SHLG.L vs. LOCK.L

Last updated Jun 5, 2026

SHLG.L (iShares Digital Security UCITS ETF USD (Dist)) and LOCK.L (iShares Digital Security UCITS ETF USD Acc) are both Technology Equities funds from iShares tracking the MSCI World/Information Tech NR USD. Both are passively managed. Over the past 5 years, SHLG.L returned 11.16%/yr vs 11.23%/yr for LOCK.L. With a 0.95 correlation, they move nearly in lockstep. Both charge a 0.40% expense ratio.

Performance

SHLG.L vs. LOCK.L - Performance Comparison

The chart below illustrates the hypothetical performance of a £10,000 investment in iShares Digital Security UCITS ETF USD (Dist) (SHLG.L) and iShares Digital Security UCITS ETF USD Acc (LOCK.L). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

SHLG.L is traded in GBP, while LOCK.L is traded in USD. To make them comparable, the LOCK.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 SHLG.L having a 19.45% return and LOCK.L slightly higher at 19.99%.

SHLG.L

• 1D: -2.36%
• 1M: 10.80%
• YTD: 19.45%
• 6M: 20.25%
• 1Y: 26.15%
• 3Y*: 18.72%
• 5Y*: 11.16%
• 10Y*: —

LOCK.L

• 1D: -1.95%
• 1M: 11.03%
• YTD: 19.99%
• 6M: 20.38%
• 1Y: 26.49%
• 3Y*: 18.87%
• 5Y*: 11.23%
• 10Y*: —

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

SHLG.L vs. LOCK.L - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
SHLG.L iShares Digital Security UCITS ETF USD (Dist)	19.45%	3.87%	18.54%	26.67%	-20.62%	20.85%
LOCK.L iShares Digital Security UCITS ETF USD Acc	19.95%	3.43%	18.88%	27.28%	-20.67%	20.09%

Correlation

The correlation between SHLG.L and LOCK.L is 0.94, 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	0.94
Correlation (3Y) Calculated over the trailing 3-year period	0.96
Correlation (5Y) Calculated over the trailing 5-year period	0.95
Correlation (All Time) Calculated using the full available price history since Feb 24, 2021	0.95

The correlation between SHLG.L and LOCK.L has been stable across timeframes, ranging from 0.94 to 0.96 - a consistent structural relationship.

SHLG.L vs. LOCK.L - Sectors Allocation Comparison

Sectors	SHLG.L	LOCK.L
Technology	84.2%	82.1%
Industrials	11.3%	12.8%
Real Estate	4.6%	5.2%
Basic Materials	-	-
Communication Services	-	-
Consumer Cyclical	-	-
Consumer Defensive	-	-
Energy	-	-
Financial Services	-	-
Healthcare	-	-
Utilities	-	-

Return for Risk

SHLG.L vs. LOCK.L — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

SHLG.L

SHLG.L Risk / Return Rank: 39
SHLG.L Sharpe Ratio Rank: 39
SHLG.L Sortino Ratio Rank: 39
SHLG.L Omega Ratio Rank: 40
SHLG.L Calmar Ratio Rank: 43
SHLG.L Martin Ratio Rank: 32

LOCK.L

LOCK.L Risk / Return Rank: 37
LOCK.L Sharpe Ratio Rank: 35
LOCK.L Sortino Ratio Rank: 35
LOCK.L Omega Ratio Rank: 34
LOCK.L Calmar Ratio Rank: 45
LOCK.L Martin Ratio Rank: 34

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.

SHLG.L vs. LOCK.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Digital Security UCITS ETF USD (Dist) (SHLG.L) and iShares Digital Security UCITS ETF USD Acc (LOCK.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.

	SHLG.L	LOCK.L	Difference
Sharpe ratio: Return per unit of total volatility	1.36	1.29	+0.07
Sortino ratio: Return per unit of downside risk	1.97	1.90	+0.07
Omega ratio: Gain probability vs. loss probability	1.25	1.24	+0.01
Calmar ratio: Return relative to maximum drawdown	2.06	2.10	-0.04
Martin ratio: Return relative to average drawdown	4.80	4.81	-0.01
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

SHLG.L vs. LOCK.L - Sharpe Ratio Comparison

The current SHLG.L Sharpe Ratio is 1.36, which is comparable to the LOCK.L Sharpe Ratio of 1.29. The chart below compares the historical Sharpe Ratios of SHLG.L and LOCK.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

	SHLG.L	LOCK.L	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.36	1.29	+0.07
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.59	0.56	+0.03
Sharpe Ratio (All Time) Calculated using the full available price history	0.62	0.59	+0.03

Drawdowns

SHLG.L vs. LOCK.L - Drawdown Comparison

The maximum SHLG.L drawdown since its inception was -27.07%, roughly equal to the maximum LOCK.L drawdown of -27.28%. Use the drawdown chart below to compare losses from any high point for SHLG.L and LOCK.L.

Drawdown Indicators

	SHLG.L	LOCK.L	Difference
Max Drawdown Largest peak-to-trough decline	-27.07%	-27.28%	+0.21%
Max Drawdown (1Y) Largest decline over 1 year	-12.65%	-12.55%	-0.10%
Max Drawdown (3Y) Largest decline over 3 years	-24.02%	-24.36%	+0.34%
Max Drawdown (5Y) Largest decline over 5 years	-27.07%	-27.28%	+0.21%
Current Drawdown Current decline from peak	-2.80%	-2.52%	-0.28%
Average Drawdown Average peak-to-trough decline	-9.50%	-8.06%	-1.44%
Ulcer Index Depth and duration of drawdowns from previous peaks	5.43%	5.49%	-0.06%

Volatility

SHLG.L vs. LOCK.L - Volatility Comparison

The current volatility for iShares Digital Security UCITS ETF USD (Dist) (SHLG.L) is 7.69%, while iShares Digital Security UCITS ETF USD Acc (LOCK.L) has a volatility of 8.23%. This indicates that SHLG.L experiences smaller price fluctuations and is considered to be less risky than LOCK.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SHLG.L	LOCK.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.69%	8.23%	-0.54%
Volatility (6M) Calculated over the trailing 6-month period	15.08%	16.47%	-1.39%
Volatility (1Y) Calculated over the trailing 1-year period	19.11%	20.42%	-1.31%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.97%	20.06%	-1.09%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.87%	20.30%	-1.43%

SHLG.L vs. LOCK.L - Expense Ratio Comparison

Both SHLG.L and LOCK.L have an expense ratio of 0.40%.

Dividends

SHLG.L vs. LOCK.L - Dividend Comparison

SHLG.L's dividend yield for the trailing twelve months is around 0.33%, while LOCK.L has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021
LOCK.L iShares Digital Security UCITS ETF USD Acc	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
SHLG.L iShares Digital Security UCITS ETF USD (Dist)	0.33%	0.39%	0.47%	0.43%	0.62%	0.66%

Frequently Asked Questions

Can I hold both SHLG.L and LOCK.L in my portfolio?

With a correlation of 0.94, SHLG.L and LOCK.L move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which ETF is better, SHLG.L or LOCK.L?

Both ETFs have the same 0.40% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, SHLG.L or LOCK.L?

SHLG.L and LOCK.L have the same expense ratio: 0.40% per year.

What is the main difference between SHLG.L and LOCK.L?

Both ETFs track MSCI World/Information Tech NR USD.