BIOT.L vs. LUK2.L

Last updated Jul 18, 2026

BIOT.L (L&G Pharma Breakthrough UCITS ETF - USD Accumulating ETF) and LUK2.L (L&G FTSE 100 Leveraged (Daily 2x) UCITS ETF GBP (Acc)) are both exchange-traded funds - BIOT.L is a Health & Biotech Equities fund tracking the Solactive Pharma Breakthrough Value Index Net Total Return, while LUK2.L is a Leveraged Equities fund tracking the FTSE 100 Daily Leveraged Index. Both are passively managed. Over the past 5 years, BIOT.L returned 2.89%/yr vs 16.78%/yr for LUK2.L. A 0.53 correlation means they provide meaningful diversification when combined. BIOT.L charges 0.49%/yr vs 0.50%/yr for LUK2.L.

Performance

BIOT.L vs. LUK2.L - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in L&G Pharma Breakthrough UCITS ETF - USD Accumulating ETF (BIOT.L) and L&G FTSE 100 Leveraged (Daily 2x) UCITS ETF GBP (Acc) (LUK2.L). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

BIOT.L is traded in USD, while LUK2.L is traded in GBp. To make them comparable, the LUK2.L values have been converted to USD using the latest available exchange rates.

Returns By Period

In the year-to-date period, BIOT.L achieves a 8.59% return, which is significantly lower than LUK2.L's 12.79% return.

BIOT.L

• 1D: 0.07%
• 1M: 6.33%
• 6M: 9.47%
• YTD: 8.59%
• 1Y: 32.65%
• 3Y*: 10.27%
• 5Y*: 2.89%
• 10Y*: —

LUK2.L

• 1D: 0.46%
• 1M: 2.55%
• 6M: 7.10%
• YTD: 12.79%
• 1Y: 36.40%
• 3Y*: 25.34%
• 5Y*: 16.78%
• 10Y*: 10.80%

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

BIOT.L vs. LUK2.L - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
BIOT.L L&G Pharma Breakthrough UCITS ETF - USD Accumulating ETF	8.59%	36.47%	-5.31%	-9.28%	-8.41%	-3.60%	28.29%	13.02%	-8.12%
LUK2.L L&G FTSE 100 Leveraged (Daily 2x) UCITS ETF GBP (Acc)	12.79%	54.57%	7.98%	12.21%	-7.34%	33.53%	-28.30%	37.83%	-27.25%

Correlation

The correlation between BIOT.L and LUK2.L is 0.41, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.41
Correlation (3Y) Calculated over the trailing 3-year period	0.49
Correlation (5Y) Calculated over the trailing 5-year period	0.54
Correlation (All Time) Calculated using the full available price history since Jan 18, 2018	0.53

The correlation between BIOT.L and LUK2.L shifts across timeframes, from 0.41 (1 year) to 0.54 (5 years), reflecting how their relationship changes across market environments.

Return for Risk

BIOT.L vs. LUK2.L — Risk / Return Rank

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

BIOT.L

BIOT.L Risk / Return Rank: 69
BIOT.L Sharpe Ratio Rank: 66
BIOT.L Sortino Ratio Rank: 67
BIOT.L Omega Ratio Rank: 58
BIOT.L Calmar Ratio Rank: 84
BIOT.L Martin Ratio Rank: 72

LUK2.L

LUK2.L Risk / Return Rank: 57
LUK2.L Sharpe Ratio Rank: 65
LUK2.L Sortino Ratio Rank: 61
LUK2.L Omega Ratio Rank: 64
LUK2.L Calmar Ratio Rank: 50
LUK2.L Martin Ratio Rank: 46

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.

BIOT.L vs. LUK2.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for L&G Pharma Breakthrough UCITS ETF - USD Accumulating ETF (BIOT.L) and L&G FTSE 100 Leveraged (Daily 2x) UCITS ETF GBP (Acc) (LUK2.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.

	BIOT.L	LUK2.L	Difference
Sharpe ratio: Return per unit of total volatility	1.61	1.50	+0.11
Sortino ratio: Return per unit of downside risk	2.32	2.09	+0.23
Omega ratio: Gain probability vs. loss probability	1.27	1.27	0.00
Calmar ratio: Return relative to maximum drawdown	3.40	1.92	+1.48
Martin ratio: Return relative to average drawdown	9.73	5.46	+4.27

BIOT.L vs. LUK2.L - Sharpe Ratio Comparison

The current BIOT.L Sharpe Ratio is 1.61, which is comparable to the LUK2.L Sharpe Ratio of 1.50. The chart below compares the historical Sharpe Ratios of BIOT.L and LUK2.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

BIOT.L vs. LUK2.L - Drawdown Comparison

The maximum BIOT.L drawdown since its inception was -34.44%, smaller than the maximum LUK2.L drawdown of -64.37%. Use the drawdown chart below to compare losses from any high point for BIOT.L and LUK2.L.

Drawdown Indicators

	BIOT.L	LUK2.L	Difference
Max Drawdown Largest peak-to-trough decline	-34.44%	-64.37%	+29.93%
Max Drawdown (1Y) Largest decline over 1 year	-9.55%	-18.89%	+9.34%
Max Drawdown (3Y) Largest decline over 3 years	-19.91%	-25.12%	+5.21%
Max Drawdown (5Y) Largest decline over 5 years	-33.80%	-34.17%	+0.37%
Max Drawdown (10Y) Largest decline over 10 years	—	-64.37%	—
Current Drawdown Current decline from peak	-5.43%	-6.38%	+0.95%
Average Drawdown Average peak-to-trough decline	-13.31%	-13.04%	-0.27%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.35%	6.65%	-3.30%

Volatility

BIOT.L vs. LUK2.L - Volatility Comparison

L&G Pharma Breakthrough UCITS ETF - USD Accumulating ETF (BIOT.L) and L&G FTSE 100 Leveraged (Daily 2x) UCITS ETF GBP (Acc) (LUK2.L) have volatilities of 5.96% and 5.99%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BIOT.L	LUK2.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.96%	5.99%	-0.03%
Volatility (6M) Calculated over the trailing 6-month period	15.54%	20.97%	-5.43%
Volatility (1Y) Calculated over the trailing 1-year period	20.19%	24.17%	-3.98%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.62%	28.28%	-9.66%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.50%	31.33%	-11.83%

BIOT.L vs. LUK2.L - Expense Ratio Comparison

BIOT.L has a 0.49% expense ratio, which is lower than LUK2.L's 0.50% expense ratio.

Dividends

BIOT.L vs. LUK2.L - Dividend Comparison

Neither BIOT.L nor LUK2.L has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both BIOT.L and LUK2.L in my portfolio?

BIOT.L and LUK2.L have a correlation of 0.41, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, BIOT.L or LUK2.L?

On fees, BIOT.L is cheaper at 0.49% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, BIOT.L or LUK2.L?

BIOT.L is cheaper with a 0.49% expense ratio, compared with 0.50% for LUK2.L.

What is the main difference between BIOT.L and LUK2.L?

BIOT.L is categorized as Health & Biotech Equities, while LUK2.L is Leveraged Equities. BIOT.L tracks Solactive Pharma Breakthrough Value Index Net Total Return, while LUK2.L tracks FTSE 100 Daily Leveraged Index. Their fees differ too: 0.49% for BIOT.L and 0.50% for LUK2.L.