LDEM.L vs. ETRA.L

Last updated Jul 16, 2026

LDEM.L (L&G Emerging Markets Quality Dividends Equal Weight ETF USD Dis) and ETRA.L (L&G New Energy Commodities UCITS ETF USD Acc) are both exchange-traded funds - LDEM.L is a Emerging Markets Equities fund tracking the L&G Emerging Markets Quality Dividends Equal Weight ETF USD Dis, while ETRA.L is a Commodities fund tracking the Solactive Energy Transition Commodity Total Return Index. Both are passively managed. Over the past year, LDEM.L returned 23.20% vs 28.22% for ETRA.L. At a 0.39 correlation, their price movements are largely independent. LDEM.L charges 0.45%/yr vs 0.65%/yr for ETRA.L.

Performance

LDEM.L vs. ETRA.L - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in L&G Emerging Markets Quality Dividends Equal Weight ETF USD Dis (LDEM.L) and L&G New Energy Commodities UCITS ETF USD Acc (ETRA.L). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

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

Returns By Period

In the year-to-date period, LDEM.L achieves a 11.68% return, which is significantly higher than ETRA.L's 8.68% return.

LDEM.L

• 1D: -1.32%
• 1M: -4.20%
• 6M: 8.15%
• YTD: 11.68%
• 1Y: 23.20%
• 3Y*: 17.43%
• 5Y*: 9.59%
• 10Y*: —

ETRA.L

• 1D: 0.00%
• 1M: -1.86%
• 6M: 1.31%
• YTD: 8.68%
• 1Y: 28.22%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

LDEM.L vs. ETRA.L - Yearly Performance Comparison

	2026 (YTD)	2025	2024
LDEM.L L&G Emerging Markets Quality Dividends Equal Weight ETF USD Dis	11.68%	25.93%	6.49%
ETRA.L L&G New Energy Commodities UCITS ETF USD Acc	8.68%	28.38%	-20.55%

Correlation

The correlation between LDEM.L and ETRA.L is 0.35, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.35
Correlation (All Time) Calculated using the full available price history since Apr 15, 2024	0.39

Return for Risk

LDEM.L vs. ETRA.L — Risk / Return Rank

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

LDEM.L

LDEM.L Risk / Return Rank: 62
LDEM.L Sharpe Ratio Rank: 61
LDEM.L Sortino Ratio Rank: 62
LDEM.L Omega Ratio Rank: 58
LDEM.L Calmar Ratio Rank: 66
LDEM.L Martin Ratio Rank: 61

ETRA.L

ETRA.L Risk / Return Rank: 35
ETRA.L Sharpe Ratio Rank: 22
ETRA.L Sortino Ratio Rank: 27
ETRA.L Omega Ratio Rank: 78
ETRA.L Calmar Ratio Rank: 27
ETRA.L Martin Ratio Rank: 21

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.

LDEM.L vs. ETRA.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for L&G Emerging Markets Quality Dividends Equal Weight ETF USD Dis (LDEM.L) and L&G New Energy Commodities UCITS ETF USD Acc (ETRA.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.

	LDEM.L	ETRA.L	Difference
Sharpe ratio: Return per unit of total volatility	1.65	0.64	+1.01
Sortino ratio: Return per unit of downside risk	2.35	1.26	+1.08
Omega ratio: Gain probability vs. loss probability	1.29	1.35	-0.06
Calmar ratio: Return relative to maximum drawdown	2.67	1.11	+1.56
Martin ratio: Return relative to average drawdown	8.52	2.16	+6.35

LDEM.L vs. ETRA.L - Sharpe Ratio Comparison

The current LDEM.L Sharpe Ratio is 1.65, which is higher than the ETRA.L Sharpe Ratio of 0.64. The chart below compares the historical Sharpe Ratios of LDEM.L and ETRA.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

LDEM.L vs. ETRA.L - Drawdown Comparison

The maximum LDEM.L drawdown since its inception was -25.82%, roughly equal to the maximum ETRA.L drawdown of -25.40%. Use the drawdown chart below to compare losses from any high point for LDEM.L and ETRA.L.

Drawdown Indicators

	LDEM.L	ETRA.L	Difference
Max Drawdown Largest peak-to-trough decline	-25.82%	-25.40%	-0.42%
Max Drawdown (1Y) Largest decline over 1 year	-8.70%	-25.40%	+16.70%
Max Drawdown (3Y) Largest decline over 3 years	-17.16%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-25.82%	—	—
Current Drawdown Current decline from peak	-4.73%	-10.63%	+5.90%
Average Drawdown Average peak-to-trough decline	-6.44%	-16.20%	+9.76%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.73%	13.05%	-10.32%

Volatility

LDEM.L vs. ETRA.L - Volatility Comparison

L&G Emerging Markets Quality Dividends Equal Weight ETF USD Dis (LDEM.L) and L&G New Energy Commodities UCITS ETF USD Acc (ETRA.L) have volatilities of 4.70% and 4.78%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	LDEM.L	ETRA.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.70%	4.78%	-0.08%
Volatility (6M) Calculated over the trailing 6-month period	11.94%	12.43%	-0.49%
Volatility (1Y) Calculated over the trailing 1-year period	14.08%	44.02%	-29.94%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.53%	33.36%	-18.83%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	14.52%	33.36%	-18.84%

LDEM.L vs. ETRA.L - Expense Ratio Comparison

LDEM.L has a 0.45% expense ratio, which is lower than ETRA.L's 0.65% expense ratio.

Dividends

LDEM.L vs. ETRA.L - Dividend Comparison

LDEM.L's dividend yield for the trailing twelve months is around 3.35%, while ETRA.L has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021
ETRA.L L&G New Energy Commodities UCITS ETF USD Acc	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
LDEM.L L&G Emerging Markets Quality Dividends Equal Weight ETF USD Dis	3.35%	3.59%	3.85%	3.74%	5.33%	1.41%

Frequently Asked Questions

Can I hold both LDEM.L and ETRA.L in my portfolio?

LDEM.L and ETRA.L have a correlation of 0.35, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, LDEM.L or ETRA.L?

On fees, LDEM.L is cheaper at 0.45% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, LDEM.L or ETRA.L?

LDEM.L is cheaper with a 0.45% expense ratio, compared with 0.65% for ETRA.L.

What is the main difference between LDEM.L and ETRA.L?

LDEM.L is categorized as Emerging Markets Equities, while ETRA.L is Commodities. LDEM.L tracks L&G Emerging Markets Quality Dividends Equal Weight ETF USD Dis, while ETRA.L tracks Solactive Energy Transition Commodity Total Return Index. Their fees differ too: 0.45% for LDEM.L and 0.65% for ETRA.L.