INRG.L vs. GXLE.L
INRG.L (iShares Global Clean Energy UCITS ETF USD (Dist)) and GXLE.L (SPDR S&P US Energy Select Sector UCITS ETF) are both Energy Equities funds - INRG.L tracks the S&P Global Clean Energy TR USD while GXLE.L tracks the MSCI World/Energy NR USD. Both are passively managed. Over the past 3 years, INRG.L returned 5.64%/yr vs 14.18%/yr for GXLE.L. At a 0.15 correlation, their price movements are largely independent. INRG.L charges 0.65%/yr vs 0.15%/yr for GXLE.L.
Performance
INRG.L vs. GXLE.L - Performance Comparison
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Different Trading Currencies
INRG.L is traded in GBp, while GXLE.L is traded in GBP. To make them comparable, the GXLE.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 39.09% return, which is significantly higher than GXLE.L's 30.65% return.
INRG.L
- 1D
- -2.01%
- 1M
- 8.39%
- YTD
- 39.09%
- 6M
- 35.51%
- 1Y
- 82.63%
- 3Y*
- 5.64%
- 5Y*
- 2.72%
- 10Y*
- 12.64%
GXLE.L
- 1D
- -0.48%
- 1M
- -0.13%
- YTD
- 30.65%
- 6M
- 28.41%
- 1Y
- 47.66%
- 3Y*
- 14.18%
- 5Y*
- —
- 10Y*
- —
INRG.L vs. GXLE.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
INRG.L iShares Global Clean Energy UCITS ETF USD (Dist) | 39.09% | 34.75% | -24.39% | -23.83% | -1.64% |
GXLE.L SPDR S&P US Energy Select Sector UCITS ETF | 30.65% | 2.22% | 5.51% | -5.03% | 26.48% |
Correlation
The correlation between INRG.L and GXLE.L is -0.12, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.12 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.09 |
Correlation (All Time) Calculated using the full available price history since Apr 5, 2022 | 0.15 |
The correlation between INRG.L and GXLE.L shifts across timeframes, from -0.12 (1 year) to 0.15 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
INRG.L vs. GXLE.L — Risk / Return Rank
INRG.L
GXLE.L
INRG.L vs. GXLE.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 S&P US Energy Select Sector UCITS ETF (GXLE.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.
| INRG.L | GXLE.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.42 | ||
| Sortino ratioReturn per unit of downside risk | +1.93 | ||
| Omega ratioGain probability vs. loss probability | 1.53 | 1.35 | +0.18 |
| Calmar ratioReturn relative to maximum drawdown | 6.64 | 2.85 | +3.79 |
| Martin ratioReturn relative to average drawdown | 19.87 | 9.07 | +10.79 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| INRG.L | GXLE.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 3.42 | 2.00 | +1.42 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.11 | — | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.50 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.02 | 0.53 | -0.51 |
Drawdowns
INRG.L vs. GXLE.L - Drawdown Comparison
The maximum INRG.L drawdown since its inception was -85.09%, which is greater than GXLE.L's maximum drawdown of -23.60%. Use the drawdown chart below to compare losses from any high point for INRG.L and GXLE.L.
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Drawdown Indicators
| INRG.L | GXLE.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -85.09% | -23.60% | -61.49% |
Max Drawdown (1Y)Largest decline over 1 year | -12.38% | -16.63% | +4.25% |
Max Drawdown (3Y)Largest decline over 3 years | -44.29% | -23.60% | -20.69% |
Max Drawdown (5Y)Largest decline over 5 years | -57.38% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -65.47% | — | — |
Current DrawdownCurrent decline from peak | -27.35% | -8.95% | -18.40% |
Average DrawdownAverage peak-to-trough decline | -56.54% | -10.77% | -45.77% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.15% | 5.24% | -1.09% |
Volatility
INRG.L vs. GXLE.L - Volatility Comparison
iShares Global Clean Energy UCITS ETF USD (Dist) (INRG.L) and SPDR S&P US Energy Select Sector UCITS ETF (GXLE.L) have volatilities of 9.58% and 9.27%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| INRG.L | GXLE.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 9.58% | 9.27% | +0.31% |
Volatility (6M)Calculated over the trailing 6-month period | 17.61% | 20.29% | -2.68% |
Volatility (1Y)Calculated over the trailing 1-year period | 24.04% | 23.82% | +0.22% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 24.80% | 25.52% | -0.72% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 25.33% | 25.52% | -0.19% |
INRG.L vs. GXLE.L - Expense Ratio Comparison
INRG.L has a 0.65% expense ratio, which is higher than GXLE.L's 0.15% expense ratio.
Dividends
INRG.L vs. GXLE.L - Dividend Comparison
INRG.L's dividend yield for the trailing twelve months is around 1.09%, while GXLE.L has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
GXLE.L SPDR S&P US Energy Select Sector 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) | 1.09% | 1.77% | 1.58% | 1.00% | 0.62% | 1.01% | 0.61% | 2.05% | 3.68% | 3.69% | 3.65% | 3.90% |
Frequently Asked Questions
INRG.L and GXLE.L have a correlation of -0.12, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, GXLE.L is cheaper at 0.15% per year. The better choice depends on whether you care most about return, fees, risk, or income.
GXLE.L is cheaper with a 0.15% expense ratio, compared with 0.65% for INRG.L.
INRG.L tracks S&P Global Clean Energy TR USD, while GXLE.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 0.15% for GXLE.L.
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