GXLE.L vs. WENS.L
GXLE.L (SPDR S&P US Energy Select Sector UCITS ETF) and WENS.L (iShares MSCI World Energy Sector UCITS ETF USD (Dist)) are both Energy Equities funds tracking the MSCI World/Energy NR USD, from State Street and iShares respectively. Both are passively managed. Over the past 3 years, GXLE.L returned 14.18%/yr vs 13.87%/yr for WENS.L. With a 0.96 correlation, they move nearly in lockstep. GXLE.L charges 0.15%/yr vs 0.25%/yr for WENS.L.
Performance
GXLE.L vs. WENS.L - Performance Comparison
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Returns By Period
The year-to-date returns for both investments are quite close, with GXLE.L having a 30.65% return and WENS.L slightly higher at 31.38%.
GXLE.L
- 1D
- -0.48%
- 1M
- -0.13%
- YTD
- 30.65%
- 6M
- 28.41%
- 1Y
- 47.66%
- 3Y*
- 14.18%
- 5Y*
- —
- 10Y*
- —
WENS.L
- 1D
- -0.43%
- 1M
- -0.63%
- YTD
- 31.38%
- 6M
- 26.68%
- 1Y
- 44.00%
- 3Y*
- 13.87%
- 5Y*
- —
- 10Y*
- —
GXLE.L vs. WENS.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% | 23.14% |
WENS.L iShares MSCI World Energy Sector UCITS ETF USD (Dist) | 31.38% | 3.24% | 2.09% | -2.00% | 17.73% |
Correlation
The correlation between GXLE.L and WENS.L is 0.91, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.91 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.94 |
Correlation (All Time) Calculated using the full available price history since Jul 1, 2022 | 0.96 |
The correlation between GXLE.L and WENS.L has been stable across timeframes, ranging from 0.91 to 0.96 - a consistent structural relationship.
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Return for Risk
GXLE.L vs. WENS.L — Risk / Return Rank
GXLE.L
WENS.L
GXLE.L vs. WENS.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 MSCI World Energy Sector UCITS ETF USD (Dist) (WENS.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 | WENS.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.06 | ||
| Sortino ratioReturn per unit of downside risk | -0.09 | ||
| Omega ratioGain probability vs. loss probability | 1.35 | 1.37 | -0.02 |
| Calmar ratioReturn relative to maximum drawdown | 2.85 | 2.99 | -0.14 |
| Martin ratioReturn relative to average drawdown | 9.07 | 9.66 | -0.59 |
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 | WENS.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.00 | 2.06 | -0.06 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.53 | 0.59 | -0.06 |
Drawdowns
GXLE.L vs. WENS.L - Drawdown Comparison
The maximum GXLE.L drawdown since its inception was -23.60%, roughly equal to the maximum WENS.L drawdown of -22.49%. Use the drawdown chart below to compare losses from any high point for GXLE.L and WENS.L.
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Drawdown Indicators
| GXLE.L | WENS.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -23.60% | -22.49% | -1.11% |
Max Drawdown (1Y)Largest decline over 1 year | -16.63% | -14.63% | -2.00% |
Max Drawdown (3Y)Largest decline over 3 years | -23.60% | -22.49% | -1.11% |
Current DrawdownCurrent decline from peak | -8.95% | -7.62% | -1.33% |
Average DrawdownAverage peak-to-trough decline | -10.77% | -9.15% | -1.62% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 5.24% | 4.54% | +0.70% |
Volatility
GXLE.L vs. WENS.L - Volatility Comparison
SPDR S&P US Energy Select Sector UCITS ETF (GXLE.L) has a higher volatility of 9.27% compared to iShares MSCI World Energy Sector UCITS ETF USD (Dist) (WENS.L) at 7.96%. This indicates that GXLE.L's price experiences larger fluctuations and is considered to be riskier than WENS.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 | WENS.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 9.27% | 7.96% | +1.31% |
Volatility (6M)Calculated over the trailing 6-month period | 20.29% | 18.19% | +2.10% |
Volatility (1Y)Calculated over the trailing 1-year period | 23.82% | 21.33% | +2.49% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 25.52% | 21.49% | +4.03% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 25.52% | 21.49% | +4.03% |
GXLE.L vs. WENS.L - Expense Ratio Comparison
GXLE.L has a 0.15% expense ratio, which is lower than WENS.L's 0.25% 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. WENS.L - Dividend Comparison
Neither GXLE.L nor WENS.L has paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
GXLE.L SPDR S&P US Energy Select Sector UCITS ETF | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
WENS.L iShares MSCI World Energy Sector UCITS ETF USD (Dist) | 0.00% | 0.00% | 1.75% | 3.61% | 1.77% |
Frequently Asked Questions
With a correlation of 0.91, GXLE.L and WENS.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.
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 0.25% for WENS.L.
Both ETFs track MSCI World/Energy NR USD. They also come from different issuers: State Street and iShares. Their fees differ too: 0.15% for GXLE.L and 0.25% for WENS.L.
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