ACWD.L vs. ENGY.L

Last updated Jun 4, 2026

ACWD.L (SPDR MSCI All Country World UCITS ETF) and ENGY.L (SPDR® MSCI Europe Energy UCITS ETF) are both exchange-traded funds - ACWD.L is a Global Equities fund tracking the MSCI ACWI Index, while ENGY.L is a Energy Equities fund tracking the MSCI World/Energy NR USD. Both are passively managed. Over the past 10 years, ACWD.L returned 12.77%/yr vs 11.90%/yr for ENGY.L. At a 0.31 correlation, their price movements are largely independent. ACWD.L charges 0.12%/yr vs 0.18%/yr for ENGY.L.

Performance

ACWD.L vs. ENGY.L - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in SPDR MSCI All Country World UCITS ETF (ACWD.L) and SPDR® MSCI Europe Energy UCITS ETF (ENGY.L). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

ACWD.L is traded in USD, while ENGY.L is traded in EUR. To make them comparable, the ENGY.L values have been converted to USD using the latest available exchange rates.

Returns By Period

In the year-to-date period, ACWD.L achieves a 11.57% return, which is significantly lower than ENGY.L's 34.37% return. Over the past 10 years, ACWD.L has outperformed ENGY.L with an annualized return of 12.77%, while ENGY.L has yielded a comparatively lower 11.90% annualized return.

ACWD.L

• 1D: -0.66%
• 1M: 4.34%
• YTD: 11.57%
• 6M: 13.24%
• 1Y: 29.71%
• 3Y*: 21.32%
• 5Y*: 11.33%
• 10Y*: 12.77%

ENGY.L

• 1D: 1.71%
• 1M: -1.83%
• YTD: 34.37%
• 6M: 31.63%
• 1Y: 56.76%
• 3Y*: 21.02%
• 5Y*: 19.07%
• 10Y*: 11.90%

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

ACWD.L vs. ENGY.L - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
ACWD.L SPDR MSCI All Country World UCITS ETF	11.57%	22.83%	17.76%	22.27%	-18.37%	18.77%	15.91%	25.80%	-9.85%	24.09%
ENGY.L SPDR® MSCI Europe Energy UCITS ETF	34.37%	29.76%	-10.93%	11.02%	30.44%	26.98%	-25.47%	10.18%	-5.86%	18.67%

Correlation

The correlation between ACWD.L and ENGY.L is -0.09, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	-0.09
Correlation (3Y) Calculated over the trailing 3-year period	0.20
Correlation (5Y) Calculated over the trailing 5-year period	0.33
Correlation (10Y) Calculated over the trailing 10-year period	0.33
Correlation (All Time) Calculated using the full available price history since Feb 19, 2015	0.31

The correlation between ACWD.L and ENGY.L shifts across timeframes, from -0.09 (1 year) to 0.33 (5 years), reflecting how their relationship changes across market environments.

ACWD.L vs. ENGY.L - Sectors Allocation Comparison

Sectors	ACWD.L	ENGY.L
Technology	29.2%	0.0%
Financial Services	16.5%	0.0%
Industrials	10.9%	0.0%
Consumer Cyclical	9.3%	0.0%
Communication Services	9.0%	0.7%
Healthcare	8.0%	0.0%
Consumer Defensive	4.9%	0.0%
Energy	4.3%	99.1%
Basic Materials	3.6%	0.0%
Utilities	2.7%	0.0%
Real Estate	1.7%	0.0%

Return for Risk

ACWD.L vs. ENGY.L — Risk / Return Rank

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

ACWD.L

ACWD.L Risk / Return Rank: 72
ACWD.L Sharpe Ratio Rank: 70
ACWD.L Sortino Ratio Rank: 76
ACWD.L Omega Ratio Rank: 71
ACWD.L Calmar Ratio Rank: 67
ACWD.L Martin Ratio Rank: 73

ENGY.L

ENGY.L Risk / Return Rank: 73
ENGY.L Sharpe Ratio Rank: 73
ENGY.L Sortino Ratio Rank: 61
ENGY.L Omega Ratio Rank: 69
ENGY.L Calmar Ratio Rank: 84
ENGY.L Martin Ratio Rank: 76

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.

