FGLS.L vs. FEUR.L

Last updated Jun 4, 2026

FGLS.L (Fidelity Sustainable Research Enhanced Global Equity UCITS ETF Acc) and FEUR.L (Fidelity Sustainable Research Enhanced Europe Equity UCITS ETF Acc) are both exchange-traded funds - FGLS.L is a Global Equities fund tracking the MSCI ACWI NR USD, while FEUR.L is a Europe Equities fund tracking the MSCI Europe NR EUR. Both are passively managed. Over the past 5 years, FGLS.L returned 11.85%/yr vs 8.27%/yr for FEUR.L. A 0.73 correlation means they provide meaningful diversification when combined. FGLS.L charges 0.35%/yr vs 0.30%/yr for FEUR.L.

Performance

FGLS.L vs. FEUR.L - Performance Comparison

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

Returns By Period

In the year-to-date period, FGLS.L achieves a 8.94% return, which is significantly higher than FEUR.L's 4.32% return.

FGLS.L

• 1D: -0.29%
• 1M: 4.50%
• YTD: 8.94%
• 6M: 9.24%
• 1Y: 24.94%
• 3Y*: 15.95%
• 5Y*: 11.85%
• 10Y*: —

FEUR.L

• 1D: -0.90%
• 1M: 1.70%
• YTD: 4.32%
• 6M: 6.70%
• 1Y: 14.11%
• 3Y*: 10.90%
• 5Y*: 8.27%
• 10Y*: —

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

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

	2026 (YTD)	2025	2024	2023	2022	2021	2020
FGLS.L Fidelity Sustainable Research Enhanced Global Equity UCITS ETF Acc	8.94%	10.06%	19.92%	17.58%	-9.61%	23.93%	12.54%
FEUR.L Fidelity Sustainable Research Enhanced Europe Equity UCITS ETF Acc	4.32%	22.87%	2.49%	11.56%	-4.77%	17.59%	9.82%

Correlation

The correlation between FGLS.L and FEUR.L is 0.63, 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	0.63
Correlation (3Y) Calculated over the trailing 3-year period	0.64
Correlation (5Y) Calculated over the trailing 5-year period	0.70
Correlation (All Time) Calculated using the full available price history since Jun 4, 2020	0.73

The correlation between FGLS.L and FEUR.L shifts across timeframes, from 0.63 (1 year) to 0.73 (all time), reflecting how their relationship changes across market environments.

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

Sectors	FGLS.L	FEUR.L
Technology	31.2%	9.4%
Financial Services	16.7%	24.5%
Communication Services	10.8%	4.7%
Industrials	9.6%	19.7%
Consumer Cyclical	9.2%	7.3%
Healthcare	9.0%	13.3%
Consumer Defensive	4.5%	8.3%
Energy	2.9%	4.1%
Basic Materials	2.8%	4.9%
Real Estate	1.7%	0.7%
Utilities	1.7%	3.2%

Return for Risk

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

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

FGLS.L

FGLS.L Risk / Return Rank: 73
FGLS.L Sharpe Ratio Rank: 73
FGLS.L Sortino Ratio Rank: 74
FGLS.L Omega Ratio Rank: 75
FGLS.L Calmar Ratio Rank: 69
FGLS.L Martin Ratio Rank: 73

FEUR.L

FEUR.L Risk / Return Rank: 28
FEUR.L Sharpe Ratio Rank: 27
FEUR.L Sortino Ratio Rank: 27
FEUR.L Omega Ratio Rank: 27
FEUR.L Calmar Ratio Rank: 27
FEUR.L Martin Ratio Rank: 31

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.

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

This table presents a comparison of risk-adjusted performance metrics for Fidelity Sustainable Research Enhanced Global Equity UCITS ETF Acc (FGLS.L) and Fidelity Sustainable Research Enhanced Europe Equity UCITS ETF Acc (FEUR.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.

	FGLS.L	FEUR.L	Difference
Sharpe ratio Return per unit of total volatility	2.37	0.97	+1.41
Sortino ratio Return per unit of downside risk	3.31	1.42	+1.89
Omega ratio Gain probability vs. loss probability	1.45	1.18	+0.27
Calmar ratio Return relative to maximum drawdown	3.37	1.28	+2.10
Martin ratio Return relative to average drawdown	13.71	4.36	+9.35
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

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

The current FGLS.L Sharpe Ratio is 2.37, which is higher than the FEUR.L Sharpe Ratio of 0.97. The chart below compares the historical Sharpe Ratios of FGLS.L and FEUR.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

	FGLS.L	FEUR.L	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.37	0.97	+1.41
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.89	0.57	+0.31
Sharpe Ratio (All Time) Calculated using the full available price history	0.99	0.71	+0.28

Drawdowns

FGLS.L vs. FEUR.L - Drawdown Comparison

The maximum FGLS.L drawdown since its inception was -19.90%, which is greater than FEUR.L's maximum drawdown of -16.72%. Use the drawdown chart below to compare losses from any high point for FGLS.L and FEUR.L.

Drawdown Indicators

	FGLS.L	FEUR.L	Difference
Max Drawdown Largest peak-to-trough decline	-19.90%	-16.72%	-3.18%
Max Drawdown (1Y) Largest decline over 1 year	-7.36%	-11.02%	+3.66%
Max Drawdown (3Y) Largest decline over 3 years	-19.90%	-12.97%	-6.93%
Max Drawdown (5Y) Largest decline over 5 years	-19.90%	-16.72%	-3.18%
Current Drawdown Current decline from peak	-0.29%	-3.43%	+3.14%
Average Drawdown Average peak-to-trough decline	-3.15%	-3.48%	+0.33%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.81%	3.23%	-1.42%

Volatility

FGLS.L vs. FEUR.L - Volatility Comparison

The current volatility for Fidelity Sustainable Research Enhanced Global Equity UCITS ETF Acc (FGLS.L) is 2.61%, while Fidelity Sustainable Research Enhanced Europe Equity UCITS ETF Acc (FEUR.L) has a volatility of 4.97%. This indicates that FGLS.L experiences smaller price fluctuations and is considered to be less risky than FEUR.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FGLS.L	FEUR.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.61%	4.97%	-2.36%
Volatility (6M) Calculated over the trailing 6-month period	7.59%	12.12%	-4.53%
Volatility (1Y) Calculated over the trailing 1-year period	10.50%	14.55%	-4.05%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	13.40%	14.48%	-1.08%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	13.75%	14.74%	-0.99%

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

FGLS.L has a 0.35% expense ratio, which is higher than FEUR.L's 0.30% expense ratio.

Dividends

FGLS.L vs. FEUR.L - Dividend Comparison

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

Tickers have no history of dividend payments

Frequently Asked Questions

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

FGLS.L and FEUR.L have a correlation of 0.63, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

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

FEUR.L is cheaper with a 0.30% expense ratio, compared with 0.35% for FGLS.L.

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

FGLS.L is categorized as Global Equities, while FEUR.L is Europe Equities. FGLS.L tracks MSCI ACWI NR USD, while FEUR.L tracks MSCI Europe NR EUR. Their fees differ too: 0.35% for FGLS.L and 0.30% for FEUR.L.