L100.L vs. USD=X

Last updated Jun 9, 2026

L100.L (Lyxor FTSE 100 UCITS ETF - Acc) is Europe Equities fund tracking the FTSE AllSh TR GBP, while USD=X (USD Cash) is a currency. Over the past 10 years, L100.L returned 9.29%/yr vs 0.67%/yr for USD=X. At a correlation of -0.03, they often move in opposite directions.

Performance

L100.L vs. USD=X - Performance Comparison

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

Different Trading Currencies

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

Returns By Period

In the year-to-date period, L100.L achieves a 6.18% return, which is significantly higher than USD=X's 0.97% return. Over the past 10 years, L100.L has outperformed USD=X with an annualized return of 9.29%, while USD=X has yielded a comparatively lower 0.67% 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%

USD=X

• 1D: 0.00%
• 1M: 2.16%
• YTD: 0.97%
• 6M: -0.17%
• 1Y: 1.45%
• 3Y*: -1.96%
• 5Y*: 1.22%
• 10Y*: 0.67%

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

L100.L vs. USD=X - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
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%
USD=X USD Cash	0.97%	-7.12%	1.75%	-5.00%	11.89%	0.95%	-2.94%	-3.80%	5.93%	-8.65%

Correlation

The correlation between L100.L and USD=X is -0.04, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	-0.04
Correlation (3Y) Calculated over the trailing 3-year period	-0.05
Correlation (5Y) Calculated over the trailing 5-year period	-0.12
Correlation (10Y) Calculated over the trailing 10-year period	0.01
Correlation (All Time) Calculated using the full available price history since Jan 3, 2008	-0.03

The correlation between L100.L and USD=X shifts across timeframes, from -0.12 (5 years) to 0.01 (10 years), reflecting how their relationship changes across market environments.

Return for Risk

L100.L vs. USD=X — 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: 60
L100.L Sharpe Ratio Rank: 64
L100.L Sortino Ratio Rank: 65
L100.L Omega Ratio Rank: 67
L100.L Calmar Ratio Rank: 52
L100.L Martin Ratio Rank: 52

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. USD=X - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Lyxor FTSE 100 UCITS ETF - Acc (L100.L) and USD Cash (USD=X). 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.L	USD=X	Difference
Sharpe ratio: Return per unit of total volatility	1.92	0.22	+1.69
Sortino ratio: Return per unit of downside risk	2.67	0.36	+2.32
Omega ratio: Gain probability vs. loss probability	1.36	1.04	+0.32
Calmar ratio: Return relative to maximum drawdown	2.33	0.26	+2.07
Martin ratio: Return relative to average drawdown	7.97	0.58	+7.39
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. USD=X - Sharpe Ratio Comparison

The current L100.L Sharpe Ratio is 1.92, which is higher than the USD=X Sharpe Ratio of 0.22. The chart below compares the historical Sharpe Ratios of L100.L and USD=X, 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

	L100.L	USD=X	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.92	0.22	+1.69
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.92	0.14	+0.78
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.62	0.07	+0.55
Sharpe Ratio (All Time) Calculated using the full available price history	0.34	0.23	+0.11

Drawdowns

L100.L vs. USD=X - Drawdown Comparison

The maximum L100.L drawdown since its inception was -43.92%, which is greater than USD=X's maximum drawdown of -22.85%. Use the drawdown chart below to compare losses from any high point for L100.L and USD=X.

Drawdown Indicators

	L100.L	USD=X	Difference
Max Drawdown Largest peak-to-trough decline	-43.92%	-22.85%	-21.07%
Max Drawdown (1Y) Largest decline over 1 year	-9.00%	-5.98%	-3.02%
Max Drawdown (3Y) Largest decline over 3 years	-13.01%	-12.79%	-0.22%
Max Drawdown (5Y) Largest decline over 5 years	-13.01%	-22.85%	+9.84%
Max Drawdown (10Y) Largest decline over 10 years	-34.64%	-22.85%	-11.79%
Current Drawdown Current decline from peak	-3.81%	-19.93%	+16.12%
Average Drawdown Average peak-to-trough decline	-7.19%	-11.07%	+3.88%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.63%	2.93%	-0.30%

Volatility

L100.L vs. USD=X - Volatility Comparison

Lyxor FTSE 100 UCITS ETF - Acc (L100.L) has a higher volatility of 2.91% compared to USD Cash (USD=X) at 1.79%. This indicates that L100.L's price experiences larger fluctuations and is considered to be riskier than USD=X based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	L100.L	USD=X	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.91%	1.79%	+1.12%
Volatility (6M) Calculated over the trailing 6-month period	9.53%	5.23%	+4.30%
Volatility (1Y) Calculated over the trailing 1-year period	10.96%	5.76%	+5.20%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	12.82%	7.12%	+5.70%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.08%	7.91%	+7.17%

Frequently Asked Questions

Can I hold both L100.L and USD=X in my portfolio?

L100.L and USD=X have a correlation of -0.04, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.