UB20.L vs. LCAL.L

Last updated Jun 5, 2026

UB20.L (UBS ETF (LU) MSCI Pacific (ex Japan) UCITS ETF (USD) A-dis) and LCAL.L (Lyxor MSCI EM Asia UCITS ETF - Acc) are both Asia Pacific Equities funds - UB20.L tracks the MSCI Pacific Ex Japan NR USD while LCAL.L tracks the MSCI AC Asia Ex Japan NR USD. Both are passively managed. Over the past 5 years, UB20.L returned 6.00%/yr vs 9.02%/yr for LCAL.L. A 0.51 correlation means they provide meaningful diversification when combined. UB20.L charges 0.30%/yr vs 0.12%/yr for LCAL.L.

Performance

UB20.L vs. LCAL.L - Performance Comparison

The chart below illustrates the hypothetical performance of a £10,000 investment in UBS ETF (LU) MSCI Pacific (ex Japan) UCITS ETF (USD) A-dis (UB20.L) and Lyxor MSCI EM Asia UCITS ETF - Acc (LCAL.L). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

UB20.L is traded in GBp, while LCAL.L is traded in GBP. To make them comparable, the LCAL.L values have been converted to GBp using the latest available exchange rates.

Returns By Period

In the year-to-date period, UB20.L achieves a 8.88% return, which is significantly lower than LCAL.L's 30.19% return.

UB20.L

• 1D: -0.89%
• 1M: 0.41%
• YTD: 8.88%
• 6M: 9.55%
• 1Y: 17.52%
• 3Y*: 10.59%
• 5Y*: 6.00%
• 10Y*: 8.09%

LCAL.L

• 1D: -1.65%
• 1M: 8.07%
• YTD: 30.19%
• 6M: 32.55%
• 1Y: 58.76%
• 3Y*: 22.81%
• 5Y*: 9.02%
• 10Y*: —

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

UB20.L vs. LCAL.L - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
UB20.L UBS ETF (LU) MSCI Pacific (ex Japan) UCITS ETF (USD) A-dis	8.88%	12.00%	6.98%	-0.60%	5.80%	5.29%	2.35%	16.21%	1.05%
LCAL.L Lyxor MSCI EM Asia UCITS ETF - Acc	30.19%	24.10%	13.67%	0.95%	-11.42%	-4.08%	24.20%	14.12%	-7.85%

Correlation

The correlation between UB20.L and LCAL.L is 0.56, 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	0.56
Correlation (3Y) Calculated over the trailing 3-year period	0.64
Correlation (5Y) Calculated over the trailing 5-year period	0.52
Correlation (All Time) Calculated using the full available price history since Apr 3, 2018	0.51

The correlation between UB20.L and LCAL.L shifts across timeframes, from 0.51 (all time) to 0.64 (3 years), reflecting how their relationship changes across market environments.

UB20.L vs. LCAL.L - Sectors Allocation Comparison

Sectors	UB20.L	LCAL.L
Financial Services	46.1%	16.4%
Basic Materials	14.6%	3.0%
Industrials	8.5%	7.1%
Real Estate	7.8%	1.3%
Consumer Cyclical	6.0%	10.5%
Healthcare	3.7%	3.8%
Utilities	3.6%	1.0%
Consumer Defensive	3.0%	2.9%
Energy	2.9%	2.1%
Communication Services	2.7%	6.9%
Technology	1.1%	45.2%

Return for Risk

UB20.L vs. LCAL.L — Risk / Return Rank

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

UB20.L

UB20.L Risk / Return Rank: 48
UB20.L Sharpe Ratio Rank: 48
UB20.L Sortino Ratio Rank: 51
UB20.L Omega Ratio Rank: 46
UB20.L Calmar Ratio Rank: 50
UB20.L Martin Ratio Rank: 47

LCAL.L

LCAL.L Risk / Return Rank: 89
LCAL.L Sharpe Ratio Rank: 91
LCAL.L Sortino Ratio Rank: 89
LCAL.L Omega Ratio Rank: 90
LCAL.L Calmar Ratio Rank: 88
LCAL.L Martin Ratio Rank: 84

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.

UB20.L vs. LCAL.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for UBS ETF (LU) MSCI Pacific (ex Japan) UCITS ETF (USD) A-dis (UB20.L) and Lyxor MSCI EM Asia UCITS ETF - Acc (LCAL.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.

