LDEU.L vs. JRDE.L

Last updated Jul 16, 2026

LDEU.L (L&G Europe ex-UK Quality Dividends Equal Weight ETF EUR Dis) and JRDE.L (JPMorgan Europe Research Enhanced Index Equity (ESG) UCITS ETF EUR (dist)) are both Europe Equities funds - LDEU.L tracks the L&G Europe ex-UK Quality Dividends Equal Weight ETF EUR Dis while JRDE.L tracks the MSCI Europe NR EUR. Both are passively managed. Over the past 3 years, LDEU.L returned 25.18%/yr vs 26.95%/yr for JRDE.L. Their correlation of 0.85 suggests significant overlap in exposure. Both charge a 0.25% expense ratio.

Performance

LDEU.L vs. JRDE.L - Performance Comparison

The chart below illustrates the hypothetical performance of a €10,000 investment in L&G Europe ex-UK Quality Dividends Equal Weight ETF EUR Dis (LDEU.L) and JPMorgan Europe Research Enhanced Index Equity (ESG) UCITS ETF EUR (dist) (JRDE.L). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

LDEU.L is traded in EUR, while JRDE.L is traded in GBp. To make them comparable, the JRDE.L values have been converted to EUR using the latest available exchange rates.

Returns By Period

In the year-to-date period, LDEU.L achieves a 14.76% return, which is significantly higher than JRDE.L's 11.68% return.

LDEU.L

• 1D: -0.31%
• 1M: 0.93%
• 6M: 11.68%
• YTD: 14.76%
• 1Y: 29.16%
• 3Y*: 25.18%
• 5Y*: 17.00%
• 10Y*: —

JRDE.L

• 1D: 0.12%
• 1M: 1.96%
• 6M: 8.26%
• YTD: 11.68%
• 1Y: 67.96%
• 3Y*: 26.95%
• 5Y*: —
• 10Y*: —

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

LDEU.L vs. JRDE.L - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
LDEU.L L&G Europe ex-UK Quality Dividends Equal Weight ETF EUR Dis	14.76%	37.56%	14.64%	16.76%	-3.16%	4.91%
JRDE.L JPMorgan Europe Research Enhanced Index Equity (ESG) UCITS ETF EUR (dist)	11.68%	63.46%	7.14%	16.83%	-8.75%	-8.84%

Correlation

The correlation between LDEU.L and JRDE.L is 0.86, 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	0.86
Correlation (3Y) Calculated over the trailing 3-year period	0.85
Correlation (All Time) Calculated using the full available price history since Sep 15, 2021	0.85

The correlation between LDEU.L and JRDE.L has been stable across timeframes, ranging from 0.85 to 0.86 - a consistent structural relationship.

Return for Risk

LDEU.L vs. JRDE.L — Risk / Return Rank

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

LDEU.L

LDEU.L Risk / Return Rank: 90
LDEU.L Sharpe Ratio Rank: 92
LDEU.L Sortino Ratio Rank: 90
LDEU.L Omega Ratio Rank: 89
LDEU.L Calmar Ratio Rank: 90
LDEU.L Martin Ratio Rank: 88

JRDE.L

JRDE.L Risk / Return Rank: 89
JRDE.L Sharpe Ratio Rank: 61
JRDE.L Sortino Ratio Rank: 98
JRDE.L Omega Ratio Rank: 97
JRDE.L Calmar Ratio Rank: 94
JRDE.L Martin Ratio Rank: 94

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.

LDEU.L vs. JRDE.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for L&G Europe ex-UK Quality Dividends Equal Weight ETF EUR Dis (LDEU.L) and JPMorgan Europe Research Enhanced Index Equity (ESG) UCITS ETF EUR (dist) (JRDE.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.

	LDEU.L	JRDE.L	Difference
Sharpe ratio: Return per unit of total volatility	2.52	1.75	+0.77
Sortino ratio: Return per unit of downside risk	3.40	6.83	-3.43
Omega ratio: Gain probability vs. loss probability	1.45	1.88	-0.43
Calmar ratio: Return relative to maximum drawdown	4.32	6.80	-2.48
Martin ratio: Return relative to average drawdown	15.11	25.31	-10.19

LDEU.L vs. JRDE.L - Sharpe Ratio Comparison

The current LDEU.L Sharpe Ratio is 2.52, which is higher than the JRDE.L Sharpe Ratio of 1.75. The chart below compares the historical Sharpe Ratios of LDEU.L and JRDE.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

LDEU.L vs. JRDE.L - Drawdown Comparison

The maximum LDEU.L drawdown since its inception was -20.16%, smaller than the maximum JRDE.L drawdown of -25.76%. Use the drawdown chart below to compare losses from any high point for LDEU.L and JRDE.L.

Drawdown Indicators

	LDEU.L	JRDE.L	Difference
Max Drawdown Largest peak-to-trough decline	-20.16%	-25.76%	+5.60%
Max Drawdown (1Y) Largest decline over 1 year	-6.80%	-9.94%	+3.14%
Max Drawdown (3Y) Largest decline over 3 years	-14.78%	-15.92%	+1.14%
Max Drawdown (5Y) Largest decline over 5 years	-20.16%	—	—
Current Drawdown Current decline from peak	-0.54%	-1.49%	+0.95%
Average Drawdown Average peak-to-trough decline	-3.03%	-7.42%	+4.39%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.95%	2.68%	-0.73%

Volatility

LDEU.L vs. JRDE.L - Volatility Comparison

The current volatility for L&G Europe ex-UK Quality Dividends Equal Weight ETF EUR Dis (LDEU.L) is 2.88%, while JPMorgan Europe Research Enhanced Index Equity (ESG) UCITS ETF EUR (dist) (JRDE.L) has a volatility of 3.43%. This indicates that LDEU.L experiences smaller price fluctuations and is considered to be less risky than JRDE.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	LDEU.L	JRDE.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.88%	3.43%	-0.55%
Volatility (6M) Calculated over the trailing 6-month period	9.37%	10.70%	-1.33%
Volatility (1Y) Calculated over the trailing 1-year period	11.66%	38.56%	-26.90%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.39%	22.86%	-8.47%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	14.25%	22.86%	-8.61%

LDEU.L vs. JRDE.L - Expense Ratio Comparison

Both LDEU.L and JRDE.L have an expense ratio of 0.25%, making them cost-effective options compared to the broader market, where average expense ratios typically range from 0.3% to 0.9%.

Dividends

LDEU.L vs. JRDE.L - Dividend Comparison

LDEU.L's dividend yield for the trailing twelve months is around 3.52%, less than JRDE.L's 26.94% yield.

Position	TTM	2025	2024	2023	2022	2021
JRDE.L JPMorgan Europe Research Enhanced Index Equity (ESG) UCITS ETF EUR (dist)	26.94%	28.15%	2.68%	1.11%	2.99%	0.00%
LDEU.L L&G Europe ex-UK Quality Dividends Equal Weight ETF EUR Dis	3.52%	3.47%	4.36%	4.44%	4.17%	2.93%

Frequently Asked Questions

Can I hold both LDEU.L and JRDE.L in my portfolio?

LDEU.L and JRDE.L have a correlation of 0.86, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, LDEU.L or JRDE.L?

Both ETFs have the same 0.25% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, LDEU.L or JRDE.L?

LDEU.L and JRDE.L have the same expense ratio: 0.25% per year.

What is the main difference between LDEU.L and JRDE.L?

LDEU.L tracks L&G Europe ex-UK Quality Dividends Equal Weight ETF EUR Dis, while JRDE.L tracks MSCI Europe NR EUR. They also come from different issuers: L&G and JPMorgan.