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L100.L vs. EWP
Performance
Return for Risk
Drawdowns
Volatility
Dividends

L100.L vs. EWP

Last updated Jun 9, 2026

L100.L (Lyxor FTSE 100 UCITS ETF - Acc) and EWP (iShares MSCI Spain ETF) are both Europe Equities funds - L100.L tracks the FTSE AllSh TR GBP while EWP tracks the MSCI Spain Index. Both are passively managed. Over the past 10 years, L100.L returned 9.29%/yr vs 12.24%/yr for EWP. A 0.52 correlation means they provide meaningful diversification when combined. L100.L charges 0.14%/yr vs 0.50%/yr for EWP.

Performance

L100.L vs. EWP - Performance Comparison

The chart below illustrates the hypothetical performance of a £10,000 investment in Lyxor FTSE 100 UCITS ETF - Acc (L100.L) and iShares MSCI Spain ETF (EWP). The values are adjusted to include any dividend payments, if applicable.

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Different Trading Currencies

L100.L is traded in GBp, while EWP is traded in USD. To make them comparable, the EWP values have been converted to GBp using the latest available exchange rates.

Returns By Period

The year-to-date returns for both stocks are quite close, with L100.L having a 6.18% return and EWP slightly lower at 6.12%. Over the past 10 years, L100.L has underperformed EWP with an annualized return of 9.29%, while EWP has yielded a comparatively higher 12.24% annualized return.

L100.L

1D
-0.01%
1M
1.68%
YTD
6.18%
6M
9.31%
1Y
21.05%
3Y*
15.00%
5Y*
11.77%
10Y*
9.29%

EWP

1D
-0.26%
1M
1.15%
YTD
6.12%
6M
9.64%
1Y
34.95%
3Y*
28.29%
5Y*
18.07%
10Y*
12.24%
*Multi-year figures are annualized to reflect compound growth (CAGR)

L100.L vs. EWP - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
L100.L
Lyxor FTSE 100 UCITS ETF - Acc		6.18%25.82%9.29%7.37%4.86%17.92%-11.79%17.40%-9.14%12.09%
EWP
iShares MSCI Spain ETF		6.12%65.34%7.55%23.75%6.10%1.20%-6.76%7.67%-10.30%16.00%

Correlation

The correlation between L100.L and EWP is 0.57, 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

0.57

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

0.50

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

0.50

Correlation (10Y)
Calculated over the trailing 10-year period

0.51

Correlation (All Time)
Calculated using the full available price history since Jan 3, 2008

0.52

The correlation between L100.L and EWP has been stable across timeframes, ranging from 0.50 to 0.57 - a consistent structural relationship.

L100.L vs. EWP - Sectors Allocation Comparison

Sectors
L100.L
EWP

Financial Services

24.5%
41.4%

Consumer Defensive

13.9%

-

Industrials

13.7%
16.1%

Healthcare

13.6%
1.3%

Energy

11.7%
5.3%

Basic Materials

8.5%

-

Utilities

5.3%
21.2%

Consumer Cyclical

4.7%
4.0%

Communication Services

2.6%
2.9%

Real Estate

0.9%
2.9%

Technology

0.8%
4.9%

Financial Services

L100.L
24.5%
EWP
41.4%

Consumer Defensive

L100.L
13.9%
EWP

-

Industrials

L100.L
13.7%
EWP
16.1%

Healthcare

L100.L
13.6%
EWP
1.3%

Energy

L100.L
11.7%
EWP
5.3%

Basic Materials

L100.L
8.5%
EWP

-

Utilities

L100.L
5.3%
EWP
21.2%

Consumer Cyclical

L100.L
4.7%
EWP
4.0%

Communication Services

L100.L
2.6%
EWP
2.9%

Real Estate

L100.L
0.9%
EWP
2.9%

Technology

L100.L
0.8%
EWP
4.9%

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

Lyxor FTSE 100 UCITS ETF - Acc

iShares MSCI Spain ETF

Often compared with L100.L:
L100.L vs. S250.LL100.L vs. SPYL100.L vs. VUKE.DEL100.L vs. HUKX.LL100.L vs. MIVO.LL100.L vs. LCPE.LL100.L vs. 500G.L
Often compared with EWP:
EWP vs. EWGEWP vs. EWIEWP vs. EPOLEWP vs. EIRLEWP vs. VOOEWP vs. FEZEWP vs. EWQ

Return for Risk

L100.L vs. EWP — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
L100.L
L100.L Risk / Return Rank: 6060
Overall Rank
L100.L Sharpe Ratio Rank: 6464
Sharpe Ratio Rank
L100.L Sortino Ratio Rank: 6565
Sortino Ratio Rank
L100.L Omega Ratio Rank: 6767
Omega Ratio Rank
L100.L Calmar Ratio Rank: 5252
Calmar Ratio Rank
L100.L Martin Ratio Rank: 5252
Martin Ratio Rank
EWP
EWP Risk / Return Rank: 5959
Overall Rank
EWP Sharpe Ratio Rank: 5858
Sharpe Ratio Rank
EWP Sortino Ratio Rank: 5656
Sortino Ratio Rank
EWP Omega Ratio Rank: 5555
Omega Ratio Rank
EWP Calmar Ratio Rank: 6565
Calmar Ratio Rank
EWP Martin Ratio Rank: 6363
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.

