OP2E.DE vs. LGGE.DE
OP2E.DE (Ossiam Bloomberg Eurozone PAB NR UCITS ETF (EUR)) and LGGE.DE (L&G Quality Equity Dividends ESG Exclusions Europe ex-UK UCITS ETF) are both Europe Equities funds - OP2E.DE tracks the Bloomberg PAB Eurozone DM Large & Mid Cap while LGGE.DE tracks the FTSE Developed Europe ex UK All Cap ex CW ex TC ex REITS Dividend Growth with Quality. Both are passively managed. Over the past 3 years, OP2E.DE returned 11.48%/yr vs 24.04%/yr for LGGE.DE. Their correlation of 0.82 suggests significant overlap in exposure. OP2E.DE charges 0.17%/yr vs 0.25%/yr for LGGE.DE.
Performance
OP2E.DE vs. LGGE.DE - Performance Comparison
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Returns By Period
In the year-to-date period, OP2E.DE achieves a 6.95% return, which is significantly lower than LGGE.DE's 11.27% return.
OP2E.DE
- 1D
- 0.77%
- 1M
- 3.64%
- YTD
- 6.95%
- 6M
- 8.04%
- 1Y
- 12.68%
- 3Y*
- 11.48%
- 5Y*
- —
- 10Y*
- —
LGGE.DE
- 1D
- 0.15%
- 1M
- -0.22%
- YTD
- 11.27%
- 6M
- 15.32%
- 1Y
- 26.49%
- 3Y*
- 24.04%
- 5Y*
- —
- 10Y*
- —
OP2E.DE vs. LGGE.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
OP2E.DE Ossiam Bloomberg Eurozone PAB NR UCITS ETF (EUR) | 6.95% | 15.46% | 7.37% | 19.25% | 0.85% |
LGGE.DE L&G Quality Equity Dividends ESG Exclusions Europe ex-UK UCITS ETF | 11.27% | 38.29% | 14.07% | 17.18% | 5.65% |
Correlation
The correlation between OP2E.DE and LGGE.DE is 0.78, 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 | 0.78 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.79 |
Correlation (All Time) Calculated using the full available price history since Aug 23, 2022 | 0.82 |
The correlation between OP2E.DE and LGGE.DE has been stable across timeframes, ranging from 0.78 to 0.82 - a consistent structural relationship.
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Return for Risk
OP2E.DE vs. LGGE.DE — Risk / Return Rank
OP2E.DE
LGGE.DE
OP2E.DE vs. LGGE.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Ossiam Bloomberg Eurozone PAB NR UCITS ETF (EUR) (OP2E.DE) and L&G Quality Equity Dividends ESG Exclusions Europe ex-UK UCITS ETF (LGGE.DE). 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.
| OP2E.DE | LGGE.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.33 | ||
| Sortino ratioReturn per unit of downside risk | -1.59 | ||
| Omega ratioGain probability vs. loss probability | 1.16 | 1.40 | -0.23 |
| Calmar ratioReturn relative to maximum drawdown | 1.08 | 3.61 | -2.53 |
| Martin ratioReturn relative to average drawdown | 3.64 | 13.07 | -9.43 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| OP2E.DE | LGGE.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.86 | 2.19 | -1.33 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.86 | 1.13 | -0.27 |
Drawdowns
OP2E.DE vs. LGGE.DE - Drawdown Comparison
The maximum OP2E.DE drawdown since its inception was -16.56%, smaller than the maximum LGGE.DE drawdown of -20.11%. Use the drawdown chart below to compare losses from any high point for OP2E.DE and LGGE.DE.
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Drawdown Indicators
| OP2E.DE | LGGE.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -16.56% | -20.11% | +3.55% |
Max Drawdown (1Y)Largest decline over 1 year | -11.92% | -7.28% | -4.64% |
Max Drawdown (3Y)Largest decline over 3 years | -16.56% | -14.71% | -1.85% |
Current DrawdownCurrent decline from peak | -0.25% | -2.09% | +1.84% |
Average DrawdownAverage peak-to-trough decline | -2.85% | -3.23% | +0.38% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.53% | 2.01% | +1.52% |
Volatility
OP2E.DE vs. LGGE.DE - Volatility Comparison
Ossiam Bloomberg Eurozone PAB NR UCITS ETF (EUR) (OP2E.DE) has a higher volatility of 4.94% compared to L&G Quality Equity Dividends ESG Exclusions Europe ex-UK UCITS ETF (LGGE.DE) at 3.60%. This indicates that OP2E.DE's price experiences larger fluctuations and is considered to be riskier than LGGE.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| OP2E.DE | LGGE.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.94% | 3.60% | +1.34% |
Volatility (6M)Calculated over the trailing 6-month period | 12.42% | 9.47% | +2.95% |
Volatility (1Y)Calculated over the trailing 1-year period | 14.98% | 11.99% | +2.99% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 15.18% | 14.60% | +0.58% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.18% | 14.60% | +0.58% |
OP2E.DE vs. LGGE.DE - Expense Ratio Comparison
OP2E.DE has a 0.17% expense ratio, which is lower than LGGE.DE's 0.25% 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
OP2E.DE vs. LGGE.DE - Dividend Comparison
OP2E.DE has not paid dividends to shareholders, while LGGE.DE's dividend yield for the trailing twelve months is around 3.13%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|---|
LGGE.DE L&G Quality Equity Dividends ESG Exclusions Europe ex-UK UCITS ETF | 3.13% | 3.47% | 4.37% | 4.43% | 4.18% | 1.52% |
OP2E.DE Ossiam Bloomberg Eurozone PAB NR UCITS ETF (EUR) | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
OP2E.DE and LGGE.DE have a correlation of 0.78, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, OP2E.DE is cheaper at 0.17% per year. The better choice depends on whether you care most about return, fees, risk, or income.
OP2E.DE is cheaper with a 0.17% expense ratio, compared with 0.25% for LGGE.DE.
OP2E.DE tracks Bloomberg PAB Eurozone DM Large & Mid Cap, while LGGE.DE tracks FTSE Developed Europe ex UK All Cap ex CW ex TC ex REITS Dividend Growth with Quality. They also come from different issuers: Natixis and Legal & General. Their fees differ too: 0.17% for OP2E.DE and 0.25% for LGGE.DE.
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