LGJP.L vs. LGEU.L

Last updated Jul 18, 2026

LGJP.L (L&G Japan Equity UCITS ETF USD (Acc)) and LGEU.L (L&G Europe ex UK Equity UCITS ETF EUR (Acc)) are both exchange-traded funds - LGJP.L is a Japan Equities fund tracking the Solactive Core Japan Large & Mid Cap USD Index NTR, while LGEU.L is a Europe Equities fund tracking the Solactive Core Developed Markets Europe ex UK Large & Mid Cap EUR Index NTR. Both are passively managed. Over the past 5 years, LGJP.L returned 9.00%/yr vs 9.10%/yr for LGEU.L. A 0.64 correlation means they provide meaningful diversification when combined. Both charge a 0.10% expense ratio.

Performance

LGJP.L vs. LGEU.L - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in L&G Japan Equity UCITS ETF USD (Acc) (LGJP.L) and L&G Europe ex UK Equity UCITS ETF EUR (Acc) (LGEU.L). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

LGJP.L is traded in USD, while LGEU.L is traded in EUR. To make them comparable, the LGEU.L values have been converted to USD using the latest available exchange rates.

Returns By Period

In the year-to-date period, LGJP.L achieves a 12.44% return, which is significantly higher than LGEU.L's 8.33% return.

LGJP.L

• 1D: -2.11%
• 1M: -4.31%
• 6M: 6.50%
• YTD: 12.44%
• 1Y: 29.74%
• 3Y*: 16.40%
• 5Y*: 9.00%
• 10Y*: —

LGEU.L

• 1D: -0.31%
• 1M: -0.38%
• 6M: 5.47%
• YTD: 8.33%
• 1Y: 19.05%
• 3Y*: 15.21%
• 5Y*: 9.10%
• 10Y*: —

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

LGJP.L vs. LGEU.L - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
LGJP.L L&G Japan Equity UCITS ETF USD (Acc)	12.44%	25.67%	8.35%	20.25%	-16.76%	1.05%	16.58%	18.59%	-7.06%
LGEU.L L&G Europe ex UK Equity UCITS ETF EUR (Acc)	8.33%	36.05%	0.09%	21.70%	-17.07%	16.39%	10.51%	28.17%	-8.56%

Correlation

The correlation between LGJP.L and LGEU.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	0.62
Correlation (5Y) Calculated over the trailing 5-year period	0.65
Correlation (All Time) Calculated using the full available price history since Nov 9, 2018	0.64

The correlation between LGJP.L and LGEU.L has been stable across timeframes, ranging from 0.62 to 0.66 - a consistent structural relationship.

Return for Risk

LGJP.L vs. LGEU.L — Risk / Return Rank

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

LGJP.L

LGJP.L Risk / Return Rank: 56
LGJP.L Sharpe Ratio Rank: 54
LGJP.L Sortino Ratio Rank: 56
LGJP.L Omega Ratio Rank: 55
LGJP.L Calmar Ratio Rank: 60
LGJP.L Martin Ratio Rank: 56

LGEU.L

LGEU.L Risk / Return Rank: 64
LGEU.L Sharpe Ratio Rank: 65
LGEU.L Sortino Ratio Rank: 66
LGEU.L Omega Ratio Rank: 65
LGEU.L Calmar Ratio Rank: 59
LGEU.L Martin Ratio Rank: 64

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.

LGJP.L vs. LGEU.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for L&G Japan Equity UCITS ETF USD (Acc) (LGJP.L) and L&G Europe ex UK Equity UCITS ETF EUR (Acc) (LGEU.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.

	LGJP.L	LGEU.L	Difference
Sharpe ratio: Return per unit of total volatility	1.40	1.25	+0.14
Sortino ratio: Return per unit of downside risk	2.05	1.86	+0.19
Omega ratio: Gain probability vs. loss probability	1.26	1.23	+0.03
Calmar ratio: Return relative to maximum drawdown	2.24	1.65	+0.59
Martin ratio: Return relative to average drawdown	7.24	5.93	+1.32

LGJP.L vs. LGEU.L - Sharpe Ratio Comparison

The current LGJP.L Sharpe Ratio is 1.40, which is comparable to the LGEU.L Sharpe Ratio of 1.25. The chart below compares the historical Sharpe Ratios of LGJP.L and LGEU.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

LGJP.L vs. LGEU.L - Drawdown Comparison

The maximum LGJP.L drawdown since its inception was -32.19%, smaller than the maximum LGEU.L drawdown of -33.95%. Use the drawdown chart below to compare losses from any high point for LGJP.L and LGEU.L.

Drawdown Indicators

	LGJP.L	LGEU.L	Difference
Max Drawdown Largest peak-to-trough decline	-32.19%	-33.95%	+1.76%
Max Drawdown (1Y) Largest decline over 1 year	-13.20%	-11.92%	-1.28%
Max Drawdown (3Y) Largest decline over 3 years	-14.30%	-15.31%	+1.01%
Max Drawdown (5Y) Largest decline over 5 years	-32.19%	-33.95%	+1.76%
Current Drawdown Current decline from peak	-5.49%	-1.99%	-3.50%
Average Drawdown Average peak-to-trough decline	-7.57%	-6.29%	-1.28%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.10%	3.32%	+0.78%

Volatility

LGJP.L vs. LGEU.L - Volatility Comparison

L&G Japan Equity UCITS ETF USD (Acc) (LGJP.L) has a higher volatility of 6.68% compared to L&G Europe ex UK Equity UCITS ETF EUR (Acc) (LGEU.L) at 4.21%. This indicates that LGJP.L's price experiences larger fluctuations and is considered to be riskier than LGEU.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	LGJP.L	LGEU.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.68%	4.21%	+2.47%
Volatility (6M) Calculated over the trailing 6-month period	17.75%	13.11%	+4.64%
Volatility (1Y) Calculated over the trailing 1-year period	21.21%	15.72%	+5.49%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.17%	18.29%	-0.12%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.31%	19.36%	-1.05%

LGJP.L vs. LGEU.L - Expense Ratio Comparison

Both LGJP.L and LGEU.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

LGJP.L vs. LGEU.L - Dividend Comparison

Neither LGJP.L nor LGEU.L has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both LGJP.L and LGEU.L in my portfolio?

LGJP.L and LGEU.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, LGJP.L or LGEU.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, LGJP.L or LGEU.L?

LGJP.L and LGEU.L have the same expense ratio: 0.10% per year.

What is the main difference between LGJP.L and LGEU.L?

LGJP.L is categorized as Japan Equities, while LGEU.L is Europe Equities. LGJP.L tracks Solactive Core Japan Large & Mid Cap USD Index NTR, while LGEU.L tracks Solactive Core Developed Markets Europe ex UK Large & Mid Cap EUR Index NTR.