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ISEU.L vs. LDEG.L
Performance
Return for Risk
Drawdowns
Volatility
Dividends

ISEU.L vs. LDEG.L

Last updated Jun 5, 2026

ISEU.L (iShares MSCI Europe UCITS Dist) and LDEG.L (L&G Quality Equity Dividends ESG Exclusions Europe ex-UK UCITS ETF) are both Europe Equities funds - ISEU.L tracks the MSCI Europe NR EUR while LDEG.L tracks the MSCI Europe Ex UK NR EUR. Both are passively managed. Over the past 5 years, ISEU.L returned 8.98%/yr vs 14.86%/yr for LDEG.L. A 0.74 correlation means they provide meaningful diversification when combined. ISEU.L charges 1.00%/yr vs 0.25%/yr for LDEG.L.

Performance

ISEU.L vs. LDEG.L - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares MSCI Europe UCITS Dist (ISEU.L) and L&G Quality Equity Dividends ESG Exclusions Europe ex-UK UCITS ETF (LDEG.L). The values are adjusted to include any dividend payments, if applicable.

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Different Trading Currencies

ISEU.L is traded in USD, while LDEG.L is traded in GBp. To make them comparable, the LDEG.L values have been converted to USD using the latest available exchange rates.

Returns By Period

In the year-to-date period, ISEU.L achieves a 6.49% return, which is significantly lower than LDEG.L's 10.14% return.

ISEU.L

1D
0.66%
1M
2.76%
YTD
6.49%
6M
9.55%
1Y
18.11%
3Y*
16.86%
5Y*
8.98%
10Y*
—

LDEG.L

1D
0.94%
1M
0.51%
YTD
10.14%
6M
14.79%
1Y
29.27%
3Y*
27.12%
5Y*
14.86%
10Y*
—
*Multi-year figures are annualized to reflect compound growth (CAGR)

ISEU.L vs. LDEG.L - Yearly Performance Comparison

2026 (YTD)20252024202320222021
ISEU.L
iShares MSCI Europe UCITS Dist		6.49%35.19%2.19%19.52%-13.73%3.63%
LDEG.L
L&G Quality Equity Dividends ESG Exclusions Europe ex-UK UCITS ETF		10.14%55.86%7.01%20.35%-5.55%-2.70%

Correlation

The correlation between ISEU.L and LDEG.L is 0.86, 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

0.86

Correlation (3Y)
Calculated over the trailing 3-year period

0.87

Correlation (5Y)
Calculated over the trailing 5-year period

0.74

Correlation (All Time)
Calculated using the full available price history since May 10, 2021

0.74

The correlation between ISEU.L and LDEG.L shifts across timeframes, from 0.74 (all time) to 0.87 (3 years), reflecting how their relationship changes across market environments.

ISEU.L vs. LDEG.L - Sectors Allocation Comparison

Sectors
ISEU.L
LDEG.L

Financial Services

23.3%
41.5%

Industrials

19.7%
15.8%

Healthcare

13.1%
3.4%

Technology

8.6%
2.0%

Consumer Defensive

8.4%
3.1%

Consumer Cyclical

6.3%
3.3%

Basic Materials

5.6%
9.9%

Energy

5.4%
7.7%

Utilities

5.1%
8.2%

Communication Services

3.7%
5.2%

Real Estate

0.8%

-

Financial Services

ISEU.L
23.3%
LDEG.L
41.5%

Industrials

ISEU.L
19.7%
LDEG.L
15.8%

Healthcare

ISEU.L
13.1%
LDEG.L
3.4%

Technology

ISEU.L
8.6%
LDEG.L
2.0%

Consumer Defensive

ISEU.L
8.4%
LDEG.L
3.1%

Consumer Cyclical

ISEU.L
6.3%
LDEG.L
3.3%

Basic Materials

ISEU.L
5.6%
LDEG.L
9.9%

Energy

ISEU.L
5.4%
LDEG.L
7.7%

Utilities

ISEU.L
5.1%
LDEG.L
8.2%

Communication Services

ISEU.L
3.7%
LDEG.L
5.2%

Real Estate

ISEU.L
0.8%
LDEG.L

-

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iShares MSCI Europe UCITS Dist

L&G Quality Equity Dividends ESG Exclusions Europe ex-UK UCITS ETF

Often compared with ISEU.L:
ISEU.L vs. ISX5.LISEU.L vs. EMMISEU.L vs. MJMT.DEISEU.L vs. VEUR.LISEU.L vs. QQQISEU.L vs. CSPX.LISEU.L vs. ^GSPC
Often compared with LDEG.L:
LDEG.L vs. TDGB.LLDEG.L vs. LDUK.LLDEG.L vs. FLXD.LLDEG.L vs. UKDV.LLDEG.L vs. S7XP.LLDEG.L vs. EUDVLDEG.L vs. EUHD.L

Return for Risk

ISEU.L vs. LDEG.L — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
ISEU.L
ISEU.L Risk / Return Rank: 3434
Overall Rank
ISEU.L Sharpe Ratio Rank: 3434
Sharpe Ratio Rank
ISEU.L Sortino Ratio Rank: 3434
Sortino Ratio Rank
ISEU.L Omega Ratio Rank: 3434
Omega Ratio Rank
ISEU.L Calmar Ratio Rank: 3333
Calmar Ratio Rank
ISEU.L Martin Ratio Rank: 3737
Martin Ratio Rank
LDEG.L
LDEG.L Risk / Return Rank: 7878
Overall Rank
LDEG.L Sharpe Ratio Rank: 8282
Sharpe Ratio Rank
LDEG.L Sortino Ratio Rank: 8080
Sortino Ratio Rank
LDEG.L Omega Ratio Rank: 8080
Omega Ratio Rank
LDEG.L Calmar Ratio Rank: 7676
Calmar Ratio Rank
LDEG.L Martin Ratio Rank: 7474
Martin Ratio Rank
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.

