DPAY.L vs. LDEG.L

Last updated Jul 16, 2026

DPAY.L (L&G Digital Payments UCITS ETF USD (Acc)) and LDEG.L (L&G Quality Equity Dividends ESG Exclusions Europe ex-UK UCITS ETF) are both exchange-traded funds - DPAY.L is a Technology Equities fund tracking the Solactive Digital Payments Index NTR, while LDEG.L is a Europe Equities fund tracking the MSCI Europe Ex UK NR EUR. Both are passively managed. Over the past 5 years, DPAY.L returned -5.68%/yr vs 16.27%/yr for LDEG.L. A 0.57 correlation means they provide meaningful diversification when combined. DPAY.L charges 0.49%/yr vs 0.25%/yr for LDEG.L.

Performance

DPAY.L vs. LDEG.L - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in L&G Digital Payments UCITS ETF USD (Acc) (DPAY.L) and L&G Quality Equity Dividends ESG Exclusions Europe ex-UK UCITS ETF (LDEG.L). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

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

Returns By Period

In the year-to-date period, DPAY.L achieves a 2.53% return, which is significantly lower than LDEG.L's 12.56% return.

DPAY.L

• 1D: 2.94%
• 1M: 10.78%
• 6M: 4.05%
• YTD: 2.53%
• 1Y: -5.75%
• 3Y*: 3.47%
• 5Y*: -5.68%
• 10Y*: —

LDEG.L

• 1D: 0.23%
• 1M: 1.09%
• 6M: 10.40%
• YTD: 12.56%
• 1Y: 28.26%
• 3Y*: 26.08%
• 5Y*: 16.27%
• 10Y*: —

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

DPAY.L vs. LDEG.L - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
DPAY.L L&G Digital Payments UCITS ETF USD (Acc)	2.53%	-7.05%	14.10%	20.99%	-31.30%	-15.88%
LDEG.L L&G Quality Equity Dividends ESG Exclusions Europe ex-UK UCITS ETF	12.56%	55.84%	7.00%	20.34%	-8.98%	-0.21%

Correlation

The correlation between DPAY.L and LDEG.L is 0.48, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.48
Correlation (3Y) Calculated over the trailing 3-year period	0.50
Correlation (5Y) Calculated over the trailing 5-year period	0.57
Correlation (All Time) Calculated using the full available price history since May 26, 2021	0.57

The correlation between DPAY.L and LDEG.L has been stable across timeframes, ranging from 0.48 to 0.57 - a consistent structural relationship.

Return for Risk

DPAY.L vs. LDEG.L — Risk / Return Rank

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

DPAY.L

DPAY.L Risk / Return Rank: 7
DPAY.L Sharpe Ratio Rank: 7
DPAY.L Sortino Ratio Rank: 7
DPAY.L Omega Ratio Rank: 7
DPAY.L Calmar Ratio Rank: 7
DPAY.L Martin Ratio Rank: 7

LDEG.L

LDEG.L Risk / Return Rank: 83
LDEG.L Sharpe Ratio Rank: 87
LDEG.L Sortino Ratio Rank: 84
LDEG.L Omega Ratio Rank: 83
LDEG.L Calmar Ratio Rank: 79
LDEG.L Martin Ratio Rank: 79

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.

DPAY.L vs. LDEG.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for L&G Digital Payments UCITS ETF USD (Acc) (DPAY.L) and L&G Quality Equity Dividends ESG Exclusions Europe ex-UK UCITS ETF (LDEG.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.

	DPAY.L	LDEG.L	Difference
Sharpe ratio: Return per unit of total volatility	-0.24	2.00	-2.25
Sortino ratio: Return per unit of downside risk	-0.18	2.79	-2.97
Omega ratio: Gain probability vs. loss probability	0.98	1.35	-0.38
Calmar ratio: Return relative to maximum drawdown	-0.21	3.16	-3.37
Martin ratio: Return relative to average drawdown	-0.38	10.46	-10.84

DPAY.L vs. LDEG.L - Sharpe Ratio Comparison

The current DPAY.L Sharpe Ratio is -0.24, which is lower than the LDEG.L Sharpe Ratio of 2.00. The chart below compares the historical Sharpe Ratios of DPAY.L and LDEG.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

DPAY.L vs. LDEG.L - Drawdown Comparison

The maximum DPAY.L drawdown since its inception was -50.59%, which is greater than LDEG.L's maximum drawdown of -36.14%. Use the drawdown chart below to compare losses from any high point for DPAY.L and LDEG.L.

Drawdown Indicators

	DPAY.L	LDEG.L	Difference
Max Drawdown Largest peak-to-trough decline	-50.59%	-36.14%	-14.45%
Max Drawdown (1Y) Largest decline over 1 year	-27.54%	-8.91%	-18.63%
Max Drawdown (3Y) Largest decline over 3 years	-27.54%	-13.44%	-14.10%
Max Drawdown (5Y) Largest decline over 5 years	-50.27%	-32.24%	-18.03%
Current Drawdown Current decline from peak	-28.35%	-0.11%	-28.24%
Average Drawdown Average peak-to-trough decline	-31.89%	-8.63%	-23.26%
Ulcer Index Depth and duration of drawdowns from previous peaks	15.23%	2.70%	+12.53%

Volatility

DPAY.L vs. LDEG.L - Volatility Comparison

L&G Digital Payments UCITS ETF USD (Acc) (DPAY.L) has a higher volatility of 8.80% compared to L&G Quality Equity Dividends ESG Exclusions Europe ex-UK UCITS ETF (LDEG.L) at 4.32%. This indicates that DPAY.L's price experiences larger fluctuations and is considered to be riskier than LDEG.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	DPAY.L	LDEG.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	8.80%	4.32%	+4.48%
Volatility (6M) Calculated over the trailing 6-month period	19.54%	11.68%	+7.86%
Volatility (1Y) Calculated over the trailing 1-year period	23.66%	14.09%	+9.57%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	26.18%	17.68%	+8.50%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	25.88%	18.37%	+7.51%

DPAY.L vs. LDEG.L - Expense Ratio Comparison

DPAY.L has a 0.49% expense ratio, which is higher than LDEG.L's 0.25% expense ratio.

Dividends

DPAY.L vs. LDEG.L - Dividend Comparison

DPAY.L has not paid dividends to shareholders, while LDEG.L's dividend yield for the trailing twelve months is around 3.56%.

Position	TTM	2025	2024	2023	2022	2021
DPAY.L L&G Digital Payments UCITS ETF USD (Acc)	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
LDEG.L L&G Quality Equity Dividends ESG Exclusions Europe ex-UK UCITS ETF	3.56%	3.42%	4.20%	4.10%	3.69%	3.06%

Frequently Asked Questions

Can I hold both DPAY.L and LDEG.L in my portfolio?

DPAY.L and LDEG.L have a correlation of 0.48, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, DPAY.L or LDEG.L?

On fees, LDEG.L is cheaper at 0.25% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, DPAY.L or LDEG.L?

LDEG.L is cheaper with a 0.25% expense ratio, compared with 0.49% for DPAY.L.

What is the main difference between DPAY.L and LDEG.L?

DPAY.L is categorized as Technology Equities, while LDEG.L is Europe Equities. DPAY.L tracks Solactive Digital Payments Index NTR, while LDEG.L tracks MSCI Europe Ex UK NR EUR. Their fees differ too: 0.49% for DPAY.L and 0.25% for LDEG.L.