ETLQ.DE vs. UETW.DE

Last updated Jul 18, 2026

ETLQ.DE (L&G Global Equity UCITS ETF) and UETW.DE (UBS ETF (IE) MSCI World UCITS ETF (USD) Acc) are both Global Equities funds - ETLQ.DE tracks the Solactive Core Developed Markets Large & Mid Cap while UETW.DE tracks the MSCI World. Both are passively managed. Over the past 5 years, ETLQ.DE returned 12.24%/yr vs 12.06%/yr for UETW.DE. With a 0.97 correlation, they move nearly in lockstep. Both charge a 0.10% expense ratio.

Performance

ETLQ.DE vs. UETW.DE - Performance Comparison

The chart below illustrates the hypothetical performance of a €10,000 investment in L&G Global Equity UCITS ETF (ETLQ.DE) and UBS ETF (IE) MSCI World UCITS ETF (USD) Acc (UETW.DE). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both investments are quite close, with ETLQ.DE having a 11.71% return and UETW.DE slightly higher at 11.82%.

ETLQ.DE

• 1D: -1.13%
• 1M: 0.51%
• 6M: 8.53%
• YTD: 11.71%
• 1Y: 21.96%
• 3Y*: 17.78%
• 5Y*: 12.24%
• 10Y*: —

UETW.DE

• 1D: -1.09%
• 1M: 0.52%
• 6M: 8.75%
• YTD: 11.82%
• 1Y: 21.95%
• 3Y*: 17.67%
• 5Y*: 12.06%
• 10Y*: —

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

ETLQ.DE vs. UETW.DE - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
ETLQ.DE L&G Global Equity UCITS ETF	11.71%	8.12%	26.14%	20.86%	-13.64%	32.62%	5.65%	14.69%
UETW.DE UBS ETF (IE) MSCI World UCITS ETF (USD) Acc	11.82%	8.05%	26.48%	19.71%	-13.72%	32.19%	5.49%	0.11%

Correlation

The correlation between ETLQ.DE and UETW.DE is 0.98 - 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	0.98
Correlation (3Y) Calculated over the trailing 3-year period	0.98
Correlation (5Y) Calculated over the trailing 5-year period	0.99
Correlation (All Time) Calculated using the full available price history since Jun 7, 2019	0.97

The correlation between ETLQ.DE and UETW.DE has been stable across timeframes, ranging from 0.97 to 0.99 - a consistent structural relationship.

Return for Risk

ETLQ.DE vs. UETW.DE — Risk / Return Rank

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

ETLQ.DE

ETLQ.DE Risk / Return Rank: 80
ETLQ.DE Sharpe Ratio Rank: 79
ETLQ.DE Sortino Ratio Rank: 78
ETLQ.DE Omega Ratio Rank: 78
ETLQ.DE Calmar Ratio Rank: 80
ETLQ.DE Martin Ratio Rank: 84

UETW.DE

UETW.DE Risk / Return Rank: 80
UETW.DE Sharpe Ratio Rank: 79
UETW.DE Sortino Ratio Rank: 78
UETW.DE Omega Ratio Rank: 79
UETW.DE Calmar Ratio Rank: 80
UETW.DE Martin Ratio Rank: 83

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.

ETLQ.DE vs. UETW.DE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for L&G Global Equity UCITS ETF (ETLQ.DE) and UBS ETF (IE) MSCI World UCITS ETF (USD) Acc (UETW.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.

	ETLQ.DE	UETW.DE	Difference
Sharpe ratio: Return per unit of total volatility	1.95	1.98	-0.04
Sortino ratio: Return per unit of downside risk	2.71	2.79	-0.08
Omega ratio: Gain probability vs. loss probability	1.36	1.37	-0.01
Calmar ratio: Return relative to maximum drawdown	3.22	3.28	-0.06
Martin ratio: Return relative to average drawdown	12.60	12.82	-0.22

ETLQ.DE vs. UETW.DE - Sharpe Ratio Comparison

The current ETLQ.DE Sharpe Ratio is 1.95, which is comparable to the UETW.DE Sharpe Ratio of 1.98. The chart below compares the historical Sharpe Ratios of ETLQ.DE and UETW.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

ETLQ.DE vs. UETW.DE - Drawdown Comparison

The maximum ETLQ.DE drawdown since its inception was -33.33%, roughly equal to the maximum UETW.DE drawdown of -33.74%. Use the drawdown chart below to compare losses from any high point for ETLQ.DE and UETW.DE.

Drawdown Indicators

	ETLQ.DE	UETW.DE	Difference
Max Drawdown Largest peak-to-trough decline	-33.33%	-33.74%	+0.41%
Max Drawdown (1Y) Largest decline over 1 year	-6.79%	-6.67%	-0.12%
Max Drawdown (3Y) Largest decline over 3 years	-21.61%	-21.32%	-0.29%
Max Drawdown (5Y) Largest decline over 5 years	-21.61%	-21.32%	-0.29%
Current Drawdown Current decline from peak	-1.25%	-1.17%	-0.08%
Average Drawdown Average peak-to-trough decline	-4.32%	-4.97%	+0.65%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.74%	1.71%	+0.03%

Volatility

ETLQ.DE vs. UETW.DE - Volatility Comparison

L&G Global Equity UCITS ETF (ETLQ.DE) and UBS ETF (IE) MSCI World UCITS ETF (USD) Acc (UETW.DE) have volatilities of 2.75% and 2.64%, 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

	ETLQ.DE	UETW.DE	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.75%	2.64%	+0.11%
Volatility (6M) Calculated over the trailing 6-month period	8.02%	7.83%	+0.19%
Volatility (1Y) Calculated over the trailing 1-year period	11.40%	11.17%	+0.23%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.11%	14.06%	+0.05%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.72%	16.55%	-0.83%

ETLQ.DE vs. UETW.DE - Expense Ratio Comparison

Both ETLQ.DE and UETW.DE have an expense ratio of 0.10%, making them cost-effective options compared to the broader market, where average expense ratios typically range from 0.3% to 0.9%.

Dividends

ETLQ.DE vs. UETW.DE - Dividend Comparison

Neither ETLQ.DE nor UETW.DE has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both ETLQ.DE and UETW.DE in my portfolio?

With a correlation of 0.98, ETLQ.DE and UETW.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, ETLQ.DE or UETW.DE?

Both ETFs have the same 0.10% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, ETLQ.DE or UETW.DE?

ETLQ.DE and UETW.DE have the same expense ratio: 0.10% per year.

What is the main difference between ETLQ.DE and UETW.DE?

ETLQ.DE tracks Solactive Core Developed Markets Large & Mid Cap, while UETW.DE tracks MSCI World. They also come from different issuers: Legal & General and UBS.