IESU.L vs. PMLP.L
IESU.L (iShares S&P 500 Energy Sector UCITS ETF USD (Acc)) and PMLP.L (HANetf Alerian Midstream Energy Dividend UCITS ETF) are both Energy Equities funds - IESU.L tracks the S&P 500 Capped 35/20 Energy Index NTR while PMLP.L tracks the MSCI World/Energy NR USD. Both are passively managed. Over the past 5 years, IESU.L returned 22.56%/yr vs 20.76%/yr for PMLP.L. A 0.76 correlation means they provide meaningful diversification when combined. IESU.L charges 0.15%/yr vs 0.40%/yr for PMLP.L.
Performance
IESU.L vs. PMLP.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 lower than PMLP.L's 30.66% 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%
PMLP.L
- 1D
- 0.88%
- 1M
- 5.39%
- 6M
- 29.12%
- YTD
- 30.66%
- 1Y
- 35.69%
- 3Y*
- 24.77%
- 5Y*
- 20.76%
- 10Y*
- —
IESU.L vs. PMLP.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
IESU.L iShares S&P 500 Energy Sector UCITS ETF USD (Acc) | 27.25% | 2.26% | 5.45% | -5.96% | 83.53% | 53.82% | -2.71% |
PMLP.L HANetf Alerian Midstream Energy Dividend UCITS ETF | 30.66% | -1.39% | 35.81% | 7.60% | 35.33% | 34.86% | -17.91% |
Correlation
The correlation between IESU.L and PMLP.L is 0.72, 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 | 0.72 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.67 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.75 |
Correlation (All Time) Calculated using the full available price history since Jul 27, 2020 | 0.76 |
The correlation between IESU.L and PMLP.L has been stable across timeframes, ranging from 0.67 to 0.76 - a consistent structural relationship.
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Return for Risk
IESU.L vs. PMLP.L — Risk / Return Rank
IESU.L
PMLP.L
IESU.L vs. PMLP.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 HANetf Alerian Midstream Energy Dividend UCITS ETF (PMLP.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 | PMLP.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.39 | ||
| Sortino ratioReturn per unit of downside risk | -0.51 | ||
| Omega ratioGain probability vs. loss probability | 1.26 | 1.31 | -0.05 |
| Calmar ratioReturn relative to maximum drawdown | 2.04 | 3.28 | -1.25 |
| Martin ratioReturn relative to average drawdown | 4.96 | 8.98 | -4.02 |
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Drawdowns
IESU.L vs. PMLP.L - Drawdown Comparison
The maximum IESU.L drawdown since its inception was -63.88%, which is greater than PMLP.L's maximum drawdown of -31.86%. Use the drawdown chart below to compare losses from any high point for IESU.L and PMLP.L.
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Drawdown Indicators
| IESU.L | PMLP.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -63.88% | -31.86% | -32.02% |
Max Drawdown (1Y)Largest decline over 1 year | -17.34% | -10.82% | -6.52% |
Max Drawdown (3Y)Largest decline over 3 years | -26.36% | -20.50% | -5.86% |
Max Drawdown (5Y)Largest decline over 5 years | -26.36% | -20.50% | -5.86% |
Max Drawdown (10Y)Largest decline over 10 years | -62.16% | — | — |
Current DrawdownCurrent decline from peak | -11.59% | -1.32% | -10.27% |
Average DrawdownAverage peak-to-trough decline | -20.51% | -7.22% | -13.29% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 7.13% | 3.96% | +3.17% |
Volatility
IESU.L vs. PMLP.L - Volatility Comparison
iShares S&P 500 Energy Sector UCITS ETF USD (Acc) (IESU.L) has a higher volatility of 7.73% compared to HANetf Alerian Midstream Energy Dividend UCITS ETF (PMLP.L) at 5.76%. This indicates that IESU.L's price experiences larger fluctuations and is considered to be riskier than PMLP.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 | PMLP.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.73% | 5.76% | +1.97% |
Volatility (6M)Calculated over the trailing 6-month period | 21.73% | 16.30% | +5.43% |
Volatility (1Y)Calculated over the trailing 1-year period | 24.62% | 19.45% | +5.17% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 29.09% | 19.71% | +9.38% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 29.16% | 23.18% | +5.98% |
IESU.L vs. PMLP.L - Expense Ratio Comparison
IESU.L has a 0.15% expense ratio, which is lower than PMLP.L's 0.40% expense ratio.
Dividends
IESU.L vs. PMLP.L - Dividend Comparison
IESU.L has not paid dividends to shareholders, while PMLP.L's dividend yield for the trailing twelve months is around 2.78%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|---|
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% |
PMLP.L HANetf Alerian Midstream Energy Dividend UCITS ETF | 2.78% | 3.31% | 3.37% | 6.48% | 6.12% | 6.58% | 4.17% |
Frequently Asked Questions
IESU.L and PMLP.L have a correlation of 0.72, 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 0.40% for PMLP.L.
IESU.L tracks S&P 500 Capped 35/20 Energy Index NTR, while PMLP.L tracks MSCI World/Energy NR USD. They also come from different issuers: iShares and HANetf. Their fees differ too: 0.15% for IESU.L and 0.40% for PMLP.L.
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