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⚠ Leveraged strategy (2x daily): amplifies the index's daily moves

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Amundi LevDax Daily (2x) leveraged UCITS ETF DistIndex, costs, backtest, listings and taxation

ISIN: LU2090062600Ticker: LVDX (Xetra)Issuer: AmundiClass: UCITS ETF Dist

Issuer-declared data

Declared index

LevDAX Index

TER

0.35%

Transaction costs

0.00% (issuer estimate, from the KID)

Management

Passive (index-tracking) (from the KID)

Replication

Synthetic (swap)

Income policy

Distributing

SFDR

Article 6 — does not promote specific ESG characteristics what does it mean?

Fund assets

16.9 mln EUR

NAV

21.39 EUR (1 September 2026)

Domicile

Luxembourg

Inception date

2 July 2020

Data as declared by Amundi in the issuer’s official files and endpoints · collected on 2 September 2026 (monthly refresh). Facts only, no recommendation.

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Description

Amundi LevDax Daily (2x) leveraged UCITS ETF Dist tracks the issuer-declared index: LevDAX Index. The declared annual cost (TER) is 0.35%, plus 0.00% in transaction costs estimated by the issuer in the KID. Replication is synthetic replication (swap based); income is distributed to investors. The fund has assets of about 17 million euro, was launched on 2 July 2020 and is domiciled in Luxembourg. In our registry 1 other ETFs declare the same index.

The fund’s objective — in the issuer’s words

The Fund is an index-tracking UCITS passively managed. The Fund seeks to track both the upward and the downward evolution of the LevDAX® (the "Benchmark Index") while minimising the volatility of the difference between the return of the Sub-Fund and the return of the Index (the Tracking Error"). The anticipated level of Tracking Error in normal market conditions is indicated in the prospectus. Additional information about the Benchmark Index can be found at http://www.dax-indices.com
Keep reading the KID section ▾
The Fund seeks to achieve its objective via indirect replication by entering into an over-the-counter swap contract (financial derivative instrument, the "FDI"). The Fund may also invest in a diversified portfolio of international equities, whose performance will be exchanged against the performance of the Benchmark Index via the FDI. Updated composition of the Fund holdings is available on www.amundietf.com. In addition, the indicative net asset value is published on the Reuters and Bloomberg pages of the Fund, and might also be mentioned on the websites of the stock exchanges where the Fund is listed. The Fund is eligible to the French Equity Saving Scheme (PEA), and as consequence, a minimum of 75% of the Fund assets are invested in diversified equities issued in the European Union.
Intended Retail Investor:This product is intended for investors, with an average knowledge of and some experience of investing in funds, seeking to increase the value of their investment and to receive income over the recommended holding period with the ability to bear losses up to the amount invested.
Redemption and Dealing:The Sub-Fund's shares are listed and traded on one or more stock exchanges. In normal circumstances, you may deal in shares during the trading hours of the stock exchanges. Only authorised participants (e.g., selected financial institutions) may deal in shares directly with the Sub-Fund on the primary market. Further details are provided in the MULTI UNITS LUXEMBOURG prospectus.
Distribution policy:The Fund’s amounts available for distribution (if any) will be distributed.
More Information:You may get further information about the Sub-Fund, including the prospectus, and financial reports which are available at and free of charge on request from: Amundi Luxembourg S.A. at 5, allée Scheffer 2520 Luxembourg, Luxembourg.

From the KID’s “Objectives” section · 4 August 2026 · original document ↓

Text generated from the data the issuer declares in official product lists. No recommendation.

Quick reads

TER 0.35%: above the median of equity ETFs we track (0.22%).

Comparisons computed by Rebalix on the declared data in our census; they describe the past and are not indicative of future results.

Official documents

Key Information Document (KID)PDF in English, from the issuer’s site — always the latest filed version ProspectusPDF in English, from the issuer’s site — the fund’s full legal document FactsheetPDF in English, from the issuer’s site — the fund’s monthly snapshot

The KID is the document the law requires you to read before investing: 3 pages covering risks, costs and scenarios. The link opens the issuer’s published PDF.

Fund performance

issuer-declared net asset value (NAV) · EUR · from Jul 2020 to Sept 2026

Dividends reinvestedAdjusted for inflationCompare with the index

Compare with another ETF

Only funds we hold a history for. Three at a time, at most.

Return

+194.5%

Annualised

+19.1%

Volatility (ann.)

34.3%

Max drawdown

-48.85%

Tip: drag across the chart to zoom into a period.

Drawdown — distance from previous peak

This isn’t the return: it shows how far the fund is below its previous peak. 0% = you’re at the peak; below zero = how much you’re down and haven’t recovered yet.

