IESU.L vs. MLPQ.L
IESU.L (iShares S&P 500 Energy Sector UCITS ETF USD (Acc)) and MLPQ.L (Invesco Morningstar US Energy Infrastructure MLP UCITS ETF) are both Energy Equities funds - IESU.L tracks the S&P 500 Capped 35/20 Energy Index NTR while MLPQ.L tracks the MSCI World/Energy NR USD. Both are passively managed. Over the past 10 years, IESU.L returned 8.52%/yr vs 6.74%/yr for MLPQ.L. A 0.72 correlation means they provide meaningful diversification when combined. IESU.L charges 0.15%/yr vs 0.50%/yr for MLPQ.L.
Performance
IESU.L vs. MLPQ.L - Performance Comparison
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Returns By Period
In the year-to-date period, IESU.L achieves a 27.25% return, which is significantly higher than MLPQ.L's 20.29% return. Over the past 10 years, IESU.L has outperformed MLPQ.L with an annualized return of 8.52%, while MLPQ.L has yielded a comparatively lower 6.74% 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%
MLPQ.L
- 1D
- 0.85%
- 1M
- 5.25%
- 6M
- 13.96%
- YTD
- 20.29%
- 1Y
- 18.65%
- 3Y*
- 16.90%
- 5Y*
- 19.30%
- 10Y*
- 6.74%
IESU.L vs. MLPQ.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% |
MLPQ.L Invesco Morningstar US Energy Infrastructure MLP UCITS ETF | 20.29% | -4.55% | 24.63% | 12.94% | 47.46% | 38.65% | -33.55% | 3.85% | -10.58% | -16.33% |
Correlation
The correlation between IESU.L and MLPQ.L is 0.73, 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 | 0.73 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.71 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.77 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.73 |
Correlation (All Time) Calculated using the full available price history since Nov 20, 2015 | 0.72 |
The correlation between IESU.L and MLPQ.L has been stable across timeframes, ranging from 0.71 to 0.77 - a consistent structural relationship.
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Return for Risk
IESU.L vs. MLPQ.L — Risk / Return Rank
IESU.L
MLPQ.L
IESU.L vs. MLPQ.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 (MLPQ.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 | MLPQ.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.31 | ||
| Sortino ratioReturn per unit of downside risk | +0.33 | ||
| Omega ratioGain probability vs. loss probability | 1.26 | 1.20 | +0.06 |
| Calmar ratioReturn relative to maximum drawdown | 2.04 | 2.05 | -0.01 |
| Martin ratioReturn relative to average drawdown | 4.96 | 4.43 | +0.52 |
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Drawdowns
IESU.L vs. MLPQ.L - Drawdown Comparison
The maximum IESU.L drawdown since its inception was -63.88%, smaller than the maximum MLPQ.L drawdown of -81.18%. Use the drawdown chart below to compare losses from any high point for IESU.L and MLPQ.L.
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Drawdown Indicators
| IESU.L | MLPQ.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -63.88% | -81.18% | +17.30% |
Max Drawdown (1Y)Largest decline over 1 year | -17.34% | -9.07% | -8.27% |
Max Drawdown (3Y)Largest decline over 3 years | -26.36% | -21.78% | -4.58% |
Max Drawdown (5Y)Largest decline over 5 years | -26.36% | -21.78% | -4.58% |
Max Drawdown (10Y)Largest decline over 10 years | -62.16% | -74.07% | +11.91% |
Current DrawdownCurrent decline from peak | -11.59% | -2.44% | -9.15% |
Average DrawdownAverage peak-to-trough decline | -20.51% | -34.85% | +14.34% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 7.13% | 4.20% | +2.93% |
Volatility
IESU.L vs. MLPQ.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 (MLPQ.L) at 3.96%. This indicates that IESU.L's price experiences larger fluctuations and is considered to be riskier than MLPQ.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 | MLPQ.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.73% | 3.96% | +3.77% |
Volatility (6M)Calculated over the trailing 6-month period | 21.73% | 12.92% | +8.81% |
Volatility (1Y)Calculated over the trailing 1-year period | 24.62% | 16.45% | +8.17% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 29.09% | 23.47% | +5.62% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 29.16% | 28.98% | +0.18% |
IESU.L vs. MLPQ.L - Expense Ratio Comparison
IESU.L has a 0.15% expense ratio, which is lower than MLPQ.L's 0.50% expense ratio.
Dividends
IESU.L vs. MLPQ.L - Dividend Comparison
Neither IESU.L nor MLPQ.L has paid dividends to shareholders.
Frequently Asked Questions
IESU.L and MLPQ.L have a correlation of 0.73, 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 MLPQ.L.
IESU.L tracks S&P 500 Capped 35/20 Energy Index NTR, while MLPQ.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 MLPQ.L.
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