LCPE.L vs. SPOL.L

Last updated Jun 4, 2026

LCPE.L (Ossiam Shiller Barclays Cape Europe Sector Value TR UCITS) and SPOL.L (iShares MSCI Poland UCITS ETF USD (Acc)) are both Europe Equities funds - LCPE.L tracks the MSCI Europe NR EUR while SPOL.L tracks the MSCI Poland NR EUR. Both are passively managed. Over the past 10 years, LCPE.L returned 10.12%/yr vs 10.37%/yr for SPOL.L. At a 0.29 correlation, their price movements are largely independent. LCPE.L charges 0.65%/yr vs 0.74%/yr for SPOL.L.

Performance

LCPE.L vs. SPOL.L - Performance Comparison

The chart below illustrates the hypothetical performance of a £10,000 investment in Ossiam Shiller Barclays Cape Europe Sector Value TR UCITS (LCPE.L) and iShares MSCI Poland UCITS ETF USD (Acc) (SPOL.L). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, LCPE.L achieves a 13.75% return, which is significantly lower than SPOL.L's 14.98% return. Both investments have delivered pretty close results over the past 10 years, with LCPE.L having a 10.12% annualized return and SPOL.L not far ahead at 10.37%.

LCPE.L

• 1D: -0.59%
• 1M: 2.51%
• YTD: 13.75%
• 6M: 14.34%
• 1Y: 28.26%
• 3Y*: 12.14%
• 5Y*: 9.55%
• 10Y*: 10.12%

SPOL.L

• 1D: 0.05%
• 1M: 6.06%
• YTD: 14.98%
• 6M: 24.72%
• 1Y: 44.16%
• 3Y*: 30.21%
• 5Y*: 14.86%
• 10Y*: 10.37%

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

LCPE.L vs. SPOL.L - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
LCPE.L Ossiam Shiller Barclays Cape Europe Sector Value TR UCITS	13.75%	18.88%	-2.83%	10.70%	0.29%	16.28%	8.38%	12.94%	-2.26%	9.54%
SPOL.L iShares MSCI Poland UCITS ETF USD (Acc)	14.98%	61.27%	-4.98%	41.52%	-17.96%	8.30%	-14.19%	-9.68%	-7.69%	40.45%

Correlation

The correlation between LCPE.L and SPOL.L is 0.43, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.43
Correlation (3Y) Calculated over the trailing 3-year period	0.35
Correlation (5Y) Calculated over the trailing 5-year period	0.31
Correlation (10Y) Calculated over the trailing 10-year period	0.28
Correlation (All Time) Calculated using the full available price history since Feb 17, 2015	0.29

The correlation between LCPE.L and SPOL.L shifts across timeframes, from 0.28 (10 years) to 0.43 (1 year), reflecting how their relationship changes across market environments.

LCPE.L vs. SPOL.L - Sectors Allocation Comparison

Sectors	LCPE.L	SPOL.L
Consumer Defensive	32.8%	5.4%
Healthcare	32.6%	-
Basic Materials	32.3%	9.8%
Consumer Cyclical	1.9%	10.9%
Industrials	0.2%	1.9%
Technology	0.2%	2.2%
Communication Services	0.0%	3.2%
Energy	0.0%	16.7%
Real Estate	0.0%	-
Financial Services	-	48.0%
Utilities	-	2.0%

Return for Risk

LCPE.L vs. SPOL.L — Risk / Return Rank

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

LCPE.L

LCPE.L Risk / Return Rank: 77
LCPE.L Sharpe Ratio Rank: 77
LCPE.L Sortino Ratio Rank: 80
LCPE.L Omega Ratio Rank: 74
LCPE.L Calmar Ratio Rank: 81
LCPE.L Martin Ratio Rank: 74

SPOL.L

SPOL.L Risk / Return Rank: 62
SPOL.L Sharpe Ratio Rank: 57
SPOL.L Sortino Ratio Rank: 55
SPOL.L Omega Ratio Rank: 50
SPOL.L Calmar Ratio Rank: 85
SPOL.L Martin Ratio Rank: 62

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.