ISEU.L vs. LDEG.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares MSCI Europe UCITS Dist (ISEU.L) and L&G Quality Equity Dividends ESG Exclusions Europe ex-UK UCITS ETF (LDEG.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.

ISEU.LLDEG.LDifference
Sharpe ratioReturn per unit of total volatility
1.19
2.13

-0.94

Sortino ratioReturn per unit of downside risk
1.77
2.95

-1.18

Omega ratioGain probability vs. loss probability

1.22

1.38

-0.16

Calmar ratioReturn relative to maximum drawdown

1.57

3.27

-1.70

Martin ratioReturn relative to average drawdown

5.63

11.10

-5.46

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

ISEU.L vs. LDEG.L - Sharpe Ratio Comparison

The current ISEU.L Sharpe Ratio is 1.19, which is lower than the LDEG.L Sharpe Ratio of 2.13. The chart below compares the historical Sharpe Ratios of ISEU.L and LDEG.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.

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Sharpe Ratios by Period

ISEU.LLDEG.LDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

1.19

2.13

-0.94

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.51

0.93

-0.42

Sharpe Ratio (All Time)

Calculated using the full available price history

0.60

0.95

-0.34

Drawdowns

ISEU.L vs. LDEG.L - Drawdown Comparison

The maximum ISEU.L drawdown since its inception was -36.02%, which is greater than LDEG.L's maximum drawdown of -31.70%. Use the drawdown chart below to compare losses from any high point for ISEU.L and LDEG.L.

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Drawdown Indicators

ISEU.LLDEG.LDifference

Max Drawdown

Largest peak-to-trough decline

-36.02%

-31.70%

-4.32%

Max Drawdown (1Y)

Largest decline over 1 year

-11.47%

-8.91%

-2.56%

Max Drawdown (3Y)

Largest decline over 3 years

-14.15%

-13.44%

-0.71%

Max Drawdown (5Y)

Largest decline over 5 years

-30.77%

-31.70%

+0.93%

Current Drawdown

Current decline from peak

-1.38%

-1.57%

+0.19%

Average Drawdown

Average peak-to-trough decline

-6.33%

-5.36%

-0.97%

Ulcer Index

Depth and duration of drawdowns from previous peaks

3.21%

2.63%

+0.58%

Volatility

ISEU.L vs. LDEG.L - Volatility Comparison

iShares MSCI Europe UCITS Dist (ISEU.L) has a higher volatility of 5.35% compared to L&G Quality Equity Dividends ESG Exclusions Europe ex-UK UCITS ETF (LDEG.L) at 4.24%. This indicates that ISEU.L's price experiences larger fluctuations and is considered to be riskier than LDEG.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

ISEU.LLDEG.LDifference

Volatility (1M)

Calculated over the trailing 1-month period

5.35%

4.24%

+1.11%

Volatility (6M)

Calculated over the trailing 6-month period

12.62%

10.82%

+1.80%

Volatility (1Y)

Calculated over the trailing 1-year period

15.14%

13.68%

+1.46%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

17.66%

19.65%

-1.99%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

17.61%

19.65%

-2.04%

ISEU.L vs. LDEG.L - Expense Ratio Comparison

ISEU.L has a 1.00% expense ratio, which is higher than LDEG.L's 0.25% expense ratio.

Dividends

ISEU.L vs. LDEG.L - Dividend Comparison

ISEU.L's dividend yield for the trailing twelve months is around 2.54%, less than LDEG.L's 3.13% yield.

PositionTTM202520242023202220212020201920182017
ISEU.L
iShares MSCI Europe UCITS Dist		2.54%2.46%3.00%2.81%2.86%2.36%1.91%3.03%3.28%2.48%
LDEG.L
L&G Quality Equity Dividends ESG Exclusions Europe ex-UK UCITS ETF		3.13%3.43%4.21%4.11%3.70%3.11%0.00%0.00%0.00%0.00%

Frequently Asked Questions

ISEU.L and LDEG.L have a correlation of 0.86, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

On fees, LDEG.L is cheaper at 0.25% per year. The better choice depends on whether you care most about return, fees, risk, or income.

LDEG.L is cheaper with a 0.25% expense ratio, compared with 1.00% for ISEU.L.

ISEU.L tracks MSCI Europe NR EUR, while LDEG.L tracks MSCI Europe Ex UK NR EUR. They also come from different issuers: iShares and Legal & General. Their fees differ too: 1.00% for ISEU.L and 0.25% for LDEG.L.

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