ENGW.L vs. IUES.L
ENGW.L (SPDR MSCI World Energy UCITS ETF) and IUES.L (iShares S&P 500 Energy Sector UCITS ETF USD (Acc)) are both Energy Equities funds tracking the MSCI World/Energy NR USD, from State Street and iShares respectively. Both are passively managed. Over the past 3 years, ENGW.L returned 16.05%/yr vs 14.17%/yr for IUES.L. Their correlation of 0.95 suggests significant overlap in exposure. ENGW.L charges 0.30%/yr vs 0.15%/yr for IUES.L.
Performance
ENGW.L vs. IUES.L - Performance Comparison
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Different Trading Currencies
ENGW.L is traded in GBP, while IUES.L is traded in USD. To make them comparable, the IUES.L values have been converted to GBP using the latest available exchange rates.
Returns By Period
The year-to-date returns for both stocks are quite close, with ENGW.L having a 31.48% return and IUES.L slightly lower at 31.41%.
ENGW.L
- 1D
- 2.24%
- 1M
- 0.93%
- YTD
- 31.48%
- 6M
- 29.41%
- 1Y
- 47.44%
- 3Y*
- 16.05%
- 5Y*
- —
- 10Y*
- —
IUES.L
- 1D
- 2.55%
- 1M
- 1.24%
- YTD
- 31.41%
- 6M
- 29.58%
- 1Y
- 45.68%
- 3Y*
- 14.17%
- 5Y*
- 21.71%
- 10Y*
- 10.38%
ENGW.L vs. IUES.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
ENGW.L SPDR MSCI World Energy UCITS ETF | 31.48% | 7.20% | 3.55% | -2.06% | 20.65% |
IUES.L iShares S&P 500 Energy Sector UCITS ETF USD (Acc) | 31.41% | 1.99% | 5.69% | -5.60% | 26.70% |
Correlation
The correlation between ENGW.L and IUES.L is 0.94, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.94 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.95 |
Correlation (All Time) Calculated using the full available price history since Apr 5, 2022 | 0.95 |
The correlation between ENGW.L and IUES.L has been stable across timeframes, ranging from 0.94 to 0.95 - a consistent structural relationship.
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Return for Risk
ENGW.L vs. IUES.L — Risk / Return Rank
ENGW.L
IUES.L
ENGW.L vs. IUES.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 iShares S&P 500 Energy Sector UCITS ETF USD (Acc) (IUES.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 | IUES.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.26 | ||
| Sortino ratioReturn per unit of downside risk | +0.24 | ||
| Omega ratioGain probability vs. loss probability | 1.40 | 1.34 | +0.06 |
| Calmar ratioReturn relative to maximum drawdown | 3.24 | 2.74 | +0.50 |
| Martin ratioReturn relative to average drawdown | 10.79 | 8.52 | +2.27 |
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 | IUES.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.23 | 1.97 | +0.26 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | 0.82 | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.37 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.61 | 0.36 | +0.26 |
Drawdowns
ENGW.L vs. IUES.L - Drawdown Comparison
The maximum ENGW.L drawdown since its inception was -21.65%, smaller than the maximum IUES.L drawdown of -62.40%. Use the drawdown chart below to compare losses from any high point for ENGW.L and IUES.L.
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Drawdown Indicators
| ENGW.L | IUES.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -21.65% | -62.40% | +40.75% |
Max Drawdown (1Y)Largest decline over 1 year | -14.56% | -16.59% | +2.03% |
Max Drawdown (3Y)Largest decline over 3 years | -21.40% | -23.92% | +2.52% |
Max Drawdown (5Y)Largest decline over 5 years | — | -23.92% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -62.40% | — |
Current DrawdownCurrent decline from peak | -7.08% | -8.77% | +1.69% |
Average DrawdownAverage peak-to-trough decline | -8.76% | -16.00% | +7.24% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.38% | 5.34% | -0.96% |
Volatility
ENGW.L vs. IUES.L - Volatility Comparison
The current volatility for SPDR MSCI World Energy UCITS ETF (ENGW.L) is 8.13%, while iShares S&P 500 Energy Sector UCITS ETF USD (Acc) (IUES.L) has a volatility of 8.80%. This indicates that ENGW.L experiences smaller price fluctuations and is considered to be less risky than IUES.L 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 | IUES.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 8.13% | 8.80% | -0.67% |
Volatility (6M)Calculated over the trailing 6-month period | 18.03% | 19.56% | -1.53% |
Volatility (1Y)Calculated over the trailing 1-year period | 21.27% | 23.19% | -1.92% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 22.80% | 26.63% | -3.83% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 22.80% | 28.23% | -5.43% |
ENGW.L vs. IUES.L - Expense Ratio Comparison
ENGW.L has a 0.30% expense ratio, which is higher than IUES.L's 0.15% expense ratio.
Dividends
ENGW.L vs. IUES.L - Dividend Comparison
Neither ENGW.L nor IUES.L has paid dividends to shareholders.
Frequently Asked Questions
With a correlation of 0.94, ENGW.L and IUES.L move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.
On fees, IUES.L is cheaper at 0.15% per year. The better choice depends on whether you care most about return, fees, risk, or income.
IUES.L is cheaper with a 0.15% expense ratio, compared with 0.30% for ENGW.L.
Both ETFs track MSCI World/Energy NR USD. They also come from different issuers: State Street and iShares. Their fees differ too: 0.30% for ENGW.L and 0.15% for IUES.L.
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