LCPE.L vs. UKDV.L

Last updated Jul 18, 2026

LCPE.L (Ossiam Shiller Barclays Cape Europe Sector Value TR UCITS) and UKDV.L (SPDR S&P UK Dividend Aristocrats UCITS ETF (Dist)) are both Europe Equities funds - LCPE.L tracks the MSCI Europe NR EUR while UKDV.L tracks the FTSE AllSh TR GBP. Both are passively managed. Over the past 10 years, LCPE.L returned 9.06%/yr vs 4.84%/yr for UKDV.L. A 0.69 correlation means they provide meaningful diversification when combined. LCPE.L charges 0.65%/yr vs 0.30%/yr for UKDV.L.

Performance

LCPE.L vs. UKDV.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 SPDR S&P UK Dividend Aristocrats UCITS ETF (Dist) (UKDV.L). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

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

Returns By Period

The year-to-date returns for both investments are quite close, with LCPE.L having a 13.89% return and UKDV.L slightly higher at 14.21%. Over the past 10 years, LCPE.L has outperformed UKDV.L with an annualized return of 9.06%, while UKDV.L has yielded a comparatively lower 4.84% annualized return.

LCPE.L

• 1D: 0.32%
• 1M: -0.17%
• 6M: 12.47%
• YTD: 13.89%
• 1Y: 27.61%
• 3Y*: 11.70%
• 5Y*: 8.99%
• 10Y*: 9.06%

UKDV.L

• 1D: 0.89%
• 1M: 7.56%
• 6M: 10.02%
• YTD: 14.21%
• 1Y: 20.90%
• 3Y*: 15.87%
• 5Y*: 7.90%
• 10Y*: 4.84%

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

LCPE.L vs. UKDV.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	13.89%	18.27%	-2.33%	10.46%	-0.17%	17.51%	8.55%	16.87%	-6.17%	9.67%
UKDV.L SPDR S&P UK Dividend Aristocrats UCITS ETF (Dist)	14.21%	16.89%	10.35%	5.75%	-8.09%	14.13%	-17.26%	32.17%	-15.39%	3.71%

Correlation

The correlation between LCPE.L and UKDV.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	0.59
Correlation (5Y) Calculated over the trailing 5-year period	0.66
Correlation (10Y) Calculated over the trailing 10-year period	0.66
Correlation (All Time) Calculated using the full available price history since Feb 20, 2015	0.69

Over the past year, the correlation between LCPE.L and UKDV.L has dropped to 0.43 - well below their long-term average of 0.69, suggesting their price drivers have been diverging.

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

Sectors	LCPE.L	UKDV.L
Consumer Defensive	32.8%	10.9%
Healthcare	32.6%	8.2%
Basic Materials	32.3%	3.9%
Consumer Cyclical	1.9%	6.8%
Industrials	0.2%	23.7%
Technology	0.2%	1.2%
Communication Services	0.0%	3.0%
Energy	0.0%	-
Real Estate	0.0%	13.6%
Financial Services	-	23.8%
Utilities	-	4.9%

Return for Risk

LCPE.L vs. UKDV.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: 88
LCPE.L Sharpe Ratio Rank: 90
LCPE.L Sortino Ratio Rank: 90
LCPE.L Omega Ratio Rank: 88
LCPE.L Calmar Ratio Rank: 89
LCPE.L Martin Ratio Rank: 83

UKDV.L

UKDV.L Risk / Return Rank: 53
UKDV.L Sharpe Ratio Rank: 55
UKDV.L Sortino Ratio Rank: 56
UKDV.L Omega Ratio Rank: 53
UKDV.L Calmar Ratio Rank: 49
UKDV.L Martin Ratio Rank: 51

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. UKDV.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 SPDR S&P UK Dividend Aristocrats UCITS ETF (Dist) (UKDV.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.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	LCPE.L	UKDV.L	Difference
Sharpe ratio: Return per unit of total volatility	2.39	1.49	+0.90
Sortino ratio: Return per unit of downside risk	3.38	2.14	+1.24
Omega ratio: Gain probability vs. loss probability	1.42	1.27	+0.16
Calmar ratio: Return relative to maximum drawdown	4.07	1.98	+2.08
Martin ratio: Return relative to average drawdown	12.41	6.70	+5.72

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

The current LCPE.L Sharpe Ratio is 2.39, which is higher than the UKDV.L Sharpe Ratio of 1.49. The chart below compares the historical Sharpe Ratios of LCPE.L and UKDV.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.

Drawdowns

LCPE.L vs. UKDV.L - Drawdown Comparison

The maximum LCPE.L drawdown since its inception was -27.75%, smaller than the maximum UKDV.L drawdown of -38.19%. Use the drawdown chart below to compare losses from any high point for LCPE.L and UKDV.L.

Drawdown Indicators

	LCPE.L	UKDV.L	Difference
Max Drawdown Largest peak-to-trough decline	-27.75%	-38.19%	+10.44%
Max Drawdown (1Y) Largest decline over 1 year	-6.66%	-10.48%	+3.82%
Max Drawdown (3Y) Largest decline over 3 years	-12.39%	-13.06%	+0.67%
Max Drawdown (5Y) Largest decline over 5 years	-12.39%	-18.56%	+6.17%
Max Drawdown (10Y) Largest decline over 10 years	-27.75%	-38.19%	+10.44%
Current Drawdown Current decline from peak	-2.97%	0.00%	-2.97%
Average Drawdown Average peak-to-trough decline	-3.94%	-7.61%	+3.67%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.19%	3.11%	-0.92%

Volatility

LCPE.L vs. UKDV.L - Volatility Comparison

The current volatility for Ossiam Shiller Barclays Cape Europe Sector Value TR UCITS (LCPE.L) is 3.63%, while SPDR S&P UK Dividend Aristocrats UCITS ETF (Dist) (UKDV.L) has a volatility of 3.90%. This indicates that LCPE.L experiences smaller price fluctuations and is considered to be less risky than UKDV.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	LCPE.L	UKDV.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.63%	3.90%	-0.27%
Volatility (6M) Calculated over the trailing 6-month period	8.67%	12.19%	-3.52%
Volatility (1Y) Calculated over the trailing 1-year period	11.33%	14.03%	-2.70%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	12.90%	14.27%	-1.37%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	14.18%	15.61%	-1.43%

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

LCPE.L has a 0.65% expense ratio, which is higher than UKDV.L's 0.30% expense ratio.

Dividends

LCPE.L vs. UKDV.L - Dividend Comparison

LCPE.L has not paid dividends to shareholders, while UKDV.L's dividend yield for the trailing twelve months is around 3.20%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
LCPE.L Ossiam Shiller Barclays Cape Europe Sector Value TR UCITS	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
UKDV.L SPDR S&P UK Dividend Aristocrats UCITS ETF (Dist)	3.20%	3.65%	3.40%	3.65%	4.54%	3.64%	3.27%	4.05%	4.67%	3.78%	4.28%	3.99%

Frequently Asked Questions

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

LCPE.L and UKDV.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 UKDV.L?

On fees, UKDV.L is cheaper at 0.30% per year. The better choice depends on whether you care most about return, fees, risk, or income.

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

UKDV.L is cheaper with a 0.30% expense ratio, compared with 0.65% for LCPE.L.

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

LCPE.L tracks MSCI Europe NR EUR, while UKDV.L tracks FTSE AllSh TR GBP. They also come from different issuers: Natixis and State Street. Their fees differ too: 0.65% for LCPE.L and 0.30% for UKDV.L.