ESIE.L vs. XAAG.DE
ESIE.L (iShares MSCI Europe Energy Sector UCITS ETF EUR (Acc)) and XAAG.DE (Invesco Bloomberg Commodity ex-Agriculture UCITS ETF Acc) are both exchange-traded funds - ESIE.L is a Energy Equities fund tracking the MSCI World/Energy NR USD, while XAAG.DE is a Commodities fund tracking the Bloomberg Commodity ex-Agriculture and Livestock. Both are passively managed. Over the past 5 years, ESIE.L returned 19.85%/yr vs 15.11%/yr for XAAG.DE. At a 0.47 correlation, their price movements are largely independent. ESIE.L charges 0.18%/yr vs 0.19%/yr for XAAG.DE.
Performance
ESIE.L vs. XAAG.DE - Performance Comparison
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Different Trading Currencies
ESIE.L is traded in GBP, while XAAG.DE is traded in EUR. To make them comparable, the XAAG.DE values have been converted to GBP using the latest available exchange rates.
Returns By Period
In the year-to-date period, ESIE.L achieves a 34.22% return, which is significantly higher than XAAG.DE's 26.68% return.
ESIE.L
- 1D
- -1.00%
- 1M
- -2.31%
- YTD
- 34.22%
- 6M
- 30.17%
- 1Y
- 59.36%
- 3Y*
- 17.82%
- 5Y*
- 19.85%
- 10Y*
- —
XAAG.DE
- 1D
- -0.43%
- 1M
- 0.66%
- YTD
- 26.68%
- 6M
- 29.32%
- 1Y
- 51.35%
- 3Y*
- 17.88%
- 5Y*
- 15.11%
- 10Y*
- —
ESIE.L vs. XAAG.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
ESIE.L iShares MSCI Europe Energy Sector UCITS ETF EUR (Acc) | 34.22% | 20.13% | -9.70% | 6.04% | 44.68% | 26.96% | 1.47% |
XAAG.DE Invesco Bloomberg Commodity ex-Agriculture UCITS ETF Acc | 26.68% | 17.96% | 9.84% | -16.46% | 30.10% | 29.90% | 1.29% |
Correlation
The correlation between ESIE.L and XAAG.DE is 0.50, 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 | 0.50 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.50 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.48 |
Correlation (All Time) Calculated using the full available price history since Nov 24, 2020 | 0.47 |
The correlation between ESIE.L and XAAG.DE has been stable across timeframes, ranging from 0.47 to 0.50 - a consistent structural relationship.
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Return for Risk
ESIE.L vs. XAAG.DE — Risk / Return Rank
ESIE.L
XAAG.DE
ESIE.L vs. XAAG.DE - 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 Invesco Bloomberg Commodity ex-Agriculture UCITS ETF Acc (XAAG.DE). 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 | XAAG.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.24 | ||
| Sortino ratioReturn per unit of downside risk | +0.29 | ||
| Omega ratioGain probability vs. loss probability | 1.45 | 1.42 | +0.02 |
| Calmar ratioReturn relative to maximum drawdown | 4.87 | 4.85 | +0.02 |
| Martin ratioReturn relative to average drawdown | 14.82 | 11.82 | +3.00 |
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 | XAAG.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.58 | 2.35 | +0.24 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.82 | 0.75 | +0.07 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.86 | 0.49 | +0.37 |
Drawdowns
ESIE.L vs. XAAG.DE - Drawdown Comparison
The maximum ESIE.L drawdown since its inception was -27.35%, smaller than the maximum XAAG.DE drawdown of -33.50%. Use the drawdown chart below to compare losses from any high point for ESIE.L and XAAG.DE.
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Drawdown Indicators
| ESIE.L | XAAG.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -27.35% | -33.50% | +6.15% |
Max Drawdown (1Y)Largest decline over 1 year | -12.13% | -10.53% | -1.60% |
Max Drawdown (3Y)Largest decline over 3 years | -27.35% | -16.22% | -11.13% |
Max Drawdown (5Y)Largest decline over 5 years | -27.35% | -33.50% | +6.15% |
Current DrawdownCurrent decline from peak | -6.99% | -2.63% | -4.36% |
Average DrawdownAverage peak-to-trough decline | -8.23% | -13.87% | +5.64% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.99% | 4.33% | -0.34% |
Volatility
ESIE.L vs. XAAG.DE - Volatility Comparison
iShares MSCI Europe Energy Sector UCITS ETF EUR (Acc) (ESIE.L) has a higher volatility of 8.04% compared to Invesco Bloomberg Commodity ex-Agriculture UCITS ETF Acc (XAAG.DE) at 4.73%. This indicates that ESIE.L's price experiences larger fluctuations and is considered to be riskier than XAAG.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| ESIE.L | XAAG.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 8.04% | 4.73% | +3.31% |
Volatility (6M)Calculated over the trailing 6-month period | 19.18% | 18.74% | +0.44% |
Volatility (1Y)Calculated over the trailing 1-year period | 22.92% | 21.78% | +1.14% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 24.32% | 19.93% | +4.39% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 24.58% | 18.22% | +6.36% |
ESIE.L vs. XAAG.DE - Expense Ratio Comparison
ESIE.L has a 0.18% expense ratio, which is lower than XAAG.DE's 0.19% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
ESIE.L vs. XAAG.DE - Dividend Comparison
Neither ESIE.L nor XAAG.DE has paid dividends to shareholders.
Frequently Asked Questions
ESIE.L and XAAG.DE have a correlation of 0.50, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, ESIE.L is cheaper at 0.18% per year. The better choice depends on whether you care most about return, fees, risk, or income.
ESIE.L is cheaper with a 0.18% expense ratio, compared with 0.19% for XAAG.DE.
ESIE.L is categorized as Energy Equities, while XAAG.DE is Commodities. ESIE.L tracks MSCI World/Energy NR USD, while XAAG.DE tracks Bloomberg Commodity ex-Agriculture and Livestock. They also come from different issuers: iShares and Invesco. Their fees differ too: 0.18% for ESIE.L and 0.19% for XAAG.DE.
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