GLGG.L vs. DRGN.L
GLGG.L (L&G Clean Water UCITS ETF) and DRGN.L (L&G China CNY Bond UCITS ETF) are both exchange-traded funds - GLGG.L is a Water Equities fund tracking the S&P Global Water TR, while DRGN.L is a Emerging Markets Bonds fund actively managed by Legal & General. GLGG.L is passively managed, while DRGN.L is actively managed. Over the past 5 years, GLGG.L returned 6.66%/yr vs 3.36%/yr for DRGN.L. At a 0.07 correlation, their price movements are largely independent. GLGG.L charges 0.49%/yr vs 0.30%/yr for DRGN.L.
Performance
GLGG.L vs. DRGN.L - Performance Comparison
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Different Trading Currencies
GLGG.L is traded in GBp, while DRGN.L is traded in USD. To make them comparable, the DRGN.L values have been converted to GBp using the latest available exchange rates.
Returns By Period
In the year-to-date period, GLGG.L achieves a 2.12% return, which is significantly lower than DRGN.L's 5.05% return.
GLGG.L
- 1D
- 0.49%
- 1M
- -0.96%
- YTD
- 2.12%
- 6M
- 1.19%
- 1Y
- 9.96%
- 3Y*
- 8.33%
- 5Y*
- 6.66%
- 10Y*
- —
DRGN.L
- 1D
- -0.08%
- 1M
- 2.30%
- YTD
- 5.05%
- 6M
- 5.55%
- 1Y
- 9.27%
- 3Y*
- 2.36%
- 5Y*
- 3.36%
- 10Y*
- —
GLGG.L vs. DRGN.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
GLGG.L L&G Clean Water UCITS ETF | 2.12% | 7.81% | 5.74% | 14.58% | -7.49% | 27.84% | 0.35% |
DRGN.L L&G China CNY Bond UCITS ETF | 5.05% | -2.08% | 4.95% | -4.56% | 5.93% | 8.17% | -1.03% |
Correlation
The correlation between GLGG.L and DRGN.L is 0.13, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.13 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.10 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.06 |
Correlation (All Time) Calculated using the full available price history since Dec 10, 2020 | 0.07 |
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Return for Risk
GLGG.L vs. DRGN.L — Risk / Return Rank
GLGG.L
DRGN.L
GLGG.L vs. DRGN.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for L&G Clean Water UCITS ETF (GLGG.L) and L&G China CNY Bond UCITS ETF (DRGN.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.
| GLGG.L | DRGN.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.70 | ||
| Sortino ratioReturn per unit of downside risk | -1.07 | ||
| Omega ratioGain probability vs. loss probability | 1.13 | 1.27 | -0.13 |
| Calmar ratioReturn relative to maximum drawdown | 0.85 | 2.93 | -2.08 |
| Martin ratioReturn relative to average drawdown | 2.15 | 8.53 | -6.38 |
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
| GLGG.L | DRGN.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.72 | 1.42 | -0.70 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.44 | 0.44 | 0.00 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.58 | 0.38 | +0.20 |
Drawdowns
GLGG.L vs. DRGN.L - Drawdown Comparison
The maximum GLGG.L drawdown since its inception was -27.08%, which is greater than DRGN.L's maximum drawdown of -16.74%. Use the drawdown chart below to compare losses from any high point for GLGG.L and DRGN.L.
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Drawdown Indicators
| GLGG.L | DRGN.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -27.08% | -16.74% | -10.34% |
Max Drawdown (1Y)Largest decline over 1 year | -11.62% | -3.15% | -8.47% |
Max Drawdown (3Y)Largest decline over 3 years | -16.35% | -9.14% | -7.21% |
Max Drawdown (5Y)Largest decline over 5 years | -18.82% | -16.74% | -2.08% |
Current DrawdownCurrent decline from peak | -8.46% | -5.57% | -2.89% |
Average DrawdownAverage peak-to-trough decline | -5.14% | -7.74% | +2.60% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.63% | 1.09% | +3.54% |
Volatility
GLGG.L vs. DRGN.L - Volatility Comparison
L&G Clean Water UCITS ETF (GLGG.L) has a higher volatility of 4.33% compared to L&G China CNY Bond UCITS ETF (DRGN.L) at 1.82%. This indicates that GLGG.L's price experiences larger fluctuations and is considered to be riskier than DRGN.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| GLGG.L | DRGN.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.33% | 1.82% | +2.51% |
Volatility (6M)Calculated over the trailing 6-month period | 11.10% | 5.18% | +5.92% |
Volatility (1Y)Calculated over the trailing 1-year period | 13.76% | 6.51% | +7.25% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 15.04% | 7.58% | +7.46% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.68% | 7.55% | +10.13% |
GLGG.L vs. DRGN.L - Expense Ratio Comparison
GLGG.L has a 0.49% expense ratio, which is higher than DRGN.L's 0.30% expense ratio.
Dividends
GLGG.L vs. DRGN.L - Dividend Comparison
GLGG.L has not paid dividends to shareholders, while DRGN.L's dividend yield for the trailing twelve months is around 1.63%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|---|
DRGN.L L&G China CNY Bond UCITS ETF | 1.63% | 1.94% | 2.31% | 2.45% | 2.76% | 1.44% |
GLGG.L L&G Clean Water UCITS ETF | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
GLGG.L and DRGN.L have a correlation of 0.13, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, DRGN.L is cheaper at 0.30% per year. The better choice depends on whether you care most about return, fees, risk, or income.
DRGN.L is cheaper with a 0.30% expense ratio, compared with 0.49% for GLGG.L.
GLGG.L is categorized as Water Equities, while DRGN.L is Emerging Markets Bonds. Their fees differ too: 0.49% for GLGG.L and 0.30% for DRGN.L.
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