ENGW.L vs. USRD
ENGW.L (SPDR MSCI World Energy UCITS ETF) and USRD (Themes US R&D Champions ETF) are both exchange-traded funds - ENGW.L is a Energy Equities fund tracking the MSCI World/Energy NR USD, while USRD is a Large Cap Blend Equities fund tracking the Solactive US R&D Champions Index. Both are passively managed. Over the past year, ENGW.L returned 43.59% vs 22.69% for USRD. At a 0.07 correlation, their price movements are largely independent. ENGW.L charges 0.30%/yr vs 0.29%/yr for USRD.
Performance
ENGW.L vs. USRD - Performance Comparison
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Different Trading Currencies
ENGW.L is traded in GBP, while USRD is traded in USD. To make them comparable, the USRD 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 USRD's 12.92% 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%
USRD
- 1D
- 1.56%
- 1M
- 5.25%
- YTD
- 12.92%
- 6M
- 9.87%
- 1Y
- 22.69%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
ENGW.L vs. USRD - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
ENGW.L SPDR MSCI World Energy UCITS ETF | 30.02% | 7.20% | 3.55% | 2.77% |
USRD Themes US R&D Champions ETF | 12.92% | 4.43% | 17.54% | 4.37% |
Correlation
The correlation between ENGW.L and USRD is -0.05, 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 | -0.05 |
Correlation (All Time) Calculated using the full available price history since Dec 13, 2023 | 0.07 |
The correlation between ENGW.L and USRD shifts across timeframes, from -0.05 (1 year) to 0.07 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
ENGW.L vs. USRD — Risk / Return Rank
ENGW.L
USRD
ENGW.L vs. USRD - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for SPDR MSCI World Energy UCITS ETF (ENGW.L) and Themes US R&D Champions ETF (USRD). 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 | USRD | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.69 | ||
| Sortino ratioReturn per unit of downside risk | +0.63 | ||
| Omega ratioGain probability vs. loss probability | 1.37 | 1.25 | +0.12 |
| Calmar ratioReturn relative to maximum drawdown | 3.01 | 1.79 | +1.22 |
| Martin ratioReturn relative to average drawdown | 9.59 | 4.49 | +5.09 |
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Drawdowns
ENGW.L vs. USRD - Drawdown Comparison
The maximum ENGW.L drawdown since its inception was -69.49%, which is greater than USRD's maximum drawdown of -25.46%. Use the drawdown chart below to compare losses from any high point for ENGW.L and USRD.
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Drawdown Indicators
| ENGW.L | USRD | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -69.49% | -25.46% | -44.03% |
Max Drawdown (1Y)Largest decline over 1 year | -14.56% | -12.71% | -1.85% |
Max Drawdown (3Y)Largest decline over 3 years | -21.40% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -28.10% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -64.68% | — | — |
Current DrawdownCurrent decline from peak | -8.12% | -7.00% | -1.12% |
Average DrawdownAverage peak-to-trough decline | -20.76% | -4.82% | -15.94% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.56% | 5.06% | -0.50% |
Volatility
ENGW.L vs. USRD - Volatility Comparison
The current volatility for SPDR MSCI World Energy UCITS ETF (ENGW.L) is 6.62%, while Themes US R&D Champions ETF (USRD) has a volatility of 7.64%. This indicates that ENGW.L experiences smaller price fluctuations and is considered to be less risky than USRD 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 | USRD | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.62% | 7.64% | -1.02% |
Volatility (6M)Calculated over the trailing 6-month period | 18.24% | 13.24% | +5.00% |
Volatility (1Y)Calculated over the trailing 1-year period | 21.29% | 16.64% | +4.65% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 25.49% | 19.00% | +6.49% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 26.79% | 19.00% | +7.79% |
ENGW.L vs. USRD - Expense Ratio Comparison
ENGW.L has a 0.30% expense ratio, which is higher than USRD's 0.29% expense ratio.
Dividends
ENGW.L vs. USRD - Dividend Comparison
ENGW.L has not paid dividends to shareholders, while USRD's dividend yield for the trailing twelve months is around 0.38%.
| Position | TTM | 2025 | 2024 |
|---|---|---|---|
ENGW.L SPDR MSCI World Energy UCITS ETF | 0.00% | 0.00% | 0.00% |
USRD Themes US R&D Champions ETF | 0.38% | 0.42% | 2.44% |
Frequently Asked Questions
ENGW.L and USRD have a correlation of -0.05, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, USRD is cheaper at 0.29% per year. The better choice depends on whether you care most about return, fees, risk, or income.
USRD is cheaper with a 0.29% expense ratio, compared with 0.30% for ENGW.L.
ENGW.L is categorized as Energy Equities, while USRD is Large Cap Blend Equities. ENGW.L tracks MSCI World/Energy NR USD, while USRD tracks Solactive US R&D Champions Index. They also come from different issuers: State Street and Themes. Their fees differ too: 0.30% for ENGW.L and 0.29% for USRD.
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