ENGW.L vs. GCLX.L
ENGW.L (SPDR MSCI World Energy UCITS ETF) and GCLX.L (Invesco Global Clean Energy UCITS ETF Acc) are both Energy Equities funds - ENGW.L tracks the MSCI World/Energy NR USD while GCLX.L tracks the S&P Global Clean Energy TR USD. Both are passively managed. Over the past 3 years, ENGW.L returned 15.70%/yr vs 5.24%/yr for GCLX.L. At a 0.24 correlation, their price movements are largely independent. ENGW.L charges 0.30%/yr vs 0.60%/yr for GCLX.L.
Performance
ENGW.L vs. GCLX.L - Performance Comparison
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Different Trading Currencies
ENGW.L is traded in GBP, while GCLX.L is traded in GBp. To make them comparable, the GCLX.L values have been converted to GBP using the latest available exchange rates.
Returns By Period
In the year-to-date period, ENGW.L achieves a 30.79% return, which is significantly lower than GCLX.L's 36.06% return.
ENGW.L
- 1D
- -0.52%
- 1M
- -0.82%
- YTD
- 30.79%
- 6M
- 28.06%
- 1Y
- 48.84%
- 3Y*
- 15.70%
- 5Y*
- —
- 10Y*
- —
GCLX.L
- 1D
- -0.90%
- 1M
- 3.33%
- YTD
- 36.06%
- 6M
- 36.43%
- 1Y
- 88.67%
- 3Y*
- 5.24%
- 5Y*
- -3.55%
- 10Y*
- —
ENGW.L vs. GCLX.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
ENGW.L SPDR MSCI World Energy UCITS ETF | 30.79% | 7.20% | 3.55% | -2.06% | 20.65% |
GCLX.L Invesco Global Clean Energy UCITS ETF Acc | 36.06% | 32.48% | -25.40% | -15.38% | -20.53% |
Correlation
The correlation between ENGW.L and GCLX.L is -0.06, 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 | -0.06 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.21 |
Correlation (All Time) Calculated using the full available price history since Apr 5, 2022 | 0.24 |
The correlation between ENGW.L and GCLX.L shifts across timeframes, from -0.06 (1 year) to 0.24 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
ENGW.L vs. GCLX.L — Risk / Return Rank
ENGW.L
GCLX.L
ENGW.L vs. GCLX.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for SPDR MSCI World Energy UCITS ETF (ENGW.L) and Invesco Global Clean Energy UCITS ETF Acc (GCLX.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.
| ENGW.L | GCLX.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.91 | ||
| Sortino ratioReturn per unit of downside risk | -2.19 | ||
| Omega ratioGain probability vs. loss probability | 1.41 | 1.67 | -0.25 |
| Calmar ratioReturn relative to maximum drawdown | 3.34 | 8.26 | -4.92 |
| Martin ratioReturn relative to average drawdown | 11.05 | 27.52 | -16.48 |
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
| ENGW.L | GCLX.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.30 | 4.21 | -1.91 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | -0.14 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.61 | -0.24 | +0.85 |
Drawdowns
ENGW.L vs. GCLX.L - Drawdown Comparison
The maximum ENGW.L drawdown since its inception was -21.65%, smaller than the maximum GCLX.L drawdown of -69.45%. Use the drawdown chart below to compare losses from any high point for ENGW.L and GCLX.L.
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Drawdown Indicators
| ENGW.L | GCLX.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -21.65% | -69.45% | +47.80% |
Max Drawdown (1Y)Largest decline over 1 year | -14.56% | -10.67% | -3.89% |
Max Drawdown (3Y)Largest decline over 3 years | -21.40% | -52.84% | +31.44% |
Max Drawdown (5Y)Largest decline over 5 years | — | -68.40% | — |
Current DrawdownCurrent decline from peak | -7.57% | -29.12% | +21.55% |
Average DrawdownAverage peak-to-trough decline | -8.76% | -40.37% | +31.61% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.41% | 3.21% | +1.20% |
Volatility
ENGW.L vs. GCLX.L - Volatility Comparison
SPDR MSCI World Energy UCITS ETF (ENGW.L) and Invesco Global Clean Energy UCITS ETF Acc (GCLX.L) have volatilities of 8.05% and 8.47%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| ENGW.L | GCLX.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 8.05% | 8.47% | -0.42% |
Volatility (6M)Calculated over the trailing 6-month period | 18.04% | 14.49% | +3.55% |
Volatility (1Y)Calculated over the trailing 1-year period | 21.21% | 20.98% | +0.23% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 22.79% | 25.59% | -2.80% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 22.79% | 26.20% | -3.41% |
ENGW.L vs. GCLX.L - Expense Ratio Comparison
ENGW.L has a 0.30% expense ratio, which is lower than GCLX.L's 0.60% expense ratio.
Dividends
ENGW.L vs. GCLX.L - Dividend Comparison
Neither ENGW.L nor GCLX.L has paid dividends to shareholders.
Frequently Asked Questions
ENGW.L and GCLX.L have a correlation of -0.06, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, ENGW.L is cheaper at 0.30% per year. The better choice depends on whether you care most about return, fees, risk, or income.
ENGW.L is cheaper with a 0.30% expense ratio, compared with 0.60% for GCLX.L.
ENGW.L tracks MSCI World/Energy NR USD, while GCLX.L tracks S&P Global Clean Energy TR USD. They also come from different issuers: State Street and Invesco. Their fees differ too: 0.30% for ENGW.L and 0.60% for GCLX.L.
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