GBDV.L vs. LGGG.L

Last updated Jun 26, 2026

GBDV.L (SPDR S&P Global Dividend Aristocrats UCITS) and LGGG.L (L&G Global Equity UCITS ETF) are both Global Equities funds - GBDV.L tracks the S&P Global Dividend Aristocrats index while LGGG.L tracks the MSCI ACWI NR USD. Both are passively managed. Over the past 5 years, GBDV.L returned 7.25%/yr vs 12.50%/yr for LGGG.L. A 0.67 correlation means they provide meaningful diversification when combined. GBDV.L charges 0.45%/yr vs 0.10%/yr for LGGG.L.

Performance

GBDV.L vs. LGGG.L - Performance Comparison

The chart below illustrates the hypothetical performance of a £10,000 investment in SPDR S&P Global Dividend Aristocrats UCITS (GBDV.L) and L&G Global Equity UCITS ETF (LGGG.L). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

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

Returns By Period

The year-to-date returns for both investments are quite close, with GBDV.L having a 9.62% return and LGGG.L slightly higher at 9.76%.

GBDV.L

• 1D: 0.20%
• 1M: 1.93%
• YTD: 9.62%
• 6M: 9.74%
• 1Y: 20.65%
• 3Y*: 13.77%
• 5Y*: 7.25%
• 10Y*: 7.24%

LGGG.L

• 1D: -0.56%
• 1M: 0.40%
• YTD: 9.76%
• 6M: 9.88%
• 1Y: 26.00%
• 3Y*: 18.26%
• 5Y*: 12.50%
• 10Y*: —

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

GBDV.L vs. LGGG.L - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
GBDV.L SPDR S&P Global Dividend Aristocrats UCITS	9.62%	9.25%	8.98%	1.23%	4.57%	16.69%	-12.13%	15.83%	-1.85%
LGGG.L L&G Global Equity UCITS ETF	9.76%	12.92%	21.13%	18.08%	-8.24%	23.53%	12.41%	22.99%	-27.80%

Correlation

The correlation between GBDV.L and LGGG.L is 0.37, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.37
Correlation (3Y) Calculated over the trailing 3-year period	0.47
Correlation (5Y) Calculated over the trailing 5-year period	0.59
Correlation (All Time) Calculated using the full available price history since Nov 9, 2018	0.67

Over the past year, the correlation between GBDV.L and LGGG.L has dropped to 0.37 - well below their long-term average of 0.67, suggesting their price drivers have been diverging.

GBDV.L vs. LGGG.L - Sectors Allocation Comparison

Sectors	GBDV.L	LGGG.L
Financial Services	23.0%	15.2%
Utilities	16.9%	2.3%
Industrials	12.0%	10.5%
Real Estate	11.4%	1.7%
Communication Services	10.3%	9.2%
Consumer Defensive	8.4%	4.9%
Energy	7.8%	3.6%
Healthcare	3.8%	8.6%
Technology	2.9%	31.5%
Basic Materials	2.3%	3.2%
Consumer Cyclical	1.3%	9.4%

Return for Risk

GBDV.L vs. LGGG.L — Risk / Return Rank

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

GBDV.L

GBDV.L Risk / Return Rank: 79
GBDV.L Sharpe Ratio Rank: 85
GBDV.L Sortino Ratio Rank: 84
GBDV.L Omega Ratio Rank: 83
GBDV.L Calmar Ratio Rank: 76
GBDV.L Martin Ratio Rank: 66

LGGG.L

LGGG.L Risk / Return Rank: 86
LGGG.L Sharpe Ratio Rank: 87
LGGG.L Sortino Ratio Rank: 88
LGGG.L Omega Ratio Rank: 88
LGGG.L Calmar Ratio Rank: 83
LGGG.L Martin Ratio Rank: 85

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.

GBDV.L vs. LGGG.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for SPDR S&P Global Dividend Aristocrats UCITS (GBDV.L) and L&G Global Equity UCITS ETF (LGGG.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.

