HSXE.L vs. LGUK.L
HSXE.L (HSBC Europe Ex UK Screened Equity UCITS ETF EUR Dis) and LGUK.L (L&G UK Equity UCITS ETF) are both Europe Equities funds - HSXE.L tracks the HSBC Europe Ex UK Screened Equity UCITS ETF EUR Dis while LGUK.L tracks the FTSE AllSh TR GBP. Both are passively managed. Over the past 3 years, HSXE.L returned 16.10%/yr vs 16.22%/yr for LGUK.L. A 0.65 correlation means they provide meaningful diversification when combined.
Performance
HSXE.L vs. LGUK.L - Performance Comparison
Loading charts...
Different Trading Currencies
HSXE.L is traded in GBP, while LGUK.L is traded in GBp. To make them comparable, the LGUK.L values have been converted to GBP using the latest available exchange rates.
Returns By Period
In the year-to-date period, HSXE.L achieves a 13.08% return, which is significantly higher than LGUK.L's 7.75% return.
HSXE.L
- 1D
- -0.35%
- 1M
- -1.94%
- 6M
- 10.19%
- YTD
- 13.08%
- 1Y
- 24.00%
- 3Y*
- 16.10%
- 5Y*
- —
- 10Y*
- —
LGUK.L
- 1D
- 0.06%
- 1M
- 1.43%
- 6M
- 5.40%
- YTD
- 7.75%
- 1Y
- 20.57%
- 3Y*
- 16.22%
- 5Y*
- 12.32%
- 10Y*
- —
HSXE.L vs. LGUK.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
HSXE.L HSBC Europe Ex UK Screened Equity UCITS ETF EUR Dis | 13.08% | 24.17% | 3.60% | 18.35% | -15.14% |
LGUK.L L&G UK Equity UCITS ETF | 7.75% | 24.95% | 10.56% | 6.64% | 0.28% |
Correlation
The correlation between HSXE.L and LGUK.L is 0.51, 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 | 0.51 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.62 |
Correlation (All Time) Calculated using the full available price history since Apr 21, 2022 | 0.65 |
The correlation between HSXE.L and LGUK.L shifts across timeframes, from 0.51 (1 year) to 0.65 (all time), reflecting how their relationship changes across market environments.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
HSXE.L vs. LGUK.L — Risk / Return Rank
HSXE.L
LGUK.L
HSXE.L vs. LGUK.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for HSBC Europe Ex UK Screened Equity UCITS ETF EUR Dis (HSXE.L) and L&G UK Equity UCITS ETF (LGUK.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.
| HSXE.L | LGUK.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.39 | ||
| Sortino ratioReturn per unit of downside risk | +0.47 | ||
| Omega ratioGain probability vs. loss probability | 1.33 | 1.27 | +0.06 |
| Calmar ratioReturn relative to maximum drawdown | 2.30 | 2.20 | +0.10 |
| Martin ratioReturn relative to average drawdown | 8.41 | 7.04 | +1.38 |
Loading charts...
Drawdowns
HSXE.L vs. LGUK.L - Drawdown Comparison
The maximum HSXE.L drawdown since its inception was -25.98%, smaller than the maximum LGUK.L drawdown of -33.76%. Use the drawdown chart below to compare losses from any high point for HSXE.L and LGUK.L.
Loading charts...
Drawdown Indicators
| HSXE.L | LGUK.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -25.98% | -33.76% | +7.78% |
Max Drawdown (1Y)Largest decline over 1 year | -10.50% | -9.30% | -1.20% |
Max Drawdown (3Y)Largest decline over 3 years | -11.48% | -12.30% | +0.82% |
Max Drawdown (5Y)Largest decline over 5 years | — | -12.30% | — |
Current DrawdownCurrent decline from peak | -3.27% | -2.05% | -1.22% |
Average DrawdownAverage peak-to-trough decline | -6.19% | -4.78% | -1.41% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.88% | 2.92% | -0.04% |
Volatility
HSXE.L vs. LGUK.L - Volatility Comparison
HSBC Europe Ex UK Screened Equity UCITS ETF EUR Dis (HSXE.L) has a higher volatility of 3.88% compared to L&G UK Equity UCITS ETF (LGUK.L) at 3.56%. This indicates that HSXE.L's price experiences larger fluctuations and is considered to be riskier than LGUK.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| HSXE.L | LGUK.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.88% | 3.56% | +0.32% |
Volatility (6M)Calculated over the trailing 6-month period | 11.64% | 11.86% | -0.22% |
Volatility (1Y)Calculated over the trailing 1-year period | 13.61% | 14.81% | -1.20% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 19.15% | 13.88% | +5.27% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 19.15% | 16.25% | +2.90% |
Dividends
HSXE.L vs. LGUK.L - Dividend Comparison
HSXE.L's dividend yield for the trailing twelve months is around 2.52%, while LGUK.L has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 |
|---|---|---|---|---|
HSXE.L HSBC Europe Ex UK Screened Equity UCITS ETF EUR Dis | 2.52% | 2.65% | 2.73% | 3.93% |
LGUK.L L&G UK Equity UCITS ETF | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
HSXE.L and LGUK.L have a correlation of 0.51, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
HSXE.L tracks HSBC Europe Ex UK Screened Equity UCITS ETF EUR Dis, while LGUK.L tracks FTSE AllSh TR GBP. They also come from different issuers: HSBC and Legal & General.
Find the right allocation for HSXE.L and LGUK.L
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer