UKG5.L vs. LDUK.L

Last updated Jun 5, 2026

UKG5.L (L&G UK Gilt 0-5 Year UCITS ETF) and LDUK.L (L&G Quality Equity Dividends ESG Exclusions UK UCITS ETF) are both exchange-traded funds - UKG5.L is a European Government Bonds fund tracking the FTSE Act UK Cnvt Gilts All Stocks TR GBP, while LDUK.L is a Europe Equities fund tracking the FTSE AllSh TR GBP. Both are passively managed. Over the past 3 years, UKG5.L returned 4.11%/yr vs 16.70%/yr for LDUK.L. At a 0.19 correlation, their price movements are largely independent. UKG5.L charges 0.06%/yr vs 0.25%/yr for LDUK.L.

Performance

UKG5.L vs. LDUK.L - Performance Comparison

The chart below illustrates the hypothetical performance of a £10,000 investment in L&G UK Gilt 0-5 Year UCITS ETF (UKG5.L) and L&G Quality Equity Dividends ESG Exclusions UK UCITS ETF (LDUK.L). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, UKG5.L achieves a 0.57% return, which is significantly lower than LDUK.L's 3.01% return.

UKG5.L

• 1D: 0.09%
• 1M: 0.74%
• YTD: 0.57%
• 6M: 0.66%
• 1Y: 3.09%
• 3Y*: 4.11%
• 5Y*: —
• 10Y*: —

LDUK.L

• 1D: 0.72%
• 1M: 2.00%
• YTD: 3.01%
• 6M: 6.82%
• 1Y: 12.69%
• 3Y*: 16.70%
• 5Y*: 9.34%
• 10Y*: —

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

UKG5.L vs. LDUK.L - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
UKG5.L L&G UK Gilt 0-5 Year UCITS ETF	0.57%	5.06%	2.37%	3.91%	-5.07%	-0.54%
LDUK.L L&G Quality Equity Dividends ESG Exclusions UK UCITS ETF	3.01%	22.62%	16.13%	8.22%	-3.33%	4.16%

Correlation

The correlation between UKG5.L and LDUK.L is 0.42, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.42
Correlation (3Y) Calculated over the trailing 3-year period	0.30
Correlation (5Y) Calculated over the trailing 5-year period	0.20
Correlation (All Time) Calculated using the full available price history since May 28, 2021	0.19

Over the past year, UKG5.L and LDUK.L have become more correlated (0.42) than their long-term average of 0.19, meaning their price movements have been converging.

Return for Risk

UKG5.L vs. LDUK.L — Risk / Return Rank

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

UKG5.L

UKG5.L Risk / Return Rank: 45
UKG5.L Sharpe Ratio Rank: 48
UKG5.L Sortino Ratio Rank: 51
UKG5.L Omega Ratio Rank: 55
UKG5.L Calmar Ratio Rank: 34
UKG5.L Martin Ratio Rank: 37

LDUK.L

LDUK.L Risk / Return Rank: 26
LDUK.L Sharpe Ratio Rank: 25
LDUK.L Sortino Ratio Rank: 26
LDUK.L Omega Ratio Rank: 25
LDUK.L Calmar Ratio Rank: 24
LDUK.L Martin Ratio Rank: 29

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.

UKG5.L vs. LDUK.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for L&G UK Gilt 0-5 Year UCITS ETF (UKG5.L) and L&G Quality Equity Dividends ESG Exclusions UK UCITS ETF (LDUK.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.

	UKG5.L	LDUK.L	Difference
Sharpe ratio: Return per unit of total volatility	1.64	0.87	+0.77
Sortino ratio: Return per unit of downside risk	2.44	1.37	+1.06
Omega ratio: Gain probability vs. loss probability	1.34	1.16	+0.17
Calmar ratio: Return relative to maximum drawdown	1.64	1.11	+0.53
Martin ratio: Return relative to average drawdown	5.63	4.06	+1.57
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

UKG5.L vs. LDUK.L - Sharpe Ratio Comparison

The current UKG5.L Sharpe Ratio is 1.64, which is higher than the LDUK.L Sharpe Ratio of 0.87. The chart below compares the historical Sharpe Ratios of UKG5.L and LDUK.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

	UKG5.L	LDUK.L	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.64	0.87	+0.77
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.69	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.53	0.76	-0.23

Drawdowns

UKG5.L vs. LDUK.L - Drawdown Comparison

The maximum UKG5.L drawdown since its inception was -8.78%, smaller than the maximum LDUK.L drawdown of -17.13%. Use the drawdown chart below to compare losses from any high point for UKG5.L and LDUK.L.

Drawdown Indicators

	UKG5.L	LDUK.L	Difference
Max Drawdown Largest peak-to-trough decline	-8.78%	-17.13%	+8.35%
Max Drawdown (1Y) Largest decline over 1 year	-1.87%	-11.51%	+9.64%
Max Drawdown (3Y) Largest decline over 3 years	-1.87%	-13.46%	+11.59%
Max Drawdown (5Y) Largest decline over 5 years	—	-17.13%	—
Current Drawdown Current decline from peak	-0.60%	-1.80%	+1.20%
Average Drawdown Average peak-to-trough decline	-2.40%	-3.66%	+1.26%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.55%	3.15%	-2.60%

Volatility

UKG5.L vs. LDUK.L - Volatility Comparison

The current volatility for L&G UK Gilt 0-5 Year UCITS ETF (UKG5.L) is 0.86%, while L&G Quality Equity Dividends ESG Exclusions UK UCITS ETF (LDUK.L) has a volatility of 4.63%. This indicates that UKG5.L experiences smaller price fluctuations and is considered to be less risky than LDUK.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	UKG5.L	LDUK.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.86%	4.63%	-3.77%
Volatility (6M) Calculated over the trailing 6-month period	1.68%	12.32%	-10.64%
Volatility (1Y) Calculated over the trailing 1-year period	1.88%	14.67%	-12.79%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	2.80%	15.61%	-12.81%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	2.80%	15.64%	-12.84%

UKG5.L vs. LDUK.L - Expense Ratio Comparison

UKG5.L has a 0.06% expense ratio, which is lower than LDUK.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

UKG5.L vs. LDUK.L - Dividend Comparison

UKG5.L's dividend yield for the trailing twelve months is around 3.94%, less than LDUK.L's 4.79% yield.

Position	TTM	2025	2024	2023	2022	2021
LDUK.L L&G Quality Equity Dividends ESG Exclusions UK UCITS ETF	4.79%	4.87%	4.43%	5.14%	5.87%	4.41%
UKG5.L L&G UK Gilt 0-5 Year UCITS ETF	3.94%	3.94%	3.66%	2.02%	0.04%	0.00%

Frequently Asked Questions

Can I hold both UKG5.L and LDUK.L in my portfolio?

UKG5.L and LDUK.L have a correlation of 0.42, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, UKG5.L or LDUK.L?

On fees, UKG5.L is cheaper at 0.06% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, UKG5.L or LDUK.L?

UKG5.L is cheaper with a 0.06% expense ratio, compared with 0.25% for LDUK.L.

What is the main difference between UKG5.L and LDUK.L?

UKG5.L is categorized as European Government Bonds, while LDUK.L is Europe Equities. UKG5.L tracks FTSE Act UK Cnvt Gilts All Stocks TR GBP, while LDUK.L tracks FTSE AllSh TR GBP. Their fees differ too: 0.06% for UKG5.L and 0.25% for LDUK.L.