FWRA.L vs. LGUS.L
FWRA.L (Invesco FTSE All-World UCITS ETF USD Accumulation) and LGUS.L (L&G US Equity UCITS ETF) are both Global Equities funds - FWRA.L tracks the FTSE All-World Index while LGUS.L tracks the L&G US Equity UCITS ETF. Both are passively managed. Over the past 3 years, FWRA.L returned 19.09%/yr vs 20.40%/yr for LGUS.L. Their correlation of 0.90 suggests significant overlap in exposure. FWRA.L charges 0.15%/yr vs 0.05%/yr for LGUS.L.
Performance
FWRA.L vs. LGUS.L - Performance Comparison
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Returns By Period
In the year-to-date period, FWRA.L achieves a 11.06% return, which is significantly higher than LGUS.L's 10.34% return.
FWRA.L
- 1D
- 0.11%
- 1M
- -0.64%
- 6M
- 9.50%
- YTD
- 11.06%
- 1Y
- 23.54%
- 3Y*
- 19.09%
- 5Y*
- —
- 10Y*
- —
LGUS.L
- 1D
- 0.00%
- 1M
- 0.20%
- 6M
- 9.90%
- YTD
- 10.34%
- 1Y
- 21.64%
- 3Y*
- 20.40%
- 5Y*
- 12.82%
- 10Y*
- —
FWRA.L vs. LGUS.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
FWRA.L Invesco FTSE All-World UCITS ETF USD Accumulation | 11.06% | 22.42% | 18.04% | 10.02% |
LGUS.L L&G US Equity UCITS ETF | 10.34% | 17.98% | 25.09% | 11.57% |
Correlation
The correlation between FWRA.L and LGUS.L is 0.91, 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 | 0.91 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.90 |
Correlation (All Time) Calculated using the full available price history since Jun 26, 2023 | 0.90 |
The correlation between FWRA.L and LGUS.L has been stable across timeframes, ranging from 0.90 to 0.91 - a consistent structural relationship.
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Return for Risk
FWRA.L vs. LGUS.L — Risk / Return Rank
FWRA.L
LGUS.L
FWRA.L vs. LGUS.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco FTSE All-World UCITS ETF USD Accumulation (FWRA.L) and L&G US Equity UCITS ETF (LGUS.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.
| FWRA.L | LGUS.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.04 | ||
| Sortino ratioReturn per unit of downside risk | +0.06 | ||
| Omega ratioGain probability vs. loss probability | 1.34 | 1.32 | +0.02 |
| Calmar ratioReturn relative to maximum drawdown | 2.68 | 2.59 | +0.09 |
| Martin ratioReturn relative to average drawdown | 10.70 | 9.99 | +0.71 |
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Drawdowns
FWRA.L vs. LGUS.L - Drawdown Comparison
The maximum FWRA.L drawdown since its inception was -16.50%, smaller than the maximum LGUS.L drawdown of -34.26%. Use the drawdown chart below to compare losses from any high point for FWRA.L and LGUS.L.
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Drawdown Indicators
| FWRA.L | LGUS.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -16.50% | -34.26% | +17.76% |
Max Drawdown (1Y)Largest decline over 1 year | -8.78% | -8.58% | -0.20% |
Max Drawdown (3Y)Largest decline over 3 years | -16.50% | -19.46% | +2.96% |
Max Drawdown (5Y)Largest decline over 5 years | — | -25.64% | — |
Current DrawdownCurrent decline from peak | -1.16% | -0.49% | -0.67% |
Average DrawdownAverage peak-to-trough decline | -1.92% | -5.30% | +3.38% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.20% | 2.23% | -0.03% |
Volatility
FWRA.L vs. LGUS.L - Volatility Comparison
Invesco FTSE All-World UCITS ETF USD Accumulation (FWRA.L) has a higher volatility of 3.20% compared to L&G US Equity UCITS ETF (LGUS.L) at 2.86%. This indicates that FWRA.L's price experiences larger fluctuations and is considered to be riskier than LGUS.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FWRA.L | LGUS.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.20% | 2.86% | +0.34% |
Volatility (6M)Calculated over the trailing 6-month period | 10.60% | 9.41% | +1.19% |
Volatility (1Y)Calculated over the trailing 1-year period | 12.88% | 12.47% | +0.41% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 13.61% | 16.51% | -2.90% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 13.61% | 18.10% | -4.49% |
FWRA.L vs. LGUS.L - Expense Ratio Comparison
FWRA.L has a 0.15% expense ratio, which is higher than LGUS.L's 0.05% 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
FWRA.L vs. LGUS.L - Dividend Comparison
Neither FWRA.L nor LGUS.L has paid dividends to shareholders.
Frequently Asked Questions
With a correlation of 0.91, FWRA.L and LGUS.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.
On fees, LGUS.L is cheaper at 0.05% per year. The better choice depends on whether you care most about return, fees, risk, or income.
LGUS.L is cheaper with a 0.05% expense ratio, compared with 0.15% for FWRA.L.
FWRA.L tracks FTSE All-World Index, while LGUS.L tracks L&G US Equity UCITS ETF. They also come from different issuers: Invesco and L&G. Their fees differ too: 0.15% for FWRA.L and 0.05% for LGUS.L.
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