FTAL.L vs. LCUK.L

Last updated Jun 5, 2026

FTAL.L (SPDR FTSE UK All Share UCITS ETF) and LCUK.L (Lyxor Core UK Equity All Cap (DR) UCITS ETF - Dist) are both Europe Equities funds tracking the FTSE AllSh TR GBP, from State Street and Amundi respectively. Both are passively managed. Over the past 5 years, FTAL.L returned 10.22%/yr vs 10.01%/yr for LCUK.L. With a 0.96 correlation, they move nearly in lockstep. FTAL.L charges 0.20%/yr vs 0.04%/yr for LCUK.L.

Performance

FTAL.L vs. LCUK.L - Performance Comparison

The chart below illustrates the hypothetical performance of a £10,000 investment in SPDR FTSE UK All Share UCITS ETF (FTAL.L) and Lyxor Core UK Equity All Cap (DR) UCITS ETF - Dist (LCUK.L). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

As of year-to-date, both investments have demonstrated similar returns, with FTAL.L at 5.93% and LCUK.L at 5.93%.

FTAL.L

• 1D: 0.30%
• 1M: 2.15%
• YTD: 5.93%
• 6M: 8.27%
• 1Y: 20.36%
• 3Y*: 14.06%
• 5Y*: 10.22%
• 10Y*: 8.54%

LCUK.L

• 1D: 0.54%
• 1M: 1.88%
• YTD: 5.93%
• 6M: 5.05%
• 1Y: 16.53%
• 3Y*: 13.40%
• 5Y*: 10.01%
• 10Y*: —

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

FTAL.L vs. LCUK.L - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
FTAL.L SPDR FTSE UK All Share UCITS ETF	5.93%	23.19%	9.03%	7.92%	0.55%	17.18%	-9.96%	19.29%	-1.47%
LCUK.L Lyxor Core UK Equity All Cap (DR) UCITS ETF - Dist	5.93%	21.01%	9.05%	7.25%	2.15%	18.06%	-11.83%	18.73%	-0.85%

Correlation

The correlation between FTAL.L and LCUK.L is 0.92, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.92
Correlation (3Y) Calculated over the trailing 3-year period	0.95
Correlation (5Y) Calculated over the trailing 5-year period	0.95
Correlation (All Time) Calculated using the full available price history since Mar 23, 2018	0.96

The correlation between FTAL.L and LCUK.L has been stable across timeframes, ranging from 0.92 to 0.96 - a consistent structural relationship.

FTAL.L vs. LCUK.L - Sectors Allocation Comparison

Sectors	FTAL.L	LCUK.L
Financial Services	24.2%	24.2%
Industrials	14.5%	13.9%
Healthcare	12.8%	13.2%
Consumer Defensive	12.1%	13.7%
Energy	10.9%	11.1%
Basic Materials	8.4%	8.3%
Consumer Cyclical	5.6%	5.2%
Utilities	5.1%	5.1%
Communication Services	3.0%	3.0%
Real Estate	1.7%	1.4%
Technology	1.7%	0.9%

Return for Risk

FTAL.L vs. LCUK.L — Risk / Return Rank

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

FTAL.L

FTAL.L Risk / Return Rank: 53
FTAL.L Sharpe Ratio Rank: 56
FTAL.L Sortino Ratio Rank: 57
FTAL.L Omega Ratio Rank: 59
FTAL.L Calmar Ratio Rank: 47
FTAL.L Martin Ratio Rank: 47

LCUK.L

LCUK.L Risk / Return Rank: 38
LCUK.L Sharpe Ratio Rank: 40
LCUK.L Sortino Ratio Rank: 38
LCUK.L Omega Ratio Rank: 40
LCUK.L Calmar Ratio Rank: 37
LCUK.L Martin Ratio Rank: 38

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.

FTAL.L vs. LCUK.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for SPDR FTSE UK All Share UCITS ETF (FTAL.L) and Lyxor Core UK Equity All Cap (DR) UCITS ETF - Dist (LCUK.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.

