XMID.L vs. LCAL.L

Last updated Jun 5, 2026

XMID.L (Xtrackers MSCI Indonesia Swap UCITS ETF 1C) and LCAL.L (Lyxor MSCI EM Asia UCITS ETF - Acc) are both Asia Pacific Equities funds - XMID.L tracks the MSCI Indonesia NR IDR while LCAL.L tracks the MSCI AC Asia Ex Japan NR USD. Both are passively managed. Over the past 5 years, XMID.L returned -9.05%/yr vs 9.02%/yr for LCAL.L. At a 0.43 correlation, their price movements are largely independent. XMID.L charges 0.65%/yr vs 0.12%/yr for LCAL.L.

Performance

XMID.L vs. LCAL.L - Performance Comparison

The chart below illustrates the hypothetical performance of a £10,000 investment in Xtrackers MSCI Indonesia Swap UCITS ETF 1C (XMID.L) and Lyxor MSCI EM Asia UCITS ETF - Acc (LCAL.L). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

XMID.L is traded in GBp, while LCAL.L is traded in GBP. To make them comparable, the LCAL.L values have been converted to GBp using the latest available exchange rates.

Returns By Period

In the year-to-date period, XMID.L achieves a -39.40% return, which is significantly lower than LCAL.L's 30.19% return.

XMID.L

• 1D: -2.16%
• 1M: -19.47%
• YTD: -39.40%
• 6M: -40.52%
• 1Y: -39.13%
• 3Y*: -23.13%
• 5Y*: -9.05%
• 10Y*: -3.59%

LCAL.L

• 1D: -1.65%
• 1M: 8.07%
• YTD: 30.19%
• 6M: 32.55%
• 1Y: 58.76%
• 3Y*: 22.81%
• 5Y*: 9.02%
• 10Y*: —

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

XMID.L vs. LCAL.L - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
XMID.L Xtrackers MSCI Indonesia Swap UCITS ETF 1C	-39.40%	-8.44%	-12.66%	-0.27%	14.84%	1.39%	-10.64%	3.73%	8.54%
LCAL.L Lyxor MSCI EM Asia UCITS ETF - Acc	30.19%	24.10%	13.67%	0.95%	-11.42%	-4.08%	24.20%	14.12%	-7.85%

Correlation

The correlation between XMID.L and LCAL.L is 0.29, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.29
Correlation (3Y) Calculated over the trailing 3-year period	0.30
Correlation (5Y) Calculated over the trailing 5-year period	0.29
Correlation (All Time) Calculated using the full available price history since Apr 3, 2018	0.44

The correlation between XMID.L and LCAL.L shifts across timeframes, from 0.29 (1 year) to 0.43 (all time), reflecting how their relationship changes across market environments.

XMID.L vs. LCAL.L - Sectors Allocation Comparison

Sectors	XMID.L	LCAL.L
Financial Services	51.0%	16.4%
Basic Materials	17.2%	3.0%
Communication Services	9.5%	6.9%
Industrials	8.3%	7.1%
Energy	4.6%	2.1%
Consumer Defensive	3.7%	2.9%
Technology	3.3%	45.2%
Utilities	2.4%	1.0%
Consumer Cyclical	-	10.5%
Healthcare	-	3.8%
Real Estate	-	1.3%

Return for Risk

XMID.L vs. LCAL.L — Risk / Return Rank

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

XMID.L

XMID.L Risk / Return Rank: 0
XMID.L Sharpe Ratio Rank: 0
XMID.L Sortino Ratio Rank: 0
XMID.L Omega Ratio Rank: 0
XMID.L Calmar Ratio Rank: 1
XMID.L Martin Ratio Rank: 0

LCAL.L

LCAL.L Risk / Return Rank: 89
LCAL.L Sharpe Ratio Rank: 91
LCAL.L Sortino Ratio Rank: 89
LCAL.L Omega Ratio Rank: 90
LCAL.L Calmar Ratio Rank: 88
LCAL.L Martin Ratio Rank: 84

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.

