GXLE.L vs. IESU.L
GXLE.L (SPDR S&P US Energy Select Sector UCITS ETF) and IESU.L (iShares S&P 500 Energy Sector UCITS ETF USD (Acc)) are both Energy Equities funds - GXLE.L tracks the MSCI World/Energy NR USD while IESU.L tracks the S&P 500 Capped 35/20 Energy Index NTR. Both are passively managed. Over the past 10 years, GXLE.L returned 5.89%/yr vs 8.50%/yr for IESU.L. A 0.77 correlation means they provide meaningful diversification when combined. Both charge a 0.15% expense ratio.
Performance
GXLE.L vs. IESU.L - Performance Comparison
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Different Trading Currencies
GXLE.L is traded in GBP, while IESU.L is traded in GBp. To make them comparable, the IESU.L values have been converted to GBP using the latest available exchange rates.
Returns By Period
The year-to-date returns for both investments are quite close, with GXLE.L having a 27.26% return and IESU.L slightly higher at 28.61%. Over the past 10 years, GXLE.L has underperformed IESU.L with an annualized return of 5.89%, while IESU.L has yielded a comparatively higher 8.50% annualized return.
GXLE.L
- 1D
- 0.00%
- 1M
- 3.82%
- 6M
- 19.29%
- YTD
- 27.26%
- 1Y
- 34.81%
- 3Y*
- 13.20%
- 5Y*
- 15.33%
- 10Y*
- 5.89%
IESU.L
- 1D
- 1.07%
- 1M
- 4.80%
- 6M
- 20.56%
- YTD
- 28.61%
- 1Y
- 35.99%
- 3Y*
- 13.44%
- 5Y*
- 22.82%
- 10Y*
- 8.50%
GXLE.L vs. IESU.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
GXLE.L SPDR S&P US Energy Select Sector UCITS ETF | 27.26% | 2.22% | 5.51% | -5.03% | 34.51% | 52.53% | -32.89% | 11.49% | -18.52% | -1.49% |
IESU.L iShares S&P 500 Energy Sector UCITS ETF USD (Acc) | 28.61% | 2.26% | 5.45% | -5.96% | 83.53% | 53.82% | -35.62% | 5.37% | -13.39% | -10.01% |
Correlation
The correlation between GXLE.L and IESU.L is 0.99 - 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 | 0.99 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.97 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.94 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.79 |
Correlation (All Time) Calculated using the full available price history since Nov 20, 2015 | 0.77 |
Over the past year, GXLE.L and IESU.L have become more correlated (0.99) than their long-term average of 0.77, meaning their price movements have been converging.
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Return for Risk
GXLE.L vs. IESU.L — Risk / Return Rank
GXLE.L
IESU.L
GXLE.L vs. IESU.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 iShares S&P 500 Energy Sector UCITS ETF USD (Acc) (IESU.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.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| GXLE.L | IESU.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.03 | ||
| Sortino ratioReturn per unit of downside risk | -0.03 | ||
| Omega ratioGain probability vs. loss probability | 1.26 | 1.26 | 0.00 |
| Calmar ratioReturn relative to maximum drawdown | 2.07 | 2.07 | 0.00 |
| Martin ratioReturn relative to average drawdown | 4.95 | 5.01 | -0.06 |
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Drawdowns
GXLE.L vs. IESU.L - Drawdown Comparison
The maximum GXLE.L drawdown since its inception was -67.36%, which is greater than IESU.L's maximum drawdown of -63.88%. Use the drawdown chart below to compare losses from any high point for GXLE.L and IESU.L.
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Drawdown Indicators
| GXLE.L | IESU.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -67.36% | -63.88% | -3.48% |
Max Drawdown (1Y)Largest decline over 1 year | -16.93% | -17.34% | +0.41% |
Max Drawdown (3Y)Largest decline over 3 years | -23.60% | -26.36% | +2.76% |
Max Drawdown (5Y)Largest decline over 5 years | -28.25% | -26.36% | -1.89% |
Max Drawdown (10Y)Largest decline over 10 years | -67.36% | -62.16% | -5.20% |
Current DrawdownCurrent decline from peak | -11.31% | -10.65% | -0.66% |
Average DrawdownAverage peak-to-trough decline | -15.77% | -20.50% | +4.73% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 7.05% | 7.16% | -0.11% |
Volatility
GXLE.L vs. IESU.L - Volatility Comparison
SPDR S&P US Energy Select Sector UCITS ETF (GXLE.L) and iShares S&P 500 Energy Sector UCITS ETF USD (Acc) (IESU.L) have volatilities of 7.16% and 7.50%, 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
| GXLE.L | IESU.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.16% | 7.50% | -0.34% |
Volatility (6M)Calculated over the trailing 6-month period | 21.38% | 21.74% | -0.36% |
Volatility (1Y)Calculated over the trailing 1-year period | 24.46% | 24.54% | -0.08% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 28.25% | 29.08% | -0.83% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 30.78% | 29.16% | +1.62% |
GXLE.L vs. IESU.L - Expense Ratio Comparison
Both GXLE.L and IESU.L have an expense ratio of 0.15%, making them cost-effective options compared to the broader market, where average expense ratios typically range from 0.3% to 0.9%.
Dividends
GXLE.L vs. IESU.L - Dividend Comparison
Neither GXLE.L nor IESU.L has paid dividends to shareholders.
Frequently Asked Questions
With a correlation of 0.99, GXLE.L and IESU.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 0.15% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.
GXLE.L and IESU.L have the same expense ratio: 0.15% per year.
GXLE.L tracks MSCI World/Energy NR USD, while IESU.L tracks S&P 500 Capped 35/20 Energy Index NTR. They also come from different issuers: State Street and iShares.
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