ESIE.L vs. ENGE.L
ESIE.L (iShares MSCI Europe Energy Sector UCITS ETF EUR (Acc)) and ENGE.L (SPDR MSCI Europe Energy UCITS ETF) are both Energy Equities funds tracking the MSCI World/Energy NR USD, from iShares and State Street respectively. Both are passively managed. Over the past 3 years, ESIE.L returned 18.27%/yr vs 17.99%/yr for ENGE.L. With a 0.97 correlation, they move nearly in lockstep. Both charge a 0.18% expense ratio.
Performance
ESIE.L vs. ENGE.L - Performance Comparison
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Returns By Period
The year-to-date returns for both stocks are quite close, with ESIE.L having a 35.58% return and ENGE.L slightly lower at 34.53%.
ESIE.L
- 1D
- 2.01%
- 1M
- -0.45%
- YTD
- 35.58%
- 6M
- 31.87%
- 1Y
- 58.97%
- 3Y*
- 18.27%
- 5Y*
- 20.09%
- 10Y*
- —
ENGE.L
- 1D
- 1.97%
- 1M
- -0.80%
- YTD
- 34.53%
- 6M
- 30.86%
- 1Y
- 57.73%
- 3Y*
- 17.99%
- 5Y*
- —
- 10Y*
- —
ESIE.L vs. ENGE.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
ESIE.L iShares MSCI Europe Energy Sector UCITS ETF EUR (Acc) | 35.58% | 20.13% | -9.70% | 6.04% | 20.44% |
ENGE.L SPDR MSCI Europe Energy UCITS ETF | 34.53% | 20.13% | -9.19% | 5.91% | 21.28% |
Correlation
The correlation between ESIE.L and ENGE.L is 0.97 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.97 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.97 |
Correlation (All Time) Calculated using the full available price history since Apr 5, 2022 | 0.97 |
The correlation between ESIE.L and ENGE.L has been stable across timeframes, ranging from 0.97 to 0.97 - a consistent structural relationship.
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Return for Risk
ESIE.L vs. ENGE.L — Risk / Return Rank
ESIE.L
ENGE.L
ESIE.L vs. ENGE.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares MSCI Europe Energy Sector UCITS ETF EUR (Acc) (ESIE.L) and SPDR MSCI Europe Energy UCITS ETF (ENGE.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.
| ESIE.L | ENGE.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.01 | ||
| Sortino ratioReturn per unit of downside risk | +0.01 | ||
| Omega ratioGain probability vs. loss probability | 1.45 | 1.45 | 0.00 |
| Calmar ratioReturn relative to maximum drawdown | 4.84 | 4.88 | -0.04 |
| Martin ratioReturn relative to average drawdown | 14.81 | 14.45 | +0.36 |
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
| ESIE.L | ENGE.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.56 | 2.57 | -0.01 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.83 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.87 | 0.73 | +0.14 |
Drawdowns
ESIE.L vs. ENGE.L - Drawdown Comparison
The maximum ESIE.L drawdown since its inception was -27.35%, which is greater than ENGE.L's maximum drawdown of -25.54%. Use the drawdown chart below to compare losses from any high point for ESIE.L and ENGE.L.
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Drawdown Indicators
| ESIE.L | ENGE.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -27.35% | -25.54% | -1.81% |
Max Drawdown (1Y)Largest decline over 1 year | -12.13% | -11.77% | -0.36% |
Max Drawdown (3Y)Largest decline over 3 years | -27.35% | -25.54% | -1.81% |
Max Drawdown (5Y)Largest decline over 5 years | -27.35% | — | — |
Current DrawdownCurrent decline from peak | -6.04% | -6.50% | +0.46% |
Average DrawdownAverage peak-to-trough decline | -8.24% | -8.15% | -0.09% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.97% | 3.98% | -0.01% |
Volatility
ESIE.L vs. ENGE.L - Volatility Comparison
iShares MSCI Europe Energy Sector UCITS ETF EUR (Acc) (ESIE.L) and SPDR MSCI Europe Energy UCITS ETF (ENGE.L) have volatilities of 8.04% and 8.22%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| ESIE.L | ENGE.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 8.04% | 8.22% | -0.18% |
Volatility (6M)Calculated over the trailing 6-month period | 19.14% | 19.00% | +0.14% |
Volatility (1Y)Calculated over the trailing 1-year period | 22.89% | 22.35% | +0.54% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 24.32% | 22.66% | +1.66% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 24.59% | 22.66% | +1.93% |
ESIE.L vs. ENGE.L - Expense Ratio Comparison
Both ESIE.L and ENGE.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
ESIE.L vs. ENGE.L - Dividend Comparison
Neither ESIE.L nor ENGE.L has paid dividends to shareholders.
Frequently Asked Questions
With a correlation of 0.97, ESIE.L and ENGE.L move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.
Both ETFs have the same 0.18% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.
ESIE.L and ENGE.L have the same expense ratio: 0.18% per year.
Both ETFs track MSCI World/Energy NR USD. They also come from different issuers: iShares and State Street.
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