GBPC.L vs. LGUG.L

Last updated Apr 3, 2026

Compare and contrast key facts about L&G ESG GBP Corporate Bond UCITS ETF (GBPC.L) and L&G US Equity UCITS ETF (LGUG.L).

GBPC.L and LGUG.L are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. GBPC.L is a passively managed fund by Legal & General that tracks the performance of the Markit iBoxx GBP NonGilts TR. It was launched on Dec 3, 2020. LGUG.L is a passively managed fund by Legal & General that tracks the performance of the Russell 1000 TR USD. It was launched on Nov 7, 2018. Both GBPC.L and LGUG.L are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.

Performance

GBPC.L vs. LGUG.L - Performance Comparison

The chart below illustrates the hypothetical performance of a £10,000 investment in L&G ESG GBP Corporate Bond UCITS ETF (GBPC.L) and L&G US Equity UCITS ETF (LGUG.L). The values are adjusted to include any dividend payments, if applicable.

GBPC.L vs. LGUG.L - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
GBPC.L L&G ESG GBP Corporate Bond UCITS ETF	-1.28%	6.83%	2.78%	8.45%	-17.18%	-2.43%	-0.23%
LGUG.L L&G US Equity UCITS ETF	-3.05%	9.75%	27.44%	21.53%	-10.98%	29.52%	-0.90%

Returns By Period

In the year-to-date period, GBPC.L achieves a -1.28% return, which is significantly higher than LGUG.L's -3.05% return.

GBPC.L

• 1D: -0.08%
• 1M: -1.35%
• YTD: -1.28%
• 6M: 1.04%
• 1Y: 5.15%
• 3Y*: 4.71%
• 5Y*: -0.34%
• 10Y*: —

LGUG.L

• 1D: 0.40%
• 1M: -2.26%
• YTD: -3.05%
• 6M: -0.77%
• 1Y: 15.22%
• 3Y*: 16.10%
• 5Y*: 12.48%
• 10Y*: —

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

GBPC.L vs. LGUG.L - Expense Ratio Comparison

GBPC.L has a 0.09% expense ratio, which is higher than LGUG.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%.

GBPC.L

L&G ESG GBP Corporate Bond UCITS ETF

LGUG.L

L&G US Equity UCITS ETF

Return for Risk

GBPC.L vs. LGUG.L — Risk / Return Rank

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

GBPC.L

GBPC.L Risk / Return Rank: 40
GBPC.L Sharpe Ratio Rank: 43
GBPC.L Sortino Ratio Rank: 40
GBPC.L Omega Ratio Rank: 39
GBPC.L Calmar Ratio Rank: 37
GBPC.L Martin Ratio Rank: 43

LGUG.L

LGUG.L Risk / Return Rank: 60
LGUG.L Sharpe Ratio Rank: 50
LGUG.L Sortino Ratio Rank: 50
LGUG.L Omega Ratio Rank: 50
LGUG.L Calmar Ratio Rank: 80
LGUG.L Martin Ratio Rank: 73

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.

GBPC.L vs. LGUG.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 US Equity UCITS ETF (LGUG.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	LGUG.L	Difference
Sharpe ratio Return per unit of total volatility	0.86	0.97	-0.11
Sortino ratio Return per unit of downside risk	1.21	1.41	-0.20
Omega ratio Gain probability vs. loss probability	1.17	1.20	-0.04
Calmar ratio Return relative to maximum drawdown	1.22	2.65	-1.43
Martin ratio Return relative to average drawdown	5.13	8.97	-3.84
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

GBPC.L vs. LGUG.L - Sharpe Ratio Comparison

The current GBPC.L Sharpe Ratio is 0.86, which is comparable to the LGUG.L Sharpe Ratio of 0.97. The chart below compares the historical Sharpe Ratios of GBPC.L and LGUG.L, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	GBPC.L	LGUG.L	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.86	0.97	-0.11
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.05	0.86	-0.91
Sharpe Ratio (All Time) Calculated using the full available price history	-0.15	1.07	-1.22

Correlation

The correlation between GBPC.L and LGUG.L is 0.10, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.

Dividends

GBPC.L vs. LGUG.L - Dividend Comparison

GBPC.L's dividend yield for the trailing twelve months is around 5.22%, while LGUG.L has not paid dividends to shareholders.

	TTM	2025	2024	2023	2022	2021
GBPC.L L&G ESG GBP Corporate Bond UCITS ETF	5.22%	5.00%	4.86%	3.58%	2.16%	0.87%
LGUG.L L&G US Equity UCITS ETF	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Drawdowns

GBPC.L vs. LGUG.L - Drawdown Comparison

The maximum GBPC.L drawdown since its inception was -28.18%, which is greater than LGUG.L's maximum drawdown of -24.75%. Use the drawdown chart below to compare losses from any high point for GBPC.L and LGUG.L.

Drawdown Indicators

	GBPC.L	LGUG.L	Difference
Max Drawdown Largest peak-to-trough decline	-28.18%	-24.75%	-3.43%
Max Drawdown (1Y) Largest decline over 1 year	-3.91%	-8.01%	+4.10%
Max Drawdown (5Y) Largest decline over 5 years	-27.49%	-21.49%	-6.00%
Current Drawdown Current decline from peak	-5.87%	-5.28%	-0.59%
Average Drawdown Average peak-to-trough decline	-11.68%	-3.86%	-7.82%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.93%	2.37%	-1.44%

Volatility

GBPC.L vs. LGUG.L - Volatility Comparison

The current volatility for L&G ESG GBP Corporate Bond UCITS ETF (GBPC.L) is 2.52%, while L&G US Equity UCITS ETF (LGUG.L) has a volatility of 3.71%. This indicates that GBPC.L experiences smaller price fluctuations and is considered to be less risky than LGUG.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	GBPC.L	LGUG.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.52%	3.71%	-1.19%
Volatility (6M) Calculated over the trailing 6-month period	3.66%	8.57%	-4.91%
Volatility (1Y) Calculated over the trailing 1-year period	5.96%	15.66%	-9.70%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	8.04%	14.91%	-6.87%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	8.07%	17.52%	-9.45%