ENGW.L vs. GLD
ENGW.L (SPDR MSCI World Energy UCITS ETF) and GLD (SPDR Gold Shares) are both exchange-traded funds - ENGW.L is a Energy Equities fund tracking the MSCI World/Energy NR USD, while GLD is a Gold fund tracking the LBMA Gold Price PM. Both are passively managed. Over the past 10 years, ENGW.L returned 6.24%/yr vs 12.82%/yr for GLD. At a correlation of -0.02, they often move in opposite directions. ENGW.L charges 0.30%/yr vs 0.40%/yr for GLD.
Performance
ENGW.L vs. GLD - Performance Comparison
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Different Trading Currencies
ENGW.L is traded in GBP, while GLD is traded in USD. To make them comparable, the GLD 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 30.02% return, which is significantly higher than GLD's -1.99% return. Over the past 10 years, ENGW.L has underperformed GLD with an annualized return of 6.24%, while GLD has yielded a comparatively higher 12.82% annualized return.
ENGW.L
- 1D
- 0.00%
- 1M
- 1.62%
- YTD
- 30.02%
- 6M
- 29.20%
- 1Y
- 43.59%
- 3Y*
- 15.45%
- 5Y*
- 12.00%
- 10Y*
- 6.24%
GLD
- 1D
- 2.92%
- 1M
- -9.85%
- YTD
- -1.99%
- 6M
- -1.87%
- 1Y
- 26.68%
- 3Y*
- 25.64%
- 5Y*
- 18.28%
- 10Y*
- 12.82%
ENGW.L vs. GLD - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
ENGW.L SPDR MSCI World Energy UCITS ETF | 30.02% | 7.20% | 3.55% | -2.06% | 20.76% | 40.49% | -31.10% | 11.37% | -15.80% | 5.24% |
GLD SPDR Gold Shares | -1.99% | 52.02% | 28.87% | 7.06% | 11.03% | -3.24% | 21.15% | 13.37% | 3.87% | 3.05% |
Correlation
The correlation between ENGW.L and GLD is 0.03, 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 | 0.03 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.09 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.05 |
Correlation (10Y) Calculated over the trailing 10-year period | -0.02 |
Correlation (All Time) Calculated using the full available price history since Jan 4, 2011 | -0.02 |
The correlation between ENGW.L and GLD shifts across timeframes, from -0.02 (10 years) to 0.09 (3 years), reflecting how their relationship changes across market environments.
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Return for Risk
ENGW.L vs. GLD — Risk / Return Rank
ENGW.L
GLD
ENGW.L vs. GLD - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for SPDR MSCI World Energy UCITS ETF (ENGW.L) and SPDR Gold Shares (GLD). 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.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| ENGW.L | GLD | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.03 | ||
| Sortino ratioReturn per unit of downside risk | +1.10 | ||
| Omega ratioGain probability vs. loss probability | 1.37 | 1.21 | +0.16 |
| Calmar ratioReturn relative to maximum drawdown | 3.01 | 1.15 | +1.86 |
| Martin ratioReturn relative to average drawdown | 9.59 | 3.46 | +6.13 |
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Drawdowns
ENGW.L vs. GLD - Drawdown Comparison
The maximum ENGW.L drawdown since its inception was -69.49%, which is greater than GLD's maximum drawdown of -41.89%. Use the drawdown chart below to compare losses from any high point for ENGW.L and GLD.
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Drawdown Indicators
| ENGW.L | GLD | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -69.49% | -41.89% | -27.60% |
Max Drawdown (1Y)Largest decline over 1 year | -14.56% | -23.37% | +8.81% |
Max Drawdown (3Y)Largest decline over 3 years | -21.40% | -23.37% | +1.97% |
Max Drawdown (5Y)Largest decline over 5 years | -28.10% | -23.37% | -4.73% |
Max Drawdown (10Y)Largest decline over 10 years | -64.68% | -23.37% | -41.31% |
Current DrawdownCurrent decline from peak | -8.12% | -21.13% | +13.01% |
Average DrawdownAverage peak-to-trough decline | -20.76% | -13.23% | -7.53% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.56% | 7.73% | -3.17% |
Volatility
ENGW.L vs. GLD - Volatility Comparison
The current volatility for SPDR MSCI World Energy UCITS ETF (ENGW.L) is 6.62%, while SPDR Gold Shares (GLD) has a volatility of 7.13%. This indicates that ENGW.L experiences smaller price fluctuations and is considered to be less risky than GLD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| ENGW.L | GLD | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.62% | 7.13% | -0.51% |
Volatility (6M)Calculated over the trailing 6-month period | 18.24% | 22.62% | -4.38% |
Volatility (1Y)Calculated over the trailing 1-year period | 21.29% | 26.02% | -4.73% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 25.49% | 16.94% | +8.55% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 26.79% | 16.32% | +10.47% |
ENGW.L vs. GLD - Expense Ratio Comparison
ENGW.L has a 0.30% expense ratio, which is lower than GLD's 0.40% expense ratio.
Dividends
ENGW.L vs. GLD - Dividend Comparison
Neither ENGW.L nor GLD has paid dividends to shareholders.
Frequently Asked Questions
ENGW.L and GLD have a correlation of 0.03, 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 0.40% for GLD.
ENGW.L is categorized as Energy Equities, while GLD is Gold. ENGW.L tracks MSCI World/Energy NR USD, while GLD tracks LBMA Gold Price PM. Their fees differ too: 0.30% for ENGW.L and 0.40% for GLD.
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