GBPC.L vs. LDUK.L
GBPC.L (L&G ESG GBP Corporate Bond UCITS ETF) and LDUK.L (L&G Quality Equity Dividends ESG Exclusions UK UCITS ETF) are both exchange-traded funds - GBPC.L is a European Corporate Bonds fund tracking the Markit iBoxx GBP NonGilts TR, while LDUK.L is a Europe Equities fund tracking the FTSE AllSh TR GBP. Both are passively managed. Over the past 5 years, GBPC.L returned -0.17%/yr vs 9.34%/yr for LDUK.L. At a 0.25 correlation, their price movements are largely independent. GBPC.L charges 0.09%/yr vs 0.25%/yr for LDUK.L.
Performance
GBPC.L vs. LDUK.L - Performance Comparison
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Returns By Period
In the year-to-date period, GBPC.L achieves a 0.12% return, which is significantly lower than LDUK.L's 3.01% return.
GBPC.L
- 1D
- 0.26%
- 1M
- 2.00%
- YTD
- 0.12%
- 6M
- 0.43%
- 1Y
- 4.91%
- 3Y*
- 6.29%
- 5Y*
- -0.17%
- 10Y*
- —
LDUK.L
- 1D
- 0.72%
- 1M
- 2.00%
- YTD
- 3.01%
- 6M
- 6.82%
- 1Y
- 12.69%
- 3Y*
- 16.70%
- 5Y*
- 9.34%
- 10Y*
- —
GBPC.L vs. LDUK.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
GBPC.L L&G ESG GBP Corporate Bond UCITS ETF | 0.12% | 6.83% | 2.78% | 8.45% | -17.18% | 0.02% |
LDUK.L L&G Quality Equity Dividends ESG Exclusions UK UCITS ETF | 3.01% | 22.62% | 16.13% | 8.22% | -3.33% | 6.07% |
Correlation
The correlation between GBPC.L and LDUK.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 | 0.37 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.26 |
Correlation (All Time) Calculated using the full available price history since Apr 21, 2021 | 0.25 |
The correlation between GBPC.L and LDUK.L shifts across timeframes, from 0.25 (all time) to 0.43 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
GBPC.L vs. LDUK.L — Risk / Return Rank
GBPC.L
LDUK.L
GBPC.L vs. LDUK.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for L&G ESG GBP Corporate Bond UCITS ETF (GBPC.L) and L&G Quality Equity Dividends ESG Exclusions UK UCITS ETF (LDUK.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.
| GBPC.L | LDUK.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.09 | ||
| Sortino ratioReturn per unit of downside risk | -0.24 | ||
| Omega ratioGain probability vs. loss probability | 1.15 | 1.16 | -0.01 |
| Calmar ratioReturn relative to maximum drawdown | 1.18 | 1.11 | +0.07 |
| Martin ratioReturn relative to average drawdown | 3.91 | 4.06 | -0.15 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| GBPC.L | LDUK.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.78 | 0.87 | -0.09 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.02 | 0.69 | -0.72 |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.10 | 0.76 | -0.86 |
Drawdowns
GBPC.L vs. LDUK.L - Drawdown Comparison
The maximum GBPC.L drawdown since its inception was -28.18%, which is greater than LDUK.L's maximum drawdown of -17.13%. Use the drawdown chart below to compare losses from any high point for GBPC.L and LDUK.L.
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Drawdown Indicators
| GBPC.L | LDUK.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -28.18% | -17.13% | -11.05% |
Max Drawdown (1Y)Largest decline over 1 year | -4.14% | -11.51% | +7.37% |
Max Drawdown (3Y)Largest decline over 3 years | -4.14% | -13.46% | +9.32% |
Max Drawdown (5Y)Largest decline over 5 years | -27.49% | -17.13% | -10.36% |
Current DrawdownCurrent decline from peak | -4.53% | -1.80% | -2.73% |
Average DrawdownAverage peak-to-trough decline | -11.46% | -3.66% | -7.80% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.25% | 3.15% | -1.90% |
Volatility
GBPC.L vs. LDUK.L - Volatility Comparison
The current volatility for L&G ESG GBP Corporate Bond UCITS ETF (GBPC.L) is 3.33%, while L&G Quality Equity Dividends ESG Exclusions UK UCITS ETF (LDUK.L) has a volatility of 4.63%. This indicates that GBPC.L experiences smaller price fluctuations and is considered to be less risky than LDUK.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| GBPC.L | LDUK.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.33% | 4.63% | -1.30% |
Volatility (6M)Calculated over the trailing 6-month period | 5.09% | 12.32% | -7.23% |
Volatility (1Y)Calculated over the trailing 1-year period | 6.23% | 14.67% | -8.44% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 8.19% | 15.61% | -7.42% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 8.15% | 15.64% | -7.49% |
GBPC.L vs. LDUK.L - Expense Ratio Comparison
GBPC.L has a 0.09% expense ratio, which is lower than LDUK.L's 0.25% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
GBPC.L vs. LDUK.L - Dividend Comparison
GBPC.L's dividend yield for the trailing twelve months is around 5.14%, more than LDUK.L's 4.79% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|---|
GBPC.L L&G ESG GBP Corporate Bond UCITS ETF | 5.14% | 5.00% | 4.86% | 3.58% | 2.16% | 0.87% |
LDUK.L L&G Quality Equity Dividends ESG Exclusions UK UCITS ETF | 4.79% | 4.87% | 4.43% | 5.14% | 5.87% | 4.41% |
Frequently Asked Questions
GBPC.L and LDUK.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.
On fees, GBPC.L is cheaper at 0.09% per year. The better choice depends on whether you care most about return, fees, risk, or income.
GBPC.L is cheaper with a 0.09% expense ratio, compared with 0.25% for LDUK.L.
GBPC.L is categorized as European Corporate Bonds, while LDUK.L is Europe Equities. GBPC.L tracks Markit iBoxx GBP NonGilts TR, while LDUK.L tracks FTSE AllSh TR GBP. Their fees differ too: 0.09% for GBPC.L and 0.25% for LDUK.L.
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