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SMEA.L vs. LCUK.L
Performance
Return for Risk
Drawdowns
Volatility
Dividends

SMEA.L vs. LCUK.L

Last updated Jun 5, 2026

SMEA.L (iShares Core MSCI Europe UCITS ETF EUR (Acc)) and LCUK.L (Lyxor Core UK Equity All Cap (DR) UCITS ETF - Dist) are both Europe Equities funds - SMEA.L tracks the MSCI Europe NR EUR while LCUK.L tracks the FTSE AllSh TR GBP. Both are passively managed. Over the past 5 years, SMEA.L returned 10.14%/yr vs 10.01%/yr for LCUK.L. Their correlation of 0.85 suggests significant overlap in exposure. SMEA.L charges 0.12%/yr vs 0.04%/yr for LCUK.L.

Performance

SMEA.L vs. LCUK.L - Performance Comparison

The chart below illustrates the hypothetical performance of a £10,000 investment in iShares Core MSCI Europe UCITS ETF EUR (Acc) (SMEA.L) and Lyxor Core UK Equity All Cap (DR) UCITS ETF - Dist (LCUK.L). The values are adjusted to include any dividend payments, if applicable.

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Different Trading Currencies

SMEA.L is traded in GBp, while LCUK.L is traded in GBP. To make them comparable, the LCUK.L values have been converted to GBp using the latest available exchange rates.

Returns By Period

In the year-to-date period, SMEA.L achieves a 6.71% return, which is significantly higher than LCUK.L's 5.93% return.

SMEA.L

1D
0.75%
1M
3.62%
YTD
6.71%
6M
8.81%
1Y
19.31%
3Y*
13.80%
5Y*
10.14%
10Y*
10.22%

LCUK.L

1D
0.54%
1M
1.88%
YTD
5.93%
6M
5.05%
1Y
16.53%
3Y*
13.40%
5Y*
10.01%
10Y*
—
*Multi-year figures are annualized to reflect compound growth (CAGR)

SMEA.L vs. LCUK.L - Yearly Performance Comparison

2026 (YTD)20252024202320222021202020192018
SMEA.L
iShares Core MSCI Europe UCITS ETF EUR (Acc)		6.71%25.88%3.68%13.36%-3.48%16.94%2.44%19.63%-2.90%
LCUK.L
Lyxor Core UK Equity All Cap (DR) UCITS ETF - Dist		5.93%21.01%9.05%7.25%2.15%18.06%-11.83%18.73%-0.85%

Correlation

The correlation between SMEA.L and LCUK.L is 0.75, 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

0.75

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

0.80

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

0.82

Correlation (All Time)
Calculated using the full available price history since Mar 23, 2018

0.85

The correlation between SMEA.L and LCUK.L has been stable across timeframes, ranging from 0.75 to 0.85 - a consistent structural relationship.

SMEA.L vs. LCUK.L - Sectors Allocation Comparison

Sectors
SMEA.L
LCUK.L

Financial Services

23.3%
24.2%

Industrials

19.7%
13.9%

Healthcare

13.1%
13.2%

Technology

8.6%
0.9%

Consumer Defensive

8.4%
13.7%

Consumer Cyclical

6.3%
5.2%

Basic Materials

5.6%
8.3%

Energy

5.4%
11.1%

Utilities

5.1%
5.1%

Communication Services

3.7%
3.0%

Real Estate

0.8%
1.4%

Financial Services

SMEA.L
23.3%
LCUK.L
24.2%

Industrials

SMEA.L
19.7%
LCUK.L
13.9%

Healthcare

SMEA.L
13.1%
LCUK.L
13.2%

Technology

SMEA.L
8.6%
LCUK.L
0.9%

Consumer Defensive

SMEA.L
8.4%
LCUK.L
13.7%

Consumer Cyclical

SMEA.L
6.3%
LCUK.L
5.2%

Basic Materials

SMEA.L
5.6%
LCUK.L
8.3%

Energy

SMEA.L
5.4%
LCUK.L
11.1%

Utilities

SMEA.L
5.1%
LCUK.L
5.1%

Communication Services

SMEA.L
3.7%
LCUK.L
3.0%

Real Estate

SMEA.L
0.8%
LCUK.L
1.4%

Compare stocks, funds, or ETFs

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iShares Core MSCI Europe UCITS ETF EUR (Acc)

Lyxor Core UK Equity All Cap (DR) UCITS ETF - Dist

Often compared with SMEA.L:
SMEA.L vs. S600.LSMEA.L vs. MEUD.LSMEA.L vs. IEUSSMEA.L vs. CSPX.LSMEA.L vs. CS51.LSMEA.L vs. SWDA.LSMEA.L vs. EXI1.DE
Often compared with LCUK.L:
LCUK.L vs. LGUK.LLCUK.L vs. JURE.LLCUK.L vs. XASX.LLCUK.L vs. VUKG.LLCUK.L vs. SMGB.LLCUK.L vs. IITU.LLCUK.L vs. VUKE.L

