LGAP.L vs. XKS2.L

Last updated Jul 18, 2026

LGAP.L (L&G Asia Pacific ex Japan Equity UCITS ETF USD (Acc)) and XKS2.L (Xtrackers MSCI Korea UCITS ETF 1C) are both exchange-traded funds - LGAP.L is a Asia Pacific Equities fund tracking the Solactive Core Developed Markets Pacific ex Japan Large & Mid Cap USD Index NTR, while XKS2.L is a South Korea Equities fund tracking the MSCI Korea NR USD. Both are passively managed. Over the past 5 years, LGAP.L returned 5.36%/yr vs 14.25%/yr for XKS2.L. A 0.63 correlation means they provide meaningful diversification when combined. LGAP.L charges 0.10%/yr vs 0.65%/yr for XKS2.L.

Performance

LGAP.L vs. XKS2.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 USD (Acc) (LGAP.L) and Xtrackers MSCI Korea UCITS ETF 1C (XKS2.L). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

LGAP.L is traded in USD, while XKS2.L is traded in GBp. To make them comparable, the XKS2.L values have been converted to USD using the latest available exchange rates.

Returns By Period

In the year-to-date period, LGAP.L achieves a 8.67% return, which is significantly lower than XKS2.L's 66.61% return.

LGAP.L

• 1D: -0.95%
• 1M: -0.95%
• 6M: 6.00%
• YTD: 8.67%
• 1Y: 13.33%
• 3Y*: 11.89%
• 5Y*: 5.36%
• 10Y*: —

XKS2.L

• 1D: -1.72%
• 1M: -22.20%
• 6M: 45.48%
• YTD: 66.61%
• 1Y: 134.33%
• 3Y*: 36.96%
• 5Y*: 14.25%
• 10Y*: 14.13%

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

LGAP.L vs. XKS2.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 USD (Acc)	8.67%	20.97%	4.67%	4.82%	-5.65%	2.87%	8.44%	17.78%	-1.30%
XKS2.L Xtrackers MSCI Korea UCITS ETF 1C	66.61%	99.81%	-22.97%	19.42%	-28.16%	-8.05%	42.89%	11.66%	-2.82%

Correlation

The correlation between LGAP.L and XKS2.L is 0.51, 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	0.51
Correlation (3Y) Calculated over the trailing 3-year period	0.55
Correlation (5Y) Calculated over the trailing 5-year period	0.60
Correlation (All Time) Calculated using the full available price history since Nov 9, 2018	0.63

The correlation between LGAP.L and XKS2.L shifts across timeframes, from 0.51 (1 year) to 0.63 (all time), reflecting how their relationship changes across market environments.

Return for Risk

LGAP.L vs. XKS2.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: 36
LGAP.L Omega Ratio Rank: 32
LGAP.L Calmar Ratio Rank: 40
LGAP.L Martin Ratio Rank: 36

XKS2.L

XKS2.L Risk / Return Rank: 93
XKS2.L Sharpe Ratio Rank: 96
XKS2.L Sortino Ratio Rank: 90
XKS2.L Omega Ratio Rank: 91
XKS2.L Calmar Ratio Rank: 93
XKS2.L Martin Ratio Rank: 92

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. XKS2.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 USD (Acc) (LGAP.L) and Xtrackers MSCI Korea UCITS ETF 1C (XKS2.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	XKS2.L	Difference
Sharpe ratio: Return per unit of total volatility	0.94	3.04	-2.09
Sortino ratio: Return per unit of downside risk	1.49	3.27	-1.78
Omega ratio: Gain probability vs. loss probability	1.17	1.45	-0.28
Calmar ratio: Return relative to maximum drawdown	1.56	5.30	-3.73
Martin ratio: Return relative to average drawdown	4.14	16.95	-12.81

LGAP.L vs. XKS2.L - Sharpe Ratio Comparison

The current LGAP.L Sharpe Ratio is 0.94, which is lower than the XKS2.L Sharpe Ratio of 3.04. The chart below compares the historical Sharpe Ratios of LGAP.L and XKS2.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. XKS2.L - Drawdown Comparison

The maximum LGAP.L drawdown since its inception was -38.56%, smaller than the maximum XKS2.L drawdown of -83.33%. Use the drawdown chart below to compare losses from any high point for LGAP.L and XKS2.L.

Drawdown Indicators

	LGAP.L	XKS2.L	Difference
Max Drawdown Largest peak-to-trough decline	-38.56%	-83.33%	+44.77%
Max Drawdown (1Y) Largest decline over 1 year	-8.50%	-25.22%	+16.72%
Max Drawdown (3Y) Largest decline over 3 years	-19.01%	-35.55%	+16.54%
Max Drawdown (5Y) Largest decline over 5 years	-24.31%	-47.37%	+23.06%
Max Drawdown (10Y) Largest decline over 10 years	—	-50.13%	—
Current Drawdown Current decline from peak	-3.07%	-25.22%	+22.15%
Average Drawdown Average peak-to-trough decline	-7.75%	-42.53%	+34.78%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.21%	7.89%	-4.68%

Volatility

LGAP.L vs. XKS2.L - Volatility Comparison

The current volatility for L&G Asia Pacific ex Japan Equity UCITS ETF USD (Acc) (LGAP.L) is 3.28%, while Xtrackers MSCI Korea UCITS ETF 1C (XKS2.L) has a volatility of 19.07%. This indicates that LGAP.L experiences smaller price fluctuations and is considered to be less risky than XKS2.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	LGAP.L	XKS2.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.28%	19.07%	-15.79%
Volatility (6M) Calculated over the trailing 6-month period	11.70%	39.90%	-28.20%
Volatility (1Y) Calculated over the trailing 1-year period	14.06%	43.97%	-29.91%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.46%	32.44%	-14.98%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.26%	28.55%	-9.29%

LGAP.L vs. XKS2.L - Expense Ratio Comparison

LGAP.L has a 0.10% expense ratio, which is lower than XKS2.L's 0.65% expense ratio.

Dividends

LGAP.L vs. XKS2.L - Dividend Comparison

Neither LGAP.L nor XKS2.L has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both LGAP.L and XKS2.L in my portfolio?

LGAP.L and XKS2.L have a correlation of 0.51, 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 XKS2.L?

On fees, LGAP.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, LGAP.L or XKS2.L?

LGAP.L is cheaper with a 0.10% expense ratio, compared with 0.65% for XKS2.L.

What is the main difference between LGAP.L and XKS2.L?

LGAP.L is categorized as Asia Pacific Equities, while XKS2.L is South Korea Equities. LGAP.L tracks Solactive Core Developed Markets Pacific ex Japan Large & Mid Cap USD Index NTR, while XKS2.L tracks MSCI Korea NR USD. They also come from different issuers: L&G and Xtrackers. Their fees differ too: 0.10% for LGAP.L and 0.65% for XKS2.L.