L&G DAX Daily 2x Long UCITS ETF
DEL2.L
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ROIC.AI
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- L&G DAX Daily 2x Long UCITS ETF (DEL2.L) is an exchange-traded fund that seeks to track the performance of the LevDAX x2 Index, providing two times the daily percentage change of the DAX Index, which comprises the 40 largest and most liquid German blue-chip stocks listed on the Frankfurt Stock Exchange's Prime Standard segment. The ETF employs a synthetic replication methodology using swaps rather than physical replication, with an accumulating distribution policy where dividends are reinvested; it maintains a total expense ratio of 0.40% per annum, does not engage in securities lending, and features daily rebalancing to achieve its leveraged exposure. Domiciled in Ireland and launched on June 15, 2009, as part of Legal & General UCITS ETF Plc issued by Legal & General Investment Management Limited (LGIM), the fund operates primarily in Europe with listings on exchanges including Xetra, the London Stock Exchange, and others, targeting sophisticated investors seeking amplified short-term tactical exposure to the German equity market. The ETF's parent entity, LGIM, a division of Legal & General Group founded in 1836 and headquartered at One Coleman Street in London, England, manages the fund through its European arm, LGIM Managers (Europe) Limited, regulated by the Central Bank of Ireland with offices across the European Economic Area including branches in Italy, Germany, and the Netherlands. In recent developments, Legal & General UCITS ETF Plc, the umbrella structure for this ETF, updated names of several funds including ESG-titled products around May 15, 2025, to comply with European Securities and Markets Authority (ESMA) guidelines on sustainability-related terminology, replacing terms like "ESG" with "Screened" where applicable, though this specific DAX leveraged product retained its name. LGIM continues to expand its broader ETF suite, with notable launches such as the L&G Corporate Bond ex-Banks Higher Ratings 0-2Y UCITS ETF in October 2024 in partnership with anchor investor Gerd Kommer Invest (GKI), enhancing fixed income diversification ex-banking sector concentration. No specific acquisitions, funding rounds, or strategic shifts directly affecting this ETF have been reported in the last 1-2 years, reflecting its established position within LGIM's leveraged and commodity-focused ETF offerings amid ongoing market volatility.