Scalable AC World Leveraged
The world:
2x leveraged
Gain leverage, simplified: With the Scalable MSCI AC World Leveraged Daily Swap Xtrackers ETF. The first ETF to offer true global leveraged exposure.
ISIN: LU3386643970 | WKN: DBX2SC
Investing involves risks. No investment advice.
True global leverage First 2x on the AC World index |
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Hyper diversification Developed and emerging markets |
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Simple leverage Leverage without complex derivatives |
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Scalable & Xtrackers Combined capital market expertise |
New ways to leverage
Gain broad global exposure with leverage in a simple structure through the Scalable MSCI AC World Leveraged Daily Swap Xtrackers ETF –
the first of its kind. With product costs (TER) of just 0.45% p.a., it's the simplest and most efficient way to unlock global potential.
Leverage global performance
Leveraged ETFs double daily market movements, amplifying both gains and losses. The following chart illustrates how this dual exposure affects long-term portfolio performance.
Boosted by a decade of growth, the 2x leveraged index returned 22.08% p.a. over 10 years, outperforming the standard MSCI ACWI's 12.02% p.a. However, sharper fluctuations highlight the impact of volatility drag during market shifts.
Index comparison of MSCI ACWI vs Leveraged MSCI ACWI
This graph represents the underlying net index performance. Actual ETF returns may vary due to tracking error, fund expenses and transaction costs.
Source: MSCI
Copyright MSCI 2026. Unpublished. All Rights Reserved.
This information may only be used for your internal use, may not be reproduced or redisseminated in any form and may not be used to create any financial instruments or products or any indexes. None of this information is intended to constitute investment advice or a recommendation to make (or refrain from making) any kind of investment decision and may not be relied on as such. Historical data and analysis should not be taken as an indication or guarantee of any future performance, analysis, forecast or prediction. This information is provided on an “as is” basis and the user of this information assumes the entire risk of any use it may make or permit to be made of this information. Neither MSCI, any or its affiliates or any other person involved in or related to compiling, computing or creating this information makes any express or implied warranties or representations with respect to such information or the results to be obtained by the use thereof, and MSCI, its affiliates and each such other person hereby expressly disclaim all warranties (including, without limitation, all warranties of originality, accuracy, completeness, timeliness, non-infringement, merchantability and fitness for a particular purpose) with respect to this information. Without limiting any of the foregoing, in no event shall MSCI, any of its affiliates or any other person involved in or related to compiling, computing or creating this information have any liability for any direct, indirect, special, incidental, punitive, consequential or any other damages (including, without limitation, lost profits) even if notified of, or if it might otherwise have anticipated, the possibility of such damages.
Past performance is not a reliable indicator of future performance. Investment involves risks.
Unleash global potential
Gain leverage, simplified.
A leveraged ETF offers amplified participation in market movements (up and down) and simple access to leveraged exposure, eliminating complex derivatives trading.
Opportunities
The MSCI ACWI leveraged 2x index covers developed and emerging markets, providing exposure to 47 countries and more than 2,500 single stocks.
Leverage offers the potential for amplified returns by seeking to deliver twice the daily performance of the index.
With leverage, a greater exposure to the index can be achieved without committing as much capital, leaving room for alternative asset allocation.
Risk
Leverage means that losses are amplified just as much as gains.
Leverage ETFs daily reset their leverage to consistently provide the stated multiple of the daily return, so the profit or loss is only guaranteed for one day.
Leveraged ETF performance may deviate from the underlying index's multiple due to compounding, which boosts returns in trending markets but erodes value ("volatility drag") in volatile, sideways markets.
Power your portfolio
How a leveraged ETF can be used effectively.
Leveraged ETFs are for experienced investors: Active traders expressing short-term market views, and medium to long-term investors aiming to capture potential market upside despite elevated levels of volatility and risk.
 | Keep in mind: Leveraged ETFs are high-risk investments requiring regular monitoring. Avoid high concentrations. |
How can it be integrated in a portfolio?
