IESU.L vs. ISPE.L

Last updated Jul 21, 2026

IESU.L (iShares S&P 500 Energy Sector UCITS ETF USD (Acc)) and ISPE.L (iShares S&P 500 Equal Weight UCITS ETF GBP Hedged (Acc)) are both exchange-traded funds - IESU.L is a Energy Equities fund tracking the S&P 500 Capped 35/20 Energy Index NTR, while ISPE.L is a S&P 500 fund tracking the S&P 500 Equal Weight Index (USD). Both are passively managed. Over the past 3 years, IESU.L returned 12.77%/yr vs 12.25%/yr for ISPE.L. At a 0.20 correlation, their price movements are largely independent. IESU.L charges 0.15%/yr vs 0.17%/yr for ISPE.L.

Performance

IESU.L vs. ISPE.L - Performance Comparison

The chart below illustrates the hypothetical performance of a £10,000 investment in iShares S&P 500 Energy Sector UCITS ETF USD (Acc) (IESU.L) and iShares S&P 500 Equal Weight UCITS ETF GBP Hedged (Acc) (ISPE.L). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

IESU.L is traded in GBp, while ISPE.L is traded in GBP. To make them comparable, the ISPE.L values have been converted to GBp using the latest available exchange rates.

Returns By Period

In the year-to-date period, IESU.L achieves a 30.39% return, which is significantly higher than ISPE.L's 11.04% return.

IESU.L

• 1D: 1.39%
• 1M: 6.94%
• 6M: 22.87%
• YTD: 30.39%
• 1Y: 38.56%
• 3Y*: 12.77%
• 5Y*: 23.21%
• 10Y*: 8.70%
• ALL TIME*: 6.04%

ISPE.L

• 1D: -0.53%
• 1M: 1.78%
• 6M: 8.45%
• YTD: 11.04%
• 1Y: 16.98%
• 3Y*: 12.25%
• 5Y*: —
• 10Y*: —
• ALL TIME*: 10.54%

*Multi-year figures are annualized to reflect compound growth (CAGR)

IESU.L vs. ISPE.L - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
IESU.L iShares S&P 500 Energy Sector UCITS ETF USD (Acc)	30.39%	2.26%	5.45%	-5.96%	18.24%
ISPE.L iShares S&P 500 Equal Weight UCITS ETF GBP Hedged (Acc)	11.04%	11.30%	11.48%	12.23%	-3.77%

Correlation

The correlation between IESU.L and ISPE.L is -0.09, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	-0.09
Correlation (3Y) Calculated over the trailing 3-year period	0.14
Correlation (All Time) Calculated using the full available price history since Aug 2, 2022	0.20

The correlation between IESU.L and ISPE.L shifts across timeframes, from -0.09 (1 year) to 0.20 (all time), reflecting how their relationship changes across market environments.

IESU.L vs. ISPE.L - Sectors Allocation Comparison

Sectors	IESU.L	ISPE.L
Energy	100.0%	3.8%
Basic Materials	-	3.9%
Communication Services	-	4.0%
Consumer Cyclical	-	10.9%
Consumer Defensive	-	6.4%
Financial Services	-	13.9%
Healthcare	-	12.0%
Industrials	-	15.7%
Real Estate	-	5.9%
Technology	-	17.3%
Utilities	-	6.3%

Return for Risk

IESU.L vs. ISPE.L — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

IESU.L

IESU.L Risk / Return Rank: 57
IESU.L Sharpe Ratio Rank: 65
IESU.L Sortino Ratio Rank: 56
IESU.L Omega Ratio Rank: 61
IESU.L Calmar Ratio Rank: 60
IESU.L Martin Ratio Rank: 45

ISPE.L

ISPE.L Risk / Return Rank: 66
ISPE.L Sharpe Ratio Rank: 65
ISPE.L Sortino Ratio Rank: 70
ISPE.L Omega Ratio Rank: 63
ISPE.L Calmar Ratio Rank: 67
ISPE.L Martin Ratio Rank: 67

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

IESU.L vs. ISPE.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares S&P 500 Energy Sector UCITS ETF USD (Acc) (IESU.L) and iShares S&P 500 Equal Weight UCITS ETF GBP Hedged (Acc) (ISPE.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.

