ETF (UCITS compliant)

L&G Russell 2000 US Small Cap Quality UCITS ETF

Fund facts

Fund size*
Base currency
Listing date
25 Sep 2008
Index ticker
Replication method
Physical - optimised replication


*As at 23 Sep 2022

Fund aim

The L&G Russell 2000 US Small Cap Quality UCITS ETF (the “ETF”) aims to track the performance of the Russell 2000 0.4 Quality Target Exposure Factor Net Tax Index (the “Index”).

  • Sector allocation

Invest in the growth potential of US small caps

  • Diversification

Diversify a US large cap portfolio with a broad basket of 2,000 US small caps

Russell 2000 0.4 Quality Target Exposure Factor Net Tax Index

The Index measures the performance of a basket of stocks within the small-capitalisation segment of the U.S. equity market. The Index derives its universe from the Russell 2000 Index which includes approximately 2000 of the smallest securities based on a combination of their market capitalisation and current index membership. The Index then applies a quality tilt by adjusting the market cap weight of those constituents with better quality characteristics upwards and adjusting the market cap weights of those with poorer quality characteristics downwards such the target active quality factor exposure, set at 0.4, is achieved. Securities with a weight of less than 2 basis points are removed from the Index. Quality factor is defined as a composite measure of a company’s profitability and leverage and is determined by FTSE International Limited (the “Index Administrator”) using a rules-based approach, as further described in the index methodology document.

Index data

FTSE Russell
Bloomberg code
Reuters code
Net Total Return

Fund updates


Source: Lipper.

Performance (%)
Select period:

    Performance summary (%)

    As at 30 Jun 2022

    1 month-7.75-7.79
    6 months-22.46-22.55
    Year to date-22.46-22.55
    3 years18.4118.84
    5 years32.8734.04
    Since launch189.35-
    1 year-21.62-21.57
    3 years5.795.92
    5 years5.856.03
    Since launch8.02-

    As at 30 Jun 2022

    Year to date-22.46-22.55
    3 years18.4118.84
    5 years32.8734.04
    Since launch189.35-
    1 year-21.62-21.57
    3 years5.795.92
    5 years5.856.03
    Since launch8.02-
    Rolling 12-month performance
    Calendar year performance
    Monthly performance
    Annualised performance

    Rolling 12-month performance to last quarter end (%)

    12 months to 30 June 2018 2019 2020 2021 2022

    Calendar year performance (%)

    2017 2018 2019 2020 2021

    Monthly performance (%)

    Annualised performance (%)

    1 year3 years5 yearsSince launch

    Annualised performance (%)

    1 year3 years5 yearsSince launch

    Performance for the USD Accumulating ETF class in USD, listed on 25 September 2008. Source: Lipper. Performance assumes all ETF charges have been taken and that all income generated by the investments, after deduction of tax, remains in the ETF.

    Past performance is not a guide to the future.


    As at 30 Jun 2022. All data source LGIM unless otherwise stated. Totals may not sum to 100% due to rounding.

    The breakdowns below relate to the Index.

    Sector (%)

    Health Care16.9
    Information Technology13.6
    Consumer Discretionary10.7
    Real Estate7.4
    Consumer Staples3.8

    Currency (%)

    Top 10 constituents5.2
    Rest of Index94.8
    No. of constituents in Index1,128

    Top 10 constituents (%)

    Shockwave Medical0.8
    PS Business Parks0.6
    Moelis & Company0.6
    Artisan Partners Asset Management0.5
    Houlihan Lokey0.4
    Texas Roadhouse0.4
    Cohen & Steers0.4
    UFP Industries0.4

    Country (%)

    United States95.0
    Cayman Islands0.7
    United Kingdom0.4
    Puerto Rico0.3
    British Virgin Islands0.3
    Marshall Islands0.2

    Investment Manager

    The Index Fund Management team comprises 25 fund managers, supported by two analysts. Management oversight is provided by the Global Head of Index Funds. The team has average industry experience of 15 years, of which seven years has been at LGIM, and is focused on achieving the equally important objectives of close tracking and maximising returns.

    LGIMIndex Fund Management Team


    Marketing documents


    USD Acc
    Price time
    16:00 EST (NY)

    Further details

    Charges and tax

    ISA eligible
    SIPP eligible
    UK Fund Reporting Status

    Management / administration

    Legal & General UCITS ETF Plc
    Depositary and Trustee
    The Bank of New York Mellon SA/NV, Dublin Branch
    Securities regulator
    Central Bank of Ireland

    Country registration

    This share class is registered for sale in the following countries:


    ExchangeCurrencyTickerListing dateISINBloomberg codeReuters codeTrading hours (local)
    London Stock ExchangeGBPRTWP06/11/2008IE00B3CNHJ55RTWP LNRTWP.L08:00 - 16:30
    London Stock ExchangeUSDRTWO25/09/2008IE00B3CNHJ55RTWO LNRTWO.L08:00 - 16:30
    Borsa ItalianaEURRTWO29/01/2009IE00B3CNHJ55RTWO IMRTWO.MI09:00 - 17:30
    Deutsche Börse XetraEURETLZ04/12/2008IE00B3CNHJ55ETLZ GYETLZ.DE09:00 - 17:30
    Euronext AmsterdamEURRTWO15/09/2008IE00B3CNHJ55RTWO NARTWO.AS09:00 - 17:30

    Key risks

    The value of an investment and any income taken from it is not guaranteed and can go down as well as up. You may not get back the amount you originally invested.

