LDUK.L vs. USDG.L

Last updated Jun 5, 2026

LDUK.L (L&G Quality Equity Dividends ESG Exclusions UK UCITS ETF) and USDG.L (L&G ESG USD Corporate Bond UCITS ETF) are both exchange-traded funds - LDUK.L is a Europe Equities fund tracking the FTSE AllSh TR GBP, while USDG.L is a Corporate Bonds fund tracking the Bloomberg US Corp Bond TR USD. Both are passively managed. Over the past 5 years, LDUK.L returned 9.34%/yr vs 2.06%/yr for USDG.L. At a correlation of -0.08, they often move in opposite directions. LDUK.L charges 0.25%/yr vs 0.09%/yr for USDG.L.

Performance

LDUK.L vs. USDG.L - Performance Comparison

The chart below illustrates the hypothetical performance of a £10,000 investment in L&G Quality Equity Dividends ESG Exclusions UK UCITS ETF (LDUK.L) and L&G ESG USD Corporate Bond UCITS ETF (USDG.L). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, LDUK.L achieves a 3.01% return, which is significantly higher than USDG.L's 0.73% return.

LDUK.L

• 1D: 0.72%
• 1M: 4.03%
• YTD: 3.01%
• 6M: 7.64%
• 1Y: 12.83%
• 3Y*: 16.70%
• 5Y*: 9.34%
• 10Y*: —

USDG.L

• 1D: 0.34%
• 1M: 1.46%
• YTD: 0.73%
• 6M: 0.35%
• 1Y: 6.56%
• 3Y*: 2.83%
• 5Y*: 2.06%
• 10Y*: —

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

LDUK.L vs. USDG.L - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
LDUK.L L&G Quality Equity Dividends ESG Exclusions UK UCITS ETF	3.01%	22.62%	16.13%	8.22%	-3.33%	6.07%
USDG.L L&G ESG USD Corporate Bond UCITS ETF	0.73%	0.15%	4.75%	2.41%	-3.62%	5.26%

Correlation

The correlation between LDUK.L and USDG.L is 0.06, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.06
Correlation (3Y) Calculated over the trailing 3-year period	-0.01
Correlation (5Y) Calculated over the trailing 5-year period	-0.08
Correlation (All Time) Calculated using the full available price history since Apr 21, 2021	-0.08

The correlation between LDUK.L and USDG.L shifts across timeframes, from -0.08 (5 years) to 0.06 (1 year), reflecting how their relationship changes across market environments.

Return for Risk

LDUK.L vs. USDG.L — Risk / Return Rank

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

LDUK.L

LDUK.L Risk / Return Rank: 26
LDUK.L Sharpe Ratio Rank: 25
LDUK.L Sortino Ratio Rank: 26
LDUK.L Omega Ratio Rank: 25
LDUK.L Calmar Ratio Rank: 24
LDUK.L Martin Ratio Rank: 29

USDG.L

USDG.L Risk / Return Rank: 26
USDG.L Sharpe Ratio Rank: 24
USDG.L Sortino Ratio Rank: 24
USDG.L Omega Ratio Rank: 26
USDG.L Calmar Ratio Rank: 30
USDG.L Martin Ratio Rank: 26

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.

LDUK.L vs. USDG.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for L&G Quality Equity Dividends ESG Exclusions UK UCITS ETF (LDUK.L) and L&G ESG USD Corporate Bond UCITS ETF (USDG.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.

	LDUK.L	USDG.L	Difference
Sharpe ratio: Return per unit of total volatility	0.87	0.83	+0.04
Sortino ratio: Return per unit of downside risk	1.37	1.24	+0.14
Omega ratio: Gain probability vs. loss probability	1.16	1.17	-0.01
Calmar ratio: Return relative to maximum drawdown	1.11	1.44	-0.33
Martin ratio: Return relative to average drawdown	4.06	3.32	+0.74
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

LDUK.L vs. USDG.L - Sharpe Ratio Comparison

The current LDUK.L Sharpe Ratio is 0.87, which is comparable to the USDG.L Sharpe Ratio of 0.83. The chart below compares the historical Sharpe Ratios of LDUK.L and USDG.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

	LDUK.L	USDG.L	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.87	0.83	+0.04
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.69	0.24	+0.46
Sharpe Ratio (All Time) Calculated using the full available price history	0.76	0.13	+0.63

Drawdowns

LDUK.L vs. USDG.L - Drawdown Comparison

The maximum LDUK.L drawdown since its inception was -17.13%, which is greater than USDG.L's maximum drawdown of -12.80%. Use the drawdown chart below to compare losses from any high point for LDUK.L and USDG.L.

Drawdown Indicators

	LDUK.L	USDG.L	Difference
Max Drawdown Largest peak-to-trough decline	-17.13%	-12.80%	-4.33%
Max Drawdown (1Y) Largest decline over 1 year	-11.51%	-4.53%	-6.98%
Max Drawdown (3Y) Largest decline over 3 years	-13.46%	-8.61%	-4.85%
Max Drawdown (5Y) Largest decline over 5 years	-17.13%	-12.80%	-4.33%
Current Drawdown Current decline from peak	-1.80%	-2.29%	+0.49%
Average Drawdown Average peak-to-trough decline	-3.66%	-5.01%	+1.35%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.15%	1.97%	+1.18%

Volatility

LDUK.L vs. USDG.L - Volatility Comparison

L&G Quality Equity Dividends ESG Exclusions UK UCITS ETF (LDUK.L) has a higher volatility of 4.63% compared to L&G ESG USD Corporate Bond UCITS ETF (USDG.L) at 1.98%. This indicates that LDUK.L's price experiences larger fluctuations and is considered to be riskier than USDG.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	LDUK.L	USDG.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.63%	1.98%	+2.65%
Volatility (6M) Calculated over the trailing 6-month period	12.32%	6.75%	+5.57%
Volatility (1Y) Calculated over the trailing 1-year period	14.67%	7.88%	+6.79%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.61%	8.67%	+6.94%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.64%	8.64%	+7.00%

LDUK.L vs. USDG.L - Expense Ratio Comparison

LDUK.L has a 0.25% expense ratio, which is higher than USDG.L's 0.09% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

LDUK.L vs. USDG.L - Dividend Comparison

LDUK.L's dividend yield for the trailing twelve months is around 4.79%, more than USDG.L's 4.67% yield.

Position	TTM	2025	2024	2023	2022	2021
LDUK.L L&G Quality Equity Dividends ESG Exclusions UK UCITS ETF	4.79%	4.87%	4.43%	5.14%	5.87%	4.41%
USDG.L L&G ESG USD Corporate Bond UCITS ETF	4.67%	4.70%	3.99%	3.27%	2.25%	0.76%

Frequently Asked Questions

Can I hold both LDUK.L and USDG.L in my portfolio?

LDUK.L and USDG.L have a correlation of 0.06, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, LDUK.L or USDG.L?

On fees, USDG.L is cheaper at 0.09% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, LDUK.L or USDG.L?

USDG.L is cheaper with a 0.09% expense ratio, compared with 0.25% for LDUK.L.

What is the main difference between LDUK.L and USDG.L?

LDUK.L is categorized as Europe Equities, while USDG.L is Corporate Bonds. LDUK.L tracks FTSE AllSh TR GBP, while USDG.L tracks Bloomberg US Corp Bond TR USD. Their fees differ too: 0.25% for LDUK.L and 0.09% for USDG.L.