N4US.L vs. LGUS.L
N4US.L (Invesco JPX-Nikkei 400 UCITS ETF (USD Hdg)) and LGUS.L (L&G US Equity UCITS ETF) are both Global Equities funds - N4US.L tracks the Invesco JPX-Nikkei 400 UCITS ETF (USD Hdg) while LGUS.L tracks the L&G US Equity UCITS ETF. Both are passively managed. Over the past 5 years, N4US.L returned 22.54%/yr vs 12.82%/yr for LGUS.L. A 0.64 correlation means they provide meaningful diversification when combined. N4US.L charges 0.19%/yr vs 0.05%/yr for LGUS.L.
Performance
N4US.L vs. LGUS.L - Performance Comparison
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Returns By Period
In the year-to-date period, N4US.L achieves a 22.05% return, which is significantly higher than LGUS.L's 10.34% return.
N4US.L
- 1D
- -0.97%
- 1M
- 1.76%
- 6M
- 14.49%
- YTD
- 22.05%
- 1Y
- 50.55%
- 3Y*
- 29.24%
- 5Y*
- 22.54%
- 10Y*
- 16.63%
LGUS.L
- 1D
- 0.00%
- 1M
- 0.20%
- 6M
- 9.90%
- YTD
- 10.34%
- 1Y
- 21.64%
- 3Y*
- 20.40%
- 5Y*
- 12.82%
- 10Y*
- —
N4US.L vs. LGUS.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
N4US.L Invesco JPX-Nikkei 400 UCITS ETF (USD Hdg) | 22.05% | 30.25% | 23.77% | 35.97% | -1.05% | 11.18% | 10.79% | 19.49% | -10.72% |
LGUS.L L&G US Equity UCITS ETF | 10.34% | 17.98% | 25.09% | 28.66% | -20.46% | 27.91% | 21.16% | 30.91% | -9.25% |
Correlation
The correlation between N4US.L and LGUS.L is 0.61, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.61 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.54 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.61 |
Correlation (All Time) Calculated using the full available price history since Nov 9, 2018 | 0.64 |
The correlation between N4US.L and LGUS.L shifts across timeframes, from 0.54 (3 years) to 0.64 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
N4US.L vs. LGUS.L — Risk / Return Rank
N4US.L
LGUS.L
N4US.L vs. LGUS.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco JPX-Nikkei 400 UCITS ETF (USD Hdg) (N4US.L) and L&G US Equity UCITS ETF (LGUS.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.
| N4US.L | LGUS.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.80 | ||
| Sortino ratioReturn per unit of downside risk | +0.80 | ||
| Omega ratioGain probability vs. loss probability | 1.46 | 1.32 | +0.14 |
| Calmar ratioReturn relative to maximum drawdown | 5.38 | 2.59 | +2.79 |
| Martin ratioReturn relative to average drawdown | 18.45 | 9.99 | +8.46 |
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Drawdowns
N4US.L vs. LGUS.L - Drawdown Comparison
The maximum N4US.L drawdown since its inception was -30.94%, smaller than the maximum LGUS.L drawdown of -34.26%. Use the drawdown chart below to compare losses from any high point for N4US.L and LGUS.L.
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Drawdown Indicators
| N4US.L | LGUS.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -30.94% | -34.26% | +3.32% |
Max Drawdown (1Y)Largest decline over 1 year | -9.35% | -8.58% | -0.77% |
Max Drawdown (3Y)Largest decline over 3 years | -21.38% | -19.46% | -1.92% |
Max Drawdown (5Y)Largest decline over 5 years | -21.38% | -25.64% | +4.26% |
Max Drawdown (10Y)Largest decline over 10 years | -30.94% | — | — |
Current DrawdownCurrent decline from peak | -1.87% | -0.49% | -1.38% |
Average DrawdownAverage peak-to-trough decline | -6.78% | -5.30% | -1.48% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.73% | 2.23% | +0.50% |
Volatility
N4US.L vs. LGUS.L - Volatility Comparison
Invesco JPX-Nikkei 400 UCITS ETF (USD Hdg) (N4US.L) has a higher volatility of 6.06% compared to L&G US Equity UCITS ETF (LGUS.L) at 2.86%. This indicates that N4US.L's price experiences larger fluctuations and is considered to be riskier than LGUS.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| N4US.L | LGUS.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.06% | 2.86% | +3.20% |
Volatility (6M)Calculated over the trailing 6-month period | 15.47% | 9.41% | +6.06% |
Volatility (1Y)Calculated over the trailing 1-year period | 19.47% | 12.47% | +7.00% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 18.48% | 16.51% | +1.97% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.37% | 18.10% | +0.27% |
N4US.L vs. LGUS.L - Expense Ratio Comparison
N4US.L has a 0.19% expense ratio, which is higher than LGUS.L's 0.05% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
N4US.L vs. LGUS.L - Dividend Comparison
Neither N4US.L nor LGUS.L has paid dividends to shareholders.
Frequently Asked Questions
N4US.L and LGUS.L have a correlation of 0.61, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, LGUS.L is cheaper at 0.05% per year. The better choice depends on whether you care most about return, fees, risk, or income.
LGUS.L is cheaper with a 0.05% expense ratio, compared with 0.19% for N4US.L.
N4US.L tracks Invesco JPX-Nikkei 400 UCITS ETF (USD Hdg), while LGUS.L tracks L&G US Equity UCITS ETF. They also come from different issuers: Invesco and L&G. Their fees differ too: 0.19% for N4US.L and 0.05% for LGUS.L.
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