Max drawdown

-48.85%

peak → trough

Trough

29 Sept 2022

from the 17 Nov 2021 peak

Recovery time

516 days

recovery only: trough to break-even · ≈ 1 year and 5 months

Underwater

832 days

decline + recovery: peak to break-even · ≈ 2 years and 3 months · → recovered on 27 Feb 2024

The five worst falls in the period

From the peak of	Trough	Depth	Back to break-even	Days underwater
17 Nov 2021	29 Sept 2022	-48.85%	27 Feb 2024	832
06 Mar 2025	09 Apr 2025	-30.37%	16 May 2025	71
16 Sept 2020	30 Oct 2020	-24.67%	01 Dec 2020	76
13 Jan 2026	27 Mar 2026	-24.16%	03 Aug 2026	202
15 May 2024	05 Aug 2024	-16.99%	26 Sept 2024	134

Calendar-year returns

2020

15.6%

2021

31.0%

2022

-28.2%

2023

35.9%

2024

32.0%

2025

40.8%

2026

7.3%

Month-by-month returns

	Jan	Feb	Mar	Apr	May	Jun	Jul	Aug	Sept	Oct	Nov	Dec	Year
2026	0.0	5.7	-20.2	13.7	5.7	-1.3	4.6	4.6	-2.0				7.3
2025	18.6	7.0	-4.2	1.5	12.6	-1.1	0.9	-1.7	-0.6	0.3	-1.4	5.2	40.8
2024	1.3	8.8	9.0	-6.7	5.4	-3.3	2.5	3.7	3.9	-3.0	5.3	2.5	32.0
2023	17.7	2.7	2.7	3.4	-4.3	5.8	3.2	-6.4	-7.3	-7.9	19.3	6.3	35.9
2022	-5.5	-13.2	-2.0	-4.7	3.1	-21.5	10.8	-9.7	-11.4	19.3	17.5	-7.0	-28.2
2021	-4.3	5.1	18.3	1.4	3.3	1.3	-0.0	3.8	-7.3	5.6	-7.5	10.4	31.0
2020								10.2	-3.3	-18.4	31.7	6.3	15.6

From month-end NAVs, over the fund’s full history, on the series shown in the chart (dividends reinvested where declared). Deeper colour = larger move.

Issuer-declared series with dividends reinvested: the total performance, comparable with accumulating funds. Switch it off to see the price (NAV) alone, which drops at every dividend payment.

Source: Amundi. Issuer-declared historical series; inflation: Eurostat and national statistical institutes, latest available July 2026 — for later days the index stays at the last published value (institutes publish with a few weeks’ lag). The «adjusted for inflation» view expresses value in today’s purchasing power for the selected country; volatility always stays nominal, as elsewhere on the site (deflating it would add artificial swings caused by the monthly cadence of the price index). Past performance is not indicative of future results: these are facts, not a recommendation.

Tracking difference — issuer-declared

How much the fund returned above (+) or below (−) its index, year by year. It measures the actual deviation: the combined effect of costs (TER and transaction), securities-lending revenue and replication optimisations — which is why it can beat the TER. Tracking difference was positive in 0 of the last 5 calendar years: a past observation, not an indication of future outperformance.

Average TD (last 3 years)

-1.79% /anno

Declared TER

0.35%

Year	Fund	Index	Difference
2025	+40.81%	+42.96%	-2.14%
2024	+32.01%	+33.75%	-1.74%
2023	+35.90%	+37.39%	-1.49%
2022	-28.24%	-27.35%	-0.90%
2021	+30.99%	+31.94%	-0.95%

Figures declared by the issuer on the fund page (net fund and index returns per calendar year, as of 19 August 2026), not computed by us. Partial years excluded. What is tracking difference? →

Risk indicators· EUR

	Last year	Last 3 years	Last 5 years	Full history
Volatility (ann.)	32.06%	31.22%	34.48%	34.52%
Max drawdown	-25.47%	-30.37%	-52.01%	-52.04%
Sharpe	0.22	0.67	0.34	0.44
Sortino	0.32	0.95	0.48	0.62

Computed from the daily NAV series, always in nominal terms. Sharpe and Sortino use the ECB main refinancing rate averaged over the period (last year: 2.21%), weighted by days in force, as the risk-free rate. Same formulas as our public methodology: sample standard deviation annualised over 252 days; Sortino with downside deviation. Past performance is not indicative of future results. Figures in EUR, the fund's currency; the table follows the currency selected in the chart.

Portfolio holdings

Securities in portfolio

Top-10 weight

55.0%

Top 10 holdings

EDP SA · EDP PL

9.13%

BNP PARIBAS · BNP FP

7.44%

DSV A/S (DKK) · DSV DC

7.04%

SAMPO OYJ-A SHS · SAMPO FH

5.41%

SAAB AB-B · SAABB SS

4.66%

SANDVIK AB · SAND SS

4.66%

D IETEREN GROUP · DIE BB

4.57%

ATLAS COPCO AB-A SHS · ATCOA SS

4.45%

FERRARI NV MILAN · RACE IM

3.95%

ASM INTERNATIONAL NV · ASM NA

3.65%

⬇ Download the full portfolio — Excel, 41 rows

Full portfolio declared by Amundi, as of 1 September 2026: this is the summary. Percentages may not sum to 100 due to cash, derivatives and rounding. Synthetic replication: the list shows the substitute basket (securities held as swap collateral), which can differ substantially from the replicated index. The fund’s economic exposure is that of its declared index.

