ENGW.L vs. VEUR.L

Last updated Jun 25, 2026

ENGW.L (State Street SPDR MSCI World Energy UCITS ETF) and VEUR.L (Vanguard FTSE Developed Europe UCITS ETF Distributing) are both exchange-traded funds - ENGW.L is a Energy Equities fund tracking the MSCI World Energy 35/20 Capped Index, while VEUR.L is a Europe Equities fund tracking the MSCI Europe NR EUR. Both are passively managed. Over the past 10 years, ENGW.L returned 5.73%/yr vs 10.74%/yr for VEUR.L. At a 0.37 correlation, their price movements are largely independent. ENGW.L charges 0.30%/yr vs 0.10%/yr for VEUR.L.

Performance

ENGW.L vs. VEUR.L - Performance Comparison

The chart below illustrates the hypothetical performance of a £10,000 investment in State Street SPDR MSCI World Energy UCITS ETF (ENGW.L) and Vanguard FTSE Developed Europe UCITS ETF Distributing (VEUR.L). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, ENGW.L achieves a 23.08% return, which is significantly higher than VEUR.L's 8.31% return. Over the past 10 years, ENGW.L has underperformed VEUR.L with an annualized return of 5.73%, while VEUR.L has yielded a comparatively higher 10.74% annualized return.

ENGW.L

• 1D: 0.00%
• 1M: -6.61%
• YTD: 23.08%
• 6M: 25.45%
• 1Y: 35.39%
• 3Y*: 14.86%
• 5Y*: 10.70%
• 10Y*: 5.73%

VEUR.L

• 1D: 0.09%
• 1M: 2.00%
• YTD: 8.31%
• 6M: 8.72%
• 1Y: 22.01%
• 3Y*: 15.60%
• 5Y*: 10.13%
• 10Y*: 10.74%

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

ENGW.L vs. VEUR.L - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
ENGW.L State Street SPDR MSCI World Energy UCITS ETF	23.08%	7.20%	3.55%	-2.06%	20.76%	40.49%	-31.10%	11.37%	-15.80%	5.24%
VEUR.L Vanguard FTSE Developed Europe UCITS ETF Distributing	8.31%	26.03%	4.43%	13.50%	-4.33%	16.97%	2.78%	19.66%	-9.52%	15.34%

Correlation

The correlation between ENGW.L and VEUR.L is -0.14, 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	-0.14
Correlation (3Y) Calculated over the trailing 3-year period	0.13
Correlation (5Y) Calculated over the trailing 5-year period	0.22
Correlation (10Y) Calculated over the trailing 10-year period	0.33
Correlation (All Time) Calculated using the full available price history since May 21, 2013	0.37

The correlation between ENGW.L and VEUR.L shifts across timeframes, from -0.14 (1 year) to 0.37 (all time), reflecting how their relationship changes across market environments.

Return for Risk

ENGW.L vs. VEUR.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: 52
ENGW.L Sharpe Ratio Rank: 56
ENGW.L Sortino Ratio Rank: 47
ENGW.L Omega Ratio Rank: 55
ENGW.L Calmar Ratio Rank: 54
ENGW.L Martin Ratio Rank: 46

VEUR.L

VEUR.L Risk / Return Rank: 57
VEUR.L Sharpe Ratio Rank: 62
VEUR.L Sortino Ratio Rank: 63
VEUR.L Omega Ratio Rank: 66
VEUR.L Calmar Ratio Rank: 46
VEUR.L Martin Ratio Rank: 49

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. VEUR.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for State Street SPDR MSCI World Energy UCITS ETF (ENGW.L) and Vanguard FTSE Developed Europe UCITS ETF Distributing (VEUR.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.

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	VEUR.L	Difference
Sharpe ratio: Return per unit of total volatility	1.66	1.82	-0.16
Sortino ratio: Return per unit of downside risk	2.10	2.58	-0.48
Omega ratio: Gain probability vs. loss probability	1.30	1.35	-0.04
Calmar ratio: Return relative to maximum drawdown	2.37	2.07	+0.30
Martin ratio: Return relative to average drawdown	6.96	7.40	-0.43

ENGW.L vs. VEUR.L - Sharpe Ratio Comparison

The current ENGW.L Sharpe Ratio is 1.66, which is comparable to the VEUR.L Sharpe Ratio of 1.82. The chart below compares the historical Sharpe Ratios of ENGW.L and VEUR.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.

Drawdowns

ENGW.L vs. VEUR.L - Drawdown Comparison

The maximum ENGW.L drawdown since its inception was -69.49%, which is greater than VEUR.L's maximum drawdown of -28.58%. Use the drawdown chart below to compare losses from any high point for ENGW.L and VEUR.L.

Drawdown Indicators

	ENGW.L	VEUR.L	Difference
Max Drawdown Largest peak-to-trough decline	-69.49%	-28.58%	-40.91%
Max Drawdown (1Y) Largest decline over 1 year	-15.03%	-10.60%	-4.43%
Max Drawdown (3Y) Largest decline over 3 years	-21.40%	-12.70%	-8.70%
Max Drawdown (5Y) Largest decline over 5 years	-28.10%	-16.38%	-11.72%
Max Drawdown (10Y) Largest decline over 10 years	-64.68%	-28.58%	-36.10%
Current Drawdown Current decline from peak	-13.02%	-0.87%	-12.15%
Average Drawdown Average peak-to-trough decline	-20.74%	-4.13%	-16.61%
Ulcer Index Depth and duration of drawdowns from previous peaks	5.10%	2.97%	+2.13%

Volatility

ENGW.L vs. VEUR.L - Volatility Comparison

State Street SPDR MSCI World Energy UCITS ETF (ENGW.L) has a higher volatility of 7.41% compared to Vanguard FTSE Developed Europe UCITS ETF Distributing (VEUR.L) at 2.87%. This indicates that ENGW.L's price experiences larger fluctuations and is considered to be riskier than VEUR.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	ENGW.L	VEUR.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.41%	2.87%	+4.54%
Volatility (6M) Calculated over the trailing 6-month period	18.72%	10.20%	+8.52%
Volatility (1Y) Calculated over the trailing 1-year period	21.73%	12.05%	+9.68%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	25.48%	13.77%	+11.71%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	26.78%	14.90%	+11.88%

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

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

Dividends

ENGW.L vs. VEUR.L - Dividend Comparison

ENGW.L has not paid dividends to shareholders, while VEUR.L's dividend yield for the trailing twelve months is around 2.65%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
ENGW.L State Street 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%
VEUR.L Vanguard FTSE Developed Europe UCITS ETF Distributing	2.65%	2.75%	3.10%	2.96%	3.19%	2.71%	2.26%	3.37%	3.56%	3.01%	3.01%	3.06%

Frequently Asked Questions

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

ENGW.L and VEUR.L have a correlation of -0.14, 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 VEUR.L?

On fees, VEUR.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 VEUR.L?

VEUR.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 VEUR.L?

ENGW.L is categorized as Energy Equities, while VEUR.L is Europe Equities. ENGW.L tracks MSCI World Energy 35/20 Capped Index, while VEUR.L tracks MSCI Europe NR EUR. They also come from different issuers: State Street and Vanguard. Their fees differ too: 0.30% for ENGW.L and 0.10% for VEUR.L.