ACWD.L vs. ENGY.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for SPDR MSCI All Country World UCITS ETF (ACWD.L) and SPDR® MSCI Europe Energy UCITS ETF (ENGY.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.

	ACWD.L	ENGY.L	Difference
Sharpe ratio: Return per unit of total volatility	2.36	2.52	-0.17
Sortino ratio: Return per unit of downside risk	3.49	3.06	+0.42
Omega ratio: Gain probability vs. loss probability	1.44	1.43	+0.01
Calmar ratio: Return relative to maximum drawdown	3.39	5.58	-2.19
Martin ratio: Return relative to average drawdown	14.15	18.21	-4.07
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

ACWD.L vs. ENGY.L - Sharpe Ratio Comparison

The current ACWD.L Sharpe Ratio is 2.36, which is comparable to the ENGY.L Sharpe Ratio of 2.52. The chart below compares the historical Sharpe Ratios of ACWD.L and ENGY.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

	ACWD.L	ENGY.L	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.36	2.52	-0.17
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.73	0.79	-0.06
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.80	0.54	+0.27
Sharpe Ratio (All Time) Calculated using the full available price history	0.73	0.43	+0.30

Drawdowns

ACWD.L vs. ENGY.L - Drawdown Comparison

The maximum ACWD.L drawdown since its inception was -33.64%, smaller than the maximum ENGY.L drawdown of -61.34%. Use the drawdown chart below to compare losses from any high point for ACWD.L and ENGY.L.

Drawdown Indicators

	ACWD.L	ENGY.L	Difference
Max Drawdown Largest peak-to-trough decline	-33.64%	-61.34%	+27.70%
Max Drawdown (1Y) Largest decline over 1 year	-8.73%	-10.12%	+1.39%
Max Drawdown (3Y) Largest decline over 3 years	-16.51%	-24.38%	+7.87%
Max Drawdown (5Y) Largest decline over 5 years	-26.18%	-24.41%	-1.77%
Max Drawdown (10Y) Largest decline over 10 years	-33.64%	-61.34%	+27.70%
Current Drawdown Current decline from peak	-0.66%	-5.03%	+4.37%
Average Drawdown Average peak-to-trough decline	-4.67%	-12.71%	+8.04%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.09%	3.11%	-1.02%

Volatility

ACWD.L vs. ENGY.L - Volatility Comparison

The current volatility for SPDR MSCI All Country World UCITS ETF (ACWD.L) is 3.87%, while SPDR® MSCI Europe Energy UCITS ETF (ENGY.L) has a volatility of 7.89%. This indicates that ACWD.L experiences smaller price fluctuations and is considered to be less risky than ENGY.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	ACWD.L	ENGY.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.87%	7.89%	-4.02%
Volatility (6M) Calculated over the trailing 6-month period	9.89%	18.97%	-9.08%
Volatility (1Y) Calculated over the trailing 1-year period	12.56%	22.37%	-9.81%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.58%	25.85%	-10.27%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.85%	30.93%	-15.08%

ACWD.L vs. ENGY.L - Expense Ratio Comparison

ACWD.L has a 0.12% expense ratio, which is lower than ENGY.L's 0.18% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

ACWD.L vs. ENGY.L - Dividend Comparison

Neither ACWD.L nor ENGY.L has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both ACWD.L and ENGY.L in my portfolio?

ACWD.L and ENGY.L have a correlation of -0.09, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, ACWD.L or ENGY.L?

On fees, ACWD.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, ACWD.L or ENGY.L?

ACWD.L is cheaper with a 0.12% expense ratio, compared with 0.18% for ENGY.L.

What is the main difference between ACWD.L and ENGY.L?

ACWD.L is categorized as Global Equities, while ENGY.L is Energy Equities. ACWD.L tracks MSCI ACWI Index, while ENGY.L tracks MSCI World/Energy NR USD. Their fees differ too: 0.12% for ACWD.L and 0.18% for ENGY.L.