L&G Multi-Strategy Enhanced Commodities UCITS ETF GBP is a commodities ETF from L&G tracking the Multi-Strategy Enhanced Commodities index through physical replication. Domiciled in Ireland and launched in 2021, the fund manages about 1.2 bn € and charges a TER of 0.30% — 30 € per year on a €10,000 investment. Income is automatically reinvested in the fund (accumulating).
L&G Multi-Strategy Enhanced Commodities UCITS ETF GBP competes with 72 other products in the same class and region (Commodities, Global): it ranks 17th by fund size and 29th by ongoing cost, with a TER of 0.30% against a group median of 0.30%. It has been listed since 2021, 5 years of track record.
On a €10,000 investment the TER costs 30 € a year, against 30 € for the median product in the category.
Replication is physical: the fund holds the underlying securities directly.
Income is accumulated: no distribution is paid out, the share price absorbs it. In a savings plan this removes the need to reinvest dividends by hand. The fund is denominated in GBP. That is not the same as currency risk: the exposure comes from the currencies of the underlying holdings, not from the denomination or the trading currency of a given listing.
The fund is domiciled in Ireland, which determines the tax treatment of income received by the fund and the supervisory authority.
| Borsa Italiana | ENCO | EUR |
| XETRA | EN4C | EUR |
| London Stock Exchange | ENCG | GBX |
| London Stock Exchange | ENCO | USD |
| SIX Swiss Exchange | ENCO | CHF |
Source: the fund's KID and the issuer's official documentation — data verified as of July 2026.
This page is informational and is not an investment recommendation. Figures may contain errors or be out of date: always check the KID and the issuer's factsheet before any decision.