ISPY.L vs. BUGG.L

Last updated Jun 4, 2026

ISPY.L (L&G Cyber Security UCITS ETF) and BUGG.L (Global X Cybersecurity UCITS ETF USD Accumulating) are both exchange-traded funds - ISPY.L is a Cybersecurity fund tracking the ISE Cyber Security UCITS Index, while BUGG.L is a Technology Equities fund tracking the MSCI World/Information Tech NR USD. Both are passively managed. Over the past 3 years, ISPY.L returned 26.67%/yr vs 13.18%/yr for BUGG.L. Their correlation of 0.91 suggests significant overlap in exposure. ISPY.L charges 0.69%/yr vs 0.50%/yr for BUGG.L.

Performance

ISPY.L vs. BUGG.L - Performance Comparison

The chart below illustrates the hypothetical performance of a £10,000 investment in L&G Cyber Security UCITS ETF (ISPY.L) and Global X Cybersecurity UCITS ETF USD Accumulating (BUGG.L). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

ISPY.L is traded in GBp, while BUGG.L is traded in GBP. To make them comparable, the BUGG.L values have been converted to GBp using the latest available exchange rates.

Returns By Period

In the year-to-date period, ISPY.L achieves a 42.50% return, which is significantly higher than BUGG.L's 20.91% return.

ISPY.L

• 1D: 0.80%
• 1M: 37.62%
• YTD: 42.50%
• 6M: 36.41%
• 1Y: 40.87%
• 3Y*: 26.67%
• 5Y*: 13.58%
• 10Y*: 18.22%

BUGG.L

• 1D: -1.00%
• 1M: 39.74%
• YTD: 20.91%
• 6M: 16.54%
• 1Y: 4.88%
• 3Y*: 13.18%
• 5Y*: —
• 10Y*: —

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

ISPY.L vs. BUGG.L - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
ISPY.L L&G Cyber Security UCITS ETF	42.50%	0.28%	19.68%	34.35%	-24.57%	-5.00%
BUGG.L Global X Cybersecurity UCITS ETF USD Accumulating	20.91%	-11.39%	11.20%	36.05%	-27.30%	-5.56%

Correlation

The correlation between ISPY.L and BUGG.L is 0.90, 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	0.90
Correlation (3Y) Calculated over the trailing 3-year period	0.89
Correlation (All Time) Calculated using the full available price history since Nov 19, 2021	0.91

The correlation between ISPY.L and BUGG.L has been stable across timeframes, ranging from 0.89 to 0.91 - a consistent structural relationship.

Return for Risk

ISPY.L vs. BUGG.L — Risk / Return Rank

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

ISPY.L

ISPY.L Risk / Return Rank: 43
ISPY.L Sharpe Ratio Rank: 47
ISPY.L Sortino Ratio Rank: 45
ISPY.L Omega Ratio Rank: 50
ISPY.L Calmar Ratio Rank: 41
ISPY.L Martin Ratio Rank: 34

BUGG.L

BUGG.L Risk / Return Rank: 11
BUGG.L Sharpe Ratio Rank: 11
BUGG.L Sortino Ratio Rank: 12
BUGG.L Omega Ratio Rank: 12
BUGG.L Calmar Ratio Rank: 10
BUGG.L Martin Ratio Rank: 10

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.

ISPY.L vs. BUGG.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for L&G Cyber Security UCITS ETF (ISPY.L) and Global X Cybersecurity UCITS ETF USD Accumulating (BUGG.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.

	ISPY.L	BUGG.L	Difference
Sharpe ratio: Return per unit of total volatility	1.61	0.16	+1.45
Sortino ratio: Return per unit of downside risk	2.20	0.43	+1.77
Omega ratio: Gain probability vs. loss probability	1.31	1.06	+0.25
Calmar ratio: Return relative to maximum drawdown	2.00	0.13	+1.87
Martin ratio: Return relative to average drawdown	5.12	0.29	+4.84
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

ISPY.L vs. BUGG.L - Sharpe Ratio Comparison

The current ISPY.L Sharpe Ratio is 1.61, which is higher than the BUGG.L Sharpe Ratio of 0.16. The chart below compares the historical Sharpe Ratios of ISPY.L and BUGG.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

	ISPY.L	BUGG.L	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.61	0.16	+1.45
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.57	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.81	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.74	0.08	+0.66

Drawdowns

ISPY.L vs. BUGG.L - Drawdown Comparison

The maximum ISPY.L drawdown since its inception was -31.77%, smaller than the maximum BUGG.L drawdown of -40.14%. Use the drawdown chart below to compare losses from any high point for ISPY.L and BUGG.L.

Drawdown Indicators

	ISPY.L	BUGG.L	Difference
Max Drawdown Largest peak-to-trough decline	-31.77%	-40.14%	+8.37%
Max Drawdown (1Y) Largest decline over 1 year	-20.33%	-36.02%	+15.69%
Max Drawdown (3Y) Largest decline over 3 years	-28.19%	-40.14%	+11.95%
Max Drawdown (5Y) Largest decline over 5 years	-31.77%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-31.77%	—	—
Current Drawdown Current decline from peak	0.00%	-5.14%	+5.14%
Average Drawdown Average peak-to-trough decline	-8.83%	-15.07%	+6.24%
Ulcer Index Depth and duration of drawdowns from previous peaks	7.96%	16.98%	-9.02%

Volatility

ISPY.L vs. BUGG.L - Volatility Comparison

The current volatility for L&G Cyber Security UCITS ETF (ISPY.L) is 10.15%, while Global X Cybersecurity UCITS ETF USD Accumulating (BUGG.L) has a volatility of 14.14%. This indicates that ISPY.L experiences smaller price fluctuations and is considered to be less risky than BUGG.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	ISPY.L	BUGG.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	10.15%	14.14%	-3.99%
Volatility (6M) Calculated over the trailing 6-month period	22.07%	26.36%	-4.29%
Volatility (1Y) Calculated over the trailing 1-year period	25.30%	29.68%	-4.38%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	23.89%	30.35%	-6.46%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	22.54%	30.35%	-7.81%

ISPY.L vs. BUGG.L - Expense Ratio Comparison

ISPY.L has a 0.69% expense ratio, which is higher than BUGG.L's 0.50% expense ratio.

Dividends

ISPY.L vs. BUGG.L - Dividend Comparison

Neither ISPY.L nor BUGG.L has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both ISPY.L and BUGG.L in my portfolio?

With a correlation of 0.90, ISPY.L and BUGG.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, ISPY.L or BUGG.L?

On fees, BUGG.L is cheaper at 0.50% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, ISPY.L or BUGG.L?

BUGG.L is cheaper with a 0.50% expense ratio, compared with 0.69% for ISPY.L.

What is the main difference between ISPY.L and BUGG.L?

ISPY.L is categorized as Cybersecurity, while BUGG.L is Technology Equities. ISPY.L tracks ISE Cyber Security UCITS Index, while BUGG.L tracks MSCI World/Information Tech NR USD. They also come from different issuers: L&G and Global X. Their fees differ too: 0.69% for ISPY.L and 0.50% for BUGG.L.