FPXE.L vs. LGUK.L
FPXE.L (First Trust IPOX Europe Equity Opportunities UCITS ETF) and LGUK.L (L&G UK Equity UCITS ETF) are both Europe Equities funds - FPXE.L tracks the First Trust IPOX Europe Equity Opportunities UCITS ETF while LGUK.L tracks the FTSE AllSh TR GBP. Both are passively managed. Over the past 5 years, FPXE.L returned 3.93%/yr vs 12.32%/yr for LGUK.L. A 0.54 correlation means they provide meaningful diversification when combined.
Performance
FPXE.L vs. LGUK.L - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, FPXE.L achieves a 7.25% return, which is significantly lower than LGUK.L's 7.75% return.
FPXE.L
- 1D
- -1.63%
- 1M
- -7.21%
- 6M
- 5.78%
- YTD
- 7.25%
- 1Y
- 7.04%
- 3Y*
- 15.00%
- 5Y*
- 3.93%
- 10Y*
- —
LGUK.L
- 1D
- 0.06%
- 1M
- 1.43%
- 6M
- 5.40%
- YTD
- 7.75%
- 1Y
- 20.57%
- 3Y*
- 16.22%
- 5Y*
- 12.32%
- 10Y*
- —
FPXE.L vs. LGUK.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
FPXE.L First Trust IPOX Europe Equity Opportunities UCITS ETF | 7.25% | 14.93% | 17.51% | 8.62% | -27.20% | -6.75% |
LGUK.L L&G UK Equity UCITS ETF | 7.75% | 24.95% | 10.56% | 6.64% | 5.62% | 5.99% |
Correlation
The correlation between FPXE.L and LGUK.L is 0.43, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.43 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.50 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.54 |
Correlation (All Time) Calculated using the full available price history since Jun 22, 2021 | 0.54 |
The correlation between FPXE.L and LGUK.L shifts across timeframes, from 0.43 (1 year) to 0.54 (5 years), reflecting how their relationship changes across market environments.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
FPXE.L vs. LGUK.L — Risk / Return Rank
FPXE.L
LGUK.L
FPXE.L vs. LGUK.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for First Trust IPOX Europe Equity Opportunities UCITS ETF (FPXE.L) and L&G UK Equity UCITS ETF (LGUK.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.
| FPXE.L | LGUK.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.98 | ||
| Sortino ratioReturn per unit of downside risk | -1.31 | ||
| Omega ratioGain probability vs. loss probability | 1.08 | 1.27 | -0.18 |
| Calmar ratioReturn relative to maximum drawdown | 0.73 | 2.20 | -1.47 |
| Martin ratioReturn relative to average drawdown | 2.17 | 7.04 | -4.87 |
Loading charts...
Drawdowns
FPXE.L vs. LGUK.L - Drawdown Comparison
The maximum FPXE.L drawdown since its inception was -38.82%, which is greater than LGUK.L's maximum drawdown of -33.76%. Use the drawdown chart below to compare losses from any high point for FPXE.L and LGUK.L.
Loading charts...
Drawdown Indicators
| FPXE.L | LGUK.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -38.82% | -33.76% | -5.06% |
Max Drawdown (1Y)Largest decline over 1 year | -9.55% | -9.30% | -0.25% |
Max Drawdown (3Y)Largest decline over 3 years | -21.19% | -12.30% | -8.89% |
Max Drawdown (5Y)Largest decline over 5 years | -37.41% | -12.30% | -25.11% |
Current DrawdownCurrent decline from peak | -9.22% | -2.05% | -7.17% |
Average DrawdownAverage peak-to-trough decline | -17.11% | -4.78% | -12.33% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.24% | 2.92% | +0.32% |
Volatility
FPXE.L vs. LGUK.L - Volatility Comparison
First Trust IPOX Europe Equity Opportunities UCITS ETF (FPXE.L) has a higher volatility of 6.06% compared to L&G UK Equity UCITS ETF (LGUK.L) at 3.56%. This indicates that FPXE.L's price experiences larger fluctuations and is considered to be riskier than LGUK.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| FPXE.L | LGUK.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.06% | 3.56% | +2.50% |
Volatility (6M)Calculated over the trailing 6-month period | 15.30% | 11.86% | +3.44% |
Volatility (1Y)Calculated over the trailing 1-year period | 17.47% | 14.81% | +2.66% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 18.50% | 13.88% | +4.62% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 19.29% | 16.25% | +3.04% |
Dividends
FPXE.L vs. LGUK.L - Dividend Comparison
Neither FPXE.L nor LGUK.L has paid dividends to shareholders.
Frequently Asked Questions
FPXE.L and LGUK.L have a correlation of 0.43, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
FPXE.L tracks First Trust IPOX Europe Equity Opportunities UCITS ETF, while LGUK.L tracks FTSE AllSh TR GBP. They also come from different issuers: First Trust and Legal & General.
Find the right allocation for FPXE.L and LGUK.L
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer