AEJL.L vs. LCAL.L

Last updated Jul 18, 2026

AEJL.L (Lyxor UCITS MSCI AC Asia-Pacific Ex Japan C-E) and LCAL.L (Lyxor MSCI EM Asia UCITS ETF - Acc) are both Asia Pacific Equities funds from Amundi - AEJL.L tracks the MSCI AC Asia Pac Ex JPN NR USD while LCAL.L tracks the MSCI AC Asia Ex Japan NR USD. Both are passively managed. Over the past 3 years, AEJL.L returned 16.92%/yr vs 19.36%/yr for LCAL.L. Their correlation of 0.88 suggests significant overlap in exposure. AEJL.L charges 0.60%/yr vs 0.12%/yr for LCAL.L.

Performance

AEJL.L vs. LCAL.L - Performance Comparison

The chart below illustrates the hypothetical performance of a £10,000 investment in Lyxor UCITS MSCI AC Asia-Pacific Ex Japan C-E (AEJL.L) and Lyxor MSCI EM Asia UCITS ETF - Acc (LCAL.L). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

AEJL.L is traded in GBp, while LCAL.L is traded in GBP. To make them comparable, the LCAL.L values have been converted to GBp using the latest available exchange rates.

Returns By Period

In the year-to-date period, AEJL.L achieves a 15.41% return, which is significantly lower than LCAL.L's 18.39% return.

AEJL.L

• 1D: -2.72%
• 1M: -9.91%
• 6M: 9.63%
• YTD: 15.41%
• 1Y: 27.43%
• 3Y*: 16.92%
• 5Y*: 6.34%
• 10Y*: 68.73%

LCAL.L

• 1D: -1.96%
• 1M: -10.82%
• 6M: 12.29%
• YTD: 18.39%
• 1Y: 32.29%
• 3Y*: 19.36%
• 5Y*: —
• 10Y*: —

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

AEJL.L vs. LCAL.L - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
AEJL.L Lyxor UCITS MSCI AC Asia-Pacific Ex Japan C-E	15.41%	20.45%	11.91%	0.03%	-8.06%	0.93%
LCAL.L Lyxor MSCI EM Asia UCITS ETF - Acc	18.39%	24.13%	13.58%	1.00%	-34.15%	34.44%

Correlation

The correlation between AEJL.L and LCAL.L is 0.98 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.98
Correlation (3Y) Calculated over the trailing 3-year period	0.89
Correlation (All Time) Calculated using the full available price history since Nov 29, 2021	0.88

The correlation between AEJL.L and LCAL.L has been stable across timeframes, ranging from 0.88 to 0.98 - a consistent structural relationship.

AEJL.L vs. LCAL.L - Sectors Allocation Comparison

Sectors	AEJL.L	LCAL.L
Technology	43.1%	52.2%
Financial Services	18.7%	14.4%
Consumer Cyclical	8.8%	9.2%
Industrials	7.2%	6.4%
Basic Materials	5.5%	2.5%
Communication Services	5.5%	5.9%
Healthcare	2.9%	3.2%
Energy	2.5%	1.7%
Consumer Defensive	2.3%	2.5%
Real Estate	1.9%	1.2%
Utilities	1.7%	0.8%

Return for Risk

AEJL.L vs. LCAL.L — Risk / Return Rank

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

AEJL.L

AEJL.L Risk / Return Rank: 54
AEJL.L Sharpe Ratio Rank: 54
AEJL.L Sortino Ratio Rank: 50
AEJL.L Omega Ratio Rank: 56
AEJL.L Calmar Ratio Rank: 56
AEJL.L Martin Ratio Rank: 56

LCAL.L

LCAL.L Risk / Return Rank: 57
LCAL.L Sharpe Ratio Rank: 57
LCAL.L Sortino Ratio Rank: 53
LCAL.L Omega Ratio Rank: 60
LCAL.L Calmar Ratio Rank: 59
LCAL.L Martin Ratio Rank: 57

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.

AEJL.L vs. LCAL.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Lyxor UCITS MSCI AC Asia-Pacific Ex Japan C-E (AEJL.L) and Lyxor MSCI EM Asia UCITS ETF - Acc (LCAL.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.

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.

	AEJL.L	LCAL.L	Difference
Sharpe ratio: Return per unit of total volatility	1.41	1.48	-0.06
Sortino ratio: Return per unit of downside risk	1.93	2.01	-0.08
Omega ratio: Gain probability vs. loss probability	1.27	1.28	-0.01
Calmar ratio: Return relative to maximum drawdown	2.16	2.24	-0.08
Martin ratio: Return relative to average drawdown	7.29	7.46	-0.18

AEJL.L vs. LCAL.L - Sharpe Ratio Comparison

The current AEJL.L Sharpe Ratio is 1.41, which is comparable to the LCAL.L Sharpe Ratio of 1.48. The chart below compares the historical Sharpe Ratios of AEJL.L and LCAL.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.

Drawdowns

AEJL.L vs. LCAL.L - Drawdown Comparison

The maximum AEJL.L drawdown since its inception was -55.23%, which is greater than LCAL.L's maximum drawdown of -43.47%. Use the drawdown chart below to compare losses from any high point for AEJL.L and LCAL.L.

Drawdown Indicators

	AEJL.L	LCAL.L	Difference
Max Drawdown Largest peak-to-trough decline	-55.23%	-43.47%	-11.76%
Max Drawdown (1Y) Largest decline over 1 year	-12.63%	-14.32%	+1.69%
Max Drawdown (3Y) Largest decline over 3 years	-17.13%	-17.64%	+0.51%
Max Drawdown (5Y) Largest decline over 5 years	-22.10%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-28.13%	—	—
Current Drawdown Current decline from peak	-12.63%	-14.32%	+1.69%
Average Drawdown Average peak-to-trough decline	-12.33%	-23.69%	+11.36%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.75%	4.31%	-0.56%

Volatility

AEJL.L vs. LCAL.L - Volatility Comparison

The current volatility for Lyxor UCITS MSCI AC Asia-Pacific Ex Japan C-E (AEJL.L) is 8.93%, while Lyxor MSCI EM Asia UCITS ETF - Acc (LCAL.L) has a volatility of 9.86%. This indicates that AEJL.L experiences smaller price fluctuations and is considered to be less risky than LCAL.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	AEJL.L	LCAL.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	8.93%	9.86%	-0.93%
Volatility (6M) Calculated over the trailing 6-month period	17.23%	19.49%	-2.26%
Volatility (1Y) Calculated over the trailing 1-year period	19.33%	21.77%	-2.44%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.59%	26.09%	-7.50%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	2,741.82%	26.09%	+2,715.73%

AEJL.L vs. LCAL.L - Expense Ratio Comparison

AEJL.L has a 0.60% expense ratio, which is higher than LCAL.L's 0.12% expense ratio.

Dividends

AEJL.L vs. LCAL.L - Dividend Comparison

Neither AEJL.L nor LCAL.L has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both AEJL.L and LCAL.L in my portfolio?

With a correlation of 0.98, AEJL.L and LCAL.L move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which ETF is better, AEJL.L or LCAL.L?

On fees, LCAL.L is cheaper at 0.12% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, AEJL.L or LCAL.L?

LCAL.L is cheaper with a 0.12% expense ratio, compared with 0.60% for AEJL.L.

What is the main difference between AEJL.L and LCAL.L?

AEJL.L tracks MSCI AC Asia Pac Ex JPN NR USD, while LCAL.L tracks MSCI AC Asia Ex Japan NR USD. Their fees differ too: 0.60% for AEJL.L and 0.12% for LCAL.L.