LGUG.L vs. MXUD.L

Last updated Jun 5, 2026

LGUG.L (L&G US Equity UCITS ETF) and MXUD.L (Invesco MSCI USA UCITS ETF Dist) are both Large Cap Blend Equities funds tracking the Russell 1000 TR USD, from Legal & General and Invesco respectively. Both are passively managed. Over the past 5 years, LGUG.L returned 14.90%/yr vs 14.83%/yr for MXUD.L. Their correlation of 0.82 suggests significant overlap in exposure. Both charge a 0.05% expense ratio.

Performance

LGUG.L vs. MXUD.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 MSCI USA UCITS ETF Dist (MXUD.L). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

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

Returns By Period

The year-to-date returns for both investments are quite close, with LGUG.L having a 10.49% return and MXUD.L slightly higher at 10.85%.

LGUG.L

• 1D: -0.07%
• 1M: 5.71%
• YTD: 10.49%
• 6M: 10.18%
• 1Y: 28.95%
• 3Y*: 19.37%
• 5Y*: 14.90%
• 10Y*: —

MXUD.L

• 1D: 0.01%
• 1M: 5.65%
• YTD: 10.85%
• 6M: 10.32%
• 1Y: 28.94%
• 3Y*: 19.44%
• 5Y*: 14.83%
• 10Y*: —

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

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

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
LGUG.L L&G US Equity UCITS ETF	10.49%	9.75%	27.44%	21.53%	-10.98%	29.52%	15.44%	2.80%
MXUD.L Invesco MSCI USA UCITS ETF Dist	10.85%	9.07%	27.65%	21.47%	-10.39%	28.01%	15.33%	0.70%

Correlation

The correlation between LGUG.L and MXUD.L is 0.89, 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	0.89
Correlation (3Y) Calculated over the trailing 3-year period	0.92
Correlation (5Y) Calculated over the trailing 5-year period	0.89
Correlation (All Time) Calculated using the full available price history since Nov 18, 2019	0.82

The correlation between LGUG.L and MXUD.L has been stable across timeframes, ranging from 0.82 to 0.92 - a consistent structural relationship.

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

Sectors	LGUG.L	MXUD.L
Technology	38.3%	35.4%
Communication Services	11.2%	11.3%
Financial Services	11.1%	11.6%
Consumer Cyclical	10.1%	10.1%
Healthcare	8.6%	8.6%
Industrials	7.6%	8.6%
Consumer Defensive	4.7%	4.8%
Energy	3.3%	3.6%
Utilities	2.0%	2.3%
Real Estate	1.6%	1.9%
Basic Materials	1.6%	1.8%

Return for Risk

LGUG.L vs. MXUD.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: 78
LGUG.L Sharpe Ratio Rank: 83
LGUG.L Sortino Ratio Rank: 81
LGUG.L Omega Ratio Rank: 83
LGUG.L Calmar Ratio Rank: 73
LGUG.L Martin Ratio Rank: 67

MXUD.L

MXUD.L Risk / Return Rank: 73
MXUD.L Sharpe Ratio Rank: 74
MXUD.L Sortino Ratio Rank: 78
MXUD.L Omega Ratio Rank: 74
MXUD.L Calmar Ratio Rank: 67
MXUD.L Martin Ratio Rank: 75

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. MXUD.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 MSCI USA UCITS ETF Dist (MXUD.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.

	LGUG.L	MXUD.L	Difference
Sharpe ratio: Return per unit of total volatility	2.66	2.41	+0.25
Sortino ratio: Return per unit of downside risk	3.59	3.26	+0.34
Omega ratio: Gain probability vs. loss probability	1.50	1.44	+0.05
Calmar ratio: Return relative to maximum drawdown	3.60	3.82	-0.22
Martin ratio: Return relative to average drawdown	12.19	12.47	-0.28
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

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

The current LGUG.L Sharpe Ratio is 2.66, which is comparable to the MXUD.L Sharpe Ratio of 2.41. The chart below compares the historical Sharpe Ratios of LGUG.L and MXUD.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.

Sharpe Ratios by Period

	LGUG.L	MXUD.L	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.66	2.41	+0.25
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	1.03	0.95	+0.08
Sharpe Ratio (All Time) Calculated using the full available price history	1.20	0.86	+0.34

Drawdowns

LGUG.L vs. MXUD.L - Drawdown Comparison

The maximum LGUG.L drawdown since its inception was -24.75%, smaller than the maximum MXUD.L drawdown of -26.88%. Use the drawdown chart below to compare losses from any high point for LGUG.L and MXUD.L.

Drawdown Indicators

	LGUG.L	MXUD.L	Difference
Max Drawdown Largest peak-to-trough decline	-24.75%	-26.88%	+2.13%
Max Drawdown (1Y) Largest decline over 1 year	-8.01%	-7.54%	-0.47%
Max Drawdown (3Y) Largest decline over 3 years	-21.49%	-21.48%	-0.01%
Max Drawdown (5Y) Largest decline over 5 years	-21.49%	-21.48%	-0.01%
Current Drawdown Current decline from peak	-0.30%	-0.08%	-0.22%
Average Drawdown Average peak-to-trough decline	-3.78%	-3.96%	+0.18%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.37%	2.32%	+0.05%

Volatility

LGUG.L vs. MXUD.L - Volatility Comparison

The current volatility for L&G US Equity UCITS ETF (LGUG.L) is 2.89%, while Invesco MSCI USA UCITS ETF Dist (MXUD.L) has a volatility of 3.55%. This indicates that LGUG.L experiences smaller price fluctuations and is considered to be less risky than MXUD.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	LGUG.L	MXUD.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.89%	3.55%	-0.66%
Volatility (6M) Calculated over the trailing 6-month period	7.56%	8.62%	-1.06%
Volatility (1Y) Calculated over the trailing 1-year period	10.83%	11.93%	-1.10%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.84%	15.67%	-0.83%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.37%	17.70%	-0.33%

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

Both LGUG.L and MXUD.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. MXUD.L - Dividend Comparison

LGUG.L has not paid dividends to shareholders, while MXUD.L's dividend yield for the trailing twelve months is around 1.05%.

Position	TTM	2025	2024	2023	2022	2021
LGUG.L L&G US Equity UCITS ETF	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
MXUD.L Invesco MSCI USA UCITS ETF Dist	1.05%	1.14%	1.30%	1.47%	1.66%	0.62%

Frequently Asked Questions

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

LGUG.L and MXUD.L have a correlation of 0.89, 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 MXUD.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 MXUD.L?

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

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

Both ETFs track Russell 1000 TR USD. They also come from different issuers: Legal & General and Invesco.