UETW.DE vs. ETLQ.DE

Last updated Jun 5, 2026

UETW.DE (UBS ETF (IE) MSCI World UCITS ETF (USD) Acc) and ETLQ.DE (L&G Global Equity UCITS ETF) are both Global Equities funds - UETW.DE tracks the MSCI World while ETLQ.DE tracks the Solactive Core Developed Markets Large & Mid Cap. Both are passively managed. Over the past 5 years, UETW.DE returned 12.87%/yr vs 13.10%/yr for ETLQ.DE. With a 0.98 correlation, they move nearly in lockstep. Both charge a 0.10% expense ratio.

Performance

UETW.DE vs. ETLQ.DE - Performance Comparison

The chart below illustrates the hypothetical performance of a €10,000 investment in UBS ETF (IE) MSCI World UCITS ETF (USD) Acc (UETW.DE) and L&G Global Equity UCITS ETF (ETLQ.DE). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both stocks are quite close, with UETW.DE having a 10.95% return and ETLQ.DE slightly lower at 10.88%.

UETW.DE

• 1D: -0.01%
• 1M: 3.72%
• YTD: 10.95%
• 6M: 10.99%
• 1Y: 23.94%
• 3Y*: 17.68%
• 5Y*: 12.87%
• 10Y*: —

ETLQ.DE

• 1D: 0.00%
• 1M: 3.89%
• YTD: 10.88%
• 6M: 10.99%
• 1Y: 23.85%
• 3Y*: 17.73%
• 5Y*: 13.10%
• 10Y*: —

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

UETW.DE vs. ETLQ.DE - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
UETW.DE UBS ETF (IE) MSCI World UCITS ETF (USD) Acc	10.95%	8.06%	26.50%	19.68%	-13.72%	32.17%	5.50%	12.54%
ETLQ.DE L&G Global Equity UCITS ETF	10.88%	8.14%	26.10%	20.83%	-13.64%	32.63%	5.63%	12.79%

Correlation

The correlation between UETW.DE and ETLQ.DE is 0.99 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.99
Correlation (3Y) Calculated over the trailing 3-year period	0.99
Correlation (5Y) Calculated over the trailing 5-year period	0.99
Correlation (All Time) Calculated using the full available price history since Jun 12, 2019	0.98

The correlation between UETW.DE and ETLQ.DE has been stable across timeframes, ranging from 0.98 to 0.99 - a consistent structural relationship.

Return for Risk

UETW.DE vs. ETLQ.DE — Risk / Return Rank

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

UETW.DE

UETW.DE Risk / Return Rank: 71
UETW.DE Sharpe Ratio Rank: 66
UETW.DE Sortino Ratio Rank: 67
UETW.DE Omega Ratio Rank: 69
UETW.DE Calmar Ratio Rank: 74
UETW.DE Martin Ratio Rank: 77

ETLQ.DE

ETLQ.DE Risk / Return Rank: 69
ETLQ.DE Sharpe Ratio Rank: 65
ETLQ.DE Sortino Ratio Rank: 65
ETLQ.DE Omega Ratio Rank: 66
ETLQ.DE Calmar Ratio Rank: 72
ETLQ.DE Martin Ratio Rank: 76

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.

UETW.DE vs. ETLQ.DE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for UBS ETF (IE) MSCI World UCITS ETF (USD) Acc (UETW.DE) and L&G Global Equity UCITS ETF (ETLQ.DE). 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.

	UETW.DE	ETLQ.DE	Difference
Sharpe ratio: Return per unit of total volatility	2.17	2.13	+0.04
Sortino ratio: Return per unit of downside risk	3.02	2.98	+0.04
Omega ratio: Gain probability vs. loss probability	1.40	1.39	+0.01
Calmar ratio: Return relative to maximum drawdown	3.67	3.56	+0.11
Martin ratio: Return relative to average drawdown	14.61	14.23	+0.38
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

UETW.DE vs. ETLQ.DE - Sharpe Ratio Comparison

The current UETW.DE Sharpe Ratio is 2.17, which is comparable to the ETLQ.DE Sharpe Ratio of 2.13. The chart below compares the historical Sharpe Ratios of UETW.DE and ETLQ.DE, 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

	UETW.DE	ETLQ.DE	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.17	2.13	+0.04
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.91	0.92	-0.01
Sharpe Ratio (All Time) Calculated using the full available price history	0.85	0.93	-0.09

Drawdowns

UETW.DE vs. ETLQ.DE - Drawdown Comparison

The maximum UETW.DE drawdown since its inception was -33.72%, roughly equal to the maximum ETLQ.DE drawdown of -33.38%. Use the drawdown chart below to compare losses from any high point for UETW.DE and ETLQ.DE.

Drawdown Indicators

	UETW.DE	ETLQ.DE	Difference
Max Drawdown Largest peak-to-trough decline	-33.72%	-33.38%	-0.34%
Max Drawdown (1Y) Largest decline over 1 year	-6.47%	-6.68%	+0.21%
Max Drawdown (3Y) Largest decline over 3 years	-21.30%	-21.58%	+0.28%
Max Drawdown (5Y) Largest decline over 5 years	-21.30%	-21.58%	+0.28%
Current Drawdown Current decline from peak	-0.30%	-0.34%	+0.04%
Average Drawdown Average peak-to-trough decline	-4.63%	-4.33%	-0.30%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.63%	1.68%	-0.05%

Volatility

UETW.DE vs. ETLQ.DE - Volatility Comparison

UBS ETF (IE) MSCI World UCITS ETF (USD) Acc (UETW.DE) and L&G Global Equity UCITS ETF (ETLQ.DE) have volatilities of 2.60% and 2.68%, 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.

Volatility by Period

	UETW.DE	ETLQ.DE	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.60%	2.68%	-0.08%
Volatility (6M) Calculated over the trailing 6-month period	7.63%	7.77%	-0.14%
Volatility (1Y) Calculated over the trailing 1-year period	10.97%	11.18%	-0.21%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.03%	14.06%	-0.03%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.11%	15.74%	+0.37%

UETW.DE vs. ETLQ.DE - Expense Ratio Comparison

Both UETW.DE and ETLQ.DE have an expense ratio of 0.10%, making them cost-effective options compared to the broader market, where average expense ratios typically range from 0.3% to 0.9%.

Dividends

UETW.DE vs. ETLQ.DE - Dividend Comparison

Neither UETW.DE nor ETLQ.DE has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both UETW.DE and ETLQ.DE in my portfolio?

With a correlation of 0.99, UETW.DE and ETLQ.DE move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which ETF is better, UETW.DE or ETLQ.DE?

Both ETFs have the same 0.10% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, UETW.DE or ETLQ.DE?

UETW.DE and ETLQ.DE have the same expense ratio: 0.10% per year.

What is the main difference between UETW.DE and ETLQ.DE?

UETW.DE tracks MSCI World, while ETLQ.DE tracks Solactive Core Developed Markets Large & Mid Cap. They also come from different issuers: UBS and Legal & General.