LGAG.L vs. JRAE.L

Last updated Jun 5, 2026

LGAG.L (L&G Asia Pacific ex Japan Equity UCITS ETF) and JRAE.L (JPMorgan AC Asia Pacific ex Japan Research Enhanced Index Equity (ESG) UCITS ETF USD (acc)) are both Asia Pacific Equities funds - LGAG.L tracks the MSCI Pacific Ex Japan NR USD while JRAE.L tracks the MSCI AC Asia Pac Ex JPN NR USD. Both are passively managed. Over the past 3 years, LGAG.L returned 10.29%/yr vs 20.15%/yr for JRAE.L. A 0.73 correlation means they provide meaningful diversification when combined. LGAG.L charges 0.10%/yr vs 0.30%/yr for JRAE.L.

Performance

LGAG.L vs. JRAE.L - Performance Comparison

The chart below illustrates the hypothetical performance of a £10,000 investment in L&G Asia Pacific ex Japan Equity UCITS ETF (LGAG.L) and JPMorgan AC Asia Pacific ex Japan Research Enhanced Index Equity (ESG) UCITS ETF USD (acc) (JRAE.L). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, LGAG.L achieves a 8.78% return, which is significantly lower than JRAE.L's 28.94% return.

LGAG.L

• 1D: -0.69%
• 1M: 0.27%
• YTD: 8.78%
• 6M: 9.30%
• 1Y: 17.23%
• 3Y*: 10.29%
• 5Y*: 5.68%
• 10Y*: —

JRAE.L

• 1D: -1.76%
• 1M: 6.60%
• YTD: 28.94%
• 6M: 31.22%
• 1Y: 54.30%
• 3Y*: 20.15%
• 5Y*: —
• 10Y*: —

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

LGAG.L vs. JRAE.L - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
LGAG.L L&G Asia Pacific ex Japan Equity UCITS ETF	8.78%	12.56%	6.20%	-0.81%	2.89%
JRAE.L JPMorgan AC Asia Pacific ex Japan Research Enhanced Index Equity (ESG) UCITS ETF USD (acc)	28.94%	20.80%	10.58%	-1.23%	-1.04%

Correlation

The correlation between LGAG.L and JRAE.L is 0.66, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.66
Correlation (3Y) Calculated over the trailing 3-year period	0.74
Correlation (All Time) Calculated using the full available price history since May 9, 2022	0.73

The correlation between LGAG.L and JRAE.L has been stable across timeframes, ranging from 0.66 to 0.74 - a consistent structural relationship.

Return for Risk

LGAG.L vs. JRAE.L — Risk / Return Rank

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

LGAG.L

LGAG.L Risk / Return Rank: 46
LGAG.L Sharpe Ratio Rank: 45
LGAG.L Sortino Ratio Rank: 47
LGAG.L Omega Ratio Rank: 44
LGAG.L Calmar Ratio Rank: 49
LGAG.L Martin Ratio Rank: 44

JRAE.L

JRAE.L Risk / Return Rank: 91
JRAE.L Sharpe Ratio Rank: 93
JRAE.L Sortino Ratio Rank: 92
JRAE.L Omega Ratio Rank: 93
JRAE.L Calmar Ratio Rank: 90
JRAE.L Martin Ratio Rank: 88

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.

LGAG.L vs. JRAE.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for L&G Asia Pacific ex Japan Equity UCITS ETF (LGAG.L) and JPMorgan AC Asia Pacific ex Japan Research Enhanced Index Equity (ESG) UCITS ETF USD (acc) (JRAE.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.

	LGAG.L	JRAE.L	Difference
Sharpe ratio: Return per unit of total volatility	1.55	3.37	-1.82
Sortino ratio: Return per unit of downside risk	2.30	4.34	-2.04
Omega ratio: Gain probability vs. loss probability	1.28	1.62	-0.35
Calmar ratio: Return relative to maximum drawdown	2.37	5.62	-3.25
Martin ratio: Return relative to average drawdown	6.97	19.32	-12.36
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

LGAG.L vs. JRAE.L - Sharpe Ratio Comparison

The current LGAG.L Sharpe Ratio is 1.55, which is lower than the JRAE.L Sharpe Ratio of 3.37. The chart below compares the historical Sharpe Ratios of LGAG.L and JRAE.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

	LGAG.L	JRAE.L	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.55	3.37	-1.82
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.28	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.16	0.89	-0.73

Drawdowns

LGAG.L vs. JRAE.L - Drawdown Comparison

The maximum LGAG.L drawdown since its inception was -35.16%, which is greater than JRAE.L's maximum drawdown of -16.72%. Use the drawdown chart below to compare losses from any high point for LGAG.L and JRAE.L.

Drawdown Indicators

	LGAG.L	JRAE.L	Difference
Max Drawdown Largest peak-to-trough decline	-35.16%	-16.72%	-18.44%
Max Drawdown (1Y) Largest decline over 1 year	-7.24%	-9.61%	+2.37%
Max Drawdown (3Y) Largest decline over 3 years	-24.83%	-16.72%	-8.11%
Max Drawdown (5Y) Largest decline over 5 years	-24.83%	—	—
Current Drawdown Current decline from peak	-3.09%	-2.58%	-0.51%
Average Drawdown Average peak-to-trough decline	-10.11%	-5.61%	-4.50%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.47%	2.80%	-0.33%

Volatility

LGAG.L vs. JRAE.L - Volatility Comparison

The current volatility for L&G Asia Pacific ex Japan Equity UCITS ETF (LGAG.L) is 3.98%, while JPMorgan AC Asia Pacific ex Japan Research Enhanced Index Equity (ESG) UCITS ETF USD (acc) (JRAE.L) has a volatility of 7.21%. This indicates that LGAG.L experiences smaller price fluctuations and is considered to be less risky than JRAE.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	LGAG.L	JRAE.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.98%	7.21%	-3.23%
Volatility (6M) Calculated over the trailing 6-month period	8.63%	13.48%	-4.85%
Volatility (1Y) Calculated over the trailing 1-year period	11.11%	16.06%	-4.95%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	20.57%	15.83%	+4.74%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	22.27%	15.83%	+6.44%

LGAG.L vs. JRAE.L - Expense Ratio Comparison

LGAG.L has a 0.10% expense ratio, which is lower than JRAE.L's 0.30% expense ratio.

Dividends

LGAG.L vs. JRAE.L - Dividend Comparison

Neither LGAG.L nor JRAE.L has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both LGAG.L and JRAE.L in my portfolio?

LGAG.L and JRAE.L have a correlation of 0.66, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, LGAG.L or JRAE.L?

On fees, LGAG.L is cheaper at 0.10% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, LGAG.L or JRAE.L?

LGAG.L is cheaper with a 0.10% expense ratio, compared with 0.30% for JRAE.L.

What is the main difference between LGAG.L and JRAE.L?

LGAG.L tracks MSCI Pacific Ex Japan NR USD, while JRAE.L tracks MSCI AC Asia Pac Ex JPN NR USD. They also come from different issuers: Legal & General and JPMorgan. Their fees differ too: 0.10% for LGAG.L and 0.30% for JRAE.L.