LCUK.L vs. FTAL.L

Last updated Jun 5, 2026

LCUK.L (Lyxor Core UK Equity All Cap (DR) UCITS ETF - Dist) and FTAL.L (SPDR FTSE UK All Share UCITS ETF) are both Europe Equities funds tracking the FTSE AllSh TR GBP, from Amundi and State Street respectively. Both are passively managed. Over the past 5 years, LCUK.L returned 10.01%/yr vs 10.22%/yr for FTAL.L. With a 0.96 correlation, they move nearly in lockstep. LCUK.L charges 0.04%/yr vs 0.20%/yr for FTAL.L.

Performance

LCUK.L vs. FTAL.L - Performance Comparison

The chart below illustrates the hypothetical performance of a £10,000 investment in Lyxor Core UK Equity All Cap (DR) UCITS ETF - Dist (LCUK.L) and SPDR FTSE UK All Share UCITS ETF (FTAL.L). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

As of year-to-date, both investments have demonstrated similar returns, with LCUK.L at 5.93% and FTAL.L at 5.93%.

LCUK.L

• 1D: 0.54%
• 1M: 1.88%
• YTD: 5.93%
• 6M: 5.05%
• 1Y: 16.53%
• 3Y*: 13.40%
• 5Y*: 10.01%
• 10Y*: —

FTAL.L

• 1D: 0.30%
• 1M: 2.15%
• YTD: 5.93%
• 6M: 8.27%
• 1Y: 20.36%
• 3Y*: 14.06%
• 5Y*: 10.22%
• 10Y*: 8.54%

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

LCUK.L vs. FTAL.L - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
LCUK.L Lyxor Core UK Equity All Cap (DR) UCITS ETF - Dist	5.93%	21.01%	9.05%	7.25%	2.15%	18.06%	-11.83%	18.73%	-0.85%
FTAL.L SPDR FTSE UK All Share UCITS ETF	5.93%	23.19%	9.03%	7.92%	0.55%	17.18%	-9.96%	19.29%	-1.47%

Correlation

The correlation between LCUK.L and FTAL.L is 0.92, 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	0.92
Correlation (3Y) Calculated over the trailing 3-year period	0.95
Correlation (5Y) Calculated over the trailing 5-year period	0.95
Correlation (All Time) Calculated using the full available price history since Mar 23, 2018	0.96

The correlation between LCUK.L and FTAL.L has been stable across timeframes, ranging from 0.92 to 0.96 - a consistent structural relationship.

LCUK.L vs. FTAL.L - Sectors Allocation Comparison

Sectors	LCUK.L	FTAL.L
Financial Services	24.2%	24.2%
Industrials	13.9%	14.5%
Consumer Defensive	13.7%	12.1%
Healthcare	13.2%	12.8%
Energy	11.1%	10.9%
Basic Materials	8.3%	8.4%
Consumer Cyclical	5.2%	5.6%
Utilities	5.1%	5.1%
Communication Services	3.0%	3.0%
Real Estate	1.4%	1.7%
Technology	0.9%	1.7%

Return for Risk

LCUK.L vs. FTAL.L — Risk / Return Rank

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

LCUK.L

LCUK.L Risk / Return Rank: 38
LCUK.L Sharpe Ratio Rank: 40
LCUK.L Sortino Ratio Rank: 38
LCUK.L Omega Ratio Rank: 40
LCUK.L Calmar Ratio Rank: 37
LCUK.L Martin Ratio Rank: 38

FTAL.L

FTAL.L Risk / Return Rank: 53
FTAL.L Sharpe Ratio Rank: 56
FTAL.L Sortino Ratio Rank: 57
FTAL.L Omega Ratio Rank: 59
FTAL.L Calmar Ratio Rank: 47
FTAL.L Martin Ratio Rank: 47

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.

LCUK.L vs. FTAL.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Lyxor Core UK Equity All Cap (DR) UCITS ETF - Dist (LCUK.L) and SPDR FTSE UK All Share UCITS ETF (FTAL.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.