L100.L vs. EWP - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Lyxor FTSE 100 UCITS ETF - Acc (L100.L) and iShares MSCI Spain ETF (EWP). 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.

L100.LEWPDifference
Sharpe ratioReturn per unit of total volatility
1.92
2.13

-0.21

Sortino ratioReturn per unit of downside risk
2.67
2.83

-0.16

Omega ratioGain probability vs. loss probability

1.36

1.37

-0.01

Calmar ratioReturn relative to maximum drawdown

2.33

3.43

-1.10

Martin ratioReturn relative to average drawdown

7.97

12.55

-4.58

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

L100.L vs. EWP - Sharpe Ratio Comparison

The current L100.L Sharpe Ratio is 1.92, which is comparable to the EWP Sharpe Ratio of 2.13. The chart below compares the historical Sharpe Ratios of L100.L and EWP, 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

L100.LEWPDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

1.92

2.13

-0.21

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.92

1.06

-0.14

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.62

0.61

0.00

Sharpe Ratio (All Time)

Calculated using the full available price history

0.34

0.24

+0.10

Drawdowns

L100.L vs. EWP - Drawdown Comparison

The maximum L100.L drawdown since its inception was -43.92%, smaller than the maximum EWP drawdown of -51.00%. Use the drawdown chart below to compare losses from any high point for L100.L and EWP.

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Drawdown Indicators

L100.LEWPDifference

Max Drawdown

Largest peak-to-trough decline

-43.92%

-51.00%

+7.08%

Max Drawdown (1Y)

Largest decline over 1 year

-9.00%

-10.24%

+1.24%

Max Drawdown (3Y)

Largest decline over 3 years

-13.01%

-10.75%

-2.26%

Max Drawdown (5Y)

Largest decline over 5 years

-13.01%

-18.95%

+5.94%

Max Drawdown (10Y)

Largest decline over 10 years

-34.64%

-39.42%

+4.78%

Current Drawdown

Current decline from peak

-3.81%

-1.71%

-2.10%

Average Drawdown

Average peak-to-trough decline

-7.19%

-13.12%

+5.93%

Ulcer Index

Depth and duration of drawdowns from previous peaks

2.63%

2.79%

-0.16%

Volatility

L100.L vs. EWP - Volatility Comparison

The current volatility for Lyxor FTSE 100 UCITS ETF - Acc (L100.L) is 2.91%, while iShares MSCI Spain ETF (EWP) has a volatility of 4.18%. This indicates that L100.L experiences smaller price fluctuations and is considered to be less risky than EWP based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

L100.LEWPDifference

Volatility (1M)

Calculated over the trailing 1-month period

2.91%

4.18%

-1.27%

Volatility (6M)

Calculated over the trailing 6-month period

9.53%

13.81%

-4.28%

Volatility (1Y)

Calculated over the trailing 1-year period

10.96%

16.55%

-5.59%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

12.82%

17.19%

-4.37%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

15.08%

20.12%

-5.04%

L100.L vs. EWP - Expense Ratio Comparison

L100.L has a 0.14% expense ratio, which is lower than EWP's 0.50% expense ratio.

Dividends

L100.L vs. EWP - Dividend Comparison

L100.L has not paid dividends to shareholders, while EWP's dividend yield for the trailing twelve months is around 2.16%.

PositionTTM20252024202320222021202020192018201720162015
EWP
iShares MSCI Spain ETF		2.16%2.27%4.35%2.70%3.07%3.29%2.56%3.72%3.69%2.72%4.65%3.85%
L100.L
Lyxor FTSE 100 UCITS ETF - Acc		0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%

Frequently Asked Questions

L100.L and EWP have a correlation of 0.57, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

On fees, L100.L is cheaper at 0.14% per year. The better choice depends on whether you care most about return, fees, risk, or income.

L100.L is cheaper with a 0.14% expense ratio, compared with 0.50% for EWP.

L100.L tracks FTSE AllSh TR GBP, while EWP tracks MSCI Spain Index. They also come from different issuers: Amundi and iShares. Their fees differ too: 0.14% for L100.L and 0.50% for EWP.

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