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Fundology

ETF · L&G

ENCG Mlt Strgy Enhnc Comm UCITS ETF

ISIN IE00BFXR6159London Stock Exchange: ENCGLegal & General Group Plc

Compare with another fund

Latest close

LSE

£14.96

on

Ongoing charge
0.30% a year
Fund size
£798m

Source: TradingView, as of , at least 15 min delayed

At a glance

As of 30/09/2026, ENCG (Mlt Strgy Enhnc Comm UCITS ETF, ISIN IE00BFXR6159) closed at £14.96 on the London Stock Exchange. Its ongoing charge is 0.30% a year (about £30 on £10,000). Over the five years to 30/09/2026 its total return was +34.5%, or +5.1% after UK CPIH inflation.

Past returns

Total return: the change in the fund’s value with any income reinvested, after its ongoing charges. Periods to .
1 year to 30/09/2026
+32.8%
+28.6% after inflation
3 years to 30/09/2026
+29.8%
+17.1% after inflation
5 years to 30/09/2026
+34.5%
+5.1% after inflation

£1,000 put in five years ago would have been worth about £1,345 on 30/09/2026 — about £1,051 in today’s spending power, once price rises are taken out. Past performance is not a guide to future returns.

Returns: TradingView (delayed data). Inflation: ONS CPIH, latest month published.

How we work it out:ReturnsReturns after inflationTotal returnReal returnCPIH

Calendar-year and 12-month returns

Calendar-year returns of Legal & General UCITS ETF Plc - Mlt Strgy Enhnc Comm UCITS ETF in pounds (price, with income reinvested in the fund): 2022 +38.2%, 2023 −7.8%, 2024 +5.0%, 2025 +1.6%; 2026 to 30/09/2026 +33.7%. Returns of Legal & General UCITS ETF Plc - Mlt Strgy Enhnc Comm UCITS ETF in pounds (price, with income reinvested in the fund) over the 12 months to 30/09/2026: +32.7%; to 30/09/2025: +11.1%; to 30/09/2024: −12.5%; to 30/09/2023: −4.7%; to 30/09/2022: +56.3%.

Calendar-year returns of ENCG, in pounds (price, with income reinvested in the fund), to 30/09/2026
YearReturnAfter inflation
to +33.7%+30.0%
+1.6%−1.9%
+5.0%+1.4%
−7.8%−11.5%
+38.2%+26.5%
Returns of ENCG over 12-month periods to 30/09/2026, in pounds (price, with income reinvested in the fund)
12 months toReturnAfter inflation
from +32.7%Not available
from +11.1%+6.8%
from −12.5%−14.7%
from −4.7%−10.4%
from +56.3%+43.7%

Source: Fundology, from recorded closes and the data vendor’s weekly price history, as of , inflation: ONS CPIH

How we work it out:Calendar-year returnsWhat a calendar-year return isAccumulating and distributing

Risk: volatility and largest fall

How far the price has swung and fallen. The same record the returns come from, in pounds.

Volatility (annualised)

16.9%over 5 years

Volatility, annualised from weekly returns, by period
1 year16.2%
3 years15.2%
5 years16.9%

Annualised from weekly returns. Higher means bumpier.

Largest fall since October 2021
−25.6%
From to
Lowest 12-month return
−21.1%
12 months to
Highest 12-month return
+78.2%
12 months to
Below its highest weekly close since October 2021
1.1%
High of , latest

In words: Volatility of Legal & General UCITS ETF Plc - Mlt Strgy Enhnc Comm UCITS ETF in pounds, annualised from weekly returns to 30/09/2026: 16.2% over 1 year, 15.2% over 3 years, 16.9% over 5 years. Largest fall in the price of Legal & General UCITS ETF Plc - Mlt Strgy Enhnc Comm UCITS ETF since October 2021, in pounds: −25.6% from 10/06/2022 to 06/09/2024. The lowest 12-month return of Legal & General UCITS ETF Plc - Mlt Strgy Enhnc Comm UCITS ETF in pounds (price, with income reinvested in the fund) since July 2021 was −21.1% (12 months to 09/06/2023); the highest was +78.2% (12 months to 19/08/2022). On 30/09/2026 the price of Legal & General UCITS ETF Plc - Mlt Strgy Enhnc Comm UCITS ETF was 1.1% below its highest weekly close since October 2021 (25/09/2026), in pounds.