	UB20.L	LCAL.L	Difference
Sharpe ratio: Return per unit of total volatility	1.62	3.16	-1.54
Sortino ratio: Return per unit of downside risk	2.42	4.06	-1.64
Omega ratio: Gain probability vs. loss probability	1.29	1.57	-0.28
Calmar ratio: Return relative to maximum drawdown	2.46	5.03	-2.58
Martin ratio: Return relative to average drawdown	7.51	17.08	-9.58
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

UB20.L vs. LCAL.L - Sharpe Ratio Comparison

The current UB20.L Sharpe Ratio is 1.62, which is lower than the LCAL.L Sharpe Ratio of 3.16. The chart below compares the historical Sharpe Ratios of UB20.L and LCAL.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

	UB20.L	LCAL.L	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.62	3.16	-1.54
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.47	0.51	-0.03
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.66	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.68	0.49	+0.19

Drawdowns

UB20.L vs. LCAL.L - Drawdown Comparison

The maximum UB20.L drawdown since its inception was -30.04%, smaller than the maximum LCAL.L drawdown of -33.83%. Use the drawdown chart below to compare losses from any high point for UB20.L and LCAL.L.

Drawdown Indicators

	UB20.L	LCAL.L	Difference
Max Drawdown Largest peak-to-trough decline	-30.04%	-33.83%	+3.79%
Max Drawdown (1Y) Largest decline over 1 year	-7.32%	-11.62%	+4.30%
Max Drawdown (3Y) Largest decline over 3 years	-17.80%	-17.61%	-0.19%
Max Drawdown (5Y) Largest decline over 5 years	-17.80%	-28.34%	+10.54%
Max Drawdown (10Y) Largest decline over 10 years	-30.04%	—	—
Current Drawdown Current decline from peak	-3.03%	-2.72%	-0.31%
Average Drawdown Average peak-to-trough decline	-5.59%	-12.58%	+6.99%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.37%	3.43%	-1.06%

Volatility

UB20.L vs. LCAL.L - Volatility Comparison

The current volatility for UBS ETF (LU) MSCI Pacific (ex Japan) UCITS ETF (USD) A-dis (UB20.L) is 3.70%, while Lyxor MSCI EM Asia UCITS ETF - Acc (LCAL.L) has a volatility of 8.53%. This indicates that UB20.L experiences smaller price fluctuations and is considered to be less risky than LCAL.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	UB20.L	LCAL.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.70%	8.53%	-4.83%
Volatility (6M) Calculated over the trailing 6-month period	8.48%	15.65%	-7.17%
Volatility (1Y) Calculated over the trailing 1-year period	11.12%	18.54%	-7.42%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.34%	17.73%	-2.39%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.15%	19.02%	-0.87%

UB20.L vs. LCAL.L - Expense Ratio Comparison

UB20.L has a 0.30% expense ratio, which is higher than LCAL.L's 0.12% expense ratio.

Dividends

UB20.L vs. LCAL.L - Dividend Comparison

UB20.L's dividend yield for the trailing twelve months is around 2.93%, while LCAL.L has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
LCAL.L Lyxor MSCI EM Asia UCITS ETF - Acc	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
UB20.L UBS ETF (LU) MSCI Pacific (ex Japan) UCITS ETF (USD) A-dis	2.93%	3.86%	3.26%	3.97%	3.64%	2.60%	3.05%	4.03%	4.36%	3.43%	4.00%	5.16%

Frequently Asked Questions

Can I hold both UB20.L and LCAL.L in my portfolio?

UB20.L and LCAL.L have a correlation of 0.56, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, UB20.L or LCAL.L?

On fees, LCAL.L is cheaper at 0.12% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, UB20.L or LCAL.L?

LCAL.L is cheaper with a 0.12% expense ratio, compared with 0.30% for UB20.L.

What is the main difference between UB20.L and LCAL.L?

UB20.L tracks MSCI Pacific Ex Japan NR USD, while LCAL.L tracks MSCI AC Asia Ex Japan NR USD. They also come from different issuers: UBS and Amundi. Their fees differ too: 0.30% for UB20.L and 0.12% for LCAL.L.