FEUR.L vs. LCPE.L

Last updated Jun 5, 2026

FEUR.L (Fidelity Sustainable Research Enhanced Europe Equity UCITS ETF Acc) and LCPE.L (Ossiam Shiller Barclays Cape Europe Sector Value TR UCITS) are both Europe Equities funds tracking the MSCI Europe NR EUR, from Fidelity and Natixis respectively. Both are passively managed. Over the past 5 years, FEUR.L returned 8.56%/yr vs 9.64%/yr for LCPE.L. At a 0.39 correlation, their price movements are largely independent. FEUR.L charges 0.30%/yr vs 0.65%/yr for LCPE.L.

Performance

FEUR.L vs. LCPE.L - Performance Comparison

The chart below illustrates the hypothetical performance of a £10,000 investment in Fidelity Sustainable Research Enhanced Europe Equity UCITS ETF Acc (FEUR.L) and Ossiam Shiller Barclays Cape Europe Sector Value TR UCITS (LCPE.L). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

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

Returns By Period

In the year-to-date period, FEUR.L achieves a 5.75% return, which is significantly lower than LCPE.L's 14.20% return.

FEUR.L

• 1D: 1.38%
• 1M: 3.93%
• YTD: 5.75%
• 6M: 7.62%
• 1Y: 15.05%
• 3Y*: 11.51%
• 5Y*: 8.56%
• 10Y*: —

LCPE.L

• 1D: 0.39%
• 1M: 3.01%
• YTD: 14.20%
• 6M: 14.45%
• 1Y: 27.63%
• 3Y*: 11.83%
• 5Y*: 9.64%
• 10Y*: 10.16%

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

FEUR.L vs. LCPE.L - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
FEUR.L Fidelity Sustainable Research Enhanced Europe Equity UCITS ETF Acc	5.75%	22.87%	2.49%	11.56%	-4.77%	17.59%	9.82%
LCPE.L Ossiam Shiller Barclays Cape Europe Sector Value TR UCITS	14.20%	18.88%	-2.83%	10.70%	0.29%	16.28%	15.42%

Correlation

The correlation between FEUR.L and LCPE.L is 0.54, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.54
Correlation (3Y) Calculated over the trailing 3-year period	0.51
Correlation (5Y) Calculated over the trailing 5-year period	0.42
Correlation (All Time) Calculated using the full available price history since Jun 4, 2020	0.39

The correlation between FEUR.L and LCPE.L shifts across timeframes, from 0.39 (all time) to 0.54 (1 year), reflecting how their relationship changes across market environments.

FEUR.L vs. LCPE.L - Sectors Allocation Comparison

Sectors	FEUR.L	LCPE.L
Financial Services	24.5%	-
Industrials	19.7%	0.2%
Healthcare	13.3%	32.6%
Technology	9.4%	0.2%
Consumer Defensive	8.3%	32.8%
Consumer Cyclical	7.3%	1.9%
Basic Materials	4.9%	32.3%
Communication Services	4.7%	0.0%
Energy	4.1%	0.0%
Utilities	3.2%	-
Real Estate	0.7%	0.0%

Return for Risk

FEUR.L vs. LCPE.L — Risk / Return Rank

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

FEUR.L

FEUR.L Risk / Return Rank: 29
FEUR.L Sharpe Ratio Rank: 29
FEUR.L Sortino Ratio Rank: 28
FEUR.L Omega Ratio Rank: 28
FEUR.L Calmar Ratio Rank: 29
FEUR.L Martin Ratio Rank: 32

LCPE.L

LCPE.L Risk / Return Rank: 77
LCPE.L Sharpe Ratio Rank: 77
LCPE.L Sortino Ratio Rank: 79
LCPE.L Omega Ratio Rank: 74
LCPE.L Calmar Ratio Rank: 81
LCPE.L Martin Ratio Rank: 73

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.