Source: Fundology, from recorded closes and the data vendor’s weekly price history, as of , price, with income reinvested in the fund

How we work it out:Risk figuresFallsVolatilityLargest fall

Charges compared with similar funds

The ongoing charge is taken from the fund’s value every day, so the returns on this page are already after it. Platform and dealing fees are charged separately.
Ongoing charge
0.30%
a year
On £10,000
£30
a year, roughly
Over five years
£149
of £10,000, before growth
Among 138 gold and commodity funds, share classes counted once
  • 36 charge less
  • 6 the same
  • 95 charge more

Ongoing charge of Legal & General UCITS ETF Plc - Mlt Strgy Enhnc Comm UCITS ETF 0.30% a year, as of 01/10/2026: 95 of the 137 other gold and commodity funds charge more, 6 the same and 36 less (share classes counted once).

Source: Fund ongoing charges via TradingView, as of

A lower charge is not a promise of a higher return: what the fund holds matters more. Charges are the fund’s own published ongoing charges figure.

Read more:Ongoing charge (OCF)OCF and TERFee dragHow charges add up

In plain English

Legal & General UCITS ETF Plc - Mlt Strgy Enhnc Comm UCITS ETF is an exchange-traded fund (ETF) from L&G, launched in 2021.

It tracks the Barclays Backwardation Tilt Multi-Strategy Capped Index.

You buy and sell it through a share-dealing account or platform during stock-market hours, like a share.

Its ongoing charge is 0.3% a year — about £30 a year on every £10,000 invested, taken from the fund's value rather than billed to you.

Income from its investments is reinvested inside the fund, so it shows up as a rising price rather than cash paid to you.

Gold & commodities: Gold, silver, oil and other raw materials. They pay no dividends or interest — returns come only from price changes.

Terms:ETFIndex fundUCITSAccumulating or incomeShare classISIN

Key facts

Ticker
ENCG
ISIN
IE00BFXR6159
Provider
L&G
Tracks
Barclays Backwardation Tilt Multi-Strategy Capped Index
Structure
ETF
An exchange-traded fund: bought and sold on the stock exchange through the day, like a share.
Income
Accumulating
Income is reinvested inside the fund, so it shows up as a rising price rather than cash paid to you.
Ongoing charge
0.30% a year · about £30 on £10,000
Fund size
£798m
Launched
Domicile
Ireland
Can be held in
ISA and SIPP
Currency hedged
No
Price currency
Pounds (GBP)
Category
Gold & commodities

Price chart

Closing price
£14.96+10.9% since 31/07/2026 · closing price
ENCG closing price: £13.49 on 31/07/2026, £14.96 on 30/09/2026 (+10.9%); low £13.49, high £15.13.

Since 31/07/2026, the closing price went from £13.49 on 31/07/2026 to £14.96 on 30/09/2026 (+10.9%). The lowest close shown was £13.49 on 31/07/2026 and the highest £15.13 on 25/09/2026.

Chart: closing prices we have recorded since 31/07/2026.

Source: TradingView, as of , at least 15 min delayed

Five years of prices, and after inflation

10 weekly closes, from 31/07/2026 to 30/09/2026. The same history in September 2026 pounds, adjusted with ONS CPIH inflation.

Create a free account to see the 5-year price chart and the after-inflation chart

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How we work it out:Prices and returnsNAV and price

Funds tracking the same index

4 funds track Barclays Backwardation Tilt Multi-Strategy Capped Index, this one included and share classes counted once; their ongoing charges range from 0.30% to 0.35% a year (30/09/2026).

