GXLE.L vs. INRG.L
GXLE.L (SPDR S&P US Energy Select Sector UCITS ETF) and INRG.L (iShares Global Clean Energy UCITS ETF USD (Dist)) are both Energy Equities funds - GXLE.L tracks the MSCI World/Energy NR USD while INRG.L tracks the S&P Global Clean Energy TR USD. Both are passively managed. Over the past 3 years, GXLE.L returned 14.18%/yr vs 5.64%/yr for INRG.L. At a 0.15 correlation, their price movements are largely independent. GXLE.L charges 0.15%/yr vs 0.65%/yr for INRG.L.
Performance
GXLE.L vs. INRG.L - Performance Comparison
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Different Trading Currencies
GXLE.L is traded in GBP, while INRG.L is traded in GBp. To make them comparable, the INRG.L values have been converted to GBP using the latest available exchange rates.
Returns By Period
In the year-to-date period, GXLE.L achieves a 30.65% return, which is significantly lower than INRG.L's 39.09% return.
GXLE.L
- 1D
- -0.48%
- 1M
- -0.13%
- YTD
- 30.65%
- 6M
- 28.41%
- 1Y
- 47.66%
- 3Y*
- 14.18%
- 5Y*
- —
- 10Y*
- —
INRG.L
- 1D
- -2.01%
- 1M
- 8.39%
- YTD
- 39.09%
- 6M
- 35.51%
- 1Y
- 82.63%
- 3Y*
- 5.64%
- 5Y*
- 2.72%
- 10Y*
- 12.64%
GXLE.L vs. INRG.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% |
INRG.L iShares Global Clean Energy UCITS ETF USD (Dist) | 39.09% | 34.75% | -24.39% | -23.83% | -1.64% |
Correlation
The correlation between GXLE.L and INRG.L is -0.12, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.12 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.09 |
Correlation (All Time) Calculated using the full available price history since Apr 5, 2022 | 0.15 |
The correlation between GXLE.L and INRG.L shifts across timeframes, from -0.12 (1 year) to 0.15 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
GXLE.L vs. INRG.L — Risk / Return Rank
GXLE.L
INRG.L
GXLE.L vs. INRG.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 Global Clean Energy UCITS ETF USD (Dist) (INRG.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 | INRG.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.42 | ||
| Sortino ratioReturn per unit of downside risk | -1.93 | ||
| Omega ratioGain probability vs. loss probability | 1.35 | 1.53 | -0.18 |
| Calmar ratioReturn relative to maximum drawdown | 2.85 | 6.64 | -3.79 |
| Martin ratioReturn relative to average drawdown | 9.07 | 19.87 | -10.79 |
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 | INRG.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.00 | 3.42 | -1.42 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | 0.11 | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.50 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.53 | 0.02 | +0.51 |
Drawdowns
GXLE.L vs. INRG.L - Drawdown Comparison
The maximum GXLE.L drawdown since its inception was -23.60%, smaller than the maximum INRG.L drawdown of -85.09%. Use the drawdown chart below to compare losses from any high point for GXLE.L and INRG.L.
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Drawdown Indicators
| GXLE.L | INRG.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -23.60% | -85.09% | +61.49% |
Max Drawdown (1Y)Largest decline over 1 year | -16.63% | -12.38% | -4.25% |
Max Drawdown (3Y)Largest decline over 3 years | -23.60% | -44.29% | +20.69% |
Max Drawdown (5Y)Largest decline over 5 years | — | -57.38% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -65.47% | — |
Current DrawdownCurrent decline from peak | -8.95% | -27.35% | +18.40% |
Average DrawdownAverage peak-to-trough decline | -10.77% | -56.54% | +45.77% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 5.24% | 4.15% | +1.09% |
Volatility
GXLE.L vs. INRG.L - Volatility Comparison
SPDR S&P US Energy Select Sector UCITS ETF (GXLE.L) and iShares Global Clean Energy UCITS ETF USD (Dist) (INRG.L) have volatilities of 9.27% and 9.58%, 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 | INRG.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 9.27% | 9.58% | -0.31% |
Volatility (6M)Calculated over the trailing 6-month period | 20.29% | 17.61% | +2.68% |
Volatility (1Y)Calculated over the trailing 1-year period | 23.82% | 24.04% | -0.22% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 25.52% | 24.80% | +0.72% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 25.52% | 25.33% | +0.19% |
GXLE.L vs. INRG.L - Expense Ratio Comparison
GXLE.L has a 0.15% expense ratio, which is lower than INRG.L's 0.65% expense ratio.
Dividends
GXLE.L vs. INRG.L - Dividend Comparison
GXLE.L has not paid dividends to shareholders, while INRG.L's dividend yield for the trailing twelve months is around 1.09%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
GXLE.L SPDR S&P US Energy Select Sector UCITS ETF | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
INRG.L iShares Global Clean Energy UCITS ETF USD (Dist) | 1.09% | 1.77% | 1.58% | 1.00% | 0.62% | 1.01% | 0.61% | 2.05% | 3.68% | 3.69% | 3.65% | 3.90% |
Frequently Asked Questions
GXLE.L and INRG.L have a correlation of -0.12, 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 0.65% for INRG.L.
GXLE.L tracks MSCI World/Energy NR USD, while INRG.L tracks S&P Global Clean Energy TR USD. They also come from different issuers: State Street and iShares. Their fees differ too: 0.15% for GXLE.L and 0.65% for INRG.L.
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