LGUG.L vs. FLXU.L

Last updated Jun 26, 2026

LGUG.L (L&G US Equity UCITS ETF) and FLXU.L (Franklin LibertyQ U.S. Equity UCITS ETF) are both Large Cap Blend Equities funds tracking the Russell 1000 TR USD, from Legal & General and Franklin Templeton respectively. Both are passively managed. Over the past 5 years, LGUG.L returned 13.70%/yr vs 12.81%/yr for FLXU.L. Their correlation of 0.89 suggests significant overlap in exposure. LGUG.L charges 0.05%/yr vs 0.25%/yr for FLXU.L.

Performance

LGUG.L vs. FLXU.L - Performance Comparison

The chart below illustrates the hypothetical performance of a £10,000 investment in L&G US Equity UCITS ETF (LGUG.L) and Franklin LibertyQ U.S. Equity UCITS ETF (FLXU.L). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

LGUG.L is traded in GBp, while FLXU.L is traded in GBP. To make them comparable, the FLXU.L values have been converted to GBp using the latest available exchange rates.

Returns By Period

In the year-to-date period, LGUG.L achieves a 9.40% return, which is significantly lower than FLXU.L's 12.62% return.

LGUG.L

• 1D: -1.01%
• 1M: 0.00%
• YTD: 9.40%
• 6M: 9.46%
• 1Y: 25.64%
• 3Y*: 19.44%
• 5Y*: 13.70%
• 10Y*: —

FLXU.L

• 1D: -0.85%
• 1M: 1.02%
• YTD: 12.62%
• 6M: 12.44%
• 1Y: 29.08%
• 3Y*: 16.22%
• 5Y*: 12.81%
• 10Y*: —

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

LGUG.L vs. FLXU.L - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
LGUG.L L&G US Equity UCITS ETF	9.40%	9.75%	27.44%	21.53%	-10.98%	29.52%	17.11%	26.81%	-29.04%
FLXU.L Franklin LibertyQ U.S. Equity UCITS ETF	12.62%	13.11%	12.50%	8.51%	2.19%	28.57%	5.69%	24.32%	-7.11%

Correlation

The correlation between LGUG.L and FLXU.L is 0.94, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.94
Correlation (3Y) Calculated over the trailing 3-year period	0.85
Correlation (5Y) Calculated over the trailing 5-year period	0.87
Correlation (All Time) Calculated using the full available price history since Nov 9, 2018	0.89

The correlation between LGUG.L and FLXU.L has been stable across timeframes, ranging from 0.85 to 0.94 - a consistent structural relationship.

LGUG.L vs. FLXU.L - Sectors Allocation Comparison

Sectors	LGUG.L	FLXU.L
Technology	38.5%	37.1%
Financial Services	11.3%	10.1%
Communication Services	10.7%	11.2%
Consumer Cyclical	9.8%	11.0%
Healthcare	8.9%	10.0%
Industrials	7.8%	10.1%
Consumer Defensive	4.7%	4.1%
Energy	3.2%	0.9%
Utilities	1.9%	1.4%
Real Estate	1.6%	2.7%
Basic Materials	1.6%	1.6%

Return for Risk

LGUG.L vs. FLXU.L — Risk / Return Rank

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

LGUG.L

LGUG.L Risk / Return Rank: 76
LGUG.L Sharpe Ratio Rank: 81
LGUG.L Sortino Ratio Rank: 80
LGUG.L Omega Ratio Rank: 81
LGUG.L Calmar Ratio Rank: 72
LGUG.L Martin Ratio Rank: 67

FLXU.L

FLXU.L Risk / Return Rank: 88
FLXU.L Sharpe Ratio Rank: 87
FLXU.L Sortino Ratio Rank: 87
FLXU.L Omega Ratio Rank: 86
FLXU.L Calmar Ratio Rank: 90
FLXU.L Martin Ratio Rank: 90

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.

LGUG.L vs. FLXU.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for L&G US Equity UCITS ETF (LGUG.L) and Franklin LibertyQ U.S. Equity UCITS ETF (FLXU.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.

	LGUG.L	FLXU.L	Difference
Sharpe ratio: Return per unit of total volatility	2.27	2.48	-0.21
Sortino ratio: Return per unit of downside risk	3.11	3.46	-0.35
Omega ratio: Gain probability vs. loss probability	1.42	1.45	-0.04
Calmar ratio: Return relative to maximum drawdown	3.19	4.91	-1.72
Martin ratio: Return relative to average drawdown	10.64	17.58	-6.95

LGUG.L vs. FLXU.L - Sharpe Ratio Comparison

The current LGUG.L Sharpe Ratio is 2.27, which is comparable to the FLXU.L Sharpe Ratio of 2.48. The chart below compares the historical Sharpe Ratios of LGUG.L and FLXU.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

LGUG.L vs. FLXU.L - Drawdown Comparison

The maximum LGUG.L drawdown since its inception was -30.90%, which is greater than FLXU.L's maximum drawdown of -24.72%. Use the drawdown chart below to compare losses from any high point for LGUG.L and FLXU.L.

Drawdown Indicators

	LGUG.L	FLXU.L	Difference
Max Drawdown Largest peak-to-trough decline	-30.90%	-24.72%	-6.18%
Max Drawdown (1Y) Largest decline over 1 year	-8.01%	-5.90%	-2.11%
Max Drawdown (3Y) Largest decline over 3 years	-21.49%	-20.13%	-1.36%
Max Drawdown (5Y) Largest decline over 5 years	-21.49%	-20.13%	-1.36%
Current Drawdown Current decline from peak	-1.57%	-1.07%	-0.50%
Average Drawdown Average peak-to-trough decline	-7.12%	-2.80%	-4.32%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.40%	1.65%	+0.75%

Volatility

LGUG.L vs. FLXU.L - Volatility Comparison

L&G US Equity UCITS ETF (LGUG.L) and Franklin LibertyQ U.S. Equity UCITS ETF (FLXU.L) have volatilities of 3.67% and 3.84%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	LGUG.L	FLXU.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.67%	3.84%	-0.17%
Volatility (6M) Calculated over the trailing 6-month period	8.08%	8.69%	-0.61%
Volatility (1Y) Calculated over the trailing 1-year period	11.24%	11.66%	-0.42%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	20.33%	13.13%	+7.20%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	21.46%	14.88%	+6.58%

LGUG.L vs. FLXU.L - Expense Ratio Comparison

LGUG.L has a 0.05% expense ratio, which is lower than FLXU.L's 0.25% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

LGUG.L vs. FLXU.L - Dividend Comparison

Neither LGUG.L nor FLXU.L has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both LGUG.L and FLXU.L in my portfolio?

With a correlation of 0.94, LGUG.L and FLXU.L move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which ETF is better, LGUG.L or FLXU.L?

On fees, LGUG.L is cheaper at 0.05% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, LGUG.L or FLXU.L?

LGUG.L is cheaper with a 0.05% expense ratio, compared with 0.25% for FLXU.L.

What is the main difference between LGUG.L and FLXU.L?

Both ETFs track Russell 1000 TR USD. They also come from different issuers: Legal & General and Franklin Templeton. Their fees differ too: 0.05% for LGUG.L and 0.25% for FLXU.L.