ENGE.L vs. TLH
ENGE.L (SPDR MSCI Europe Energy UCITS ETF) and TLH (iShares 10-20 Year Treasury Bond ETF) are both exchange-traded funds - ENGE.L is a Energy Equities fund tracking the MSCI World/Energy NR USD, while TLH is a Government Bonds fund tracking the ICE U.S. Treasury 10-20 Year Bond Index. Both are passively managed. Over the past 3 years, ENGE.L returned 17.62%/yr vs -2.00%/yr for TLH. At a correlation of -0.14, they often move in opposite directions. ENGE.L charges 0.18%/yr vs 0.15%/yr for TLH.
Performance
ENGE.L vs. TLH - Performance Comparison
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Different Trading Currencies
ENGE.L is traded in GBP, while TLH is traded in USD. To make them comparable, the TLH values have been converted to GBP using the latest available exchange rates.
Returns By Period
In the year-to-date period, ENGE.L achieves a 33.47% return, which is significantly higher than TLH's 0.05% return.
ENGE.L
- 1D
- -0.79%
- 1M
- 1.77%
- YTD
- 33.47%
- 6M
- 31.39%
- 1Y
- 58.60%
- 3Y*
- 17.62%
- 5Y*
- —
- 10Y*
- —
TLH
- 1D
- 0.00%
- 1M
- 0.86%
- YTD
- 0.05%
- 6M
- -1.10%
- 1Y
- 5.35%
- 3Y*
- -2.00%
- 5Y*
- -2.74%
- 10Y*
- -0.01%
ENGE.L vs. TLH - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
ENGE.L SPDR MSCI Europe Energy UCITS ETF | 33.47% | 20.13% | -9.19% | 5.91% | 21.28% |
TLH iShares 10-20 Year Treasury Bond ETF | 0.05% | -1.12% | -2.54% | -1.17% | -10.53% |
Correlation
The correlation between ENGE.L and TLH is -0.12, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.12 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.08 |
Correlation (All Time) Calculated using the full available price history since Apr 5, 2022 | -0.14 |
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Return for Risk
ENGE.L vs. TLH — Risk / Return Rank
ENGE.L
TLH
ENGE.L vs. TLH - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for SPDR MSCI Europe Energy UCITS ETF (ENGE.L) and iShares 10-20 Year Treasury Bond ETF (TLH). 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.
| ENGE.L | TLH | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.97 | ||
| Sortino ratioReturn per unit of downside risk | +2.09 | ||
| Omega ratioGain probability vs. loss probability | 1.45 | 1.11 | +0.34 |
| Calmar ratioReturn relative to maximum drawdown | 4.93 | 0.79 | +4.15 |
| Martin ratioReturn relative to average drawdown | 14.51 | 1.70 | +12.82 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| ENGE.L | TLH | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.60 | 0.63 | +1.97 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | -0.20 | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | -0.00 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.72 | 0.37 | +0.35 |
Drawdowns
ENGE.L vs. TLH - Drawdown Comparison
The maximum ENGE.L drawdown since its inception was -25.54%, smaller than the maximum TLH drawdown of -42.25%. Use the drawdown chart below to compare losses from any high point for ENGE.L and TLH.
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Drawdown Indicators
| ENGE.L | TLH | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -25.54% | -42.25% | +16.71% |
Max Drawdown (1Y)Largest decline over 1 year | -11.77% | -6.82% | -4.95% |
Max Drawdown (3Y)Largest decline over 3 years | -25.54% | -12.85% | -12.69% |
Max Drawdown (5Y)Largest decline over 5 years | — | -29.52% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -42.25% | — |
Current DrawdownCurrent decline from peak | -7.24% | -37.59% | +30.35% |
Average DrawdownAverage peak-to-trough decline | -8.15% | -14.94% | +6.79% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.01% | 3.16% | +0.85% |
Volatility
ENGE.L vs. TLH - Volatility Comparison
SPDR MSCI Europe Energy UCITS ETF (ENGE.L) has a higher volatility of 8.22% compared to iShares 10-20 Year Treasury Bond ETF (TLH) at 1.97%. This indicates that ENGE.L's price experiences larger fluctuations and is considered to be riskier than TLH based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| ENGE.L | TLH | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 8.22% | 1.97% | +6.25% |
Volatility (6M)Calculated over the trailing 6-month period | 19.02% | 6.34% | +12.68% |
Volatility (1Y)Calculated over the trailing 1-year period | 22.37% | 8.57% | +13.80% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 22.66% | 13.58% | +9.08% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 22.66% | 13.80% | +8.86% |
ENGE.L vs. TLH - Expense Ratio Comparison
ENGE.L has a 0.18% expense ratio, which is higher than TLH's 0.15% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
ENGE.L vs. TLH - Dividend Comparison
ENGE.L has not paid dividends to shareholders, while TLH's dividend yield for the trailing twelve months is around 4.50%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
ENGE.L SPDR MSCI Europe Energy UCITS ETF | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
TLH iShares 10-20 Year Treasury Bond ETF | 4.50% | 4.17% | 4.28% | 3.83% | 2.78% | 1.50% | 2.65% | 2.31% | 2.17% | 1.83% | 1.91% | 2.13% |
Frequently Asked Questions
ENGE.L and TLH have a correlation of -0.12, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, TLH is cheaper at 0.15% per year. The better choice depends on whether you care most about return, fees, risk, or income.
TLH is cheaper with a 0.15% expense ratio, compared with 0.18% for ENGE.L.
ENGE.L is categorized as Energy Equities, while TLH is Government Bonds. ENGE.L tracks MSCI World/Energy NR USD, while TLH tracks ICE U.S. Treasury 10-20 Year Bond Index. They also come from different issuers: State Street and iShares. Their fees differ too: 0.18% for ENGE.L and 0.15% for TLH.
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