GLGG.L vs. GLUG.L

Last updated Jul 18, 2026

GLGG.L (L&G Clean Water UCITS ETF) and GLUG.L (L&G Clean Water UCITS ETF USD (Acc)) are both Water Equities funds - GLGG.L tracks the S&P Global Water TR while GLUG.L tracks the Solactive Clean Water Index NTR. Both are passively managed. Over the past 5 years, GLGG.L returned 6.67%/yr vs 6.69%/yr for GLUG.L. Their correlation of 0.91 suggests significant overlap in exposure. Both charge a 0.49% expense ratio.

Performance

GLGG.L vs. GLUG.L - Performance Comparison

The chart below illustrates the hypothetical performance of a £10,000 investment in L&G Clean Water UCITS ETF (GLGG.L) and L&G Clean Water UCITS ETF USD (Acc) (GLUG.L). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

GLGG.L is traded in GBp, while GLUG.L is traded in USD. To make them comparable, the GLUG.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 5.73% return, which is significantly lower than GLUG.L's 6.10% return.

GLGG.L

• 1D: -0.04%
• 1M: 0.72%
• 6M: -0.22%
• YTD: 5.73%
• 1Y: 8.78%
• 3Y*: 9.72%
• 5Y*: 6.67%
• 10Y*: —

GLUG.L

• 1D: 0.07%
• 1M: 0.12%
• 6M: -0.35%
• YTD: 6.10%
• 1Y: 9.03%
• 3Y*: 9.90%
• 5Y*: 6.69%
• 10Y*: —

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

GLGG.L vs. GLUG.L - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
GLGG.L L&G Clean Water UCITS ETF	5.73%	7.81%	5.74%	14.58%	-7.49%	27.84%	14.90%	-14.11%
GLUG.L L&G Clean Water UCITS ETF USD (Acc)	6.10%	7.51%	5.84%	15.18%	-7.57%	27.35%	15.48%	8.48%

Correlation

The correlation between GLGG.L and GLUG.L is 0.92, 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	0.92
Correlation (3Y) Calculated over the trailing 3-year period	0.89
Correlation (5Y) Calculated over the trailing 5-year period	0.90
Correlation (All Time) Calculated using the full available price history since Jun 26, 2019	0.91

The correlation between GLGG.L and GLUG.L has been stable across timeframes, ranging from 0.89 to 0.92 - a consistent structural relationship.

Return for Risk

GLGG.L vs. GLUG.L — Risk / Return Rank

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

GLGG.L

GLGG.L Risk / Return Rank: 21
GLGG.L Sharpe Ratio Rank: 22
GLGG.L Sortino Ratio Rank: 21
GLGG.L Omega Ratio Rank: 20
GLGG.L Calmar Ratio Rank: 21
GLGG.L Martin Ratio Rank: 20

GLUG.L

GLUG.L Risk / Return Rank: 22
GLUG.L Sharpe Ratio Rank: 22
GLUG.L Sortino Ratio Rank: 22
GLUG.L Omega Ratio Rank: 21
GLUG.L Calmar Ratio Rank: 22
GLUG.L Martin Ratio Rank: 21

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.

GLGG.L vs. GLUG.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 Clean Water UCITS ETF USD (Acc) (GLUG.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.

	GLGG.L	GLUG.L	Difference
Sharpe ratio: Return per unit of total volatility	0.61	0.58	+0.03
Sortino ratio: Return per unit of downside risk	0.93	0.90	+0.02
Omega ratio: Gain probability vs. loss probability	1.11	1.11	0.00
Calmar ratio: Return relative to maximum drawdown	0.75	0.77	-0.02
Martin ratio: Return relative to average drawdown	1.70	1.78	-0.08

GLGG.L vs. GLUG.L - Sharpe Ratio Comparison

The current GLGG.L Sharpe Ratio is 0.61, which is comparable to the GLUG.L Sharpe Ratio of 0.58. The chart below compares the historical Sharpe Ratios of GLGG.L and GLUG.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

GLGG.L vs. GLUG.L - Drawdown Comparison

The maximum GLGG.L drawdown since its inception was -35.59%, which is greater than GLUG.L's maximum drawdown of -27.81%. Use the drawdown chart below to compare losses from any high point for GLGG.L and GLUG.L.

Drawdown Indicators

	GLGG.L	GLUG.L	Difference
Max Drawdown Largest peak-to-trough decline	-35.59%	-27.81%	-7.78%
Max Drawdown (1Y) Largest decline over 1 year	-11.62%	-11.68%	+0.06%
Max Drawdown (3Y) Largest decline over 3 years	-19.97%	-16.59%	-3.38%
Max Drawdown (5Y) Largest decline over 5 years	-19.97%	-19.12%	-0.85%
Current Drawdown Current decline from peak	-5.23%	-4.90%	-0.33%
Average Drawdown Average peak-to-trough decline	-9.00%	-5.12%	-3.88%
Ulcer Index Depth and duration of drawdowns from previous peaks	5.15%	5.07%	+0.08%

Volatility

GLGG.L vs. GLUG.L - Volatility Comparison

The current volatility for L&G Clean Water UCITS ETF (GLGG.L) is 4.95%, while L&G Clean Water UCITS ETF USD (Acc) (GLUG.L) has a volatility of 5.49%. This indicates that GLGG.L experiences smaller price fluctuations and is considered to be less risky than GLUG.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	GLGG.L	GLUG.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.95%	5.49%	-0.54%
Volatility (6M) Calculated over the trailing 6-month period	11.89%	13.04%	-1.15%
Volatility (1Y) Calculated over the trailing 1-year period	14.42%	15.51%	-1.09%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	20.47%	16.26%	+4.21%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	21.90%	18.01%	+3.89%

GLGG.L vs. GLUG.L - Expense Ratio Comparison

Both GLGG.L and GLUG.L have an expense ratio of 0.49%.

Dividends

GLGG.L vs. GLUG.L - Dividend Comparison

Neither GLGG.L nor GLUG.L has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both GLGG.L and GLUG.L in my portfolio?

With a correlation of 0.92, GLGG.L and GLUG.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.

Which ETF is better, GLGG.L or GLUG.L?

Both ETFs have the same 0.49% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, GLGG.L or GLUG.L?

GLGG.L and GLUG.L have the same expense ratio: 0.49% per year.

What is the main difference between GLGG.L and GLUG.L?

GLGG.L tracks S&P Global Water TR, while GLUG.L tracks Solactive Clean Water Index NTR. They also come from different issuers: Legal & General and L&G.