BUGG.L vs. ISPY.L

Last updated Jun 26, 2026

BUGG.L (Global X Cybersecurity UCITS ETF USD Accumulating) and ISPY.L (L&G Cyber Security UCITS ETF) are both exchange-traded funds - BUGG.L is a Technology Equities fund tracking the MSCI World/Information Tech NR USD, while ISPY.L is a Cybersecurity fund tracking the ISE Cyber Security UCITS Index. Both are passively managed. Over the past 3 years, BUGG.L returned 11.95%/yr vs 24.83%/yr for ISPY.L. Their correlation of 0.91 suggests significant overlap in exposure. BUGG.L charges 0.50%/yr vs 0.69%/yr for ISPY.L.

Performance

BUGG.L vs. ISPY.L - Performance Comparison

The chart below illustrates the hypothetical performance of a £10,000 investment in Global X Cybersecurity UCITS ETF USD Accumulating (BUGG.L) and L&G Cyber Security UCITS ETF (ISPY.L). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

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

Returns By Period

In the year-to-date period, BUGG.L achieves a 14.22% return, which is significantly lower than ISPY.L's 33.28% return.

BUGG.L

• 1D: 0.00%
• 1M: 0.98%
• YTD: 14.22%
• 6M: 13.16%
• 1Y: -3.92%
• 3Y*: 11.95%
• 5Y*: —
• 10Y*: —

ISPY.L

• 1D: 0.43%
• 1M: 2.85%
• YTD: 33.28%
• 6M: 32.38%
• 1Y: 29.35%
• 3Y*: 24.83%
• 5Y*: 10.71%
• 10Y*: 17.21%

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

BUGG.L vs. ISPY.L - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
BUGG.L Global X Cybersecurity UCITS ETF USD Accumulating	14.22%	-11.39%	11.20%	36.05%	-27.09%	-30.50%
ISPY.L L&G Cyber Security UCITS ETF	33.28%	0.28%	19.68%	34.35%	-24.57%	-6.09%

Correlation

The correlation between BUGG.L and ISPY.L is 0.90, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.90
Correlation (3Y) Calculated over the trailing 3-year period	0.89
Correlation (All Time) Calculated using the full available price history since Nov 16, 2021	0.91

The correlation between BUGG.L and ISPY.L has been stable across timeframes, ranging from 0.89 to 0.91 - a consistent structural relationship.

Return for Risk

BUGG.L vs. ISPY.L — Risk / Return Rank

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

BUGG.L

BUGG.L Risk / Return Rank: 8
BUGG.L Sharpe Ratio Rank: 8
BUGG.L Sortino Ratio Rank: 8
BUGG.L Omega Ratio Rank: 8
BUGG.L Calmar Ratio Rank: 8
BUGG.L Martin Ratio Rank: 8

ISPY.L

ISPY.L Risk / Return Rank: 32
ISPY.L Sharpe Ratio Rank: 33
ISPY.L Sortino Ratio Rank: 31
ISPY.L Omega Ratio Rank: 36
ISPY.L Calmar Ratio Rank: 31
ISPY.L Martin Ratio Rank: 27

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.

BUGG.L vs. ISPY.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Global X Cybersecurity UCITS ETF USD Accumulating (BUGG.L) and L&G Cyber Security UCITS ETF (ISPY.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.

	BUGG.L	ISPY.L	Difference
Sharpe ratio: Return per unit of total volatility	-0.13	1.11	-1.24
Sortino ratio: Return per unit of downside risk	0.03	1.60	-1.58
Omega ratio: Gain probability vs. loss probability	1.00	1.22	-0.22
Calmar ratio: Return relative to maximum drawdown	-0.11	1.44	-1.55
Martin ratio: Return relative to average drawdown	-0.23	3.57	-3.80

BUGG.L vs. ISPY.L - Sharpe Ratio Comparison

The current BUGG.L Sharpe Ratio is -0.13, which is lower than the ISPY.L Sharpe Ratio of 1.11. The chart below compares the historical Sharpe Ratios of BUGG.L and ISPY.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

BUGG.L vs. ISPY.L - Drawdown Comparison

The maximum BUGG.L drawdown since its inception was -50.67%, roughly equal to the maximum ISPY.L drawdown of -50.17%. Use the drawdown chart below to compare losses from any high point for BUGG.L and ISPY.L.

Drawdown Indicators

	BUGG.L	ISPY.L	Difference
Max Drawdown Largest peak-to-trough decline	-50.67%	-50.17%	-0.50%
Max Drawdown (1Y) Largest decline over 1 year	-36.02%	-20.33%	-15.69%
Max Drawdown (3Y) Largest decline over 3 years	-40.14%	-28.19%	-11.95%
Max Drawdown (5Y) Largest decline over 5 years	—	-31.77%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-31.77%	—
Current Drawdown Current decline from peak	-22.41%	-6.47%	-15.94%
Average Drawdown Average peak-to-trough decline	-33.48%	-12.92%	-20.56%
Ulcer Index Depth and duration of drawdowns from previous peaks	17.09%	8.20%	+8.89%

Volatility

BUGG.L vs. ISPY.L - Volatility Comparison

Global X Cybersecurity UCITS ETF USD Accumulating (BUGG.L) has a higher volatility of 12.65% compared to L&G Cyber Security UCITS ETF (ISPY.L) at 11.08%. This indicates that BUGG.L's price experiences larger fluctuations and is considered to be riskier than ISPY.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BUGG.L	ISPY.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	12.65%	11.08%	+1.57%
Volatility (6M) Calculated over the trailing 6-month period	26.98%	23.17%	+3.81%
Volatility (1Y) Calculated over the trailing 1-year period	30.31%	26.23%	+4.08%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	29.59%	27.21%	+2.38%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	29.59%	24.31%	+5.28%

BUGG.L vs. ISPY.L - Expense Ratio Comparison

BUGG.L has a 0.50% expense ratio, which is lower than ISPY.L's 0.69% expense ratio.

Dividends

BUGG.L vs. ISPY.L - Dividend Comparison

Neither BUGG.L nor ISPY.L has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both BUGG.L and ISPY.L in my portfolio?

With a correlation of 0.90, BUGG.L and ISPY.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, BUGG.L or ISPY.L?

On fees, BUGG.L is cheaper at 0.50% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, BUGG.L or ISPY.L?

BUGG.L is cheaper with a 0.50% expense ratio, compared with 0.69% for ISPY.L.

What is the main difference between BUGG.L and ISPY.L?

BUGG.L is categorized as Technology Equities, while ISPY.L is Cybersecurity. BUGG.L tracks MSCI World/Information Tech NR USD, while ISPY.L tracks ISE Cyber Security UCITS Index. They also come from different issuers: Global X and L&G. Their fees differ too: 0.50% for BUGG.L and 0.69% for ISPY.L.