4 funds that track the Barclays Backwardation Tilt Multi-Strategy Capped Index, listed by name. Returns are the data vendor’s, in pounds, with income reinvested unless marked “price”.
Fund1 year5 years
Mlt Strgy Enhnc Comm UCITS ETFThis fundAccumulating · 0.30% a year+32.8%+34.5%
Mlt Strgy Enhnc Comm UCITS ETFAccumulating · Currency hedged · 0.35% a year+30.9%Not reported
Mlt Strgy Enhnc Comm UCITS ETF Shs Hedged GBPDistributing · Currency hedged · 0.30% a year+31.0%Not reported
Mlt Strgy Enhnc Comm UCITS ETF USDDistributing · 0.30% a year+33.0%Not reported

Source: TradingView reported returns and fund ongoing charges, as of

Read more:Index fundsTracking differenceHow funds are compared

Other versions of this fund

L&G’s other share classes and funds on the Barclays Backwardation Tilt Multi-Strategy Capped Index. They can differ in how income is paid, currency hedging and charge.

Read more:Share classesAccumulating or incomeCurrency hedging

Risk and return in depth

Ratios that weigh return against its ups and downs, every rolling period rather than a few fixed ones, and each large fall with how long it took to recover.

  • Sharpe, Sortino and Calmar ratios

    Sharpe, Sortino and Calmar ratios over 1, 3 and 5 years, from weekly returns in pounds.

    With a free account

  • Rolling returns

    The full range of 222 rolling 12-month returns since July 2021, and of 118 rolling three-year returns, in pounds, with how often they were above zero.

    With a free account

  • Largest falls and recoveries

    The 3 largest falls since October 2021, in pounds, with how many weeks each took to reach its low and to recover.

    With a free account

Create a free account to see the risk ratios, every rolling return and each large fall and its recovery

Sign-up takes an email address. There is no card to enter and nothing to pay.

Create a free accountSign in

Questions people ask

What is the ongoing charge of ENCG?

The ongoing charge of ENCG is 0.30% a year — about £30 a year on every £10,000 invested, taken from the fund’s value rather than billed to you. Platform and dealing fees are charged separately. Ongoing charge of Legal & General UCITS ETF Plc - Mlt Strgy Enhnc Comm UCITS ETF 0.30% a year, as of 01/10/2026: 95 of the 137 other gold and commodity funds charge more, 6 the same and 36 less (share classes counted once).

What does ENCG track?

ENCG tracks the Barclays Backwardation Tilt Multi-Strategy Capped Index.

Is ENCG accumulating or distributing?

ENCG is accumulating: income is reinvested inside the fund, so it shows up as a rising price rather than cash paid to you.

What is the ISIN of ENCG?

The ISIN of ENCG is IE00BFXR6159. An ISIN identifies one exact share class of a fund; ENCG is its ticker on the London Stock Exchange.

What were ENCG’s returns in each of the last five years?

Calendar-year returns of ENCG in pounds (price, with income reinvested in the fund): 2022 +38.2%, 2023 −7.8%, 2024 +5.0%, 2025 +1.6%; 2026 to 30/09/2026 +33.7%. Past performance is not a guide to future returns.

How has ENCG done after inflation?

Over the five years to 30/09/2026 ENCG’s total return was +34.5%, or +5.1% after UK CPIH inflation. Past performance is not a guide to future returns.

Similar funds

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Sources and dates

Prices
London Stock Exchange closes via TradingView, at least 15 minutes delayed, latest
Returns
TradingView reported returns (net asset value with income reinvested where available)
Calendar years, risk
Fundology, from recorded closes (weekly history from the data vendor where our record is short)
Inflation
ONS CPIH, latest month used August 2026
Charges
The fund’s ongoing charges figure, via TradingView
Identity
FCA Financial Instruments Reference Data System (FIRDS) and the issuer
Fund size
TradingView, converted to pounds at the latest ECB reference rate

Methodology:Data sourcesReturnsCategoriesAll methods

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