UC63.L vs. LDEU.L
UC63.L (UBS ETF (LU) MSCI UK UCITS ETF (GBP) A-dis) and LDEU.L (L&G Europe ex-UK Quality Dividends Equal Weight UCITS ETF EUR (Dist)) are both Europe Equities funds - UC63.L tracks the FTSE AllSh TR GBP while LDEU.L tracks the FTSE Developed Europe ex UK All Cap ex CW ex TC ex REITS Dividend Growth with Quality Net Tax Index. Both are passively managed. Over the past 5 years, UC63.L returned 12.93%/yr vs 16.94%/yr for LDEU.L. A 0.72 correlation means they provide meaningful diversification when combined. UC63.L charges 0.20%/yr vs 0.25%/yr for LDEU.L.
Performance
UC63.L vs. LDEU.L - Performance Comparison
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Different Trading Currencies
UC63.L is traded in GBp, while LDEU.L is traded in EUR. To make them comparable, the LDEU.L values have been converted to GBp using the latest available exchange rates.
Returns By Period
In the year-to-date period, UC63.L achieves a 8.47% return, which is significantly lower than LDEU.L's 12.58% return.
UC63.L
- 1D
- 0.41%
- 1M
- 0.84%
- 6M
- 5.27%
- YTD
- 8.47%
- 1Y
- 22.18%
- 3Y*
- 16.38%
- 5Y*
- 12.93%
- 10Y*
- 8.44%
LDEU.L
- 1D
- 0.29%
- 1M
- -1.06%
- 6M
- 9.88%
- YTD
- 12.58%
- 1Y
- 27.34%
- 3Y*
- 24.57%
- 5Y*
- 16.94%
- 10Y*
- —
UC63.L vs. LDEU.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
UC63.L UBS ETF (LU) MSCI UK UCITS ETF (GBP) A-dis | 8.47% | 25.75% | 9.16% | 6.95% | 7.38% | 10.05% |
LDEU.L L&G Europe ex-UK Quality Dividends Equal Weight UCITS ETF EUR (Dist) | 12.58% | 44.92% | 9.43% | 14.43% | 1.84% | 5.93% |
Correlation
The correlation between UC63.L and LDEU.L is 0.72, 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 | 0.72 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.70 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.72 |
Correlation (All Time) Calculated using the full available price history since Apr 12, 2021 | 0.72 |
The correlation between UC63.L and LDEU.L has been stable across timeframes, ranging from 0.70 to 0.72 - a consistent structural relationship.
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Return for Risk
UC63.L vs. LDEU.L — Risk / Return Rank
UC63.L
LDEU.L
UC63.L vs. LDEU.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for UBS ETF (LU) MSCI UK UCITS ETF (GBP) A-dis (UC63.L) and L&G Europe ex-UK Quality Dividends Equal Weight UCITS ETF EUR (Dist) (LDEU.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.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| UC63.L | LDEU.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.41 | ||
| Sortino ratioReturn per unit of downside risk | -0.50 | ||
| Omega ratioGain probability vs. loss probability | 1.36 | 1.41 | -0.05 |
| Calmar ratioReturn relative to maximum drawdown | 2.44 | 3.44 | -1.00 |
| Martin ratioReturn relative to average drawdown | 7.79 | 12.17 | -4.38 |
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Drawdowns
UC63.L vs. LDEU.L - Drawdown Comparison
The maximum UC63.L drawdown since its inception was -34.55%, which is greater than LDEU.L's maximum drawdown of -17.44%. Use the drawdown chart below to compare losses from any high point for UC63.L and LDEU.L.
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Drawdown Indicators
| UC63.L | LDEU.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -34.55% | -17.44% | -17.11% |
Max Drawdown (1Y)Largest decline over 1 year | -9.05% | -7.91% | -1.14% |
Max Drawdown (3Y)Largest decline over 3 years | -12.95% | -13.34% | +0.39% |
Max Drawdown (5Y)Largest decline over 5 years | -12.95% | -17.44% | +4.49% |
Max Drawdown (10Y)Largest decline over 10 years | -34.55% | — | — |
Current DrawdownCurrent decline from peak | -1.80% | -1.06% | -0.74% |
Average DrawdownAverage peak-to-trough decline | -4.78% | -2.98% | -1.80% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.84% | 2.24% | +0.60% |
Volatility
UC63.L vs. LDEU.L - Volatility Comparison
UBS ETF (LU) MSCI UK UCITS ETF (GBP) A-dis (UC63.L) and L&G Europe ex-UK Quality Dividends Equal Weight UCITS ETF EUR (Dist) (LDEU.L) have volatilities of 3.11% and 3.03%, 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
| UC63.L | LDEU.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.11% | 3.03% | +0.08% |
Volatility (6M)Calculated over the trailing 6-month period | 9.98% | 9.62% | +0.36% |
Volatility (1Y)Calculated over the trailing 1-year period | 11.64% | 11.78% | -0.14% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 12.85% | 14.58% | -1.73% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 14.88% | 14.42% | +0.46% |
UC63.L vs. LDEU.L - Expense Ratio Comparison
UC63.L has a 0.20% expense ratio, which is lower than LDEU.L's 0.25% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
UC63.L vs. LDEU.L - Dividend Comparison
UC63.L's dividend yield for the trailing twelve months is around 2.80%, less than LDEU.L's 3.50% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
LDEU.L L&G Europe ex-UK Quality Dividends Equal Weight UCITS ETF EUR (Dist) | 3.50% | 3.47% | 4.36% | 4.44% | 4.17% | 2.93% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
UC63.L UBS ETF (LU) MSCI UK UCITS ETF (GBP) A-dis | 2.80% | 2.73% | 3.12% | 3.69% | 3.71% | 3.22% | 3.86% | 4.21% | 3.55% | 4.46% | 2.14% | 4.44% |
Frequently Asked Questions
UC63.L and LDEU.L have a correlation of 0.72, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, UC63.L is cheaper at 0.20% per year. The better choice depends on whether you care most about return, fees, risk, or income.
UC63.L is cheaper with a 0.20% expense ratio, compared with 0.25% for LDEU.L.
UC63.L tracks FTSE AllSh TR GBP, while LDEU.L tracks FTSE Developed Europe ex UK All Cap ex CW ex TC ex REITS Dividend Growth with Quality Net Tax Index. They also come from different issuers: UBS and L&G. Their fees differ too: 0.20% for UC63.L and 0.25% for LDEU.L.
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