ENGW.L vs. PEX

Last updated Apr 1, 2026

Compare and contrast key facts about SPDR MSCI World Energy UCITS ETF (ENGW.L) and ProShares Global Listed Private Equity ETF (PEX).

ENGW.L and PEX are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. ENGW.L is a passively managed fund by State Street that tracks the performance of the MSCI World/Energy NR USD. It was launched on Apr 29, 2016. PEX is a passively managed fund by ProShares that tracks the performance of the LPX Direct Listed Private Equity Index. It was launched on Feb 26, 2013. Both ENGW.L and PEX are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.

Performance

ENGW.L vs. PEX - Performance Comparison

The chart below illustrates the hypothetical performance of a £10,000 investment in SPDR MSCI World Energy UCITS ETF (ENGW.L) and ProShares Global Listed Private Equity ETF (PEX). The values are adjusted to include any dividend payments, if applicable.

ENGW.L vs. PEX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
ENGW.L SPDR MSCI World Energy UCITS ETF	40.78%	7.20%	3.55%	-2.06%	20.65%
PEX ProShares Global Listed Private Equity ETF	-12.33%	-6.93%	15.03%	16.96%	-12.65%

Different Trading Currencies

ENGW.L is traded in GBP, while PEX is traded in USD. To make them comparable, the PEX 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 40.78% return, which is significantly higher than PEX's -12.33% return.

ENGW.L

• 1D: -0.51%
• 1M: 16.26%
• YTD: 40.78%
• 6M: 44.83%
• 1Y: 39.74%
• 3Y*: 17.36%
• 5Y*: —
• 10Y*: —

PEX

• 1D: 2.37%
• 1M: -5.01%
• YTD: -12.33%
• 6M: -14.46%
• 1Y: -14.73%
• 3Y*: 2.12%
• 5Y*: 0.95%
• 10Y*: 5.15%

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

ENGW.L vs. PEX - Expense Ratio Comparison

ENGW.L has a 0.30% expense ratio, which is lower than PEX's 3.13% expense ratio.

PEX

ProShares Global Listed Private Equity ETF

ENGW.L

SPDR MSCI World Energy UCITS ETF

Return for Risk

ENGW.L vs. PEX — Risk / Return Rank

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

ENGW.L

ENGW.L Risk / Return Rank: 82
ENGW.L Sharpe Ratio Rank: 90
ENGW.L Sortino Ratio Rank: 88
ENGW.L Omega Ratio Rank: 89
ENGW.L Calmar Ratio Rank: 81
ENGW.L Martin Ratio Rank: 61

PEX

PEX Risk / Return Rank: 2
PEX Sharpe Ratio Rank: 2
PEX Sortino Ratio Rank: 2
PEX Omega Ratio Rank: 2
PEX Calmar Ratio Rank: 3
PEX Martin Ratio Rank: 2

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.

ENGW.L vs. PEX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for SPDR MSCI World Energy UCITS ETF (ENGW.L) and ProShares Global Listed Private Equity ETF (PEX). 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	PEX	Difference
Sharpe ratio Return per unit of total volatility	1.96	-0.82	+2.78
Sortino ratio Return per unit of downside risk	2.45	-1.11	+3.56
Omega ratio Gain probability vs. loss probability	1.36	0.86	+0.50
Calmar ratio Return relative to maximum drawdown	2.28	-0.67	+2.95
Martin ratio Return relative to average drawdown	5.91	-1.73	+7.64
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

ENGW.L vs. PEX - Sharpe Ratio Comparison

The current ENGW.L Sharpe Ratio is 1.96, which is higher than the PEX Sharpe Ratio of -0.82. The chart below compares the historical Sharpe Ratios of ENGW.L and PEX, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	ENGW.L	PEX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.96	-0.82	+2.78
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.06	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.29	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.75	0.32	+0.43

Correlation

The correlation between ENGW.L and PEX is 0.25, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.

Dividends

ENGW.L vs. PEX - Dividend Comparison

ENGW.L has not paid dividends to shareholders, while PEX's dividend yield for the trailing twelve months is around 13.04%.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
ENGW.L SPDR MSCI World 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%
PEX ProShares Global Listed Private Equity ETF	13.04%	12.80%	14.11%	13.02%	1.77%	13.64%	5.52%	7.94%	4.72%	24.26%	3.24%	12.50%

Drawdowns

ENGW.L vs. PEX - Drawdown Comparison

The maximum ENGW.L drawdown since its inception was -21.65%, smaller than the maximum PEX drawdown of -43.18%. Use the drawdown chart below to compare losses from any high point for ENGW.L and PEX.

Drawdown Indicators

	ENGW.L	PEX	Difference
Max Drawdown Largest peak-to-trough decline	-21.65%	-49.17%	+27.52%
Max Drawdown (1Y) Largest decline over 1 year	-17.60%	-24.72%	+7.12%
Max Drawdown (5Y) Largest decline over 5 years	—	-36.58%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-49.17%	—
Current Drawdown Current decline from peak	-0.51%	-22.24%	+21.73%
Average Drawdown Average peak-to-trough decline	-8.75%	-8.08%	-0.67%
Ulcer Index Depth and duration of drawdowns from previous peaks	6.76%	9.64%	-2.88%

Volatility

ENGW.L vs. PEX - Volatility Comparison

SPDR MSCI World Energy UCITS ETF (ENGW.L) and ProShares Global Listed Private Equity ETF (PEX) have volatilities of 6.06% and 6.22%, 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.

Volatility by Period

	ENGW.L	PEX	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.06%	6.22%	-0.16%
Volatility (6M) Calculated over the trailing 6-month period	12.72%	11.47%	+1.25%
Volatility (1Y) Calculated over the trailing 1-year period	20.22%	18.01%	+2.21%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	22.20%	15.66%	+6.54%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	22.20%	17.79%	+4.41%