ENGW.L vs. TIGB.L

Last updated Jun 4, 2026

ENGW.L (SPDR MSCI World Energy UCITS ETF) and TIGB.L (Invesco US Treasury Bond 0-1 Year UCITS ETF GBP Hedged Dist) are both exchange-traded funds - ENGW.L is a Energy Equities fund tracking the MSCI World/Energy NR USD, while TIGB.L is a Short-Term Bond fund tracking the Bloomberg US Treasury Coupons Index. Both are passively managed. Over the past 3 years, ENGW.L returned 16.05%/yr vs 4.45%/yr for TIGB.L. At a correlation of -0.12, they often move in opposite directions. ENGW.L charges 0.30%/yr vs 0.10%/yr for TIGB.L.

Performance

ENGW.L vs. TIGB.L - Performance Comparison

The chart below illustrates the hypothetical performance of a £10,000 investment in SPDR MSCI World Energy UCITS ETF (ENGW.L) and Invesco US Treasury Bond 0-1 Year UCITS ETF GBP Hedged Dist (TIGB.L). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

ENGW.L is traded in GBP, while TIGB.L is traded in GBp. To make them comparable, the TIGB.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 31.48% return, which is significantly higher than TIGB.L's 1.32% return.

ENGW.L

• 1D: 2.24%
• 1M: 0.93%
• YTD: 31.48%
• 6M: 29.41%
• 1Y: 47.44%
• 3Y*: 16.05%
• 5Y*: —
• 10Y*: —

TIGB.L

• 1D: 0.01%
• 1M: 0.25%
• YTD: 1.32%
• 6M: 1.67%
• 1Y: 3.76%
• 3Y*: 4.45%
• 5Y*: —
• 10Y*: —

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

ENGW.L vs. TIGB.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%
TIGB.L Invesco US Treasury Bond 0-1 Year UCITS ETF GBP Hedged Dist	1.32%	4.10%	4.94%	4.27%	0.09%

Correlation

The correlation between ENGW.L and TIGB.L is -0.15, 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	-0.15
Correlation (3Y) Calculated over the trailing 3-year period	-0.09
Correlation (All Time) Calculated using the full available price history since Apr 5, 2022	-0.12

Return for Risk

ENGW.L vs. TIGB.L — 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: 63
ENGW.L Sharpe Ratio Rank: 67
ENGW.L Sortino Ratio Rank: 56
ENGW.L Omega Ratio Rank: 66
ENGW.L Calmar Ratio Rank: 65
ENGW.L Martin Ratio Rank: 61

TIGB.L

TIGB.L Risk / Return Rank: 97
TIGB.L Sharpe Ratio Rank: 95
TIGB.L Sortino Ratio Rank: 97
TIGB.L Omega Ratio Rank: 98
TIGB.L Calmar Ratio Rank: 97
TIGB.L Martin Ratio Rank: 98

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. TIGB.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 US Treasury Bond 0-1 Year UCITS ETF GBP Hedged Dist (TIGB.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	TIGB.L	Difference
Sharpe ratio: Return per unit of total volatility	2.23	3.85	-1.62
Sortino ratio: Return per unit of downside risk	2.69	6.01	-3.32
Omega ratio: Gain probability vs. loss probability	1.40	2.33	-0.93
Calmar ratio: Return relative to maximum drawdown	3.24	12.43	-9.18
Martin ratio: Return relative to average drawdown	10.79	73.02	-62.23
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. TIGB.L - Sharpe Ratio Comparison

The current ENGW.L Sharpe Ratio is 2.23, which is lower than the TIGB.L Sharpe Ratio of 3.85. The chart below compares the historical Sharpe Ratios of ENGW.L and TIGB.L, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	ENGW.L	TIGB.L	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.23	3.85	-1.62
Sharpe Ratio (All Time) Calculated using the full available price history	0.61	5.45	-4.84

Drawdowns

ENGW.L vs. TIGB.L - Drawdown Comparison

The maximum ENGW.L drawdown since its inception was -21.65%, which is greater than TIGB.L's maximum drawdown of -0.50%. Use the drawdown chart below to compare losses from any high point for ENGW.L and TIGB.L.

Drawdown Indicators

	ENGW.L	TIGB.L	Difference
Max Drawdown Largest peak-to-trough decline	-21.65%	-0.50%	-21.15%
Max Drawdown (1Y) Largest decline over 1 year	-14.56%	-0.30%	-14.26%
Max Drawdown (3Y) Largest decline over 3 years	-21.40%	-0.30%	-21.10%
Current Drawdown Current decline from peak	-7.08%	-0.01%	-7.07%
Average Drawdown Average peak-to-trough decline	-8.76%	-0.03%	-8.73%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.38%	0.05%	+4.33%

Volatility

ENGW.L vs. TIGB.L - Volatility Comparison

SPDR MSCI World Energy UCITS ETF (ENGW.L) has a higher volatility of 8.13% compared to Invesco US Treasury Bond 0-1 Year UCITS ETF GBP Hedged Dist (TIGB.L) at 0.44%. This indicates that ENGW.L's price experiences larger fluctuations and is considered to be riskier than TIGB.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	ENGW.L	TIGB.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	8.13%	0.44%	+7.69%
Volatility (6M) Calculated over the trailing 6-month period	18.03%	0.70%	+17.33%
Volatility (1Y) Calculated over the trailing 1-year period	21.27%	0.97%	+20.30%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	22.80%	0.74%	+22.06%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	22.80%	0.74%	+22.06%

ENGW.L vs. TIGB.L - Expense Ratio Comparison

ENGW.L has a 0.30% expense ratio, which is higher than TIGB.L's 0.10% expense ratio.

Dividends

ENGW.L vs. TIGB.L - Dividend Comparison

ENGW.L has not paid dividends to shareholders, while TIGB.L's dividend yield for the trailing twelve months is around 3.92%.

Position	TTM	2025	2024	2023	2022
ENGW.L SPDR MSCI World Energy UCITS ETF	0.00%	0.00%	0.00%	0.00%	0.00%
TIGB.L Invesco US Treasury Bond 0-1 Year UCITS ETF GBP Hedged Dist	3.92%	4.11%	4.93%	4.53%	1.46%

Frequently Asked Questions

Can I hold both ENGW.L and TIGB.L in my portfolio?

ENGW.L and TIGB.L have a correlation of -0.15, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, ENGW.L or TIGB.L?

On fees, TIGB.L is cheaper at 0.10% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, ENGW.L or TIGB.L?

TIGB.L is cheaper with a 0.10% expense ratio, compared with 0.30% for ENGW.L.

What is the main difference between ENGW.L and TIGB.L?

ENGW.L is categorized as Energy Equities, while TIGB.L is Short-Term Bond. ENGW.L tracks MSCI World/Energy NR USD, while TIGB.L tracks Bloomberg US Treasury Coupons Index. They also come from different issuers: State Street and Invesco. Their fees differ too: 0.30% for ENGW.L and 0.10% for TIGB.L.