LGUG.L vs. UKG5.L

Last updated Jun 26, 2026

LGUG.L (L&G US Equity UCITS ETF) and UKG5.L (L&G UK Gilt 0-5 Year UCITS ETF) are both exchange-traded funds - LGUG.L is a Large Cap Blend Equities fund tracking the Russell 1000 TR USD, while UKG5.L is a European Government Bonds fund tracking the FTSE Act UK Cnvt Gilts All Stocks TR GBP. Both are passively managed. Over the past 5 years, LGUG.L returned 13.70%/yr vs 1.35%/yr for UKG5.L. At a 0.02 correlation, their price movements are largely independent. LGUG.L charges 0.05%/yr vs 0.06%/yr for UKG5.L.

Performance

LGUG.L vs. UKG5.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 L&G UK Gilt 0-5 Year UCITS ETF (UKG5.L). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, LGUG.L achieves a 9.40% return, which is significantly higher than UKG5.L's 1.29% 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*: —

UKG5.L

• 1D: 0.04%
• 1M: 0.77%
• YTD: 1.29%
• 6M: 1.33%
• 1Y: 3.28%
• 3Y*: 4.73%
• 5Y*: 1.35%
• 10Y*: —

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

LGUG.L vs. UKG5.L - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
LGUG.L L&G US Equity UCITS ETF	9.40%	9.75%	27.44%	21.53%	-10.98%	29.52%	0.68%
UKG5.L L&G UK Gilt 0-5 Year UCITS ETF	1.29%	5.06%	2.37%	3.91%	-4.71%	-1.66%	0.23%

Correlation

The correlation between LGUG.L and UKG5.L is 0.15, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.15
Correlation (3Y) Calculated over the trailing 3-year period	0.08
Correlation (5Y) Calculated over the trailing 5-year period	0.01
Correlation (All Time) Calculated using the full available price history since Dec 4, 2020	0.02

The correlation between LGUG.L and UKG5.L shifts across timeframes, from 0.01 (5 years) to 0.15 (1 year), reflecting how their relationship changes across market environments.

Return for Risk

LGUG.L vs. UKG5.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

UKG5.L

UKG5.L Risk / Return Rank: 54
UKG5.L Sharpe Ratio Rank: 58
UKG5.L Sortino Ratio Rank: 63
UKG5.L Omega Ratio Rank: 68
UKG5.L Calmar Ratio Rank: 38
UKG5.L Martin Ratio Rank: 41

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. UKG5.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 L&G UK Gilt 0-5 Year UCITS ETF (UKG5.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	UKG5.L	Difference
Sharpe ratio: Return per unit of total volatility	2.27	1.73	+0.54
Sortino ratio: Return per unit of downside risk	3.11	2.58	+0.53
Omega ratio: Gain probability vs. loss probability	1.42	1.36	+0.06
Calmar ratio: Return relative to maximum drawdown	3.19	1.74	+1.44
Martin ratio: Return relative to average drawdown	10.64	5.89	+4.75

LGUG.L vs. UKG5.L - Sharpe Ratio Comparison

The current LGUG.L Sharpe Ratio is 2.27, which is higher than the UKG5.L Sharpe Ratio of 1.73. The chart below compares the historical Sharpe Ratios of LGUG.L and UKG5.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. UKG5.L - Drawdown Comparison

The maximum LGUG.L drawdown since its inception was -30.90%, which is greater than UKG5.L's maximum drawdown of -9.62%. Use the drawdown chart below to compare losses from any high point for LGUG.L and UKG5.L.

Drawdown Indicators

	LGUG.L	UKG5.L	Difference
Max Drawdown Largest peak-to-trough decline	-30.90%	-9.62%	-21.28%
Max Drawdown (1Y) Largest decline over 1 year	-8.01%	-1.87%	-6.14%
Max Drawdown (3Y) Largest decline over 3 years	-21.49%	-1.87%	-19.62%
Max Drawdown (5Y) Largest decline over 5 years	-21.49%	-9.11%	-12.38%
Current Drawdown Current decline from peak	-1.57%	0.00%	-1.57%
Average Drawdown Average peak-to-trough decline	-7.12%	-2.45%	-4.67%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.40%	0.56%	+1.84%

Volatility

LGUG.L vs. UKG5.L - Volatility Comparison

L&G US Equity UCITS ETF (LGUG.L) has a higher volatility of 3.67% compared to L&G UK Gilt 0-5 Year UCITS ETF (UKG5.L) at 0.51%. This indicates that LGUG.L's price experiences larger fluctuations and is considered to be riskier than UKG5.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	LGUG.L	UKG5.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.67%	0.51%	+3.16%
Volatility (6M) Calculated over the trailing 6-month period	8.08%	1.70%	+6.38%
Volatility (1Y) Calculated over the trailing 1-year period	11.24%	1.88%	+9.36%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	20.33%	2.51%	+17.82%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	21.46%	2.40%	+19.06%

LGUG.L vs. UKG5.L - Expense Ratio Comparison

LGUG.L has a 0.05% expense ratio, which is lower than UKG5.L's 0.06% 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. UKG5.L - Dividend Comparison

LGUG.L has not paid dividends to shareholders, while UKG5.L's dividend yield for the trailing twelve months is around 3.91%.

Position	TTM	2025	2024	2023	2022
LGUG.L L&G US Equity UCITS ETF	0.00%	0.00%	0.00%	0.00%	0.00%
UKG5.L L&G UK Gilt 0-5 Year UCITS ETF	3.91%	3.94%	3.66%	2.02%	0.04%

Frequently Asked Questions

Can I hold both LGUG.L and UKG5.L in my portfolio?

LGUG.L and UKG5.L have a correlation of 0.15, 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 UKG5.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 UKG5.L?

LGUG.L is cheaper with a 0.05% expense ratio, compared with 0.06% for UKG5.L.

What is the main difference between LGUG.L and UKG5.L?

LGUG.L is categorized as Large Cap Blend Equities, while UKG5.L is European Government Bonds. LGUG.L tracks Russell 1000 TR USD, while UKG5.L tracks FTSE Act UK Cnvt Gilts All Stocks TR GBP. Their fees differ too: 0.05% for LGUG.L and 0.06% for UKG5.L.