Fund historyFund-assets (AUM) chart year by year and monthly basket snapshots.Open the history →

Dividends

Frequency

Annual

Latest dividend

1.42 EUR

ex 9 Dec 2025 · paid ~12 Dec 2025

Dividends, last 12 months

1.42 EUR

Dividend yield

6.63%

12-month sum over the NAV as of 8 Sept 2026

Yield by year

Period	Dividends	Dividend yield
1 year	1.42 EUR	6.92 %
2025	1.42 EUR	9.33 %
2024	1.27 EUR	10.20 %
2023	0.85 EUR	8.69 %
2022	0.54 EUR	3.72 %
2021	0.89 EUR	7.56 %

Dividend contribution to total return

dividendsprice changeprice decline

Calendar per share (EUR)

Year	Jul	Dec
2025		1.42
2024		1.27
2023		0.85
2022	0.54
2021	0.89
2020	0.48

Latest dividends

Per share	Ex-dividend date	Payment
1.42 EUR	9 Dec 2025	12 Dec 2025 · estimated
1.27 EUR	10 Dec 2024	13 Dec 2024 · estimated
0.85 EUR	12 Dec 2023	15 Dec 2023 · estimated
0.54 EUR	6 Jul 2022	8 Jul 2022 · estimated
0.89 EUR	7 Jul 2021	9 Jul 2021 · estimated
0.48 EUR	8 Jul 2020	10 Jul 2020 · estimated

Per-share dividends as declared by the issuer, in EUR, since the first payment (8 Jul 2020). Past dividends are not indicative of future ones. An «estimated» payment date is computed by Rebalix (ex-date + 2-3 business days, as this issuer has paid in the past) because the issuer does not publish it: it may differ by a day.

ETFs declaring the same index

Fund	TER	Income	Fund size
Amundi LevDax Daily (2x) leveraged UCITS ETF Acc compare ⇄ DAXLEV · Amundi	0.35%	Acc.	178 mln EUR

2 ETFs in our census declare this index (including this fund). Funds declaring the exact same index, word for word, in official product lists. Differently-worded variants (or other index versions) are not shown: a short list beats a wrong match. Sorted by TER. A dash “—” = not declared by the issuer in the files we read — not a zero.

Italian taxation

Effective rate on capital gains

26.00%

White-list share

0.00%

From the government-bond («white list») share certified by the issuer every semester: 12.5% on that portion, 26% on the rest.

Deep-dive into this fund’s taxation →

Stock exchange listings

Exchange	Ticker	Trading since
Börse Düsseldorf	LVDX	3 Jul 2020
Börse Frankfurt	LVDX	3 Jul 2020
Börse Hamburg	LVDX	15 Feb 2021
Börse Hannover	LVDX	9 Dec 2024
Börse München / gettex	LVDX	3 Jul 2020
Börse Stuttgart	LVDX	8 Jul 2020
Tradegate Exchange	LVDX	3 Jul 2020
Xetra (Deutsche Börse)	LVDX	15 Jul 2020

+ 9 more trading venues (MTFs and professional platforms).

Trading venues from the official ESMA register (FIRDS); per-exchange tickers from the issuer’s tax documents and official listings. A dash “—” = that venue does not publish the item (ticker, currency or start date) in the sources we read. The same fund may trade in different currencies depending on the exchange: check the trading currency with your broker. Non-EU listings (e.g. UK, Mexico) not included.

Frequently asked questions

Which index does Amundi LevDax Daily (2x) leveraged UCITS ETF Dist track?

The issuer Amundi declares the benchmark: LevDAX Index.

How much does LVDX cost?

The issuer-declared TER is 0.35% per year; the transaction costs estimated in the KID are 0.00%.

How is LVDX taxed in Italy?

On sale, the capital gain is taxed at an effective 26.00% rate (white-list share 0.00%): 12.5% on the government-bond “white list” portion, 26% on the rest.

What is the fund size of LVDX?

The fund size declared by Amundi is about 17 million euro.

When was LVDX launched?

The fund was launched on 2 July 2020: it has 6 years of history.

How does LVDX replicate its index?

It is a passively managed ETF: it follows the declared index. Synthetic (swap) (issuer wording: “Indirect(Swap Based)”).

Does LVDX pay dividends?

Yes: it is a distributing share class — income is paid out periodically (issuer wording: “Distribution”).

Where does LVDX trade?

Per the official ESMA register it trades on 8 main exchanges, including Börse Düsseldorf (LVDX), Börse Frankfurt (LVDX), Börse Hamburg (LVDX), Börse Hannover (LVDX), Börse München / gettex (LVDX), Börse Stuttgart (LVDX).

What was LVDX's worst fall?

Over the available history (since 2020), the maximum drawdown was -52.04%, reached in September 2022. Past performance is not indicative of future results.

How many securities does LVDX hold?

The declared portfolio holds 40 securities; the top 10 positions weigh 55%.

Transparency note

The data in this sheet is declared by Amundi in the issuer’s official files and endpoints, collected by Rebalix with a monthly refresh; taxation derives from the issuer’s tax documents (Italian Law Decree 138/2011). This is factual information for informational purposes only: it is not financial or tax advice, nor an investment recommendation. Read the fund’s KID and prospectus before investing.