Return for Risk

SMEA.L vs. LCUK.L — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
SMEA.L
SMEA.L Risk / Return Rank: 4444
Overall Rank
SMEA.L Sharpe Ratio Rank: 4747
Sharpe Ratio Rank
SMEA.L Sortino Ratio Rank: 4747
Sortino Ratio Rank
SMEA.L Omega Ratio Rank: 4949
Omega Ratio Rank
SMEA.L Calmar Ratio Rank: 3737
Calmar Ratio Rank
SMEA.L Martin Ratio Rank: 4141
Martin Ratio Rank
LCUK.L
LCUK.L Risk / Return Rank: 3838
Overall Rank
LCUK.L Sharpe Ratio Rank: 4040
Sharpe Ratio Rank
LCUK.L Sortino Ratio Rank: 3838
Sortino Ratio Rank
LCUK.L Omega Ratio Rank: 4040
Omega Ratio Rank
LCUK.L Calmar Ratio Rank: 3737
Calmar Ratio Rank
LCUK.L Martin Ratio Rank: 3838
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.

SMEA.L vs. LCUK.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Core MSCI Europe UCITS ETF EUR (Acc) (SMEA.L) and Lyxor Core UK Equity All Cap (DR) UCITS ETF - Dist (LCUK.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.

SMEA.LLCUK.LDifference
Sharpe ratioReturn per unit of total volatility
1.60
1.38

+0.22

Sortino ratioReturn per unit of downside risk
2.29
1.92

+0.36

Omega ratioGain probability vs. loss probability

1.30

1.25

+0.05

Calmar ratioReturn relative to maximum drawdown

1.82

1.80

+0.02

Martin ratioReturn relative to average drawdown

6.51

5.79

+0.72

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

SMEA.L vs. LCUK.L - Sharpe Ratio Comparison

The current SMEA.L Sharpe Ratio is 1.60, which is comparable to the LCUK.L Sharpe Ratio of 1.38. The chart below compares the historical Sharpe Ratios of SMEA.L and LCUK.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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Sharpe Ratios by Period

SMEA.LLCUK.LDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

1.60

1.38

+0.22

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.74

0.77

-0.03

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.70

—

—

Sharpe Ratio (All Time)

Calculated using the full available price history

0.60

0.51

+0.09

Drawdowns

SMEA.L vs. LCUK.L - Drawdown Comparison

The maximum SMEA.L drawdown since its inception was -28.48%, smaller than the maximum LCUK.L drawdown of -35.54%. Use the drawdown chart below to compare losses from any high point for SMEA.L and LCUK.L.

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Drawdown Indicators

SMEA.LLCUK.LDifference

Max Drawdown

Largest peak-to-trough decline

-28.48%

-35.54%

+7.06%

Max Drawdown (1Y)

Largest decline over 1 year

-10.56%

-9.13%

-1.43%

Max Drawdown (3Y)

Largest decline over 3 years

-12.46%

-12.65%

+0.19%

Max Drawdown (5Y)

Largest decline over 5 years

-15.76%

-12.65%

-3.11%

Max Drawdown (10Y)

Largest decline over 10 years

-28.48%

—

—

Current Drawdown

Current decline from peak

-1.27%

-3.98%

+2.71%

Average Drawdown

Average peak-to-trough decline

-4.54%

-4.97%

+0.43%

Ulcer Index

Depth and duration of drawdowns from previous peaks

2.96%

2.85%

+0.11%

Volatility

SMEA.L vs. LCUK.L - Volatility Comparison

iShares Core MSCI Europe UCITS ETF EUR (Acc) (SMEA.L) and Lyxor Core UK Equity All Cap (DR) UCITS ETF - Dist (LCUK.L) have volatilities of 3.91% and 3.76%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

SMEA.LLCUK.LDifference

Volatility (1M)

Calculated over the trailing 1-month period

3.91%

3.76%

+0.15%

Volatility (6M)

Calculated over the trailing 6-month period

10.09%

10.20%

-0.11%

Volatility (1Y)

Calculated over the trailing 1-year period

12.02%

11.92%

+0.10%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

13.64%

12.97%

+0.67%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

15.04%

15.69%

-0.65%

SMEA.L vs. LCUK.L - Expense Ratio Comparison

SMEA.L has a 0.12% expense ratio, which is higher than LCUK.L's 0.04% 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

SMEA.L vs. LCUK.L - Dividend Comparison

Neither SMEA.L nor LCUK.L has paid dividends to shareholders.

PositionTTM2025202420232022202120202019
LCUK.L
Lyxor Core UK Equity All Cap (DR) UCITS ETF - Dist		0.00%0.00%3.68%3.05%3.94%3.86%3.00%3.48%
SMEA.L
iShares Core MSCI Europe UCITS ETF EUR (Acc)		0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%

Frequently Asked Questions

SMEA.L and LCUK.L have a correlation of 0.75, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

On fees, LCUK.L is cheaper at 0.04% per year. The better choice depends on whether you care most about return, fees, risk, or income.

LCUK.L is cheaper with a 0.04% expense ratio, compared with 0.12% for SMEA.L.

SMEA.L tracks MSCI Europe NR EUR, while LCUK.L tracks FTSE AllSh TR GBP. They also come from different issuers: iShares and Amundi. Their fees differ too: 0.12% for SMEA.L and 0.04% for LCUK.L.

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