	FTAL.L	LCUK.L	Difference
Sharpe ratio: Return per unit of total volatility	1.87	1.38	+0.49
Sortino ratio: Return per unit of downside risk	2.66	1.92	+0.74
Omega ratio: Gain probability vs. loss probability	1.35	1.25	+0.10
Calmar ratio: Return relative to maximum drawdown	2.26	1.80	+0.46
Martin ratio: Return relative to average drawdown	7.66	5.79	+1.87
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

FTAL.L vs. LCUK.L - Sharpe Ratio Comparison

The current FTAL.L Sharpe Ratio is 1.87, which is higher than the LCUK.L Sharpe Ratio of 1.38. The chart below compares the historical Sharpe Ratios of FTAL.L and LCUK.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

	FTAL.L	LCUK.L	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.87	1.38	+0.49
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.81	0.77	+0.03
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.58	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.56	0.51	+0.06

Drawdowns

FTAL.L vs. LCUK.L - Drawdown Comparison

The maximum FTAL.L drawdown since its inception was -35.26%, roughly equal to the maximum LCUK.L drawdown of -35.54%. Use the drawdown chart below to compare losses from any high point for FTAL.L and LCUK.L.

Drawdown Indicators

	FTAL.L	LCUK.L	Difference
Max Drawdown Largest peak-to-trough decline	-35.26%	-35.54%	+0.28%
Max Drawdown (1Y) Largest decline over 1 year	-8.95%	-9.13%	+0.18%
Max Drawdown (3Y) Largest decline over 3 years	-13.17%	-12.65%	-0.52%
Max Drawdown (5Y) Largest decline over 5 years	-13.17%	-12.65%	-0.52%
Max Drawdown (10Y) Largest decline over 10 years	-35.26%	—	—
Current Drawdown Current decline from peak	-3.78%	-3.98%	+0.20%
Average Drawdown Average peak-to-trough decline	-4.31%	-4.97%	+0.66%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.65%	2.85%	-0.20%

Volatility

FTAL.L vs. LCUK.L - Volatility Comparison

SPDR FTSE UK All Share UCITS ETF (FTAL.L) has a higher volatility of 4.08% compared to Lyxor Core UK Equity All Cap (DR) UCITS ETF - Dist (LCUK.L) at 3.76%. This indicates that FTAL.L's price experiences larger fluctuations and is considered to be riskier than LCUK.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FTAL.L	LCUK.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.08%	3.76%	+0.32%
Volatility (6M) Calculated over the trailing 6-month period	9.45%	10.20%	-0.75%
Volatility (1Y) Calculated over the trailing 1-year period	10.84%	11.92%	-1.08%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	12.68%	12.97%	-0.29%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	14.75%	15.69%	-0.94%

FTAL.L vs. LCUK.L - Expense Ratio Comparison

FTAL.L has a 0.20% expense ratio, which is higher than LCUK.L's 0.04% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

FTAL.L vs. LCUK.L - Dividend Comparison

Neither FTAL.L nor LCUK.L has paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019
FTAL.L SPDR FTSE UK All Share UCITS ETF	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
LCUK.L Lyxor Core UK Equity All Cap (DR) UCITS ETF - Dist	0.00%	0.00%	3.68%	3.05%	3.94%	3.86%	3.00%	3.48%

Frequently Asked Questions

Can I hold both FTAL.L and LCUK.L in my portfolio?

With a correlation of 0.92, FTAL.L and LCUK.L 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, FTAL.L or LCUK.L?

On fees, LCUK.L is cheaper at 0.04% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, FTAL.L or LCUK.L?

LCUK.L is cheaper with a 0.04% expense ratio, compared with 0.20% for FTAL.L.

What is the main difference between FTAL.L and LCUK.L?

Both ETFs track FTSE AllSh TR GBP. They also come from different issuers: State Street and Amundi. Their fees differ too: 0.20% for FTAL.L and 0.04% for LCUK.L.