ENGW.L vs. TIP
ENGW.L (SPDR MSCI World Energy UCITS ETF) and TIP (iShares TIPS Bond ETF) are both exchange-traded funds - ENGW.L is a Energy Equities fund tracking the MSCI World/Energy NR USD, while TIP is a Inflation-Protected Bonds fund tracking the ICE U.S. Treasury Inflation Linked Bond Index. Both are passively managed. Over the past 10 years, ENGW.L returned 6.24%/yr vs 3.10%/yr for TIP. At a correlation of -0.17, they often move in opposite directions. ENGW.L charges 0.30%/yr vs 0.18%/yr for TIP.
Performance
ENGW.L vs. TIP - Performance Comparison
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Different Trading Currencies
ENGW.L is traded in GBP, while TIP is traded in USD. To make them comparable, the TIP 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 TIP's 1.94% return. Over the past 10 years, ENGW.L has outperformed TIP with an annualized return of 6.24%, while TIP has yielded a comparatively lower 3.10% 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%
TIP
- 1D
- 0.15%
- 1M
- 0.80%
- YTD
- 1.94%
- 6M
- 1.14%
- 1Y
- 6.07%
- 3Y*
- 1.48%
- 5Y*
- 1.96%
- 10Y*
- 3.10%
ENGW.L vs. TIP - 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% |
TIP iShares TIPS Bond ETF | 1.94% | -0.84% | 3.43% | -1.38% | -1.83% | 6.68% | 7.58% | 4.23% | 4.42% | -5.98% |
Correlation
The correlation between ENGW.L and TIP is 0.16, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.16 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.16 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.03 |
Correlation (10Y) Calculated over the trailing 10-year period | -0.08 |
Correlation (All Time) Calculated using the full available price history since Jan 4, 2011 | -0.17 |
The correlation between ENGW.L and TIP shifts across timeframes, from -0.17 (all time) to 0.16 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
ENGW.L vs. TIP — Risk / Return Rank
ENGW.L
TIP
ENGW.L vs. TIP - 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 TIPS Bond ETF (TIP). 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 | TIP | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.10 | ||
| Sortino ratioReturn per unit of downside risk | +1.05 | ||
| Omega ratioGain probability vs. loss probability | 1.37 | 1.18 | +0.19 |
| Calmar ratioReturn relative to maximum drawdown | 3.01 | 1.03 | +1.98 |
| Martin ratioReturn relative to average drawdown | 9.59 | 2.72 | +6.86 |
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Drawdowns
ENGW.L vs. TIP - Drawdown Comparison
The maximum ENGW.L drawdown since its inception was -69.49%, which is greater than TIP's maximum drawdown of -16.91%. Use the drawdown chart below to compare losses from any high point for ENGW.L and TIP.
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Drawdown Indicators
| ENGW.L | TIP | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -69.49% | -16.91% | -52.58% |
Max Drawdown (1Y)Largest decline over 1 year | -14.56% | -5.92% | -8.64% |
Max Drawdown (3Y)Largest decline over 3 years | -21.40% | -8.07% | -13.33% |
Max Drawdown (5Y)Largest decline over 5 years | -28.10% | -15.85% | -12.25% |
Max Drawdown (10Y)Largest decline over 10 years | -64.68% | -15.85% | -48.83% |
Current DrawdownCurrent decline from peak | -8.12% | -8.00% | -0.12% |
Average DrawdownAverage peak-to-trough decline | -20.76% | -6.55% | -14.21% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.56% | 2.23% | +2.33% |
Volatility
ENGW.L vs. TIP - Volatility Comparison
SPDR MSCI World Energy UCITS ETF (ENGW.L) has a higher volatility of 6.62% compared to iShares TIPS Bond ETF (TIP) at 1.37%. This indicates that ENGW.L's price experiences larger fluctuations and is considered to be riskier than TIP 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 | TIP | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.62% | 1.37% | +5.25% |
Volatility (6M)Calculated over the trailing 6-month period | 18.24% | 4.83% | +13.41% |
Volatility (1Y)Calculated over the trailing 1-year period | 21.29% | 6.37% | +14.92% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 25.49% | 8.95% | +16.54% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 26.79% | 10.09% | +16.70% |
ENGW.L vs. TIP - Expense Ratio Comparison
ENGW.L has a 0.30% expense ratio, which is higher than TIP's 0.18% expense ratio.
Dividends
ENGW.L vs. TIP - Dividend Comparison
ENGW.L has not paid dividends to shareholders, while TIP's dividend yield for the trailing twelve months is around 3.76%.
| Position | 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% |
TIP iShares TIPS Bond ETF | 3.76% | 3.46% | 2.52% | 2.73% | 6.96% | 4.28% | 1.17% | 1.75% | 2.71% | 2.07% | 1.48% | 0.34% |
Frequently Asked Questions
ENGW.L and TIP have a correlation of 0.16, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, TIP is cheaper at 0.18% per year. The better choice depends on whether you care most about return, fees, risk, or income.
TIP is cheaper with a 0.18% expense ratio, compared with 0.30% for ENGW.L.
ENGW.L is categorized as Energy Equities, while TIP is Inflation-Protected Bonds. ENGW.L tracks MSCI World/Energy NR USD, while TIP tracks ICE U.S. Treasury Inflation Linked Bond Index. They also come from different issuers: State Street and iShares. Their fees differ too: 0.30% for ENGW.L and 0.18% for TIP.
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