USPY.DE vs. EN4C.DE
USPY.DE (L&G Cyber Security UCITS ETF) and EN4C.DE (L&G Multi-Strategy Enhanced Commodities UCITS ETF) are both exchange-traded funds - USPY.DE is a Technology Equities fund tracking the ISE Cyber Security UCITS, while EN4C.DE is a Commodities fund tracking the Barclays Backwardation Tilt Multi-Strategy Capped. Both are passively managed. Over the past 3 years, USPY.DE returned 25.52%/yr vs 9.70%/yr for EN4C.DE. At a 0.14 correlation, their price movements are largely independent. USPY.DE charges 0.69%/yr vs 0.30%/yr for EN4C.DE.
Performance
USPY.DE vs. EN4C.DE - Performance Comparison
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Returns By Period
In the year-to-date period, USPY.DE achieves a 39.75% return, which is significantly higher than EN4C.DE's 24.44% return.
USPY.DE
- 1D
- -2.26%
- 1M
- 27.75%
- YTD
- 39.75%
- 6M
- 33.58%
- 1Y
- 33.48%
- 3Y*
- 25.52%
- 5Y*
- 12.91%
- 10Y*
- 16.69%
EN4C.DE
- 1D
- -1.57%
- 1M
- -2.39%
- YTD
- 24.44%
- 6M
- 23.57%
- 1Y
- 30.49%
- 3Y*
- 9.70%
- 5Y*
- —
- 10Y*
- —
USPY.DE vs. EN4C.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
USPY.DE L&G Cyber Security UCITS ETF | 39.75% | -3.37% | 24.35% | 37.43% | -28.72% | 1.60% |
EN4C.DE L&G Multi-Strategy Enhanced Commodities UCITS ETF | 24.44% | -3.13% | 9.93% | -5.63% | 29.83% | 10.18% |
Correlation
The correlation between USPY.DE and EN4C.DE is 0.10, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.10 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.14 |
Correlation (All Time) Calculated using the full available price history since Sep 24, 2021 | 0.14 |
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Return for Risk
USPY.DE vs. EN4C.DE — Risk / Return Rank
USPY.DE
EN4C.DE
USPY.DE vs. EN4C.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for L&G Cyber Security UCITS ETF (USPY.DE) and L&G Multi-Strategy Enhanced Commodities UCITS ETF (EN4C.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.
| USPY.DE | EN4C.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.43 | ||
| Sortino ratioReturn per unit of downside risk | -0.42 | ||
| Omega ratioGain probability vs. loss probability | 1.25 | 1.29 | -0.05 |
| Calmar ratioReturn relative to maximum drawdown | 1.70 | 3.44 | -1.75 |
| Martin ratioReturn relative to average drawdown | 4.56 | 8.36 | -3.80 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| USPY.DE | EN4C.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.26 | 1.69 | -0.43 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.52 | — | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.72 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.63 | 0.72 | -0.09 |
Drawdowns
USPY.DE vs. EN4C.DE - Drawdown Comparison
The maximum USPY.DE drawdown since its inception was -34.32%, which is greater than EN4C.DE's maximum drawdown of -25.41%. Use the drawdown chart below to compare losses from any high point for USPY.DE and EN4C.DE.
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Drawdown Indicators
| USPY.DE | EN4C.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -34.32% | -25.41% | -8.91% |
Max Drawdown (1Y)Largest decline over 1 year | -19.63% | -8.81% | -10.82% |
Max Drawdown (3Y)Largest decline over 3 years | -30.52% | -17.63% | -12.89% |
Max Drawdown (5Y)Largest decline over 5 years | -33.89% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -33.89% | — | — |
Current DrawdownCurrent decline from peak | -2.26% | -4.02% | +1.76% |
Average DrawdownAverage peak-to-trough decline | -9.91% | -13.89% | +3.98% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 7.32% | 3.64% | +3.68% |
Volatility
USPY.DE vs. EN4C.DE - Volatility Comparison
L&G Cyber Security UCITS ETF (USPY.DE) has a higher volatility of 10.03% compared to L&G Multi-Strategy Enhanced Commodities UCITS ETF (EN4C.DE) at 5.98%. This indicates that USPY.DE's price experiences larger fluctuations and is considered to be riskier than EN4C.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| USPY.DE | EN4C.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 10.03% | 5.98% | +4.05% |
Volatility (6M)Calculated over the trailing 6-month period | 22.89% | 14.54% | +8.35% |
Volatility (1Y)Calculated over the trailing 1-year period | 26.36% | 17.98% | +8.38% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 24.60% | 18.11% | +6.49% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 22.91% | 18.11% | +4.80% |
USPY.DE vs. EN4C.DE - Expense Ratio Comparison
USPY.DE has a 0.69% expense ratio, which is higher than EN4C.DE's 0.30% expense ratio.
Dividends
USPY.DE vs. EN4C.DE - Dividend Comparison
Neither USPY.DE nor EN4C.DE has paid dividends to shareholders.
Frequently Asked Questions
USPY.DE and EN4C.DE have a correlation of 0.10, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, EN4C.DE is cheaper at 0.30% per year. The better choice depends on whether you care most about return, fees, risk, or income.
EN4C.DE is cheaper with a 0.30% expense ratio, compared with 0.69% for USPY.DE.
USPY.DE is categorized as Technology Equities, while EN4C.DE is Commodities. USPY.DE tracks ISE Cyber Security UCITS, while EN4C.DE tracks Barclays Backwardation Tilt Multi-Strategy Capped. Their fees differ too: 0.69% for USPY.DE and 0.30% for EN4C.DE.
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