Custom leverage
With a combination of 1x and 2x, an individual leverage factor can be achieved, which can tilt potential returns upwards while aligning with personal risk preferences.
E.g., a 50/50 split between the Scalable AC World ETF and the 2x version builds an effective 1.5x leveraged global portfolio.
To keep the leverage constant, regular monitoring and rebalancing are required.
Automated savings plans
A savings plan utilises the cost-averaging effect to manage entry prices, smoothing out amplified price swings and making it easier to navigate the inherent volatility of a 2x ETF.
While regular, automated investments are a great tool for capturing longer-term upward market trends, the amplified fluctuations and compounding nature require active monitoring of the position rather than simply letting it run.
High-conviction trading
Leverage can be used tactically to capitalise on a strong short-to-medium-term market view, amplifying potential returns and allowing investors to capture anticipated market rallies or sustained recoveries.
While the 2x leverage is a powerful instrument for converting market expectations into accelerated gains, the product is designed for targeted market phases and is generally not intended for long-term investment or permanent holding.
FAQ
More questions about the Scalable Leverage ETF are answered in our FAQs page.
The ETF achieves its objective through synthetic replication of the chosen index. By utilising a swap agreement on a leveraged version of the MSCI ACWI Index, namely the MSCI ACWI Leveraged 2X Daily Index (the “Leveraged Swap Index”), the fund aims to provide a leveraged return of the MSCI ACWI index while minimising tracking error and transaction costs.
To maintain a consistent 2x leverage ratio, the exposure is reset daily. Because the MSCI ACWI covers global markets across vastly different time zones, the leveraged swap index underlying the ETF applies a "staggered" reset. This mechanism aims to carefully align the closing prices of Asian, European and US markets with the leverage ratio, allowing the fund to replicate the global strategy efficiently and cost-effectively.
While both offer global market exposure based on the MSCI All Country World Index (MSCI ACWI), they serve different strategic purposes:
- Scalable AC World ETF: Designed as a core long-term foundation for any portfolio. It uses hybrid replication to gain systematic outperformance vs. its underlying index.
- Scalable AC World Leveraged ETF: Designed as a tactical tool for experienced investors. It uses a synthetic (swap-based) structure to efficiently amplify daily returns, resulting in materially higher volatility. This makes it better suited for those with a higher risk appetite seeking magnified market exposure.
To create the best ETFs, Scalable Capital has partnered with Xtrackers by DWS, a longstanding partner and esteemed ETF issuer domiciled in Germany with many years of experience in the ETF industry. Xtrackers by DWS offers approximately 300 ETFs across diverse asset classes under the Xtrackers brand, with over USD 317 billion in assets under management. Xtrackers by DWS ensures the ETF holdings assets are secure and well-managed as a UCITS ETF, including regulatory compliance, asset custody, transparency, multi-layered security measures, and risk management.
The Leveraged Swap Index is based on the reference index and reflects its daily movements with a leverage factor of two, achieved through short-term borrowing, less the cost of such borrowing. The daily performance of the leveraged swap Index will be driven by four main factors:
- The share price performance of the underlying equity securities comprising the reference index
- Dividends paid by the underlying equity securities comprising the reference index
- Minus a rate of interest representing the costs of borrowing capital in Euro for the purpose of leveraging a portfolio to achieve the leveraged return
- An adjustment factor on the leverage to reflect the “staggered” reset mechanism
As the final daily return incorporates these factors, the effective performance reflects a comprehensive calculation, which naturally introduces nuances compared to a simple, unadjusted mathematical doubling of the underlying index performance between two different dates.
The ETF is tradable on Xetra, gettex, the European Investor Exchange and many other European stock exchanges. You can find the ETF with the ISIN: LU3386643970 or the WKN: DBX2SC.
Should it not be available in your chosen broker, you can contact their client service requesting it being added for trading.
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