XMID.L vs. LCAL.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Xtrackers MSCI Indonesia Swap UCITS ETF 1C (XMID.L) and Lyxor MSCI EM Asia UCITS ETF - Acc (LCAL.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.

	XMID.L	LCAL.L	Difference
Sharpe ratio: Return per unit of total volatility	-1.59	3.16	-4.75
Sortino ratio: Return per unit of downside risk	-2.39	4.06	-6.45
Omega ratio: Gain probability vs. loss probability	0.71	1.57	-0.85
Calmar ratio: Return relative to maximum drawdown	-0.92	5.03	-5.95
Martin ratio: Return relative to average drawdown	-2.56	17.08	-19.65
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

XMID.L vs. LCAL.L - Sharpe Ratio Comparison

The current XMID.L Sharpe Ratio is -1.59, which is lower than the LCAL.L Sharpe Ratio of 3.16. The chart below compares the historical Sharpe Ratios of XMID.L and LCAL.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

	XMID.L	LCAL.L	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-1.59	3.16	-4.75
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.45	0.51	-0.96
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	-0.15	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	-0.12	0.49	-0.61

Drawdowns

XMID.L vs. LCAL.L - Drawdown Comparison

The maximum XMID.L drawdown since its inception was -58.27%, which is greater than LCAL.L's maximum drawdown of -33.83%. Use the drawdown chart below to compare losses from any high point for XMID.L and LCAL.L.

Drawdown Indicators

	XMID.L	LCAL.L	Difference
Max Drawdown Largest peak-to-trough decline	-58.27%	-33.83%	-24.44%
Max Drawdown (1Y) Largest decline over 1 year	-42.58%	-11.62%	-30.96%
Max Drawdown (3Y) Largest decline over 3 years	-54.16%	-17.61%	-36.55%
Max Drawdown (5Y) Largest decline over 5 years	-58.27%	-28.34%	-29.93%
Max Drawdown (10Y) Largest decline over 10 years	-58.27%	—	—
Current Drawdown Current decline from peak	-58.27%	-2.72%	-55.55%
Average Drawdown Average peak-to-trough decline	-17.97%	-12.58%	-5.39%
Ulcer Index Depth and duration of drawdowns from previous peaks	15.24%	3.43%	+11.81%

Volatility

XMID.L vs. LCAL.L - Volatility Comparison

The current volatility for Xtrackers MSCI Indonesia Swap UCITS ETF 1C (XMID.L) is 6.26%, while Lyxor MSCI EM Asia UCITS ETF - Acc (LCAL.L) has a volatility of 8.53%. This indicates that XMID.L experiences smaller price fluctuations and is considered to be less risky than LCAL.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	XMID.L	LCAL.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.26%	8.53%	-2.27%
Volatility (6M) Calculated over the trailing 6-month period	19.74%	15.65%	+4.09%
Volatility (1Y) Calculated over the trailing 1-year period	24.49%	18.54%	+5.95%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	20.06%	17.73%	+2.33%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	23.32%	19.02%	+4.30%

XMID.L vs. LCAL.L - Expense Ratio Comparison

XMID.L has a 0.65% expense ratio, which is higher than LCAL.L's 0.12% expense ratio.

Dividends

XMID.L vs. LCAL.L - Dividend Comparison

Neither XMID.L nor LCAL.L has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both XMID.L and LCAL.L in my portfolio?

XMID.L and LCAL.L have a correlation of 0.29, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, XMID.L or LCAL.L?

On fees, LCAL.L is cheaper at 0.12% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, XMID.L or LCAL.L?

LCAL.L is cheaper with a 0.12% expense ratio, compared with 0.65% for XMID.L.

What is the main difference between XMID.L and LCAL.L?

XMID.L tracks MSCI Indonesia NR IDR, while LCAL.L tracks MSCI AC Asia Ex Japan NR USD. They also come from different issuers: DWS and Amundi. Their fees differ too: 0.65% for XMID.L and 0.12% for LCAL.L.