GLGG.L vs. RIEG.L

Last updated Jun 5, 2026

GLGG.L (L&G Clean Water UCITS ETF) and RIEG.L (L&G Europe ESG Exclusions Paris Aligned UCITS ETF EUR Accumulating) are both exchange-traded funds - GLGG.L is a Water Equities fund tracking the S&P Global Water TR, while RIEG.L is a Europe Equities fund tracking the MSCI Europe NR EUR. Both are passively managed. Over the past 5 years, GLGG.L returned 6.66%/yr vs 7.95%/yr for RIEG.L. A 0.68 correlation means they provide meaningful diversification when combined. GLGG.L charges 0.49%/yr vs 0.16%/yr for RIEG.L.

Performance

GLGG.L vs. RIEG.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 Europe ESG Exclusions Paris Aligned UCITS ETF EUR Accumulating (RIEG.L). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, GLGG.L achieves a 2.12% return, which is significantly lower than RIEG.L's 3.70% 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*: —

RIEG.L

• 1D: -0.76%
• 1M: 1.74%
• YTD: 3.70%
• 6M: 5.38%
• 1Y: 13.36%
• 3Y*: 11.29%
• 5Y*: 7.95%
• 10Y*: —

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

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

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
GLGG.L L&G Clean Water UCITS ETF	2.12%	7.81%	5.74%	14.58%	-7.49%	27.84%	14.27%	3.96%
RIEG.L L&G Europe ESG Exclusions Paris Aligned UCITS ETF EUR Accumulating	3.70%	21.77%	4.47%	13.07%	-7.71%	17.00%	5.45%	3.97%

Correlation

The correlation between GLGG.L and RIEG.L is 0.65, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.65
Correlation (3Y) Calculated over the trailing 3-year period	0.64
Correlation (5Y) Calculated over the trailing 5-year period	0.69
Correlation (All Time) Calculated using the full available price history since Sep 18, 2019	0.68

The correlation between GLGG.L and RIEG.L has been stable across timeframes, ranging from 0.64 to 0.69 - a consistent structural relationship.

GLGG.L vs. RIEG.L - Sectors Allocation Comparison

Sectors	GLGG.L	RIEG.L
Industrials	65.2%	18.2%
Utilities	15.8%	7.1%
Basic Materials	9.0%	3.8%
Technology	6.4%	8.2%
Healthcare	1.9%	12.5%
Consumer Defensive	1.7%	10.2%
Communication Services	-	4.5%
Consumer Cyclical	-	6.9%
Energy	-	4.5%
Financial Services	-	24.1%
Real Estate	-	-

Return for Risk

GLGG.L vs. RIEG.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: 21
GLGG.L Calmar Ratio Rank: 20
GLGG.L Martin Ratio Rank: 20

RIEG.L

RIEG.L Risk / Return Rank: 30
RIEG.L Sharpe Ratio Rank: 33
RIEG.L Sortino Ratio Rank: 31
RIEG.L Omega Ratio Rank: 33
RIEG.L Calmar Ratio Rank: 26
RIEG.L Martin Ratio Rank: 29

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. RIEG.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 Europe ESG Exclusions Paris Aligned UCITS ETF EUR Accumulating (RIEG.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	RIEG.L	Difference
Sharpe ratio: Return per unit of total volatility	0.72	1.16	-0.43
Sortino ratio: Return per unit of downside risk	1.07	1.63	-0.57
Omega ratio: Gain probability vs. loss probability	1.13	1.22	-0.09
Calmar ratio: Return relative to maximum drawdown	0.85	1.24	-0.38
Martin ratio: Return relative to average drawdown	2.15	4.05	-1.91
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

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

The current GLGG.L Sharpe Ratio is 0.72, which is lower than the RIEG.L Sharpe Ratio of 1.16. The chart below compares the historical Sharpe Ratios of GLGG.L and RIEG.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.

Sharpe Ratios by Period

	GLGG.L	RIEG.L	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.72	1.16	-0.43
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.44	0.57	-0.12
Sharpe Ratio (All Time) Calculated using the full available price history	0.58	0.55	+0.03

Drawdowns

GLGG.L vs. RIEG.L - Drawdown Comparison

The maximum GLGG.L drawdown since its inception was -27.08%, roughly equal to the maximum RIEG.L drawdown of -27.21%. Use the drawdown chart below to compare losses from any high point for GLGG.L and RIEG.L.

Drawdown Indicators

	GLGG.L	RIEG.L	Difference
Max Drawdown Largest peak-to-trough decline	-27.08%	-27.21%	+0.13%
Max Drawdown (1Y) Largest decline over 1 year	-11.62%	-11.24%	-0.38%
Max Drawdown (3Y) Largest decline over 3 years	-16.35%	-12.35%	-4.00%
Max Drawdown (5Y) Largest decline over 5 years	-18.82%	-19.81%	+0.99%
Current Drawdown Current decline from peak	-8.46%	-4.51%	-3.95%
Average Drawdown Average peak-to-trough decline	-5.14%	-4.40%	-0.74%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.63%	3.43%	+1.20%

Volatility

GLGG.L vs. RIEG.L - Volatility Comparison

L&G Clean Water UCITS ETF (GLGG.L) has a higher volatility of 4.33% compared to L&G Europe ESG Exclusions Paris Aligned UCITS ETF EUR Accumulating (RIEG.L) at 4.11%. This indicates that GLGG.L's price experiences larger fluctuations and is considered to be riskier than RIEG.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	GLGG.L	RIEG.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.33%	4.11%	+0.22%
Volatility (6M) Calculated over the trailing 6-month period	11.10%	9.99%	+1.11%
Volatility (1Y) Calculated over the trailing 1-year period	13.76%	12.02%	+1.74%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.04%	14.05%	+0.99%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.68%	16.18%	+1.50%

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

GLGG.L has a 0.49% expense ratio, which is higher than RIEG.L's 0.16% expense ratio.

Dividends

GLGG.L vs. RIEG.L - Dividend Comparison

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

Tickers have no history of dividend payments

Frequently Asked Questions

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

GLGG.L and RIEG.L have a correlation of 0.65, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

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

On fees, RIEG.L is cheaper at 0.16% per year. The better choice depends on whether you care most about return, fees, risk, or income.

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

RIEG.L is cheaper with a 0.16% expense ratio, compared with 0.49% for GLGG.L.

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

GLGG.L is categorized as Water Equities, while RIEG.L is Europe Equities. GLGG.L tracks S&P Global Water TR, while RIEG.L tracks MSCI Europe NR EUR. Their fees differ too: 0.49% for GLGG.L and 0.16% for RIEG.L.