ESIC.L vs. UTIL.L

Last updated Jun 5, 2026

ESIC.L (iShares MSCI Europe Consumer Discretionary Sector UCITS ETF EUR (Acc)) and UTIL.L (SPDR MSCI Europe Utilities UCITS ETF) are both exchange-traded funds - ESIC.L is a Consumer Discretionary Equities fund tracking the Cat 50%MSCI Wld/CD NR&50%MSCI Wld/CS NR, while UTIL.L is a Utilities Equities fund tracking the MSCI World/Utilities NR USD. Both are passively managed. Over the past 5 years, ESIC.L returned -1.55%/yr vs 11.99%/yr for UTIL.L. At a 0.34 correlation, their price movements are largely independent. Both charge a 0.18% expense ratio.

Performance

ESIC.L vs. UTIL.L - Performance Comparison

The chart below illustrates the hypothetical performance of a £10,000 investment in iShares MSCI Europe Consumer Discretionary Sector UCITS ETF EUR (Acc) (ESIC.L) and SPDR MSCI Europe Utilities UCITS ETF (UTIL.L). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

ESIC.L is traded in GBP, while UTIL.L is traded in EUR. To make them comparable, the UTIL.L values have been converted to GBP using the latest available exchange rates.

Returns By Period

In the year-to-date period, ESIC.L achieves a -11.67% return, which is significantly lower than UTIL.L's 12.15% return.

ESIC.L

• 1D: 0.48%
• 1M: 7.15%
• YTD: -11.67%
• 6M: -11.51%
• 1Y: -3.34%
• 3Y*: -2.82%
• 5Y*: -1.55%
• 10Y*: —

UTIL.L

• 1D: -0.09%
• 1M: -2.86%
• YTD: 12.15%
• 6M: 12.96%
• 1Y: 30.18%
• 3Y*: 16.76%
• 5Y*: 11.99%
• 10Y*: 11.76%

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

ESIC.L vs. UTIL.L - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
ESIC.L iShares MSCI Europe Consumer Discretionary Sector UCITS ETF EUR (Acc)	-11.67%	7.11%	-1.15%	12.93%	-11.01%	14.25%	5.78%
UTIL.L SPDR MSCI Europe Utilities UCITS ETF	12.15%	41.15%	-3.27%	10.84%	-1.95%	1.85%	3.17%

Correlation

The correlation between ESIC.L and UTIL.L is 0.14, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.14
Correlation (3Y) Calculated over the trailing 3-year period	0.22
Correlation (5Y) Calculated over the trailing 5-year period	0.33
Correlation (All Time) Calculated using the full available price history since Nov 24, 2020	0.34

The correlation between ESIC.L and UTIL.L shifts across timeframes, from 0.14 (1 year) to 0.34 (all time), reflecting how their relationship changes across market environments.

ESIC.L vs. UTIL.L - Sectors Allocation Comparison

Sectors	ESIC.L	UTIL.L
Consumer Cyclical	95.6%	-
Technology	2.9%	-
Communication Services	1.0%	-
Industrials	0.5%	4.6%
Basic Materials	-	-
Consumer Defensive	-	-
Energy	-	-
Financial Services	-	-
Healthcare	-	-
Real Estate	-	-
Utilities	-	95.4%

Return for Risk

ESIC.L vs. UTIL.L — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

ESIC.L

ESIC.L Risk / Return Rank: 7
ESIC.L Sharpe Ratio Rank: 7
ESIC.L Sortino Ratio Rank: 7
ESIC.L Omega Ratio Rank: 7
ESIC.L Calmar Ratio Rank: 8
ESIC.L Martin Ratio Rank: 7

UTIL.L

UTIL.L Risk / Return Rank: 57
UTIL.L Sharpe Ratio Rank: 53
UTIL.L Sortino Ratio Rank: 48
UTIL.L Omega Ratio Rank: 53
UTIL.L Calmar Ratio Rank: 74
UTIL.L Martin Ratio Rank: 58

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.