    Past performance is not a guide to the future.

    An investment in the ETF involves a significant degree of risk. Any decision to invest should be based on the information contained in the relevant prospectus. Prospective investors should obtain their own independent accounting, tax and legal advice and should consult their own professional advisers to ascertain the suitability of the ETF as an investment.

    Market trading in commodity futures contracts can be extremely “volatile”. This means that the prices of the futures contracts comprised in the Index may fluctuate rapidly based on numerous factors, including supply and demand relationships, weather, agriculture, trade, economic or political events, technological developments, interest rates and governmental policies.

    If a swap counterparty is no longer willing or able to continue entering into swaps with the ETF, the ETF will not be able to continue tracking the Index.

    If a swap counterparty increases the cost of entering into swaps with the ETF, the ETF’s performance will be negatively impacted.

    Third party service providers (such as swap counterparties or the ETF’s depositary) may go bankrupt and fail to pay money due to the ETF or return property belonging to the ETF.

    If the Index provider stops calculating the Index or if the ETF’s license to track the Index is terminated, the ETF may have to be closed.

    It may not always be possible to buy and sell ETF shares on a stock exchange or at prices closely reflecting the NAV.

    There is no capital guarantee or protection on the value of the ETF. Investors can lose all the capital invested in the ETF.

    Please refer to the “Risk Factors” section of the Issuer’s Prospectus and the Fund Supplement.

    For more information, please refer to the key investor information document.

    Important information

    In the United Kingdom and outside the European Economic Area, it is issued by Legal & General Investment Management Limited, authorised and regulated by the Financial Conduct Authority, No. 119272. Registered in England and Wales No. 02091894 with registered office at One Coleman Street, London, EC2R 5AA.

    In the European Economic Area, it is issued by LGIM Managers (Europe) Limited, authorised by the Central Bank of Ireland as a UCITS management company (pursuant to European Communities (Undertakings for Collective Investment in Transferable Securities) Regulations, 2011 (S.I. No. 352 of 2011), as amended) and as an alternative investment fund manager with “top up” permissions which enable the firm to carry out certain additional MiFID investment services (pursuant to the European Union (Alternative Investment Fund Managers) Regulations 2013 (S.I. No. 257 of 2013), as amended). Registered in Ireland with the Companies Registration Office (No. 609677). Registered Office: 70 Sir John Rogerson’s Quay, Dublin, 2, Ireland. Regulated by the Central Bank of Ireland (No. C173733).

    LGIM Managers (Europe) Limited operates a branch network in the European Economic Area, which is subject to supervision by the Central Bank of Ireland. In Italy, the branch office of LGIM Managers (Europe) Limited is subject to limited supervision by the Commissione Nazionale per le società e la Borsa (“CONSOB”) and is registered with Banca d’Italia (no. 23978.0) with registered office at Via Uberto Visconti di Modrone, 15, 20122 Milan, (Companies’ Register no. MI - 2557936). In Germany, the branch office of LGIM Managers (Europe) Limited is subject to limited supervision by the German Federal Financial Supervisory Authority (“BaFin”). In the Netherlands, the branch office of LGIM Managers (Europe) Limited is subject to limited supervision by the Dutch Authority for the Financial Markets (“AFM“) and it is included in the register held by the AFM and registered with the trade register of the Chamber of Commerce under number 74481231. Details about the full extent of our relevant authorisations and permissions are available from us upon request.

    We are a member of the Irish Funds Association.

    All features described on this website are those current at the time of publication and may be changed in the future. Nothing on this website should be construed as advice and it is therefore not a recommendation to buy or sell securities. If in doubt about the suitability of this product, you should seek professional advice. Copies of the prospectus, key investor information document, annual and semi-annual reports & accounts are available free of charge on request or at

    This website is only directed at investors resident in jurisdictions where our funds are registered for sale. It is not an offer or invitation to persons outside of those jurisdictions. We reserve the right to reject any applications from outside of such jurisdictions.

    Source and third party data

    Source: Unless otherwise indicated all data contained on this website is sourced from Legal & General Investment Management Limited.

    Where this document contains third party data ('Third Party Data’), we cannot guarantee the accuracy, completeness or reliability of such Third Party Data and accept no responsibility or liability whatsoever in respect of such Third Party Data

    Index disclaimer

    The Russell 2000 0.4 Quality Target Exposure Factor Net Tax Index (the “Index”) is a trademark of Frank Russell Company (“Russell”) and has been licensed for use by the L&G Russell 2000 US Small Cap Quality UCITS ETF (the “ETF”). The ETF is not in any way sponsored, endorsed, sold or promoted by Russell or the London Stock Exchange Group companies (“LSEG”) (together the “Licensor Parties”) and none of the Licensor Parties make any claim, prediction, warranty or representation whatsoever, expressly or impliedly, either as to (i) the results to be obtained from the use of the Index (upon which the ETF is based), (ii) the figure at which the Index is said to stand at any particular time on any particular day or otherwise, or (iii) the suitability of the Index for the purpose to which it is being put in connection with the ETF. None of the Licensor Parties have provided or will provide any financial or investment advice or recommendation in relation to the Index to Legal & General UCITS ETF Plc or to its investors. The Index is calculated by Russell or its agent. None of the Licensor Parties shall be (a) liable (whether in negligence or otherwise) to any person for any error in the Index or (b) under any obligation to advise any person of any error therein.

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