LCPE.L vs. SPOL.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Ossiam Shiller Barclays Cape Europe Sector Value TR UCITS (LCPE.L) and iShares MSCI Poland UCITS ETF USD (Acc) (SPOL.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.

	LCPE.L	SPOL.L	Difference
Sharpe ratio: Return per unit of total volatility	2.49	1.90	+0.59
Sortino ratio: Return per unit of downside risk	3.56	2.61	+0.94
Omega ratio: Gain probability vs. loss probability	1.44	1.31	+0.13
Calmar ratio: Return relative to maximum drawdown	4.23	4.62	-0.40
Martin ratio: Return relative to average drawdown	14.02	11.04	+2.98
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

LCPE.L vs. SPOL.L - Sharpe Ratio Comparison

The current LCPE.L Sharpe Ratio is 2.49, which is higher than the SPOL.L Sharpe Ratio of 1.90. The chart below compares the historical Sharpe Ratios of LCPE.L and SPOL.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

	LCPE.L	SPOL.L	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.49	1.90	+0.59
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	1.03	0.55	+0.48
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	1.19	0.41	+0.79
Sharpe Ratio (All Time) Calculated using the full available price history	0.98	0.16	+0.82

Drawdowns

LCPE.L vs. SPOL.L - Drawdown Comparison

The maximum LCPE.L drawdown since its inception was -27.05%, smaller than the maximum SPOL.L drawdown of -56.64%. Use the drawdown chart below to compare losses from any high point for LCPE.L and SPOL.L.

Drawdown Indicators

	LCPE.L	SPOL.L	Difference
Max Drawdown Largest peak-to-trough decline	-27.05%	-56.64%	+29.59%
Max Drawdown (1Y) Largest decline over 1 year	-6.66%	-9.51%	+2.85%
Max Drawdown (3Y) Largest decline over 3 years	-12.39%	-19.47%	+7.08%
Max Drawdown (5Y) Largest decline over 5 years	-12.39%	-46.27%	+33.88%
Max Drawdown (10Y) Largest decline over 10 years	-27.05%	-56.64%	+29.59%
Current Drawdown Current decline from peak	-3.09%	-1.16%	-1.93%
Average Drawdown Average peak-to-trough decline	-3.52%	-21.80%	+18.28%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.01%	3.99%	-1.98%

Volatility

LCPE.L vs. SPOL.L - Volatility Comparison

The current volatility for Ossiam Shiller Barclays Cape Europe Sector Value TR UCITS (LCPE.L) is 3.81%, while iShares MSCI Poland UCITS ETF USD (Acc) (SPOL.L) has a volatility of 7.20%. This indicates that LCPE.L experiences smaller price fluctuations and is considered to be less risky than SPOL.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	LCPE.L	SPOL.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.81%	7.20%	-3.39%
Volatility (6M) Calculated over the trailing 6-month period	8.50%	17.30%	-8.80%
Volatility (1Y) Calculated over the trailing 1-year period	11.31%	23.18%	-11.87%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.75%	27.10%	-9.35%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.61%	25.42%	-4.81%

LCPE.L vs. SPOL.L - Expense Ratio Comparison

LCPE.L has a 0.65% expense ratio, which is lower than SPOL.L's 0.74% expense ratio.

Dividends

LCPE.L vs. SPOL.L - Dividend Comparison

Neither LCPE.L nor SPOL.L has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both LCPE.L and SPOL.L in my portfolio?

LCPE.L and SPOL.L have a correlation of 0.43, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, LCPE.L or SPOL.L?

On fees, LCPE.L is cheaper at 0.65% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, LCPE.L or SPOL.L?

LCPE.L is cheaper with a 0.65% expense ratio, compared with 0.74% for SPOL.L.

What is the main difference between LCPE.L and SPOL.L?

LCPE.L tracks MSCI Europe NR EUR, while SPOL.L tracks MSCI Poland NR EUR. They also come from different issuers: Natixis and iShares. Their fees differ too: 0.65% for LCPE.L and 0.74% for SPOL.L.