accept no responsibility or liability whatsoever in respect of such Third Party Data

Index disclaimer

The Fund is neither sponsored nor promoted, distributed or in any other manner supported by Deutsche Börse AG (the “Licensor”). The Licensor does not give any explicit or implicit warranty or representation, neither regarding the results deriving from the use of the LevDAX® x2 Index and/or the DAX® Index or the terms LevDAX® and DAX® (together, the “Index Trademarks”) nor regarding the index value of LevDAX® x2 Index and/or the DAX® Index at a certain point in time or on a certain date nor in any other respect. The LevDAX® x2 Index and the DAX® Index are calculated and published by the Licensor. Nevertheless, as far as admissible under statutory law, the Licensor will not be liable vis-à-vis third parties for potential errors in the LevDAX® x2 Index and/or the DAX® Index. Moreover, there is no obligation for the Licensor vis-à-vis third parties, including investors, to point out potential errors in the LevDAX® x2 Index and/or the DAX® Index.

Neither the publication of the LevDAX® x2 Index and the DAX® Index by the Licensor nor the granting of a license to the Company’s Promoter regarding the LevDAX® x2 Index as well as the Index Trademarks for utilisation in connection with the Fund, which is derived from the LevDAX® x2 Index, represents a recommendation by the Licensor for a capital investment or contains in any manner a warranty or opinion by the Licensor with respect to the attractiveness on an investment in the Fund.

In its capacity as sole owner of all rights to the LevDAX® x2 Index, the DAX® Index and the Index Trademarks, the Licensor has solely licensed to the Promoter of the Fund the utilisation of the LevDAX® x2 Index and the Index Trademarks as well as any reference to the LevDAX® x2 Index, the DAX® Index and the Index Trademarks in connection with the Fund.

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L&G DAX Daily 2x Long UCITS ETF

Fund facts

Statistics

Fund aim

Important information

LevDAX® x2 Index

Index data

Fund updates

Performance

Performance summary (%)

Rolling 12-month performance to last quarter end (%)

Calendar year performance (%)

Monthly performance (%)

Annualised performance (%)

Annualised performance (%)

Performance scenarios

Recommended holding period (RHP): 0.00397 YearsExample Investment €10,000

Portfolio

Sector (%)

Currency (%)

Top 10 constituents (%)

Country (%)

Investment Manager

Literature

Key literature

Fact sheets

Marketing documents

Legal documents

Execution venues

Reports and accounts

Trading information

Shareholder notices

Prices

Further details

Charges

Management / administration

Country registration

Listings

Key risks

Important information

Source and third party data

Index disclaimer

Our thinking

Contact us