	LCUK.L	FTAL.L	Difference
Sharpe ratio: Return per unit of total volatility	1.38	1.87	-0.49
Sortino ratio: Return per unit of downside risk	1.92	2.66	-0.74
Omega ratio: Gain probability vs. loss probability	1.25	1.35	-0.10
Calmar ratio: Return relative to maximum drawdown	1.80	2.26	-0.46
Martin ratio: Return relative to average drawdown	5.79	7.66	-1.87
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

LCUK.L vs. FTAL.L - Sharpe Ratio Comparison

The current LCUK.L Sharpe Ratio is 1.38, which is comparable to the FTAL.L Sharpe Ratio of 1.87. The chart below compares the historical Sharpe Ratios of LCUK.L and FTAL.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

	LCUK.L	FTAL.L	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.38	1.87	-0.49
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.77	0.81	-0.03
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.58	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.51	0.56	-0.06

Drawdowns

LCUK.L vs. FTAL.L - Drawdown Comparison

The maximum LCUK.L drawdown since its inception was -35.54%, roughly equal to the maximum FTAL.L drawdown of -35.26%. Use the drawdown chart below to compare losses from any high point for LCUK.L and FTAL.L.

Drawdown Indicators

	LCUK.L	FTAL.L	Difference
Max Drawdown Largest peak-to-trough decline	-35.54%	-35.26%	-0.28%
Max Drawdown (1Y) Largest decline over 1 year	-9.13%	-8.95%	-0.18%
Max Drawdown (3Y) Largest decline over 3 years	-12.65%	-13.17%	+0.52%
Max Drawdown (5Y) Largest decline over 5 years	-12.65%	-13.17%	+0.52%
Max Drawdown (10Y) Largest decline over 10 years	—	-35.26%	—
Current Drawdown Current decline from peak	-3.98%	-3.78%	-0.20%
Average Drawdown Average peak-to-trough decline	-4.97%	-4.31%	-0.66%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.85%	2.65%	+0.20%

Volatility

LCUK.L vs. FTAL.L - Volatility Comparison

The current volatility for Lyxor Core UK Equity All Cap (DR) UCITS ETF - Dist (LCUK.L) is 3.76%, while SPDR FTSE UK All Share UCITS ETF (FTAL.L) has a volatility of 4.08%. This indicates that LCUK.L experiences smaller price fluctuations and is considered to be less risky than FTAL.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	LCUK.L	FTAL.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.76%	4.08%	-0.32%
Volatility (6M) Calculated over the trailing 6-month period	10.20%	9.45%	+0.75%
Volatility (1Y) Calculated over the trailing 1-year period	11.92%	10.84%	+1.08%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	12.97%	12.68%	+0.29%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.69%	14.75%	+0.94%

LCUK.L vs. FTAL.L - Expense Ratio Comparison

LCUK.L has a 0.04% expense ratio, which is lower than FTAL.L's 0.20% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

LCUK.L vs. FTAL.L - Dividend Comparison

Neither LCUK.L nor FTAL.L has paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019
FTAL.L SPDR FTSE UK All Share UCITS ETF	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
LCUK.L Lyxor Core UK Equity All Cap (DR) UCITS ETF - Dist	0.00%	0.00%	3.68%	3.05%	3.94%	3.86%	3.00%	3.48%

Frequently Asked Questions

Can I hold both LCUK.L and FTAL.L in my portfolio?

With a correlation of 0.92, LCUK.L and FTAL.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, LCUK.L or FTAL.L?

On fees, LCUK.L is cheaper at 0.04% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, LCUK.L or FTAL.L?

LCUK.L is cheaper with a 0.04% expense ratio, compared with 0.20% for FTAL.L.

What is the main difference between LCUK.L and FTAL.L?

Both ETFs track FTSE AllSh TR GBP. They also come from different issuers: Amundi and State Street. Their fees differ too: 0.04% for LCUK.L and 0.20% for FTAL.L.