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LLOY.L vs. IAEX.L
Performance
Return for Risk
Drawdowns
Volatility
Dividends

LLOY.L vs. IAEX.L

Last updated Jun 16, 2026

LLOY.L (Lloyds Banking Group plc) is a stock, while IAEX.L (iShares AEX UCITS ETF EUR (Dist)) is Europe Equities fund tracking the Euronext AEX All Share TR EUR. Over the past 10 years, LLOY.L returned 8.92%/yr vs 13.40%/yr for IAEX.L. At a 0.42 correlation, their price movements are largely independent.

Performance

LLOY.L vs. IAEX.L - Performance Comparison

The chart below illustrates the hypothetical performance of a £10,000 investment in Lloyds Banking Group plc (LLOY.L) and iShares AEX UCITS ETF EUR (Dist) (IAEX.L). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, LLOY.L achieves a 7.04% return, which is significantly lower than IAEX.L's 13.70% return. Over the past 10 years, LLOY.L has underperformed IAEX.L with an annualized return of 8.92%, while IAEX.L has yielded a comparatively higher 13.40% annualized return.

LLOY.L

1D
0.29%
1M
9.13%
YTD
7.04%
6M
10.52%
1Y
39.62%
3Y*
38.24%
5Y*
22.35%
10Y*
8.92%

IAEX.L

1D
-0.37%
1M
5.77%
YTD
13.70%
6M
13.17%
1Y
21.05%
3Y*
14.59%
5Y*
10.42%
10Y*
13.40%
*Multi-year figures are annualized to reflect compound growth (CAGR)

LLOY.L vs. IAEX.L - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
LLOY.L
Lloyds Banking Group plc		7.04%88.33%21.09%10.91%-0.38%34.81%-41.70%27.49%-20.02%11.38%
IAEX.L
iShares AEX UCITS ETF EUR (Dist)		13.70%16.14%8.60%14.11%-6.28%21.00%10.97%21.66%-7.74%20.82%

Correlation

The correlation between LLOY.L and IAEX.L is 0.49, which is low. Their price movements are largely independent, making them effective diversification partners.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.49

Correlation (3Y)
Calculated over the trailing 3-year period

0.42

Correlation (5Y)
Calculated over the trailing 5-year period

0.44

Correlation (10Y)
Calculated over the trailing 10-year period

0.37

Correlation (All Time)
Calculated using the full available price history since Aug 25, 2006

0.42

The correlation between LLOY.L and IAEX.L shifts across timeframes, from 0.37 (10 years) to 0.49 (1 year), reflecting how their relationship changes across market environments.

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Lloyds Banking Group plc

iShares AEX UCITS ETF EUR (Dist)

Often compared with LLOY.L:
LLOY.L vs. NWG.LLLOY.L vs. HSBCLLOY.L vs. BA.LLLOY.L vs. HSBA.LLLOY.L vs. FITGXLLOY.L vs. RMAP.LLLOY.L vs. RYCEY
Often compared with IAEX.L:
IAEX.L vs. CSPX.LIAEX.L vs. CNDX.LIAEX.L vs. ^GSPCIAEX.L vs. VOOIAEX.L vs. VGTIAEX.L vs. VUSA.LIAEX.L vs. IUSA.L

Return for Risk

LLOY.L vs. IAEX.L — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
LLOY.L
LLOY.L Risk / Return Rank: 7878
Overall Rank
LLOY.L Sharpe Ratio Rank: 8181
Sharpe Ratio Rank
LLOY.L Sortino Ratio Rank: 7878
Sortino Ratio Rank
LLOY.L Omega Ratio Rank: 7676
Omega Ratio Rank
LLOY.L Calmar Ratio Rank: 7676
Calmar Ratio Rank
LLOY.L Martin Ratio Rank: 7878
Martin Ratio Rank
IAEX.L
IAEX.L Risk / Return Rank: 5252
Overall Rank
IAEX.L Sharpe Ratio Rank: 5151
Sharpe Ratio Rank
IAEX.L Sortino Ratio Rank: 5050
Sortino Ratio Rank
IAEX.L Omega Ratio Rank: 4949
Omega Ratio Rank
IAEX.L Calmar Ratio Rank: 5959
Calmar Ratio Rank
IAEX.L Martin Ratio Rank: 5050
Martin Ratio Rank
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.