FEUR.L vs. LCPE.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Sustainable Research Enhanced Europe Equity UCITS ETF Acc (FEUR.L) and Ossiam Shiller Barclays Cape Europe Sector Value TR UCITS (LCPE.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.

	FEUR.L	LCPE.L	Difference
Sharpe ratio: Return per unit of total volatility	1.03	2.44	-1.42
Sortino ratio: Return per unit of downside risk	1.51	3.49	-1.98
Omega ratio: Gain probability vs. loss probability	1.19	1.43	-0.24
Calmar ratio: Return relative to maximum drawdown	1.36	4.13	-2.77
Martin ratio: Return relative to average drawdown	4.64	13.66	-9.02
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

FEUR.L vs. LCPE.L - Sharpe Ratio Comparison

The current FEUR.L Sharpe Ratio is 1.03, which is lower than the LCPE.L Sharpe Ratio of 2.44. The chart below compares the historical Sharpe Ratios of FEUR.L and LCPE.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.

Sharpe Ratios by Period

	FEUR.L	LCPE.L	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.03	2.44	-1.42
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.59	1.04	-0.44
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	1.20	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.72	0.98	-0.26

Drawdowns

FEUR.L vs. LCPE.L - Drawdown Comparison

The maximum FEUR.L drawdown since its inception was -16.72%, smaller than the maximum LCPE.L drawdown of -27.05%. Use the drawdown chart below to compare losses from any high point for FEUR.L and LCPE.L.

Drawdown Indicators

	FEUR.L	LCPE.L	Difference
Max Drawdown Largest peak-to-trough decline	-16.72%	-27.05%	+10.33%
Max Drawdown (1Y) Largest decline over 1 year	-11.02%	-6.66%	-4.36%
Max Drawdown (3Y) Largest decline over 3 years	-12.97%	-12.39%	-0.58%
Max Drawdown (5Y) Largest decline over 5 years	-16.72%	-12.39%	-4.33%
Max Drawdown (10Y) Largest decline over 10 years	—	-27.05%	—
Current Drawdown Current decline from peak	-2.10%	-2.71%	+0.61%
Average Drawdown Average peak-to-trough decline	-3.48%	-3.52%	+0.04%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.23%	2.02%	+1.21%

Volatility

FEUR.L vs. LCPE.L - Volatility Comparison

Fidelity Sustainable Research Enhanced Europe Equity UCITS ETF Acc (FEUR.L) has a higher volatility of 5.04% compared to Ossiam Shiller Barclays Cape Europe Sector Value TR UCITS (LCPE.L) at 3.81%. This indicates that FEUR.L's price experiences larger fluctuations and is considered to be riskier than LCPE.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FEUR.L	LCPE.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.04%	3.81%	+1.23%
Volatility (6M) Calculated over the trailing 6-month period	12.19%	8.48%	+3.71%
Volatility (1Y) Calculated over the trailing 1-year period	14.61%	11.29%	+3.32%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.49%	17.74%	-3.25%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	14.74%	20.60%	-5.86%

FEUR.L vs. LCPE.L - Expense Ratio Comparison

FEUR.L has a 0.30% expense ratio, which is lower than LCPE.L's 0.65% expense ratio.

Dividends

FEUR.L vs. LCPE.L - Dividend Comparison

Neither FEUR.L nor LCPE.L has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both FEUR.L and LCPE.L in my portfolio?

FEUR.L and LCPE.L have a correlation of 0.54, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, FEUR.L or LCPE.L?

On fees, FEUR.L is cheaper at 0.30% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, FEUR.L or LCPE.L?

FEUR.L is cheaper with a 0.30% expense ratio, compared with 0.65% for LCPE.L.

What is the main difference between FEUR.L and LCPE.L?

Both ETFs track MSCI Europe NR EUR. They also come from different issuers: Fidelity and Natixis. Their fees differ too: 0.30% for FEUR.L and 0.65% for LCPE.L.