ESIC.L vs. UTIL.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares MSCI Europe Consumer Discretionary Sector UCITS ETF EUR (Acc) (ESIC.L) and SPDR MSCI Europe Utilities UCITS ETF (UTIL.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.

	ESIC.L	UTIL.L	Difference
Sharpe ratio: Return per unit of total volatility	-0.17	1.99	-2.17
Sortino ratio: Return per unit of downside risk	-0.12	2.59	-2.71
Omega ratio: Gain probability vs. loss probability	0.99	1.35	-0.36
Calmar ratio: Return relative to maximum drawdown	-0.15	3.50	-3.65
Martin ratio: Return relative to average drawdown	-0.35	10.34	-10.70
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

ESIC.L vs. UTIL.L - Sharpe Ratio Comparison

The current ESIC.L Sharpe Ratio is -0.17, which is lower than the UTIL.L Sharpe Ratio of 1.99. The chart below compares the historical Sharpe Ratios of ESIC.L and UTIL.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

	ESIC.L	UTIL.L	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.17	1.99	-2.17
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.07	0.73	-0.81
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.66	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.11	0.55	-0.44

Drawdowns

ESIC.L vs. UTIL.L - Drawdown Comparison

The maximum ESIC.L drawdown since its inception was -28.93%, roughly equal to the maximum UTIL.L drawdown of -28.73%. Use the drawdown chart below to compare losses from any high point for ESIC.L and UTIL.L.

Drawdown Indicators

	ESIC.L	UTIL.L	Difference
Max Drawdown Largest peak-to-trough decline	-28.93%	-28.73%	-0.20%
Max Drawdown (1Y) Largest decline over 1 year	-21.82%	-8.58%	-13.24%
Max Drawdown (3Y) Largest decline over 3 years	-23.39%	-12.60%	-10.79%
Max Drawdown (5Y) Largest decline over 5 years	-28.93%	-19.90%	-9.03%
Max Drawdown (10Y) Largest decline over 10 years	—	-28.73%	—
Current Drawdown Current decline from peak	-15.64%	-5.73%	-9.91%
Average Drawdown Average peak-to-trough decline	-9.39%	-5.71%	-3.68%
Ulcer Index Depth and duration of drawdowns from previous peaks	9.50%	2.91%	+6.59%

Volatility

ESIC.L vs. UTIL.L - Volatility Comparison

iShares MSCI Europe Consumer Discretionary Sector UCITS ETF EUR (Acc) (ESIC.L) has a higher volatility of 6.36% compared to SPDR MSCI Europe Utilities UCITS ETF (UTIL.L) at 5.55%. This indicates that ESIC.L's price experiences larger fluctuations and is considered to be riskier than UTIL.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	ESIC.L	UTIL.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.36%	5.55%	+0.81%
Volatility (6M) Calculated over the trailing 6-month period	15.17%	12.97%	+2.20%
Volatility (1Y) Calculated over the trailing 1-year period	19.03%	15.09%	+3.94%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	20.84%	16.35%	+4.49%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.37%	17.82%	+2.55%

ESIC.L vs. UTIL.L - Expense Ratio Comparison

Both ESIC.L and UTIL.L have an expense ratio of 0.18%, making them cost-effective options compared to the broader market, where average expense ratios typically range from 0.3% to 0.9%.

Dividends

ESIC.L vs. UTIL.L - Dividend Comparison

Neither ESIC.L nor UTIL.L has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both ESIC.L and UTIL.L in my portfolio?

ESIC.L and UTIL.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, ESIC.L or UTIL.L?

Both ETFs have the same 0.18% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, ESIC.L or UTIL.L?

ESIC.L and UTIL.L have the same expense ratio: 0.18% per year.

What is the main difference between ESIC.L and UTIL.L?

ESIC.L is categorized as Consumer Discretionary Equities, while UTIL.L is Utilities Equities. ESIC.L tracks Cat 50%MSCI Wld/CD NR&50%MSCI Wld/CS NR, while UTIL.L tracks MSCI World/Utilities NR USD. They also come from different issuers: iShares and State Street.