LLOY.L vs. IAEX.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Lloyds Banking Group plc (LLOY.L) and iShares AEX UCITS ETF EUR (Dist) (IAEX.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.

LLOY.LIAEX.LDifference
Sharpe ratioReturn per unit of total volatility
1.42
1.64

-0.23

Sortino ratioReturn per unit of downside risk
2.12
2.31

-0.20

Omega ratioGain probability vs. loss probability

1.26

1.30

-0.04

Calmar ratioReturn relative to maximum drawdown

2.00

2.78

-0.78

Martin ratioReturn relative to average drawdown

5.54

8.06

-2.51

LLOY.L vs. IAEX.L - Sharpe Ratio Comparison

The current LLOY.L Sharpe Ratio is 1.42, which is comparable to the IAEX.L Sharpe Ratio of 1.64. The chart below compares the historical Sharpe Ratios of LLOY.L and IAEX.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.

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Drawdowns

LLOY.L vs. IAEX.L - Drawdown Comparison

The maximum LLOY.L drawdown since its inception was -91.44%, which is greater than IAEX.L's maximum drawdown of -63.74%. Use the drawdown chart below to compare losses from any high point for LLOY.L and IAEX.L.

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Drawdown Indicators

LLOY.LIAEX.LDifference

Max Drawdown

Largest peak-to-trough decline

-91.44%

-63.74%

-27.70%

Max Drawdown (1Y)

Largest decline over 1 year

-19.68%

-7.54%

-12.14%

Max Drawdown (3Y)

Largest decline over 3 years

-19.68%

-12.80%

-6.88%

Max Drawdown (5Y)

Largest decline over 5 years

-25.65%

-21.96%

-3.69%

Max Drawdown (10Y)

Largest decline over 10 years

-64.34%

-28.85%

-35.49%

Current Drawdown

Current decline from peak

-6.61%

-0.37%

-6.24%

Average Drawdown

Average peak-to-trough decline

-52.56%

-16.63%

-35.93%

Ulcer Index

Depth and duration of drawdowns from previous peaks

7.12%

2.60%

+4.52%

Volatility

LLOY.L vs. IAEX.L - Volatility Comparison

Lloyds Banking Group plc (LLOY.L) has a higher volatility of 7.85% compared to iShares AEX UCITS ETF EUR (Dist) (IAEX.L) at 3.00%. This indicates that LLOY.L's price experiences larger fluctuations and is considered to be riskier than IAEX.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

LLOY.LIAEX.LDifference

Volatility (1M)

Calculated over the trailing 1-month period

7.85%

3.00%

+4.85%

Volatility (6M)

Calculated over the trailing 6-month period

21.31%

10.37%

+10.94%

Volatility (1Y)

Calculated over the trailing 1-year period

27.89%

12.77%

+15.12%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

27.22%

15.20%

+12.02%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

30.65%

16.16%

+14.49%

Dividends

LLOY.L vs. IAEX.L - Dividend Comparison

LLOY.L's dividend yield for the trailing twelve months is around 3.56%, more than IAEX.L's 0.96% yield.

PositionTTM20252024202320222021202020192018201720162015
IAEX.L
iShares AEX UCITS ETF EUR (Dist)		0.96%2.03%2.16%2.09%2.20%1.57%1.41%2.89%3.11%2.70%2.73%2.85%
LLOY.L
Lloyds Banking Group plc		3.56%3.39%5.29%5.28%4.69%2.59%0.00%5.22%6.02%2.20%2.16%2.05%

Frequently Asked Questions

LLOY.L and IAEX.L have a correlation of 0.49, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

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