GCED.L vs. ENGE.L
Compare and contrast key facts about Invesco Global Clean Energy UCITS ETF Dist (GCED.L) and SPDR MSCI Europe Energy UCITS ETF (ENGE.L).
GCED.L and ENGE.L are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. GCED.L is a passively managed fund by Invesco that tracks the performance of the WilderHill New Energy Global Innovation Index. It was launched on Mar 1, 2021. ENGE.L is a passively managed fund by State Street that tracks the performance of the MSCI World/Energy NR USD. It was launched on Dec 5, 2014. Both GCED.L and ENGE.L are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.
Performance
GCED.L vs. ENGE.L - Performance Comparison
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GCED.L vs. ENGE.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
GCED.L Invesco Global Clean Energy UCITS ETF Dist | 12.37% | 41.92% | -26.55% | -10.54% | -26.98% |
ENGE.L SPDR MSCI Europe Energy UCITS ETF | 35.89% | 29.19% | -10.70% | 11.50% | 11.78% |
Different Trading Currencies
GCED.L is traded in USD, while ENGE.L is traded in GBP. To make them comparable, the ENGE.L values have been converted to USD using the latest available exchange rates.
Returns By Period
In the year-to-date period, GCED.L achieves a 12.37% return, which is significantly lower than ENGE.L's 35.89% return.
GCED.L
- 1D
- 2.91%
- 1M
- -1.26%
- YTD
- 12.37%
- 6M
- 18.65%
- 1Y
- 75.00%
- 3Y*
- -0.92%
- 5Y*
- -9.58%
- 10Y*
- —
ENGE.L
- 1D
- -3.85%
- 1M
- 12.65%
- YTD
- 35.89%
- 6M
- 41.58%
- 1Y
- 50.50%
- 3Y*
- 20.80%
- 5Y*
- —
- 10Y*
- —
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GCED.L vs. ENGE.L - Expense Ratio Comparison
GCED.L has a 0.60% expense ratio, which is higher than ENGE.L's 0.18% expense ratio.
Return for Risk
GCED.L vs. ENGE.L — Risk / Return Rank
GCED.L
ENGE.L
GCED.L vs. ENGE.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco Global Clean Energy UCITS ETF Dist (GCED.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.
| GCED.L | ENGE.L | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 3.18 | 2.20 | +0.98 |
Sortino ratioReturn per unit of downside risk | 3.82 | 2.66 | +1.16 |
Omega ratioGain probability vs. loss probability | 1.50 | 1.39 | +0.11 |
Calmar ratioReturn relative to maximum drawdown | 6.51 | 3.21 | +3.30 |
Martin ratioReturn relative to average drawdown | 21.61 | 15.05 | +6.56 |
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
| GCED.L | ENGE.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 3.18 | 2.20 | +0.98 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.34 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.37 | 0.76 | -1.13 |
Correlation
The correlation between GCED.L and ENGE.L is 0.37, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.
Dividends
GCED.L vs. ENGE.L - Dividend Comparison
GCED.L's dividend yield for the trailing twelve months is around 1.85%, while ENGE.L has not paid dividends to shareholders.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
GCED.L Invesco Global Clean Energy UCITS ETF Dist | 1.85% | 2.09% | 1.43% | 0.68% | 0.09% | 0.20% |
ENGE.L SPDR MSCI Europe Energy UCITS ETF | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Drawdowns
GCED.L vs. ENGE.L - Drawdown Comparison
The maximum GCED.L drawdown since its inception was -72.10%, which is greater than ENGE.L's maximum drawdown of -24.19%. Use the drawdown chart below to compare losses from any high point for GCED.L and ENGE.L.
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Drawdown Indicators
| GCED.L | ENGE.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -72.10% | -25.54% | -46.56% |
Max Drawdown (1Y)Largest decline over 1 year | -13.48% | -18.21% | +4.73% |
Max Drawdown (5Y)Largest decline over 5 years | -69.99% | — | — |
Current DrawdownCurrent decline from peak | -43.81% | -4.48% | -39.33% |
Average DrawdownAverage peak-to-trough decline | -45.12% | -8.18% | -36.94% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.44% | 3.97% | -0.53% |
Volatility
GCED.L vs. ENGE.L - Volatility Comparison
The current volatility for Invesco Global Clean Energy UCITS ETF Dist (GCED.L) is 6.08%, while SPDR MSCI Europe Energy UCITS ETF (ENGE.L) has a volatility of 9.10%. This indicates that GCED.L experiences smaller price fluctuations and is considered to be less risky than ENGE.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| GCED.L | ENGE.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.08% | 9.10% | -3.02% |
Volatility (6M)Calculated over the trailing 6-month period | 16.47% | 15.31% | +1.16% |
Volatility (1Y)Calculated over the trailing 1-year period | 23.48% | 22.80% | +0.68% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 28.38% | 23.98% | +4.40% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 28.88% | 23.98% | +4.90% |