USPY.L vs. BLOK.L
USPY.L (L&G Cyber Security UCITS ETF) and BLOK.L (First Trust Indxx Innovative Transaction & Process UCITS ETF) are both Technology Equities funds - USPY.L tracks the L&G Cyber Security UCITS ETF while BLOK.L tracks the MSCI World/Information Tech NR USD. Both are passively managed. Over the past 5 years, USPY.L returned 12.61%/yr vs 11.78%/yr for BLOK.L. A 0.63 correlation means they provide meaningful diversification when combined. USPY.L charges 0.69%/yr vs 0.65%/yr for BLOK.L.
Performance
USPY.L vs. BLOK.L - Performance Comparison
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Different Trading Currencies
USPY.L is traded in USD, while BLOK.L is traded in GBp. To make them comparable, the BLOK.L values have been converted to USD using the latest available exchange rates.
Returns By Period
In the year-to-date period, USPY.L achieves a 47.19% return, which is significantly higher than BLOK.L's 9.97% return.
USPY.L
- 1D
- -0.15%
- 1M
- 11.40%
- 6M
- 50.30%
- YTD
- 47.19%
- 1Y
- 45.45%
- 3Y*
- 29.54%
- 5Y*
- 12.61%
- 10Y*
- 17.27%
BLOK.L
- 1D
- 0.67%
- 1M
- -2.25%
- 6M
- 7.07%
- YTD
- 9.97%
- 1Y
- 23.84%
- 3Y*
- 20.92%
- 5Y*
- 11.78%
- 10Y*
- —
USPY.L vs. BLOK.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
USPY.L L&G Cyber Security UCITS ETF | 47.19% | 7.58% | 17.82% | 42.25% | -32.63% | 7.68% | 42.21% | 29.64% | -3.39% |
BLOK.L First Trust Indxx Innovative Transaction & Process UCITS ETF | 9.97% | 31.58% | 16.58% | 20.82% | -18.71% | 18.00% | 18.57% | 27.51% | -35.53% |
Correlation
The correlation between USPY.L and BLOK.L is 0.47, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.47 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.55 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.61 |
Correlation (All Time) Calculated using the full available price history since Apr 9, 2018 | 0.63 |
The correlation between USPY.L and BLOK.L shifts across timeframes, from 0.47 (1 year) to 0.63 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
USPY.L vs. BLOK.L — Risk / Return Rank
USPY.L
BLOK.L
USPY.L vs. BLOK.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for L&G Cyber Security UCITS ETF (USPY.L) and First Trust Indxx Innovative Transaction & Process UCITS ETF (BLOK.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.
| USPY.L | BLOK.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | 0.00 | ||
| Sortino ratioReturn per unit of downside risk | -0.03 | ||
| Omega ratioGain probability vs. loss probability | 1.30 | 1.29 | +0.01 |
| Calmar ratioReturn relative to maximum drawdown | 2.57 | 2.41 | +0.16 |
| Martin ratioReturn relative to average drawdown | 6.67 | 8.06 | -1.39 |
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Drawdowns
USPY.L vs. BLOK.L - Drawdown Comparison
The maximum USPY.L drawdown since its inception was -39.35%, smaller than the maximum BLOK.L drawdown of -44.30%. Use the drawdown chart below to compare losses from any high point for USPY.L and BLOK.L.
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Drawdown Indicators
| USPY.L | BLOK.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -39.35% | -44.30% | +4.95% |
Max Drawdown (1Y)Largest decline over 1 year | -18.08% | -9.86% | -8.22% |
Max Drawdown (3Y)Largest decline over 3 years | -27.03% | -19.23% | -7.80% |
Max Drawdown (5Y)Largest decline over 5 years | -39.35% | -32.06% | -7.29% |
Max Drawdown (10Y)Largest decline over 10 years | -39.35% | — | — |
Current DrawdownCurrent decline from peak | -2.42% | -3.40% | +0.98% |
Average DrawdownAverage peak-to-trough decline | -9.82% | -13.62% | +3.80% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 6.98% | 2.95% | +4.03% |
Volatility
USPY.L vs. BLOK.L - Volatility Comparison
L&G Cyber Security UCITS ETF (USPY.L) has a higher volatility of 11.34% compared to First Trust Indxx Innovative Transaction & Process UCITS ETF (BLOK.L) at 3.93%. This indicates that USPY.L's price experiences larger fluctuations and is considered to be riskier than BLOK.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| USPY.L | BLOK.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 11.34% | 3.93% | +7.41% |
Volatility (6M)Calculated over the trailing 6-month period | 25.24% | 11.26% | +13.98% |
Volatility (1Y)Calculated over the trailing 1-year period | 28.22% | 14.39% | +13.83% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 26.09% | 21.50% | +4.59% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 23.56% | 23.46% | +0.10% |
USPY.L vs. BLOK.L - Expense Ratio Comparison
USPY.L has a 0.69% expense ratio, which is higher than BLOK.L's 0.65% expense ratio.
Dividends
USPY.L vs. BLOK.L - Dividend Comparison
Neither USPY.L nor BLOK.L has paid dividends to shareholders.
Frequently Asked Questions
USPY.L and BLOK.L have a correlation of 0.47, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, BLOK.L is cheaper at 0.65% per year. The better choice depends on whether you care most about return, fees, risk, or income.
BLOK.L is cheaper with a 0.65% expense ratio, compared with 0.69% for USPY.L.
USPY.L tracks L&G Cyber Security UCITS ETF, while BLOK.L tracks MSCI World/Information Tech NR USD. They also come from different issuers: L&G and First Trust. Their fees differ too: 0.69% for USPY.L and 0.65% for BLOK.L.
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