GXLE.L vs. ENGE.L
GXLE.L (SPDR S&P US Energy Select Sector UCITS ETF) and ENGE.L (SPDR MSCI Europe Energy 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, GXLE.L returned 14.18%/yr vs 17.62%/yr for ENGE.L. A 0.76 correlation means they provide meaningful diversification when combined. GXLE.L charges 0.15%/yr vs 0.18%/yr for ENGE.L.
Performance
GXLE.L vs. ENGE.L - Performance Comparison
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Returns By Period
In the year-to-date period, GXLE.L achieves a 30.65% return, which is significantly lower than ENGE.L's 33.47% return.
GXLE.L
- 1D
- -0.48%
- 1M
- -0.13%
- YTD
- 30.65%
- 6M
- 28.41%
- 1Y
- 47.66%
- 3Y*
- 14.18%
- 5Y*
- —
- 10Y*
- —
ENGE.L
- 1D
- -0.79%
- 1M
- -2.22%
- YTD
- 33.47%
- 6M
- 29.58%
- 1Y
- 58.37%
- 3Y*
- 17.62%
- 5Y*
- —
- 10Y*
- —
GXLE.L vs. ENGE.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
GXLE.L SPDR S&P US Energy Select Sector UCITS ETF | 30.65% | 2.22% | 5.51% | -5.03% | 26.48% |
ENGE.L SPDR MSCI Europe Energy UCITS ETF | 33.47% | 20.13% | -9.19% | 5.91% | 21.28% |
Correlation
The correlation between GXLE.L and ENGE.L is 0.74, 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 | 0.74 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.72 |
Correlation (All Time) Calculated using the full available price history since Apr 5, 2022 | 0.76 |
The correlation between GXLE.L and ENGE.L has been stable across timeframes, ranging from 0.72 to 0.76 - a consistent structural relationship.
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Return for Risk
GXLE.L vs. ENGE.L — Risk / Return Rank
GXLE.L
ENGE.L
GXLE.L vs. ENGE.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for SPDR S&P US Energy Select Sector UCITS ETF (GXLE.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.
| GXLE.L | ENGE.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.60 | ||
| Sortino ratioReturn per unit of downside risk | -0.63 | ||
| Omega ratioGain probability vs. loss probability | 1.35 | 1.45 | -0.10 |
| Calmar ratioReturn relative to maximum drawdown | 2.85 | 4.93 | -2.08 |
| Martin ratioReturn relative to average drawdown | 9.07 | 14.51 | -5.44 |
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
| GXLE.L | ENGE.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.00 | 2.60 | -0.60 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.53 | 0.72 | -0.19 |
Drawdowns
GXLE.L vs. ENGE.L - Drawdown Comparison
The maximum GXLE.L drawdown since its inception was -23.60%, smaller than the maximum ENGE.L drawdown of -25.54%. Use the drawdown chart below to compare losses from any high point for GXLE.L and ENGE.L.
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Drawdown Indicators
| GXLE.L | ENGE.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -23.60% | -25.54% | +1.94% |
Max Drawdown (1Y)Largest decline over 1 year | -16.63% | -11.77% | -4.86% |
Max Drawdown (3Y)Largest decline over 3 years | -23.60% | -25.54% | +1.94% |
Current DrawdownCurrent decline from peak | -8.95% | -7.24% | -1.71% |
Average DrawdownAverage peak-to-trough decline | -10.77% | -8.15% | -2.62% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 5.24% | 4.01% | +1.23% |
Volatility
GXLE.L vs. ENGE.L - Volatility Comparison
SPDR S&P US Energy Select Sector UCITS ETF (GXLE.L) has a higher volatility of 9.27% compared to SPDR MSCI Europe Energy UCITS ETF (ENGE.L) at 8.22%. This indicates that GXLE.L's price experiences larger fluctuations and is considered to be riskier 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
| GXLE.L | ENGE.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 9.27% | 8.22% | +1.05% |
Volatility (6M)Calculated over the trailing 6-month period | 20.29% | 19.02% | +1.27% |
Volatility (1Y)Calculated over the trailing 1-year period | 23.82% | 22.37% | +1.45% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 25.52% | 22.66% | +2.86% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 25.52% | 22.66% | +2.86% |
GXLE.L vs. ENGE.L - Expense Ratio Comparison
GXLE.L has a 0.15% expense ratio, which is lower than ENGE.L's 0.18% 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
GXLE.L vs. ENGE.L - Dividend Comparison
Neither GXLE.L nor ENGE.L has paid dividends to shareholders.
Frequently Asked Questions
GXLE.L and ENGE.L have a correlation of 0.74, 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 ENGE.L.
Both ETFs track MSCI World/Energy NR USD. Their fees differ too: 0.15% for GXLE.L and 0.18% for ENGE.L.
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