UB03.L vs. LCUK.L
UB03.L (UBS ETF (LU) FTSE 100 UCITS ETF (GBP) A-dis) and LCUK.L (Lyxor Core UK Equity All Cap (DR) UCITS ETF - Dist) are both Europe Equities funds tracking the FTSE AllSh TR GBP, from UBS and Amundi respectively. Both are passively managed. Over the past 5 years, UB03.L returned 11.52%/yr vs 9.89%/yr for LCUK.L. A 0.57 correlation means they provide meaningful diversification when combined. UB03.L charges 0.20%/yr vs 0.04%/yr for LCUK.L.
Performance
UB03.L vs. LCUK.L - Performance Comparison
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Different Trading Currencies
UB03.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
The year-to-date returns for both investments are quite close, with UB03.L having a 5.33% return and LCUK.L slightly higher at 5.36%.
UB03.L
- 1D
- -0.48%
- 1M
- -0.07%
- YTD
- 5.33%
- 6M
- 7.99%
- 1Y
- 20.78%
- 3Y*
- 15.30%
- 5Y*
- 11.52%
- 10Y*
- 8.87%
LCUK.L
- 1D
- -0.56%
- 1M
- 0.35%
- YTD
- 5.36%
- 6M
- 4.67%
- 1Y
- 16.18%
- 3Y*
- 13.12%
- 5Y*
- 9.89%
- 10Y*
- —
UB03.L vs. LCUK.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
UB03.L UBS ETF (LU) FTSE 100 UCITS ETF (GBP) A-dis | 5.33% | 26.20% | 9.58% | 8.35% | 3.14% | 16.12% | -10.39% | 17.37% | -3.20% |
LCUK.L Lyxor Core UK Equity All Cap (DR) UCITS ETF - Dist | 5.36% | 21.01% | 9.05% | 7.25% | 2.15% | 18.06% | -11.83% | 18.73% | -0.85% |
Correlation
The correlation between UB03.L and LCUK.L 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 | 0.57 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.55 |
Correlation (All Time) Calculated using the full available price history since Mar 23, 2018 | 0.57 |
Over the past year, UB03.L and LCUK.L have become more correlated (0.78) than their long-term average of 0.57, meaning their price movements have been converging.
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Return for Risk
UB03.L vs. LCUK.L — Risk / Return Rank
UB03.L
LCUK.L
UB03.L vs. LCUK.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 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.
| UB03.L | LCUK.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.66 | ||
| Sortino ratioReturn per unit of downside risk | +0.93 | ||
| Omega ratioGain probability vs. loss probability | 1.37 | 1.25 | +0.12 |
| Calmar ratioReturn relative to maximum drawdown | 2.67 | 1.76 | +0.91 |
| Martin ratioReturn relative to average drawdown | 8.68 | 5.69 | +2.99 |
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 | LCUK.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.01 | 1.35 | +0.66 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 1.28 | 0.76 | +0.51 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.87 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.83 | 0.50 | +0.32 |
Drawdowns
UB03.L vs. LCUK.L - Drawdown Comparison
The maximum UB03.L drawdown since its inception was -33.84%, roughly equal to the maximum LCUK.L drawdown of -35.54%. Use the drawdown chart below to compare losses from any high point for UB03.L and LCUK.L.
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Drawdown Indicators
| UB03.L | LCUK.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -33.84% | -35.54% | +1.70% |
Max Drawdown (1Y)Largest decline over 1 year | -9.09% | -9.13% | +0.04% |
Max Drawdown (3Y)Largest decline over 3 years | -12.11% | -12.65% | +0.54% |
Max Drawdown (5Y)Largest decline over 5 years | -12.11% | -12.65% | +0.54% |
Max Drawdown (10Y)Largest decline over 10 years | -33.84% | — | — |
Current DrawdownCurrent decline from peak | -4.28% | -4.49% | +0.21% |
Average DrawdownAverage peak-to-trough decline | -4.91% | -4.97% | +0.06% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.10% | 2.84% | +0.26% |
Volatility
UB03.L vs. LCUK.L - Volatility Comparison
UBS ETF (LU) FTSE 100 UCITS ETF (GBP) A-dis (UB03.L) has a higher volatility of 4.31% compared to Lyxor Core UK Equity All Cap (DR) UCITS ETF - Dist (LCUK.L) at 3.88%. This indicates that UB03.L's price experiences larger fluctuations and is considered to be riskier than LCUK.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 | LCUK.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.31% | 3.88% | +0.43% |
Volatility (6M)Calculated over the trailing 6-month period | 9.74% | 10.20% | -0.46% |
Volatility (1Y)Calculated over the trailing 1-year period | 12.10% | 11.91% | +0.19% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.53% | 12.96% | +4.57% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 20.98% | 15.70% | +5.28% |
UB03.L vs. LCUK.L - Expense Ratio Comparison
UB03.L has a 0.20% 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
UB03.L vs. LCUK.L - Dividend Comparison
UB03.L's dividend yield for the trailing twelve months is around 2.71%, while LCUK.L has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
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% | 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 LCUK.L 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, 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 0.20% for UB03.L.
Both ETFs track FTSE AllSh TR GBP. They also come from different issuers: UBS and Amundi. Their fees differ too: 0.20% for UB03.L and 0.04% for LCUK.L.
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