UB03.L vs. LCPE.L
UB03.L (UBS ETF (LU) FTSE 100 UCITS ETF (GBP) A-dis) and LCPE.L (Ossiam Shiller Barclays Cape Europe Sector Value TR UCITS) are both Europe Equities funds - UB03.L tracks the FTSE AllSh TR GBP while LCPE.L tracks the MSCI Europe NR EUR. Both are passively managed. Over the past 10 years, UB03.L returned 8.91%/yr vs 10.16%/yr for LCPE.L. At a 0.29 correlation, their price movements are largely independent. UB03.L charges 0.20%/yr vs 0.65%/yr for LCPE.L.
Performance
UB03.L vs. LCPE.L - Performance Comparison
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Returns By Period
In the year-to-date period, UB03.L achieves a 5.64% return, which is significantly lower than LCPE.L's 14.20% return. Over the past 10 years, UB03.L has underperformed LCPE.L with an annualized return of 8.91%, while LCPE.L has yielded a comparatively higher 10.16% annualized return.
UB03.L
- 1D
- 0.29%
- 1M
- 1.62%
- YTD
- 5.64%
- 6M
- 8.14%
- 1Y
- 20.72%
- 3Y*
- 15.41%
- 5Y*
- 11.59%
- 10Y*
- 8.91%
LCPE.L
- 1D
- 0.39%
- 1M
- 3.01%
- YTD
- 14.20%
- 6M
- 14.45%
- 1Y
- 27.63%
- 3Y*
- 11.83%
- 5Y*
- 9.64%
- 10Y*
- 10.16%
UB03.L vs. LCPE.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
UB03.L UBS ETF (LU) FTSE 100 UCITS ETF (GBP) A-dis | 5.64% | 26.20% | 9.58% | 8.35% | 3.14% | 16.12% | -10.39% | 17.37% | -7.12% | 9.91% |
LCPE.L Ossiam Shiller Barclays Cape Europe Sector Value TR UCITS | 14.20% | 18.88% | -2.83% | 10.70% | 0.29% | 16.28% | 8.38% | 12.94% | -2.26% | 9.54% |
Correlation
The correlation between UB03.L and LCPE.L is 0.60, 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 | 0.60 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.38 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.33 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.29 |
Correlation (All Time) Calculated using the full available price history since Feb 17, 2015 | 0.29 |
Over the past year, UB03.L and LCPE.L have become more correlated (0.60) than their long-term average of 0.29, meaning their price movements have been converging.
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Return for Risk
UB03.L vs. LCPE.L — Risk / Return Rank
UB03.L
LCPE.L
UB03.L vs. LCPE.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for UBS ETF (LU) FTSE 100 UCITS ETF (GBP) A-dis (UB03.L) and Ossiam Shiller Barclays Cape Europe Sector Value TR UCITS (LCPE.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.
| UB03.L | LCPE.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.44 | ||
| Sortino ratioReturn per unit of downside risk | -0.68 | ||
| Omega ratioGain probability vs. loss probability | 1.37 | 1.43 | -0.06 |
| Calmar ratioReturn relative to maximum drawdown | 2.66 | 4.13 | -1.47 |
| Martin ratioReturn relative to average drawdown | 8.61 | 13.66 | -5.05 |
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
| UB03.L | LCPE.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.00 | 2.44 | -0.44 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 1.28 | 1.04 | +0.25 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.87 | 1.20 | -0.33 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.83 | 0.98 | -0.16 |
Drawdowns
UB03.L vs. LCPE.L - Drawdown Comparison
The maximum UB03.L drawdown since its inception was -33.84%, which is greater than LCPE.L's maximum drawdown of -27.05%. Use the drawdown chart below to compare losses from any high point for UB03.L and LCPE.L.
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Drawdown Indicators
| UB03.L | LCPE.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -33.84% | -27.05% | -6.79% |
Max Drawdown (1Y)Largest decline over 1 year | -9.09% | -6.66% | -2.43% |
Max Drawdown (3Y)Largest decline over 3 years | -12.11% | -12.39% | +0.28% |
Max Drawdown (5Y)Largest decline over 5 years | -12.11% | -12.39% | +0.28% |
Max Drawdown (10Y)Largest decline over 10 years | -33.84% | -27.05% | -6.79% |
Current DrawdownCurrent decline from peak | -4.00% | -2.71% | -1.29% |
Average DrawdownAverage peak-to-trough decline | -4.91% | -3.52% | -1.39% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.11% | 2.02% | +1.09% |
Volatility
UB03.L vs. LCPE.L - Volatility Comparison
UBS ETF (LU) FTSE 100 UCITS ETF (GBP) A-dis (UB03.L) has a higher volatility of 4.06% compared to Ossiam Shiller Barclays Cape Europe Sector Value TR UCITS (LCPE.L) at 3.81%. This indicates that UB03.L's price experiences larger fluctuations and is considered to be riskier than LCPE.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| UB03.L | LCPE.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.06% | 3.81% | +0.25% |
Volatility (6M)Calculated over the trailing 6-month period | 9.74% | 8.48% | +1.26% |
Volatility (1Y)Calculated over the trailing 1-year period | 12.08% | 11.29% | +0.79% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.53% | 17.74% | -0.21% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 20.97% | 20.60% | +0.37% |
UB03.L vs. LCPE.L - Expense Ratio Comparison
UB03.L has a 0.20% expense ratio, which is lower than LCPE.L's 0.65% expense ratio.
Dividends
UB03.L vs. LCPE.L - Dividend Comparison
UB03.L's dividend yield for the trailing twelve months is around 2.71%, while LCPE.L has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
LCPE.L Ossiam Shiller Barclays Cape Europe Sector Value TR UCITS | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
UB03.L UBS ETF (LU) FTSE 100 UCITS ETF (GBP) A-dis | 2.71% | 2.92% | 3.75% | 3.63% | 3.69% | 3.10% | 3.72% | 4.13% | 4.21% | 3.30% | 3.61% | 4.14% |
Frequently Asked Questions
UB03.L and LCPE.L have a correlation of 0.60, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, UB03.L is cheaper at 0.20% per year. The better choice depends on whether you care most about return, fees, risk, or income.
UB03.L is cheaper with a 0.20% expense ratio, compared with 0.65% for LCPE.L.
UB03.L tracks FTSE AllSh TR GBP, while LCPE.L tracks MSCI Europe NR EUR. They also come from different issuers: UBS and Natixis. Their fees differ too: 0.20% for UB03.L and 0.65% for LCPE.L.
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