	IESU.L	ISPE.L	Difference
Sharpe ratio: Return per unit of total volatility	1.56	1.58	-0.01
Sortino ratio: Return per unit of downside risk	2.02	2.40	-0.38
Omega ratio: Gain probability vs. loss probability	1.28	1.28	0.00
Calmar ratio: Return relative to maximum drawdown	2.21	2.45	-0.24
Martin ratio: Return relative to average drawdown	5.35	8.70	-3.35

IESU.L vs. ISPE.L - Sharpe Ratio Comparison

The current IESU.L Sharpe Ratio is 1.56, which is comparable to the ISPE.L Sharpe Ratio of 1.58. The chart below compares the historical Sharpe Ratios of IESU.L and ISPE.L, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

IESU.L vs. ISPE.L - Drawdown Comparison

The maximum IESU.L drawdown since its inception was -63.88%, which is greater than ISPE.L's maximum drawdown of -18.22%. Use the drawdown chart below to compare losses from any high point for IESU.L and ISPE.L.

Drawdown Indicators

	IESU.L	ISPE.L	Difference
Max Drawdown Largest peak-to-trough decline	-63.88%	-18.22%	-45.66%
Max Drawdown (1Y) Largest decline over 1 year	-17.34%	-6.90%	-10.44%
Max Drawdown (3Y) Largest decline over 3 years	-26.36%	-18.22%	-8.14%
Max Drawdown (5Y) Largest decline over 5 years	-26.36%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-62.16%	—	—
Current Drawdown Current decline from peak	-9.40%	-0.93%	-8.47%
Average Drawdown Average peak-to-trough decline	-20.50%	-3.72%	-16.78%
Ulcer Index Depth and duration of drawdowns from previous peaks	7.19%	1.95%	+5.24%

Volatility

IESU.L vs. ISPE.L - Volatility Comparison

iShares S&P 500 Energy Sector UCITS ETF USD (Acc) (IESU.L) has a higher volatility of 7.54% compared to iShares S&P 500 Equal Weight UCITS ETF GBP Hedged (Acc) (ISPE.L) at 2.72%. This indicates that IESU.L's price experiences larger fluctuations and is considered to be riskier than ISPE.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	IESU.L	ISPE.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.54%	2.72%	+4.82%
Volatility (6M) Calculated over the trailing 6-month period	21.76%	7.93%	+13.83%
Volatility (1Y) Calculated over the trailing 1-year period	24.61%	10.74%	+13.87%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	28.98%	14.62%	+14.36%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	29.17%	14.62%	+14.55%

IESU.L vs. ISPE.L - Expense Ratio Comparison

IESU.L has a 0.15% expense ratio, which is lower than ISPE.L's 0.17% 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

IESU.L vs. ISPE.L - Dividend Comparison

Neither IESU.L nor ISPE.L has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both IESU.L and ISPE.L in my portfolio?

IESU.L and ISPE.L have a correlation of -0.09, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, IESU.L or ISPE.L?

On fees, IESU.L is cheaper at 0.15% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, IESU.L or ISPE.L?

IESU.L is cheaper with a 0.15% expense ratio, compared with 0.17% for ISPE.L.

What is the main difference between IESU.L and ISPE.L?

IESU.L is categorized as Energy Equities, while ISPE.L is S&P 500. IESU.L tracks S&P 500 Capped 35/20 Energy Index NTR, while ISPE.L tracks S&P 500 Equal Weight Index (USD). Their fees differ too: 0.15% for IESU.L and 0.17% for ISPE.L.