LGAP.L vs. LGGL.L

Last updated Jul 16, 2026

LGAP.L (L&G Asia Pacific ex Japan Equity UCITS ETF) and LGGL.L (L&G Global Equity UCITS ETF) are both exchange-traded funds - LGAP.L is a Japan Equities fund tracking the L&G Asia Pacific ex Japan Equity UCITS ETF, while LGGL.L is a Global Equities fund tracking the Solactive Core Developed Markets Large & Mid Cap USD Index NTR. Both are passively managed. Over the past 5 years, LGAP.L returned 5.54%/yr vs 11.81%/yr for LGGL.L. A 0.79 correlation means they provide meaningful diversification when combined. Both charge a 0.10% expense ratio.

Performance

LGAP.L vs. LGGL.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 (LGAP.L) and L&G Global Equity UCITS ETF (LGGL.L). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, LGAP.L achieves a 9.64% return, which is significantly lower than LGGL.L's 10.31% return.

LGAP.L

• 1D: -0.40%
• 1M: 0.61%
• 6M: 7.65%
• YTD: 9.64%
• 1Y: 15.23%
• 3Y*: 12.38%
• 5Y*: 5.54%
• 10Y*: —

LGGL.L

• 1D: 0.04%
• 1M: 0.18%
• 6M: 9.21%
• YTD: 10.31%
• 1Y: 22.17%
• 3Y*: 19.11%
• 5Y*: 11.81%
• 10Y*: —

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

LGAP.L vs. LGGL.L - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
LGAP.L L&G Asia Pacific ex Japan Equity UCITS ETF	9.64%	20.97%	4.67%	4.82%	-5.65%	2.87%	8.44%	17.78%	-1.30%
LGGL.L L&G Global Equity UCITS ETF	10.31%	21.18%	19.20%	25.02%	-18.03%	21.94%	16.35%	26.98%	-7.73%

Correlation

The correlation between LGAP.L and LGGL.L is 0.76, 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	0.76
Correlation (3Y) Calculated over the trailing 3-year period	0.73
Correlation (5Y) Calculated over the trailing 5-year period	0.78
Correlation (All Time) Calculated using the full available price history since Nov 9, 2018	0.79

The correlation between LGAP.L and LGGL.L has been stable across timeframes, ranging from 0.73 to 0.79 - a consistent structural relationship.

Return for Risk

LGAP.L vs. LGGL.L — Risk / Return Rank

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

LGAP.L

LGAP.L Risk / Return Rank: 36
LGAP.L Sharpe Ratio Rank: 34
LGAP.L Sortino Ratio Rank: 37
LGAP.L Omega Ratio Rank: 33
LGAP.L Calmar Ratio Rank: 41
LGAP.L Martin Ratio Rank: 37

LGGL.L

LGGL.L Risk / Return Rank: 70
LGGL.L Sharpe Ratio Rank: 68
LGGL.L Sortino Ratio Rank: 76
LGGL.L Omega Ratio Rank: 68
LGGL.L Calmar Ratio Rank: 65
LGGL.L Martin Ratio Rank: 73

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.

LGAP.L vs. LGGL.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 (LGAP.L) and L&G Global Equity UCITS ETF (LGGL.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.

	LGAP.L	LGGL.L	Difference
Sharpe ratio: Return per unit of total volatility	1.04	1.80	-0.75
Sortino ratio: Return per unit of downside risk	1.63	2.73	-1.10
Omega ratio: Gain probability vs. loss probability	1.19	1.33	-0.14
Calmar ratio: Return relative to maximum drawdown	1.72	2.62	-0.90
Martin ratio: Return relative to average drawdown	4.58	10.81	-6.23

LGAP.L vs. LGGL.L - Sharpe Ratio Comparison

The current LGAP.L Sharpe Ratio is 1.04, which is lower than the LGGL.L Sharpe Ratio of 1.80. The chart below compares the historical Sharpe Ratios of LGAP.L and LGGL.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

LGAP.L vs. LGGL.L - Drawdown Comparison

The maximum LGAP.L drawdown since its inception was -38.56%, which is greater than LGGL.L's maximum drawdown of -33.89%. Use the drawdown chart below to compare losses from any high point for LGAP.L and LGGL.L.

Drawdown Indicators

	LGAP.L	LGGL.L	Difference
Max Drawdown Largest peak-to-trough decline	-38.56%	-33.89%	-4.67%
Max Drawdown (1Y) Largest decline over 1 year	-8.50%	-8.42%	-0.08%
Max Drawdown (3Y) Largest decline over 3 years	-19.01%	-17.79%	-1.22%
Max Drawdown (5Y) Largest decline over 5 years	-24.31%	-25.76%	+1.45%
Current Drawdown Current decline from peak	-2.20%	-0.07%	-2.13%
Average Drawdown Average peak-to-trough decline	-7.75%	-4.91%	-2.84%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.21%	2.05%	+1.16%

Volatility

LGAP.L vs. LGGL.L - Volatility Comparison

L&G Asia Pacific ex Japan Equity UCITS ETF (LGAP.L) has a higher volatility of 3.45% compared to L&G Global Equity UCITS ETF (LGGL.L) at 2.85%. This indicates that LGAP.L's price experiences larger fluctuations and is considered to be riskier than LGGL.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	LGAP.L	LGGL.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.45%	2.85%	+0.60%
Volatility (6M) Calculated over the trailing 6-month period	11.66%	9.86%	+1.80%
Volatility (1Y) Calculated over the trailing 1-year period	14.03%	12.27%	+1.76%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.46%	15.65%	+1.81%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.26%	17.10%	+2.16%

LGAP.L vs. LGGL.L - Expense Ratio Comparison

Both LGAP.L and LGGL.L have an expense ratio of 0.10%, making them cost-effective options compared to the broader market, where average expense ratios typically range from 0.3% to 0.9%.

Dividends

LGAP.L vs. LGGL.L - Dividend Comparison

Neither LGAP.L nor LGGL.L has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both LGAP.L and LGGL.L in my portfolio?

LGAP.L and LGGL.L have a correlation of 0.76, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, LGAP.L or LGGL.L?

Both ETFs have the same 0.10% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, LGAP.L or LGGL.L?

LGAP.L and LGGL.L have the same expense ratio: 0.10% per year.

What is the main difference between LGAP.L and LGGL.L?

LGAP.L is categorized as Japan Equities, while LGGL.L is Global Equities. LGAP.L tracks L&G Asia Pacific ex Japan Equity UCITS ETF, while LGGL.L tracks Solactive Core Developed Markets Large & Mid Cap USD Index NTR.