IESU.L vs. MLPD.L
IESU.L (iShares S&P 500 Energy Sector UCITS ETF USD (Acc)) and MLPD.L (Invesco Morningstar US Energy Infrastructure MLP UCITS ETF (Dist)) are both Energy Equities funds - IESU.L tracks the S&P 500 Capped 35/20 Energy Index NTR while MLPD.L tracks the MSCI World/Energy NR USD. Both are passively managed. Over the past 10 years, IESU.L returned 8.52%/yr vs 6.68%/yr for MLPD.L. A 0.71 correlation means they provide meaningful diversification when combined. IESU.L charges 0.15%/yr vs 0.50%/yr for MLPD.L.
Performance
IESU.L vs. MLPD.L - Performance Comparison
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Different Trading Currencies
IESU.L is traded in GBp, while MLPD.L is traded in USD. To make them comparable, the MLPD.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 27.25% return, which is significantly higher than MLPD.L's 20.53% return. Over the past 10 years, IESU.L has outperformed MLPD.L with an annualized return of 8.52%, while MLPD.L has yielded a comparatively lower 6.68% annualized return.
IESU.L
- 1D
- 2.33%
- 1M
- 3.67%
- 6M
- 18.53%
- YTD
- 27.25%
- 1Y
- 35.48%
- 3Y*
- 13.78%
- 5Y*
- 22.56%
- 10Y*
- 8.52%
MLPD.L
- 1D
- 1.17%
- 1M
- 5.50%
- 6M
- 13.95%
- YTD
- 20.53%
- 1Y
- 18.37%
- 3Y*
- 16.91%
- 5Y*
- 19.30%
- 10Y*
- 6.68%
IESU.L vs. MLPD.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
IESU.L iShares S&P 500 Energy Sector UCITS ETF USD (Acc) | 27.25% | 2.26% | 5.45% | -5.96% | 83.53% | 53.82% | -35.62% | 5.37% | -13.39% | -10.01% |
MLPD.L Invesco Morningstar US Energy Infrastructure MLP UCITS ETF (Dist) | 20.53% | -4.95% | 24.67% | 13.72% | 47.50% | 38.20% | -33.40% | 3.14% | -9.87% | -16.56% |
Correlation
The correlation between IESU.L and MLPD.L is 0.69, 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 | 0.69 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.66 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.73 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.71 |
Correlation (All Time) Calculated using the full available price history since Nov 20, 2015 | 0.71 |
The correlation between IESU.L and MLPD.L has been stable across timeframes, ranging from 0.66 to 0.73 - a consistent structural relationship.
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Return for Risk
IESU.L vs. MLPD.L — Risk / Return Rank
IESU.L
MLPD.L
IESU.L vs. MLPD.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 Invesco Morningstar US Energy Infrastructure MLP UCITS ETF (Dist) (MLPD.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 | MLPD.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.32 | ||
| Sortino ratioReturn per unit of downside risk | +0.30 | ||
| Omega ratioGain probability vs. loss probability | 1.26 | 1.19 | +0.06 |
| Calmar ratioReturn relative to maximum drawdown | 2.04 | 1.95 | +0.08 |
| Martin ratioReturn relative to average drawdown | 4.96 | 4.31 | +0.64 |
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Drawdowns
IESU.L vs. MLPD.L - Drawdown Comparison
The maximum IESU.L drawdown since its inception was -63.88%, smaller than the maximum MLPD.L drawdown of -75.45%. Use the drawdown chart below to compare losses from any high point for IESU.L and MLPD.L.
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Drawdown Indicators
| IESU.L | MLPD.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -63.88% | -75.45% | +11.57% |
Max Drawdown (1Y)Largest decline over 1 year | -17.34% | -9.38% | -7.96% |
Max Drawdown (3Y)Largest decline over 3 years | -26.36% | -19.01% | -7.35% |
Max Drawdown (5Y)Largest decline over 5 years | -26.36% | -19.01% | -7.35% |
Max Drawdown (10Y)Largest decline over 10 years | -62.16% | -73.90% | +11.74% |
Current DrawdownCurrent decline from peak | -11.59% | -2.31% | -9.28% |
Average DrawdownAverage peak-to-trough decline | -20.51% | -20.01% | -0.50% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 7.13% | 4.25% | +2.88% |
Volatility
IESU.L vs. MLPD.L - Volatility Comparison
iShares S&P 500 Energy Sector UCITS ETF USD (Acc) (IESU.L) has a higher volatility of 7.73% compared to Invesco Morningstar US Energy Infrastructure MLP UCITS ETF (Dist) (MLPD.L) at 4.32%. This indicates that IESU.L's price experiences larger fluctuations and is considered to be riskier than MLPD.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| IESU.L | MLPD.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.73% | 4.32% | +3.41% |
Volatility (6M)Calculated over the trailing 6-month period | 21.73% | 12.54% | +9.19% |
Volatility (1Y)Calculated over the trailing 1-year period | 24.62% | 16.29% | +8.33% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 29.09% | 20.11% | +8.98% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 29.16% | 27.99% | +1.17% |
IESU.L vs. MLPD.L - Expense Ratio Comparison
IESU.L has a 0.15% expense ratio, which is lower than MLPD.L's 0.50% expense ratio.
Dividends
IESU.L vs. MLPD.L - Dividend Comparison
IESU.L has not paid dividends to shareholders, while MLPD.L's dividend yield for the trailing twelve months is around 7.58%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
IESU.L iShares S&P 500 Energy Sector UCITS ETF USD (Acc) | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
MLPD.L Invesco Morningstar US Energy Infrastructure MLP UCITS ETF (Dist) | 7.58% | 8.21% | 8.18% | 8.60% | 7.98% | 8.57% | 11.03% | 10.06% | 9.87% | 8.15% | 8.14% | 9.96% |
Frequently Asked Questions
IESU.L and MLPD.L have a correlation of 0.69, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
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.
IESU.L is cheaper with a 0.15% expense ratio, compared with 0.50% for MLPD.L.
IESU.L tracks S&P 500 Capped 35/20 Energy Index NTR, while MLPD.L tracks MSCI World/Energy NR USD. They also come from different issuers: iShares and Invesco. Their fees differ too: 0.15% for IESU.L and 0.50% for MLPD.L.
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