SPYF.DE vs. LCUK.DE

Last updated Jun 5, 2026

SPYF.DE (SPDR FTSE UK All Share UCITS ETF) and LCUK.DE (Lyxor Core UK Equity All Cap (DR) UCITS ETF - Dist) are both Europe Equities funds - SPYF.DE tracks the FTSE All-Share while LCUK.DE tracks the FTSE AllSh TR GBP. Both are passively managed. Over the past 5 years, SPYF.DE returned 10.06%/yr vs 10.57%/yr for LCUK.DE. With a 0.98 correlation, they move nearly in lockstep. SPYF.DE charges 0.20%/yr vs 0.04%/yr for LCUK.DE.

Performance

SPYF.DE vs. LCUK.DE - Performance Comparison

The chart below illustrates the hypothetical performance of a €10,000 investment in SPDR FTSE UK All Share UCITS ETF (SPYF.DE) and Lyxor Core UK Equity All Cap (DR) UCITS ETF - Dist (LCUK.DE). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both stocks are quite close, with SPYF.DE having a 6.71% return and LCUK.DE slightly lower at 6.49%.

SPYF.DE

• 1D: 0.16%
• 1M: -0.06%
• YTD: 6.71%
• 6M: 9.71%
• 1Y: 17.02%
• 3Y*: 13.97%
• 5Y*: 10.06%
• 10Y*: 7.48%

LCUK.DE

• 1D: 0.13%
• 1M: -0.44%
• YTD: 6.49%
• 6M: 9.65%
• 1Y: 16.97%
• 3Y*: 14.46%
• 5Y*: 10.57%
• 10Y*: —

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

SPYF.DE vs. LCUK.DE - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
SPYF.DE SPDR FTSE UK All Share UCITS ETF	6.71%	17.92%	13.59%	10.43%	-5.65%	24.46%	-14.12%	27.89%	-6.48%
LCUK.DE Lyxor Core UK Equity All Cap (DR) UCITS ETF - Dist	6.49%	19.79%	13.71%	9.61%	-4.22%	25.64%	-15.89%	26.84%	-5.66%

Correlation

The correlation between SPYF.DE and LCUK.DE is 0.98 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.98
Correlation (3Y) Calculated over the trailing 3-year period	0.98
Correlation (5Y) Calculated over the trailing 5-year period	0.98
Correlation (All Time) Calculated using the full available price history since Mar 22, 2018	0.98

The correlation between SPYF.DE and LCUK.DE has been stable across timeframes, ranging from 0.98 to 0.98 - a consistent structural relationship.

Return for Risk

SPYF.DE vs. LCUK.DE — Risk / Return Rank

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

SPYF.DE

SPYF.DE Risk / Return Rank: 43
SPYF.DE Sharpe Ratio Rank: 41
SPYF.DE Sortino Ratio Rank: 41
SPYF.DE Omega Ratio Rank: 41
SPYF.DE Calmar Ratio Rank: 46
SPYF.DE Martin Ratio Rank: 48

LCUK.DE

LCUK.DE Risk / Return Rank: 41
LCUK.DE Sharpe Ratio Rank: 40
LCUK.DE Sortino Ratio Rank: 38
LCUK.DE Omega Ratio Rank: 40
LCUK.DE Calmar Ratio Rank: 42
LCUK.DE Martin Ratio Rank: 45

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.

SPYF.DE vs. LCUK.DE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for SPDR FTSE UK All Share UCITS ETF (SPYF.DE) and Lyxor Core UK Equity All Cap (DR) UCITS ETF - Dist (LCUK.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.

	SPYF.DE	LCUK.DE	Difference
Sharpe ratio: Return per unit of total volatility	1.43	1.39	+0.04
Sortino ratio: Return per unit of downside risk	2.05	1.96	+0.09
Omega ratio: Gain probability vs. loss probability	1.26	1.26	0.00
Calmar ratio: Return relative to maximum drawdown	2.24	2.04	+0.21
Martin ratio: Return relative to average drawdown	7.97	7.27	+0.70
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

SPYF.DE vs. LCUK.DE - Sharpe Ratio Comparison

The current SPYF.DE Sharpe Ratio is 1.43, which is comparable to the LCUK.DE Sharpe Ratio of 1.39. The chart below compares the historical Sharpe Ratios of SPYF.DE and LCUK.DE, 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

	SPYF.DE	LCUK.DE	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.43	1.39	+0.04
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.71	0.74	-0.03
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.45	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.46	0.48	-0.03

Drawdowns

SPYF.DE vs. LCUK.DE - Drawdown Comparison

The maximum SPYF.DE drawdown since its inception was -41.53%, roughly equal to the maximum LCUK.DE drawdown of -41.10%. Use the drawdown chart below to compare losses from any high point for SPYF.DE and LCUK.DE.

Drawdown Indicators

	SPYF.DE	LCUK.DE	Difference
Max Drawdown Largest peak-to-trough decline	-41.53%	-41.10%	-0.43%
Max Drawdown (1Y) Largest decline over 1 year	-7.60%	-8.31%	+0.71%
Max Drawdown (3Y) Largest decline over 3 years	-17.17%	-16.69%	-0.48%
Max Drawdown (5Y) Largest decline over 5 years	-17.17%	-16.69%	-0.48%
Max Drawdown (10Y) Largest decline over 10 years	-41.53%	—	—
Current Drawdown Current decline from peak	-2.22%	-2.84%	+0.62%
Average Drawdown Average peak-to-trough decline	-6.06%	-5.66%	-0.40%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.14%	2.33%	-0.19%

Volatility

SPYF.DE vs. LCUK.DE - Volatility Comparison

The current volatility for SPDR FTSE UK All Share UCITS ETF (SPYF.DE) is 4.30%, while Lyxor Core UK Equity All Cap (DR) UCITS ETF - Dist (LCUK.DE) has a volatility of 4.62%. This indicates that SPYF.DE experiences smaller price fluctuations and is considered to be less risky than LCUK.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SPYF.DE	LCUK.DE	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.30%	4.62%	-0.32%
Volatility (6M) Calculated over the trailing 6-month period	10.01%	10.28%	-0.27%
Volatility (1Y) Calculated over the trailing 1-year period	11.95%	12.17%	-0.22%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.00%	14.12%	-0.12%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.59%	17.10%	-0.51%

SPYF.DE vs. LCUK.DE - Expense Ratio Comparison

SPYF.DE has a 0.20% expense ratio, which is higher than LCUK.DE'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

SPYF.DE vs. LCUK.DE - Dividend Comparison

SPYF.DE has not paid dividends to shareholders, while LCUK.DE's dividend yield for the trailing twelve months is around 2.84%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019
LCUK.DE Lyxor Core UK Equity All Cap (DR) UCITS ETF - Dist	2.84%	3.03%	3.73%	3.09%	4.08%	3.76%	2.95%	3.36%
SPYF.DE SPDR FTSE UK All Share UCITS ETF	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both SPYF.DE and LCUK.DE in my portfolio?

With a correlation of 0.98, SPYF.DE and LCUK.DE 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, SPYF.DE or LCUK.DE?

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

Which ETF is cheaper, SPYF.DE or LCUK.DE?

LCUK.DE is cheaper with a 0.04% expense ratio, compared with 0.20% for SPYF.DE.

What is the main difference between SPYF.DE and LCUK.DE?

SPYF.DE tracks FTSE All-Share, while LCUK.DE tracks FTSE AllSh TR GBP. They also come from different issuers: State Street and Amundi. Their fees differ too: 0.20% for SPYF.DE and 0.04% for LCUK.DE.