5HEP.L vs. L6EW.L

Last updated Jun 5, 2026

5HEP.L (Ossiam ESG Low Carbon Shiller Barclays CAPE® US Sector UCITS ETF 1A (USD)) and L6EW.L (Ossiam Stoxx Europe 600 Equal Weight NR UCITS) are both exchange-traded funds - 5HEP.L is a Large Cap Blend Equities fund tracking the Russell 1000 TR USD, while L6EW.L is a Europe Equities fund tracking the MSCI Europe NR EUR. Both are passively managed. Over the past 5 years, 5HEP.L returned 3.50%/yr vs 5.20%/yr for L6EW.L. A 0.64 correlation means they provide meaningful diversification when combined. 5HEP.L charges 0.75%/yr vs 0.35%/yr for L6EW.L.

Performance

5HEP.L vs. L6EW.L - Performance Comparison

The chart below illustrates the hypothetical performance of a £10,000 investment in Ossiam ESG Low Carbon Shiller Barclays CAPE® US Sector UCITS ETF 1A (USD) (5HEP.L) and Ossiam Stoxx Europe 600 Equal Weight NR UCITS (L6EW.L). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, 5HEP.L achieves a -0.99% return, which is significantly lower than L6EW.L's 4.68% return.

5HEP.L

• 1D: 1.36%
• 1M: 0.44%
• YTD: -0.99%
• 6M: 1.11%
• 1Y: 6.57%
• 3Y*: 1.62%
• 5Y*: 3.50%
• 10Y*: —

L6EW.L

• 1D: 0.54%
• 1M: 2.62%
• YTD: 4.68%
• 6M: 7.10%
• 1Y: 15.30%
• 3Y*: 11.36%
• 5Y*: 5.20%
• 10Y*: 8.40%

*Multi-year figures are annualized to reflect compound growth (CAGR)

5HEP.L vs. L6EW.L - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
5HEP.L Ossiam ESG Low Carbon Shiller Barclays CAPE® US Sector UCITS ETF 1A (USD)	-0.99%	-2.61%	5.42%	9.48%	-6.21%	23.62%	19.82%	26.14%	-3.91%
L6EW.L Ossiam Stoxx Europe 600 Equal Weight NR UCITS	4.68%	23.27%	-0.27%	12.61%	-13.76%	13.55%	7.30%	21.13%	-13.54%

Correlation

The correlation between 5HEP.L and L6EW.L is 0.53, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.53
Correlation (3Y) Calculated over the trailing 3-year period	0.49
Correlation (5Y) Calculated over the trailing 5-year period	0.56
Correlation (All Time) Calculated using the full available price history since Jun 14, 2018	0.64

The correlation between 5HEP.L and L6EW.L shifts across timeframes, from 0.49 (3 years) to 0.64 (all time), reflecting how their relationship changes across market environments.

Return for Risk

5HEP.L vs. L6EW.L — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

5HEP.L

5HEP.L Risk / Return Rank: 19
5HEP.L Sharpe Ratio Rank: 20
5HEP.L Sortino Ratio Rank: 19
5HEP.L Omega Ratio Rank: 18
5HEP.L Calmar Ratio Rank: 20
5HEP.L Martin Ratio Rank: 19

L6EW.L

L6EW.L Risk / Return Rank: 33
L6EW.L Sharpe Ratio Rank: 35
L6EW.L Sortino Ratio Rank: 34
L6EW.L Omega Ratio Rank: 35
L6EW.L Calmar Ratio Rank: 28
L6EW.L Martin Ratio Rank: 32

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

5HEP.L vs. L6EW.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Ossiam ESG Low Carbon Shiller Barclays CAPE® US Sector UCITS ETF 1A (USD) (5HEP.L) and Ossiam Stoxx Europe 600 Equal Weight NR UCITS (L6EW.L). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

	5HEP.L	L6EW.L	Difference
Sharpe ratio: Return per unit of total volatility	0.63	1.24	-0.61
Sortino ratio: Return per unit of downside risk	0.95	1.75	-0.80
Omega ratio: Gain probability vs. loss probability	1.11	1.23	-0.12
Calmar ratio: Return relative to maximum drawdown	0.84	1.33	-0.49
Martin ratio: Return relative to average drawdown	2.12	4.76	-2.64
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

5HEP.L vs. L6EW.L - Sharpe Ratio Comparison

The current 5HEP.L Sharpe Ratio is 0.63, which is lower than the L6EW.L Sharpe Ratio of 1.24. The chart below compares the historical Sharpe Ratios of 5HEP.L and L6EW.L, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	5HEP.L	L6EW.L	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.63	1.24	-0.61
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.25	0.34	-0.09
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.54	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.51	0.61	-0.09

Drawdowns

5HEP.L vs. L6EW.L - Drawdown Comparison

The maximum 5HEP.L drawdown since its inception was -24.16%, smaller than the maximum L6EW.L drawdown of -30.88%. Use the drawdown chart below to compare losses from any high point for 5HEP.L and L6EW.L.

Drawdown Indicators

	5HEP.L	L6EW.L	Difference
Max Drawdown Largest peak-to-trough decline	-24.16%	-30.88%	+6.72%
Max Drawdown (1Y) Largest decline over 1 year	-7.77%	-11.43%	+3.66%
Max Drawdown (3Y) Largest decline over 3 years	-19.08%	-12.28%	-6.80%
Max Drawdown (5Y) Largest decline over 5 years	-19.08%	-26.62%	+7.54%
Max Drawdown (10Y) Largest decline over 10 years	—	-30.88%	—
Current Drawdown Current decline from peak	-8.21%	-1.92%	-6.29%
Average Drawdown Average peak-to-trough decline	-5.18%	-5.51%	+0.33%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.09%	3.21%	-0.12%

Volatility

5HEP.L vs. L6EW.L - Volatility Comparison

The current volatility for Ossiam ESG Low Carbon Shiller Barclays CAPE® US Sector UCITS ETF 1A (USD) (5HEP.L) is 3.64%, while Ossiam Stoxx Europe 600 Equal Weight NR UCITS (L6EW.L) has a volatility of 4.00%. This indicates that 5HEP.L experiences smaller price fluctuations and is considered to be less risky than L6EW.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	5HEP.L	L6EW.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.64%	4.00%	-0.36%
Volatility (6M) Calculated over the trailing 6-month period	7.56%	10.33%	-2.77%
Volatility (1Y) Calculated over the trailing 1-year period	10.42%	12.34%	-1.92%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	13.91%	15.25%	-1.34%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.02%	15.61%	+0.41%

5HEP.L vs. L6EW.L - Expense Ratio Comparison

5HEP.L has a 0.75% expense ratio, which is higher than L6EW.L's 0.35% expense ratio.

Dividends

5HEP.L vs. L6EW.L - Dividend Comparison

Neither 5HEP.L nor L6EW.L has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both 5HEP.L and L6EW.L in my portfolio?

5HEP.L and L6EW.L have a correlation of 0.53, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, 5HEP.L or L6EW.L?

On fees, L6EW.L is cheaper at 0.35% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, 5HEP.L or L6EW.L?

L6EW.L is cheaper with a 0.35% expense ratio, compared with 0.75% for 5HEP.L.

What is the main difference between 5HEP.L and L6EW.L?

5HEP.L is categorized as Large Cap Blend Equities, while L6EW.L is Europe Equities. 5HEP.L tracks Russell 1000 TR USD, while L6EW.L tracks MSCI Europe NR EUR. Their fees differ too: 0.75% for 5HEP.L and 0.35% for L6EW.L.