AW1I.DE vs. ETLR.DE

Last updated Jul 16, 2026

AW1I.DE (UBS ETF (IE) MSCI Japan ESG Universal Low Carbon Select UCITS ETF (JPY) Acc) and ETLR.DE (L&G Japan Equity UCITS ETF) are both Japan Equities funds - AW1I.DE tracks the MSCI Japan ESG Universal Low Carbon Select 5% Issuer Capped while ETLR.DE tracks the Solactive Core Japan Large & Mid Cap. Both are passively managed. Over the past 3 years, AW1I.DE returned 17.64%/yr vs 17.34%/yr for ETLR.DE. With a 0.98 correlation, they move nearly in lockstep. AW1I.DE charges 0.15%/yr vs 0.10%/yr for ETLR.DE.

Performance

AW1I.DE vs. ETLR.DE - Performance Comparison

The chart below illustrates the hypothetical performance of a €10,000 investment in UBS ETF (IE) MSCI Japan ESG Universal Low Carbon Select UCITS ETF (JPY) Acc (AW1I.DE) and L&G Japan Equity UCITS ETF (ETLR.DE). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, AW1I.DE achieves a 19.55% return, which is significantly higher than ETLR.DE's 18.27% return.

AW1I.DE

• 1D: 0.00%
• 1M: 2.07%
• 6M: 12.93%
• YTD: 19.55%
• 1Y: 39.39%
• 3Y*: 17.64%
• 5Y*: —
• 10Y*: —

ETLR.DE

• 1D: -1.15%
• 1M: 1.64%
• 6M: 12.08%
• YTD: 18.27%
• 1Y: 36.88%
• 3Y*: 17.34%
• 5Y*: 10.35%
• 10Y*: —

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

AW1I.DE vs. ETLR.DE - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
AW1I.DE UBS ETF (IE) MSCI Japan ESG Universal Low Carbon Select UCITS ETF (JPY) Acc	19.55%	13.16%	14.27%	15.68%	-13.31%	4.61%
ETLR.DE L&G Japan Equity UCITS ETF	18.27%	12.41%	14.84%	16.04%	-12.03%	4.62%

Correlation

The correlation between AW1I.DE and ETLR.DE is 0.96 - 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	0.96
Correlation (3Y) Calculated over the trailing 3-year period	0.97
Correlation (All Time) Calculated using the full available price history since Aug 6, 2021	0.98

The correlation between AW1I.DE and ETLR.DE has been stable across timeframes, ranging from 0.96 to 0.98 - a consistent structural relationship.

Return for Risk

AW1I.DE vs. ETLR.DE — Risk / Return Rank

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

AW1I.DE

AW1I.DE Risk / Return Rank: 80
AW1I.DE Sharpe Ratio Rank: 78
AW1I.DE Sortino Ratio Rank: 78
AW1I.DE Omega Ratio Rank: 78
AW1I.DE Calmar Ratio Rank: 85
AW1I.DE Martin Ratio Rank: 80

ETLR.DE

ETLR.DE Risk / Return Rank: 77
ETLR.DE Sharpe Ratio Rank: 75
ETLR.DE Sortino Ratio Rank: 77
ETLR.DE Omega Ratio Rank: 75
ETLR.DE Calmar Ratio Rank: 82
ETLR.DE Martin Ratio Rank: 77

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.

AW1I.DE vs. ETLR.DE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for UBS ETF (IE) MSCI Japan ESG Universal Low Carbon Select UCITS ETF (JPY) Acc (AW1I.DE) and L&G Japan Equity UCITS ETF (ETLR.DE). 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.

	AW1I.DE	ETLR.DE	Difference
Sharpe ratio: Return per unit of total volatility	1.98	1.92	+0.06
Sortino ratio: Return per unit of downside risk	2.81	2.77	+0.04
Omega ratio: Gain probability vs. loss probability	1.37	1.36	+0.01
Calmar ratio: Return relative to maximum drawdown	3.76	3.52	+0.24
Martin ratio: Return relative to average drawdown	12.20	11.56	+0.64

AW1I.DE vs. ETLR.DE - Sharpe Ratio Comparison

The current AW1I.DE Sharpe Ratio is 1.98, which is comparable to the ETLR.DE Sharpe Ratio of 1.92. The chart below compares the historical Sharpe Ratios of AW1I.DE and ETLR.DE, 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

AW1I.DE vs. ETLR.DE - Drawdown Comparison

The maximum AW1I.DE drawdown since its inception was -19.66%, smaller than the maximum ETLR.DE drawdown of -27.65%. Use the drawdown chart below to compare losses from any high point for AW1I.DE and ETLR.DE.

Drawdown Indicators

	AW1I.DE	ETLR.DE	Difference
Max Drawdown Largest peak-to-trough decline	-19.66%	-27.65%	+7.99%
Max Drawdown (1Y) Largest decline over 1 year	-10.52%	-10.42%	-0.10%
Max Drawdown (3Y) Largest decline over 3 years	-17.12%	-16.41%	-0.71%
Max Drawdown (5Y) Largest decline over 5 years	—	-18.74%	—
Current Drawdown Current decline from peak	-2.56%	-2.60%	+0.04%
Average Drawdown Average peak-to-trough decline	-6.47%	-5.40%	-1.07%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.24%	3.18%	+0.06%

Volatility

AW1I.DE vs. ETLR.DE - Volatility Comparison

UBS ETF (IE) MSCI Japan ESG Universal Low Carbon Select UCITS ETF (JPY) Acc (AW1I.DE) has a higher volatility of 6.50% compared to L&G Japan Equity UCITS ETF (ETLR.DE) at 6.16%. This indicates that AW1I.DE's price experiences larger fluctuations and is considered to be riskier than ETLR.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	AW1I.DE	ETLR.DE	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.50%	6.16%	+0.34%
Volatility (6M) Calculated over the trailing 6-month period	16.04%	15.45%	+0.59%
Volatility (1Y) Calculated over the trailing 1-year period	20.00%	19.08%	+0.92%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.89%	16.49%	+0.40%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.89%	16.93%	-0.04%

AW1I.DE vs. ETLR.DE - Expense Ratio Comparison

AW1I.DE has a 0.15% expense ratio, which is higher than ETLR.DE's 0.10% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

AW1I.DE vs. ETLR.DE - Dividend Comparison

Neither AW1I.DE nor ETLR.DE has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both AW1I.DE and ETLR.DE in my portfolio?

With a correlation of 0.96, AW1I.DE and ETLR.DE 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, AW1I.DE or ETLR.DE?

On fees, ETLR.DE is cheaper at 0.10% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, AW1I.DE or ETLR.DE?

ETLR.DE is cheaper with a 0.10% expense ratio, compared with 0.15% for AW1I.DE.

What is the main difference between AW1I.DE and ETLR.DE?

AW1I.DE tracks MSCI Japan ESG Universal Low Carbon Select 5% Issuer Capped, while ETLR.DE tracks Solactive Core Japan Large & Mid Cap. They also come from different issuers: UBS and Legal & General. Their fees differ too: 0.15% for AW1I.DE and 0.10% for ETLR.DE.