EMUG.L vs. LUK2.L
EMUG.L (L&G Emerging Markets Corporate Bond (USD) Screened UCITS ETF USD (Dist)) and LUK2.L (L&G FTSE 100 Leveraged (Daily 2x) UCITS ETF GBP (Acc)) are both exchange-traded funds - EMUG.L is a Emerging Markets Bonds fund tracking the J.P. Morgan ESG CEMBI Broad Diversified Custom Maturity Index, while LUK2.L is a Leveraged Equities fund tracking the FTSE 100 Daily Leveraged Index. Both are passively managed. Over the past 5 years, EMUG.L returned 1.01%/yr vs 17.31%/yr for LUK2.L. At a correlation of -0.06, they often move in opposite directions. EMUG.L charges 0.35%/yr vs 0.50%/yr for LUK2.L.
Performance
EMUG.L vs. LUK2.L - Performance Comparison
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Returns By Period
In the year-to-date period, EMUG.L achieves a -4.22% return, which is significantly lower than LUK2.L's 12.85% return.
EMUG.L
- 1D
- 0.52%
- 1M
- -3.43%
- 6M
- -2.27%
- YTD
- -4.22%
- 1Y
- -0.74%
- 3Y*
- 3.48%
- 5Y*
- 1.01%
- 10Y*
- —
LUK2.L
- 1D
- 0.67%
- 1M
- 1.34%
- 6M
- 6.53%
- YTD
- 12.85%
- 1Y
- 36.06%
- 3Y*
- 24.04%
- 5Y*
- 17.31%
- 10Y*
- 10.51%
EMUG.L vs. LUK2.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
EMUG.L L&G Emerging Markets Corporate Bond (USD) Screened UCITS ETF USD (Dist) | -4.22% | 1.10% | 7.35% | 1.04% | -0.88% | -25.37% |
LUK2.L L&G FTSE 100 Leveraged (Daily 2x) UCITS ETF GBP (Acc) | 12.85% | 43.73% | 9.81% | 6.59% | 3.75% | 21.89% |
Correlation
The correlation between EMUG.L and LUK2.L is -0.01, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.01 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.02 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.05 |
Correlation (All Time) Calculated using the full available price history since Jan 15, 2021 | -0.06 |
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Return for Risk
EMUG.L vs. LUK2.L — Risk / Return Rank
EMUG.L
LUK2.L
EMUG.L vs. LUK2.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for L&G Emerging Markets Corporate Bond (USD) Screened UCITS ETF USD (Dist) (EMUG.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.
| EMUG.L | LUK2.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.69 | ||
| Sortino ratioReturn per unit of downside risk | -2.27 | ||
| Omega ratioGain probability vs. loss probability | 0.99 | 1.29 | -0.30 |
| Calmar ratioReturn relative to maximum drawdown | -0.10 | 1.94 | -2.04 |
| Martin ratioReturn relative to average drawdown | -0.22 | 5.67 | -5.89 |
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Drawdowns
EMUG.L vs. LUK2.L - Drawdown Comparison
The maximum EMUG.L drawdown since its inception was -30.45%, smaller than the maximum LUK2.L drawdown of -58.84%. Use the drawdown chart below to compare losses from any high point for EMUG.L and LUK2.L.
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Drawdown Indicators
| EMUG.L | LUK2.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -30.45% | -58.84% | +28.39% |
Max Drawdown (1Y)Largest decline over 1 year | -7.05% | -18.55% | +11.50% |
Max Drawdown (3Y)Largest decline over 3 years | -8.64% | -25.42% | +16.78% |
Max Drawdown (5Y)Largest decline over 5 years | -11.29% | -25.42% | +14.13% |
Max Drawdown (10Y)Largest decline over 10 years | — | -58.84% | — |
Current DrawdownCurrent decline from peak | -22.35% | -6.16% | -16.19% |
Average DrawdownAverage peak-to-trough decline | -24.29% | -10.67% | -13.62% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.35% | 6.34% | -2.99% |
Volatility
EMUG.L vs. LUK2.L - Volatility Comparison
The current volatility for L&G Emerging Markets Corporate Bond (USD) Screened UCITS ETF USD (Dist) (EMUG.L) is 3.34%, while L&G FTSE 100 Leveraged (Daily 2x) UCITS ETF GBP (Acc) (LUK2.L) has a volatility of 5.83%. This indicates that EMUG.L experiences smaller price fluctuations and is considered to be less risky than LUK2.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| EMUG.L | LUK2.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.34% | 5.83% | -2.49% |
Volatility (6M)Calculated over the trailing 6-month period | 5.34% | 19.66% | -14.32% |
Volatility (1Y)Calculated over the trailing 1-year period | 6.98% | 22.62% | -15.64% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 8.09% | 25.60% | -17.51% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 13.93% | 29.65% | -15.72% |
EMUG.L vs. LUK2.L - Expense Ratio Comparison
EMUG.L has a 0.35% expense ratio, which is lower than LUK2.L's 0.50% expense ratio.
Dividends
EMUG.L vs. LUK2.L - Dividend Comparison
EMUG.L's dividend yield for the trailing twelve months is around 0.03%, while LUK2.L has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|---|
EMUG.L L&G Emerging Markets Corporate Bond (USD) Screened UCITS ETF USD (Dist) | 0.03% | 5.99% | 4.86% | 4.67% | 3.61% | 1.14% |
LUK2.L L&G FTSE 100 Leveraged (Daily 2x) UCITS ETF GBP (Acc) | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
EMUG.L and LUK2.L have a correlation of -0.01, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, EMUG.L is cheaper at 0.35% per year. The better choice depends on whether you care most about return, fees, risk, or income.
EMUG.L is cheaper with a 0.35% expense ratio, compared with 0.50% for LUK2.L.
EMUG.L is categorized as Emerging Markets Bonds, while LUK2.L is Leveraged Equities. EMUG.L tracks J.P. Morgan ESG CEMBI Broad Diversified Custom Maturity Index, while LUK2.L tracks FTSE 100 Daily Leveraged Index. Their fees differ too: 0.35% for EMUG.L and 0.50% for LUK2.L.
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