- Issuer
- L&G
- Inception Date
- Aug 13, 2024
- Category
- Global Equities
- Leveraged
- 1x (No leverage)
- Index Tracked
- L&G Multi-Strategy Enhanced Commodities UCITS ETF
- Distribution Policy
- Accumulating
- Asset Class
- Equity
Share Price Chart
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Performance
ENCO.L Performance Chart
L&G Multi-Strategy Enhanced Commodities UCITS ETF (ENCO.L) is up 20.1% since the beginning of the year. ENCO.L is currently trading at $18 per share.
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Returns By Period
L&G Multi-Strategy Enhanced Commodities UCITS ETF (ENCO.L) has returned 20.05% so far this year and 24.71% over the past 12 months.
L&G Multi-Strategy Enhanced Commodities UCITS ETF
- 1D
- 0.22%
- 1M
- 1.46%
- 6M
- 15.07%
- YTD
- 20.05%
- 1Y
- 24.71%
- 3Y*
- 9.97%
- 5Y*
- —
- 10Y*
- —
Benchmark (S&P 500 Index)
- 1D
- 0.38%
- 1M
- 0.24%
- 6M
- 9.32%
- YTD
- 10.62%
- 1Y
- 21.28%
- 3Y*
- 18.90%
- 5Y*
- 11.84%
- 10Y*
- 13.36%
ENCO.L Monthly Returns History
Based on dividend-adjusted daily data since Jul 26, 2021, ENCO.L's average daily return is +0.05%, while the average monthly return is +1.03%. At this rate, an investment would double in approximately 5.6 years.
Historically, 62% of months were positive and 38% were negative. The best month was Mar 2026 with a return of +12.1%, while the worst month was Jun 2022 at -10.2%. The longest winning streak lasted 6 consecutive months, and the longest losing streak was 4 months.
On a daily basis, ENCO.L closed higher 53% of trading days. The best single day was Jul 18, 2022 with a return of +5.8%, while the worst single day was Jul 5, 2022 at -5.7%.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | 8.33% | 0.55% | 12.05% | 3.82% | -2.42% | -8.35% | 5.94% | 20.05% | |||||
| 2025 | 5.05% | -0.96% | 2.64% | -6.36% | -0.36% | 2.68% | 2.05% | 1.73% | 1.09% | 0.40% | 1.00% | -0.46% | 8.38% |
| 2024 | 0.07% | -0.97% | 4.00% | 1.81% | -1.14% | -0.36% | -4.05% | 0.75% | 2.02% | -0.44% | 1.69% | 0.36% | 3.59% |
| 2023 | 2.31% | -4.01% | -0.45% | -0.25% | -5.25% | 3.61% | 6.86% | 0.43% | 0.43% | -1.70% | -0.86% | -2.98% | -2.45% |
| 2022 | 6.93% | 7.58% | 11.60% | 6.34% | 4.77% | -10.18% | 4.37% | 0.13% | -9.15% | 0.61% | 2.09% | -1.52% | 23.37% |
| 2021 | 0.25% | -0.10% | 8.04% | 2.63% | -5.48% | 3.93% | 9.08% |
Benchmark Metrics
L&G Multi-Strategy Enhanced Commodities UCITS ETF has an annualized alpha of 11.29%, beta of 0.07, and R2 of 0.00 versus S&P 500 Index. Calculated based on daily prices since July 26, 2021.
- This ETF captured 28.05% of S&P 500 Index gains and tended to rise during its downturns (downside capture of -2.48%) - a profile typical of hedging or uncorrelated assets.
- Beta of 0.07 may look defensive, but with R2 of 0.00 this ETF is largely uncorrelated with S&P 500 Index - low beta reflects independence, not downside protection. See the Volatility section for a true picture of this ETF's risk.
- R2 of 0.00 means this ETF moves largely independently of S&P 500 Index - capture ratios reflect limited market correlation rather than active downside protection. Consider using a more representative benchmark.
- Alpha
- 11.29%
- Beta
- 0.07
- R²
- 0.00
- Upside Capture
- 28.05%
- Downside Capture
- -2.48%
Expense Ratio
ENCO.L has an expense ratio of 0.30%, placing it in the medium range.
Return for Risk
Risk / Return Rank
ENCO.L ranks 52 for risk / return — on par with similar ETFs. You're getting a typical balance of risk and reward. Not a standout, but not a red flag either — a reasonable choice if other factors align with your goals.
Return / Risk — by metrics
The table below present risk-adjusted performance metrics for L&G Multi-Strategy Enhanced Commodities UCITS ETF (ENCO.L) and compare them to S&P 500 Index.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| ENCO.L | Benchmark | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.10 | ||
| Sortino ratioReturn per unit of downside risk | -0.18 | ||
| Omega ratioGain probability vs. loss probability | 1.28 | 1.31 | -0.03 |
| Calmar ratioReturn relative to maximum drawdown | 1.91 | 2.35 | -0.44 |
| Martin ratioReturn relative to average drawdown | 6.40 | 10.19 | -3.79 |
Dividends
Dividend History
Drawdowns
Drawdowns Chart
The Drawdowns chart displays portfolio losses from any high point along the way. Drawdowns are calculated considering price movements and all distributions paid, if any.
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Worst Drawdowns
The table below displays the maximum drawdowns of the L&G Multi-Strategy Enhanced Commodities UCITS ETF. A maximum drawdown is a measure of risk, indicating the largest reduction in portfolio value due to a series of losing trades.
The maximum drawdown for the L&G Multi-Strategy Enhanced Commodities UCITS ETF was 23.99%, occurring on May 31, 2023. Recovery took 697 trading sessions.
The current L&G Multi-Strategy Enhanced Commodities UCITS ETF drawdown is 7.40%.
Drawdown | Fall | Recovery | Underwater | Related event |
|---|---|---|---|---|
-23.99%May 2023 | 11mo 26d | 2y 9mo | 3y 8moJun 2022 - Mar 2026 | — |
-12.95%Jun 2026 | 1mo 11d | — | 2mo 3dMay 2026 - now | — |
-9.34%Mar 2022 | 7d | 27d | 1mo 4dMar 2022 - Apr 2022 | Bear market2022 |
-8.67%Dec 2021 | 24d | 28d | 1mo 22dNov 2021 - Jan 2022 | — |
-6.17%May 2022 | 1d | 7d | 8dMay 2022 - May 2022 | Bear market2022 |
Drawdown Indicators
| ENCO.L | Benchmark | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -23.99% | -56.78% | +32.79% |
Max Drawdown (1Y)Largest decline over 1 year | -12.95% | -9.10% | -3.85% |
Max Drawdown (3Y)Largest decline over 3 years | -12.95% | -18.90% | +5.95% |
Max Drawdown (5Y)Largest decline over 5 years | — | -25.43% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -33.92% | — |
Current DrawdownCurrent decline from peak | -7.40% | -0.49% | -6.91% |
Average DrawdownAverage peak-to-trough decline | -12.40% | -10.70% | -1.70% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.86% | 2.09% | +1.77% |
Volatility
Volatility Chart
The chart below shows the rolling one-month volatility.
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