INRG.L vs. ENGE.L
INRG.L (iShares Global Clean Energy UCITS ETF USD (Dist)) and ENGE.L (SPDR MSCI Europe Energy UCITS ETF) are both Energy Equities funds - INRG.L tracks the S&P Global Clean Energy TR USD while ENGE.L tracks the MSCI World/Energy NR USD. Both are passively managed. Over the past 10 years, INRG.L returned 11.03%/yr vs 8.52%/yr for ENGE.L. At a 0.34 correlation, their price movements are largely independent. INRG.L charges 0.65%/yr vs 0.18%/yr for ENGE.L.
Performance
INRG.L vs. ENGE.L - Performance Comparison
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Different Trading Currencies
INRG.L is traded in GBp, while ENGE.L is traded in GBP. To make them comparable, the ENGE.L values have been converted to GBp using the latest available exchange rates.
Returns By Period
In the year-to-date period, INRG.L achieves a 25.38% return, which is significantly higher than ENGE.L's 19.50% return. Over the past 10 years, INRG.L has outperformed ENGE.L with an annualized return of 11.03%, while ENGE.L has yielded a comparatively lower 8.52% annualized return.
INRG.L
- 1D
- -3.49%
- 1M
- -10.15%
- YTD
- 25.38%
- 6M
- 24.63%
- 1Y
- 62.61%
- 3Y*
- 3.90%
- 5Y*
- -0.72%
- 10Y*
- 11.03%
ENGE.L
- 1D
- 0.00%
- 1M
- -9.38%
- YTD
- 19.50%
- 6M
- 21.05%
- 1Y
- 36.91%
- 3Y*
- 13.76%
- 5Y*
- 13.37%
- 10Y*
- 8.52%
INRG.L vs. ENGE.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
INRG.L iShares Global Clean Energy UCITS ETF USD (Dist) | 25.38% | 34.16% | -24.63% | -23.98% | 5.40% | -23.91% | 134.72% | 38.52% | -3.45% | 9.49% |
ENGE.L SPDR MSCI Europe Energy UCITS ETF | 19.50% | 20.13% | -9.19% | 5.91% | 23.09% | 36.06% | -31.47% | 9.33% | -0.15% | 4.98% |
Correlation
The correlation between INRG.L and ENGE.L is -0.02, 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 | -0.02 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.17 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.18 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.25 |
Correlation (All Time) Calculated using the full available price history since Jan 4, 2011 | 0.34 |
The correlation between INRG.L and ENGE.L shifts across timeframes, from -0.02 (1 year) to 0.34 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
INRG.L vs. ENGE.L — Risk / Return Rank
INRG.L
ENGE.L
INRG.L vs. ENGE.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Global Clean Energy UCITS ETF USD (Dist) (INRG.L) and SPDR MSCI Europe Energy UCITS ETF (ENGE.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.
| INRG.L | ENGE.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.82 | ||
| Sortino ratioReturn per unit of downside risk | +1.12 | ||
| Omega ratioGain probability vs. loss probability | 1.39 | 1.29 | +0.09 |
| Calmar ratioReturn relative to maximum drawdown | 4.16 | 2.19 | +1.97 |
| Martin ratioReturn relative to average drawdown | 12.70 | 7.47 | +5.23 |
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Drawdowns
INRG.L vs. ENGE.L - Drawdown Comparison
The maximum INRG.L drawdown since its inception was -92.06%, which is greater than ENGE.L's maximum drawdown of -58.70%. Use the drawdown chart below to compare losses from any high point for INRG.L and ENGE.L.
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Drawdown Indicators
| INRG.L | ENGE.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -92.06% | -58.70% | -33.36% |
Max Drawdown (1Y)Largest decline over 1 year | -14.97% | -16.94% | +1.97% |
Max Drawdown (3Y)Largest decline over 3 years | -43.59% | -25.54% | -18.05% |
Max Drawdown (5Y)Largest decline over 5 years | -57.62% | -25.54% | -32.08% |
Max Drawdown (10Y)Largest decline over 10 years | -65.78% | -58.70% | -7.08% |
Current DrawdownCurrent decline from peak | -61.76% | -16.94% | -44.82% |
Average DrawdownAverage peak-to-trough decline | -74.76% | -11.88% | -62.88% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.92% | 4.96% | -0.04% |
Volatility
INRG.L vs. ENGE.L - Volatility Comparison
iShares Global Clean Energy UCITS ETF USD (Dist) (INRG.L) has a higher volatility of 10.07% compared to SPDR MSCI Europe Energy UCITS ETF (ENGE.L) at 8.31%. This indicates that INRG.L's price experiences larger fluctuations and is considered to be riskier than ENGE.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| INRG.L | ENGE.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 10.07% | 8.31% | +1.76% |
Volatility (6M)Calculated over the trailing 6-month period | 19.60% | 20.24% | -0.64% |
Volatility (1Y)Calculated over the trailing 1-year period | 25.52% | 22.88% | +2.64% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 25.09% | 24.72% | +0.37% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 25.45% | 26.33% | -0.88% |
INRG.L vs. ENGE.L - Expense Ratio Comparison
INRG.L has a 0.65% expense ratio, which is higher than ENGE.L's 0.18% expense ratio.
Dividends
INRG.L vs. ENGE.L - Dividend Comparison
INRG.L's dividend yield for the trailing twelve months is around 0.91%, while ENGE.L has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
ENGE.L SPDR MSCI Europe Energy UCITS ETF | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
INRG.L iShares Global Clean Energy UCITS ETF USD (Dist) | 0.91% | 1.34% | 1.24% | 0.80% | 0.51% | 0.74% | 0.48% | 1.60% | 2.81% | 2.83% | 2.73% | 2.55% |
Frequently Asked Questions
INRG.L and ENGE.L have a correlation of -0.02, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, ENGE.L is cheaper at 0.18% per year. The better choice depends on whether you care most about return, fees, risk, or income.
ENGE.L is cheaper with a 0.18% expense ratio, compared with 0.65% for INRG.L.
INRG.L tracks S&P Global Clean Energy TR USD, while ENGE.L tracks MSCI World/Energy NR USD. They also come from different issuers: iShares and State Street. Their fees differ too: 0.65% for INRG.L and 0.18% for ENGE.L.
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