	GBDV.L	LGGG.L	Difference
Sharpe ratio: Return per unit of total volatility	2.37	2.47	-0.10
Sortino ratio: Return per unit of downside risk	3.29	3.44	-0.15
Omega ratio: Gain probability vs. loss probability	1.43	1.47	-0.03
Calmar ratio: Return relative to maximum drawdown	3.39	3.88	-0.48
Martin ratio: Return relative to average drawdown	10.53	15.16	-4.63

GBDV.L vs. LGGG.L - Sharpe Ratio Comparison

The current GBDV.L Sharpe Ratio is 2.37, which is comparable to the LGGG.L Sharpe Ratio of 2.47. The chart below compares the historical Sharpe Ratios of GBDV.L and LGGG.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.

Drawdowns

GBDV.L vs. LGGG.L - Drawdown Comparison

The maximum GBDV.L drawdown since its inception was -40.46%, which is greater than LGGG.L's maximum drawdown of -30.19%. Use the drawdown chart below to compare losses from any high point for GBDV.L and LGGG.L.

Drawdown Indicators

	GBDV.L	LGGG.L	Difference
Max Drawdown Largest peak-to-trough decline	-40.46%	-30.19%	-10.27%
Max Drawdown (1Y) Largest decline over 1 year	-6.06%	-6.67%	+0.61%
Max Drawdown (3Y) Largest decline over 3 years	-13.57%	-19.95%	+6.38%
Max Drawdown (5Y) Largest decline over 5 years	-16.18%	-19.95%	+3.77%
Max Drawdown (10Y) Largest decline over 10 years	-34.77%	—	—
Current Drawdown Current decline from peak	0.00%	-1.27%	+1.27%
Average Drawdown Average peak-to-trough decline	-11.60%	-7.18%	-4.42%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.96%	1.71%	+0.25%

Volatility

GBDV.L vs. LGGG.L - Volatility Comparison

The current volatility for SPDR S&P Global Dividend Aristocrats UCITS (GBDV.L) is 1.97%, while L&G Global Equity UCITS ETF (LGGG.L) has a volatility of 3.20%. This indicates that GBDV.L experiences smaller price fluctuations and is considered to be less risky than LGGG.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	GBDV.L	LGGG.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.97%	3.20%	-1.23%
Volatility (6M) Calculated over the trailing 6-month period	6.45%	7.79%	-1.34%
Volatility (1Y) Calculated over the trailing 1-year period	8.71%	10.47%	-1.76%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	11.74%	19.12%	-7.38%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	14.08%	20.36%	-6.28%

GBDV.L vs. LGGG.L - Expense Ratio Comparison

GBDV.L has a 0.45% expense ratio, which is higher than LGGG.L's 0.10% expense ratio.

Dividends

GBDV.L vs. LGGG.L - Dividend Comparison

GBDV.L's dividend yield for the trailing twelve months is around 3.81%, while LGGG.L has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
GBDV.L SPDR S&P Global Dividend Aristocrats UCITS	3.81%	4.21%	3.80%	4.25%	4.26%	3.68%	3.91%	3.60%	3.87%	3.28%	3.49%	3.73%
LGGG.L L&G Global Equity UCITS ETF	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both GBDV.L and LGGG.L in my portfolio?

GBDV.L and LGGG.L have a correlation of 0.37, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, GBDV.L or LGGG.L?

On fees, LGGG.L is cheaper at 0.10% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, GBDV.L or LGGG.L?

LGGG.L is cheaper with a 0.10% expense ratio, compared with 0.45% for GBDV.L.

What is the main difference between GBDV.L and LGGG.L?

GBDV.L tracks S&P Global Dividend Aristocrats index, while LGGG.L tracks MSCI ACWI NR USD. They also come from different issuers: State Street and Legal & General. Their fees differ too: 0.45% for GBDV.L and 0.10% for LGGG.L.