UD03.L vs. LCPE.L

Last updated Jun 5, 2026

UD03.L (UBS ETF (LU) Factor MSCI EMU Prime Value UCITS ETF (EUR) A-dis) and LCPE.L (Ossiam Shiller Barclays Cape Europe Sector Value TR UCITS) are both Europe Equities funds - UD03.L tracks the MSCI EMU NR EUR while LCPE.L tracks the MSCI Europe NR EUR. Both are passively managed. Over the past 5 years, UD03.L returned 10.72%/yr vs 9.64%/yr for LCPE.L. At a 0.21 correlation, their price movements are largely independent. UD03.L charges 0.28%/yr vs 0.65%/yr for LCPE.L.

Performance

UD03.L vs. LCPE.L - Performance Comparison

The chart below illustrates the hypothetical performance of a £10,000 investment in UBS ETF (LU) Factor MSCI EMU Prime Value UCITS ETF (EUR) A-dis (UD03.L) and Ossiam Shiller Barclays Cape Europe Sector Value TR UCITS (LCPE.L). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, UD03.L achieves a 12.28% return, which is significantly lower than LCPE.L's 14.20% return.

UD03.L

• 1D: 0.26%
• 1M: 4.71%
• YTD: 12.28%
• 6M: 15.08%
• 1Y: 24.17%
• 3Y*: 14.83%
• 5Y*: 10.72%
• 10Y*: —

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%

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

UD03.L vs. LCPE.L - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
UD03.L UBS ETF (LU) Factor MSCI EMU Prime Value UCITS ETF (EUR) A-dis	12.28%	25.20%	0.78%	19.24%	-4.62%	10.81%	5.72%	0.00%
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%	2.69%

Correlation

The correlation between UD03.L and LCPE.L is 0.44, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.44
Correlation (3Y) Calculated over the trailing 3-year period	0.30
Correlation (5Y) Calculated over the trailing 5-year period	0.25
Correlation (All Time) Calculated using the full available price history since Dec 20, 2019	0.21

Over the past year, UD03.L and LCPE.L have become more correlated (0.44) than their long-term average of 0.21, meaning their price movements have been converging.

UD03.L vs. LCPE.L - Sectors Allocation Comparison

Sectors	UD03.L	LCPE.L
Financial Services	28.5%	-
Technology	16.2%	0.2%
Consumer Defensive	14.6%	32.8%
Industrials	12.1%	0.2%
Utilities	7.7%	-
Consumer Cyclical	7.0%	1.9%
Basic Materials	4.2%	32.3%
Healthcare	4.1%	32.6%
Communication Services	3.1%	0.0%
Energy	2.7%	0.0%
Real Estate	-	0.0%

Return for Risk

UD03.L vs. LCPE.L — Risk / Return Rank

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

UD03.L

UD03.L Risk / Return Rank: 90
UD03.L Sharpe Ratio Rank: 94
UD03.L Sortino Ratio Rank: 92
UD03.L Omega Ratio Rank: 92
UD03.L Calmar Ratio Rank: 91
UD03.L Martin Ratio Rank: 82

LCPE.L

LCPE.L Risk / Return Rank: 77
LCPE.L Sharpe Ratio Rank: 77
LCPE.L Sortino Ratio Rank: 79
LCPE.L Omega Ratio Rank: 74
LCPE.L Calmar Ratio Rank: 81
LCPE.L Martin Ratio Rank: 73

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.

UD03.L vs. LCPE.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for UBS ETF (LU) Factor MSCI EMU Prime Value UCITS ETF (EUR) A-dis (UD03.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.

	UD03.L	LCPE.L	Difference
Sharpe ratio: Return per unit of total volatility	3.47	2.44	+1.03
Sortino ratio: Return per unit of downside risk	4.46	3.49	+0.97
Omega ratio: Gain probability vs. loss probability	1.61	1.43	+0.18
Calmar ratio: Return relative to maximum drawdown	5.70	4.13	+1.56
Martin ratio: Return relative to average drawdown	16.25	13.66	+2.59
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

UD03.L vs. LCPE.L - Sharpe Ratio Comparison

The current UD03.L Sharpe Ratio is 3.47, which is higher than the LCPE.L Sharpe Ratio of 2.44. The chart below compares the historical Sharpe Ratios of UD03.L and LCPE.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

	UD03.L	LCPE.L	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	3.47	2.44	+1.03
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	1.75	1.04	+0.72
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	1.20	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.19	0.98	+0.21

Drawdowns

UD03.L vs. LCPE.L - Drawdown Comparison

The maximum UD03.L drawdown since its inception was -30.85%, 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 UD03.L and LCPE.L.

Drawdown Indicators

	UD03.L	LCPE.L	Difference
Max Drawdown Largest peak-to-trough decline	-30.85%	-27.05%	-3.80%
Max Drawdown (1Y) Largest decline over 1 year	-9.80%	-6.66%	-3.14%
Max Drawdown (3Y) Largest decline over 3 years	-11.72%	-12.39%	+0.67%
Max Drawdown (5Y) Largest decline over 5 years	-18.67%	-12.39%	-6.28%
Max Drawdown (10Y) Largest decline over 10 years	—	-27.05%	—
Current Drawdown Current decline from peak	-1.19%	-2.71%	+1.52%
Average Drawdown Average peak-to-trough decline	-3.31%	-3.52%	+0.21%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.56%	2.02%	+1.54%

Volatility

UD03.L vs. LCPE.L - Volatility Comparison

The current volatility for UBS ETF (LU) Factor MSCI EMU Prime Value UCITS ETF (EUR) A-dis (UD03.L) is 3.58%, while Ossiam Shiller Barclays Cape Europe Sector Value TR UCITS (LCPE.L) has a volatility of 3.81%. This indicates that UD03.L experiences smaller price fluctuations and is considered to be less risky than LCPE.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	UD03.L	LCPE.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.58%	3.81%	-0.23%
Volatility (6M) Calculated over the trailing 6-month period	—	8.48%	—
Volatility (1Y) Calculated over the trailing 1-year period	16.13%	11.29%	+4.84%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	27.46%	17.74%	+9.72%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	47.29%	20.60%	+26.69%

UD03.L vs. LCPE.L - Expense Ratio Comparison

UD03.L has a 0.28% expense ratio, which is lower than LCPE.L's 0.65% expense ratio.

Dividends

UD03.L vs. LCPE.L - Dividend Comparison

UD03.L's dividend yield for the trailing twelve months is around 2.54%, while LCPE.L has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020
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%
UD03.L UBS ETF (LU) Factor MSCI EMU Prime Value UCITS ETF (EUR) A-dis	2.54%	2.97%	2.84%	3.67%	3.96%	3.50%	2.07%

Frequently Asked Questions

Can I hold both UD03.L and LCPE.L in my portfolio?

UD03.L and LCPE.L have a correlation of 0.44, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, UD03.L or LCPE.L?

On fees, UD03.L is cheaper at 0.28% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, UD03.L or LCPE.L?

UD03.L is cheaper with a 0.28% expense ratio, compared with 0.65% for LCPE.L.

What is the main difference between UD03.L and LCPE.L?

UD03.L tracks MSCI EMU NR EUR, while LCPE.L tracks MSCI Europe NR EUR. They also come from different issuers: UBS and Natixis. Their fees differ too: 0.28% for UD03.L and 0.65% for LCPE.L.