LGUG.L vs. G500.L

Last updated Jul 18, 2026

LGUG.L (L&G US Equity UCITS ETF) and G500.L (Invesco S&P 500 UCITS ETF GBP Hedged (Acc)) are both exchange-traded funds - LGUG.L is a Large Cap Blend Equities fund tracking the Russell 1000 TR USD, while G500.L is a US Equities fund tracking the S&P 500 GBP Daily Hedged Index. Both are passively managed. Over the past 5 years, LGUG.L returned 13.09%/yr vs 11.89%/yr for G500.L. A 0.79 correlation means they provide meaningful diversification when combined. Both charge a 0.05% expense ratio.

Performance

LGUG.L vs. G500.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 Invesco S&P 500 UCITS ETF GBP Hedged (Acc) (G500.L). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both stocks are quite close, with LGUG.L having a 9.08% return and G500.L slightly lower at 8.63%.

LGUG.L

• 1D: -0.92%
• 1M: -0.84%
• 6M: 7.45%
• YTD: 9.08%
• 1Y: 19.38%
• 3Y*: 18.60%
• 5Y*: 13.09%
• 10Y*: —

G500.L

• 1D: -1.25%
• 1M: -0.62%
• 6M: 7.69%
• YTD: 8.63%
• 1Y: 19.40%
• 3Y*: 18.98%
• 5Y*: 11.89%
• 10Y*: —

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

LGUG.L vs. G500.L - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
LGUG.L L&G US Equity UCITS ETF	9.08%	9.75%	27.44%	21.53%	-10.98%	29.52%	12.85%
G500.L Invesco S&P 500 UCITS ETF GBP Hedged (Acc)	8.63%	17.45%	24.98%	24.88%	-19.98%	28.95%	20.65%

Correlation

The correlation between LGUG.L and G500.L is 0.80, 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	0.80
Correlation (3Y) Calculated over the trailing 3-year period	0.80
Correlation (5Y) Calculated over the trailing 5-year period	0.80
Correlation (All Time) Calculated using the full available price history since Jun 30, 2020	0.79

The correlation between LGUG.L and G500.L has been stable across timeframes, ranging from 0.79 to 0.80 - a consistent structural relationship.

Return for Risk

LGUG.L vs. G500.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: 65
LGUG.L Sharpe Ratio Rank: 68
LGUG.L Sortino Ratio Rank: 66
LGUG.L Omega Ratio Rank: 68
LGUG.L Calmar Ratio Rank: 62
LGUG.L Martin Ratio Rank: 59

G500.L

G500.L Risk / Return Rank: 67
G500.L Sharpe Ratio Rank: 65
G500.L Sortino Ratio Rank: 70
G500.L Omega Ratio Rank: 64
G500.L Calmar Ratio Rank: 63
G500.L Martin Ratio Rank: 71

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. G500.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 Invesco S&P 500 UCITS ETF GBP Hedged (Acc) (G500.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	G500.L	Difference
Sharpe ratio: Return per unit of total volatility	1.72	1.60	+0.12
Sortino ratio: Return per unit of downside risk	2.39	2.40	-0.01
Omega ratio: Gain probability vs. loss probability	1.32	1.29	+0.03
Calmar ratio: Return relative to maximum drawdown	2.41	2.35	+0.05
Martin ratio: Return relative to average drawdown	7.99	9.47	-1.48

LGUG.L vs. G500.L - Sharpe Ratio Comparison

The current LGUG.L Sharpe Ratio is 1.72, which is comparable to the G500.L Sharpe Ratio of 1.60. The chart below compares the historical Sharpe Ratios of LGUG.L and G500.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. G500.L - Drawdown Comparison

The maximum LGUG.L drawdown since its inception was -30.90%, which is greater than G500.L's maximum drawdown of -25.20%. Use the drawdown chart below to compare losses from any high point for LGUG.L and G500.L.

Drawdown Indicators

	LGUG.L	G500.L	Difference
Max Drawdown Largest peak-to-trough decline	-30.90%	-25.20%	-5.70%
Max Drawdown (1Y) Largest decline over 1 year	-8.01%	-8.21%	+0.20%
Max Drawdown (3Y) Largest decline over 3 years	-21.49%	-18.22%	-3.27%
Max Drawdown (5Y) Largest decline over 5 years	-21.49%	-25.20%	+3.71%
Current Drawdown Current decline from peak	-1.85%	-1.81%	-0.04%
Average Drawdown Average peak-to-trough decline	-7.06%	-5.31%	-1.75%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.42%	2.04%	+0.38%

Volatility

LGUG.L vs. G500.L - Volatility Comparison

L&G US Equity UCITS ETF (LGUG.L) and Invesco S&P 500 UCITS ETF GBP Hedged (Acc) (G500.L) have volatilities of 2.99% and 3.04%, 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	G500.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.99%	3.04%	-0.05%
Volatility (6M) Calculated over the trailing 6-month period	8.02%	9.37%	-1.35%
Volatility (1Y) Calculated over the trailing 1-year period	11.30%	12.11%	-0.81%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	20.34%	16.00%	+4.34%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	21.39%	15.87%	+5.52%

LGUG.L vs. G500.L - Expense Ratio Comparison

Both LGUG.L and G500.L have an expense ratio of 0.05%, making them cost-effective options compared to the broader market, where average expense ratios typically range from 0.3% to 0.9%.

Dividends

LGUG.L vs. G500.L - Dividend Comparison

Neither LGUG.L nor G500.L has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both LGUG.L and G500.L in my portfolio?

LGUG.L and G500.L have a correlation of 0.80, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, LGUG.L or G500.L?

Both ETFs have the same 0.05% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, LGUG.L or G500.L?

LGUG.L and G500.L have the same expense ratio: 0.05% per year.

What is the main difference between LGUG.L and G500.L?

LGUG.L is categorized as Large Cap Blend Equities, while G500.L is US Equities. LGUG.L tracks Russell 1000 TR USD, while G500.L tracks S&P 500 GBP Daily Hedged Index. They also come from different issuers: Legal & General and Invesco.