IEFS.L vs. LGUK.L
IEFS.L (iShares Edge MSCI Europe Size Factor UCITS ETF) and LGUK.L (L&G UK Equity UCITS ETF) are both Europe Equities funds - IEFS.L tracks the MSCI Europe SMID NR EUR while LGUK.L tracks the FTSE AllSh TR GBP. Both are passively managed. Over the past 5 years, IEFS.L returned 5.82%/yr vs 11.57%/yr for LGUK.L. A 0.73 correlation means they provide meaningful diversification when combined. IEFS.L charges 0.25%/yr vs 0.05%/yr for LGUK.L.
Performance
IEFS.L vs. LGUK.L - Performance Comparison
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Returns By Period
In the year-to-date period, IEFS.L achieves a 5.78% return, which is significantly higher than LGUK.L's 4.84% return.
IEFS.L
- 1D
- -0.28%
- 1M
- 1.57%
- YTD
- 5.78%
- 6M
- 8.60%
- 1Y
- 16.22%
- 3Y*
- 12.43%
- 5Y*
- 5.82%
- 10Y*
- 8.37%
LGUK.L
- 1D
- -0.49%
- 1M
- -0.40%
- YTD
- 4.84%
- 6M
- 7.37%
- 1Y
- 19.32%
- 3Y*
- 14.32%
- 5Y*
- 11.57%
- 10Y*
- —
IEFS.L vs. LGUK.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
IEFS.L iShares Edge MSCI Europe Size Factor UCITS ETF | 5.78% | 24.40% | 0.75% | 11.87% | -13.35% | 12.21% | 7.23% | 20.36% | -5.48% |
LGUK.L L&G UK Equity UCITS ETF | 4.84% | 24.95% | 10.56% | 6.64% | 5.26% | 17.94% | -12.15% | 20.11% | -7.13% |
Correlation
The correlation between IEFS.L and LGUK.L is 0.56, 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 | 0.56 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.67 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.70 |
Correlation (All Time) Calculated using the full available price history since Nov 14, 2018 | 0.73 |
The correlation between IEFS.L and LGUK.L shifts across timeframes, from 0.56 (1 year) to 0.73 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
IEFS.L vs. LGUK.L — Risk / Return Rank
IEFS.L
LGUK.L
IEFS.L vs. LGUK.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Edge MSCI Europe Size Factor UCITS ETF (IEFS.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.
| IEFS.L | LGUK.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.04 | ||
| Sortino ratioReturn per unit of downside risk | -0.03 | ||
| Omega ratioGain probability vs. loss probability | 1.26 | 1.26 | 0.00 |
| Calmar ratioReturn relative to maximum drawdown | 1.63 | 2.07 | -0.44 |
| Martin ratioReturn relative to average drawdown | 5.83 | 7.06 | -1.23 |
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
| IEFS.L | LGUK.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.38 | 1.34 | +0.04 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.39 | 0.84 | -0.45 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.54 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.52 | 0.53 | -0.01 |
Drawdowns
IEFS.L vs. LGUK.L - Drawdown Comparison
The maximum IEFS.L drawdown since its inception was -31.02%, smaller than the maximum LGUK.L drawdown of -33.76%. Use the drawdown chart below to compare losses from any high point for IEFS.L and LGUK.L.
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Drawdown Indicators
| IEFS.L | LGUK.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -31.02% | -33.76% | +2.74% |
Max Drawdown (1Y)Largest decline over 1 year | -9.91% | -9.30% | -0.61% |
Max Drawdown (3Y)Largest decline over 3 years | -11.84% | -12.30% | +0.46% |
Max Drawdown (5Y)Largest decline over 5 years | -26.40% | -12.30% | -14.10% |
Max Drawdown (10Y)Largest decline over 10 years | -31.02% | — | — |
Current DrawdownCurrent decline from peak | -2.40% | -4.70% | +2.30% |
Average DrawdownAverage peak-to-trough decline | -5.84% | -4.82% | -1.02% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.78% | 2.73% | +0.05% |
Volatility
IEFS.L vs. LGUK.L - Volatility Comparison
The current volatility for iShares Edge MSCI Europe Size Factor UCITS ETF (IEFS.L) is 3.78%, while L&G UK Equity UCITS ETF (LGUK.L) has a volatility of 4.32%. This indicates that IEFS.L experiences smaller price fluctuations and is considered to be less risky than LGUK.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| IEFS.L | LGUK.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.78% | 4.32% | -0.54% |
Volatility (6M)Calculated over the trailing 6-month period | 9.75% | 12.48% | -2.73% |
Volatility (1Y)Calculated over the trailing 1-year period | 11.72% | 14.38% | -2.66% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 14.99% | 13.85% | +1.14% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.59% | 16.31% | -0.72% |
IEFS.L vs. LGUK.L - Expense Ratio Comparison
IEFS.L has a 0.25% expense ratio, which is higher than LGUK.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%.
Dividends
IEFS.L vs. LGUK.L - Dividend Comparison
Neither IEFS.L nor LGUK.L has paid dividends to shareholders.
Frequently Asked Questions
IEFS.L and LGUK.L have a correlation of 0.56, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, LGUK.L is cheaper at 0.05% per year. The better choice depends on whether you care most about return, fees, risk, or income.
LGUK.L is cheaper with a 0.05% expense ratio, compared with 0.25% for IEFS.L.
IEFS.L tracks MSCI Europe SMID NR EUR, while LGUK.L tracks FTSE AllSh TR GBP. They also come from different issuers: iShares and Legal & General. Their fees differ too: 0.25% for IEFS.L and 0.05% for LGUK.L.
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