ENGY.L vs. GXLE.L
ENGY.L (SPDR® MSCI Europe Energy UCITS ETF) and GXLE.L (SPDR S&P US Energy Select Sector UCITS ETF) are both Energy Equities funds from State Street tracking the MSCI World/Energy NR USD. Both are passively managed. Over the past 3 years, ENGY.L returned 17.81%/yr vs 14.39%/yr for GXLE.L. A 0.72 correlation means they provide meaningful diversification when combined. ENGY.L charges 0.18%/yr vs 0.15%/yr for GXLE.L.
Performance
ENGY.L vs. GXLE.L - Performance Comparison
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Different Trading Currencies
ENGY.L is traded in EUR, while GXLE.L is traded in GBP. To make them comparable, the GXLE.L values have been converted to EUR using the latest available exchange rates.
Returns By Period
In the year-to-date period, ENGY.L achieves a 36.00% return, which is significantly higher than GXLE.L's 32.54% return.
ENGY.L
- 1D
- 1.97%
- 1M
- -0.86%
- YTD
- 36.00%
- 6M
- 32.37%
- 1Y
- 53.57%
- 3Y*
- 17.81%
- 5Y*
- 20.20%
- 10Y*
- 11.49%
GXLE.L
- 1D
- 2.69%
- 1M
- 1.49%
- YTD
- 32.54%
- 6M
- 30.98%
- 1Y
- 42.06%
- 3Y*
- 14.39%
- 5Y*
- —
- 10Y*
- —
ENGY.L vs. GXLE.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
ENGY.L SPDR® MSCI Europe Energy UCITS ETF | 36.00% | 14.96% | -5.53% | 7.23% | 15.47% |
GXLE.L SPDR S&P US Energy Select Sector UCITS ETF | 32.54% | -3.11% | 10.60% | -3.02% | 19.50% |
Correlation
The correlation between ENGY.L and GXLE.L is 0.75, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.75 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.68 |
Correlation (All Time) Calculated using the full available price history since Apr 5, 2022 | 0.72 |
The correlation between ENGY.L and GXLE.L has been stable across timeframes, ranging from 0.68 to 0.75 - a consistent structural relationship.
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Return for Risk
ENGY.L vs. GXLE.L — Risk / Return Rank
ENGY.L
GXLE.L
ENGY.L vs. GXLE.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for SPDR® MSCI Europe Energy UCITS ETF (ENGY.L) and SPDR S&P US Energy Select Sector UCITS ETF (GXLE.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.
| ENGY.L | GXLE.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.63 | ||
| Sortino ratioReturn per unit of downside risk | +0.66 | ||
| Omega ratioGain probability vs. loss probability | 1.41 | 1.31 | +0.10 |
| Calmar ratioReturn relative to maximum drawdown | 4.55 | 2.50 | +2.05 |
| Martin ratioReturn relative to average drawdown | 14.59 | 8.14 | +6.44 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| ENGY.L | GXLE.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.38 | 1.75 | +0.63 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.88 | — | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.53 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.42 | 0.49 | -0.07 |
Drawdowns
ENGY.L vs. GXLE.L - Drawdown Comparison
The maximum ENGY.L drawdown since its inception was -58.56%, which is greater than GXLE.L's maximum drawdown of -26.82%. Use the drawdown chart below to compare losses from any high point for ENGY.L and GXLE.L.
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Drawdown Indicators
| ENGY.L | GXLE.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -58.56% | -26.82% | -31.74% |
Max Drawdown (1Y)Largest decline over 1 year | -11.73% | -16.78% | +5.05% |
Max Drawdown (3Y)Largest decline over 3 years | -26.50% | -26.82% | +0.32% |
Max Drawdown (5Y)Largest decline over 5 years | -26.50% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -58.56% | — | — |
Current DrawdownCurrent decline from peak | -5.46% | -8.03% | +2.57% |
Average DrawdownAverage peak-to-trough decline | -13.00% | -11.19% | -1.81% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.66% | 5.15% | -1.49% |
Volatility
ENGY.L vs. GXLE.L - Volatility Comparison
The current volatility for SPDR® MSCI Europe Energy UCITS ETF (ENGY.L) is 8.12%, while SPDR S&P US Energy Select Sector UCITS ETF (GXLE.L) has a volatility of 9.33%. This indicates that ENGY.L experiences smaller price fluctuations and is considered to be less risky than GXLE.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| ENGY.L | GXLE.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 8.12% | 9.33% | -1.21% |
Volatility (6M)Calculated over the trailing 6-month period | 19.19% | 20.42% | -1.23% |
Volatility (1Y)Calculated over the trailing 1-year period | 22.41% | 24.07% | -1.66% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 24.63% | 25.97% | -1.34% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 30.02% | 25.97% | +4.05% |
ENGY.L vs. GXLE.L - Expense Ratio Comparison
ENGY.L has a 0.18% expense ratio, which is higher than GXLE.L's 0.15% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
ENGY.L vs. GXLE.L - Dividend Comparison
Neither ENGY.L nor GXLE.L has paid dividends to shareholders.
Frequently Asked Questions
ENGY.L and GXLE.L have a correlation of 0.75, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, GXLE.L is cheaper at 0.15% per year. The better choice depends on whether you care most about return, fees, risk, or income.
GXLE.L is cheaper with a 0.15% expense ratio, compared with 0.18% for ENGY.L.
Both ETFs track MSCI World/Energy NR USD. Their fees differ too: 0.18% for ENGY.L and 0.15% for GXLE.L.
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