INRG.L vs. PMLP.L

Last updated Jun 26, 2026

INRG.L (iShares Global Clean Energy UCITS ETF USD (Dist)) and PMLP.L (HANetf Alerian Midstream Energy Dividend UCITS ETF) are both Energy Equities funds - INRG.L tracks the S&P Global Clean Energy TR USD while PMLP.L tracks the MSCI World/Energy NR USD. Both are passively managed. Over the past 5 years, INRG.L returned -0.72%/yr vs 19.81%/yr for PMLP.L. At a 0.20 correlation, their price movements are largely independent. INRG.L charges 0.65%/yr vs 0.40%/yr for PMLP.L.

Performance

INRG.L vs. PMLP.L - Performance Comparison

The chart below illustrates the hypothetical performance of a £10,000 investment in iShares Global Clean Energy UCITS ETF USD (Dist) (INRG.L) and HANetf Alerian Midstream Energy Dividend UCITS ETF (PMLP.L). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, INRG.L achieves a 25.38% return, which is significantly lower than PMLP.L's 29.65% 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%

PMLP.L

• 1D: 1.39%
• 1M: -0.06%
• YTD: 29.65%
• 6M: 30.68%
• 1Y: 36.13%
• 3Y*: 24.56%
• 5Y*: 19.81%
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

INRG.L vs. PMLP.L - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
INRG.L iShares Global Clean Energy UCITS ETF USD (Dist)	25.38%	34.16%	-24.63%	-23.98%	5.40%	-23.91%	84.06%
PMLP.L HANetf Alerian Midstream Energy Dividend UCITS ETF	29.65%	-1.39%	35.81%	7.60%	35.33%	34.86%	-17.91%

Correlation

The correlation between INRG.L and PMLP.L is -0.11, 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	-0.11
Correlation (3Y) Calculated over the trailing 3-year period	0.09
Correlation (5Y) Calculated over the trailing 5-year period	0.20
Correlation (All Time) Calculated using the full available price history since Jul 27, 2020	0.20

The correlation between INRG.L and PMLP.L shifts across timeframes, from -0.11 (1 year) to 0.20 (5 years), reflecting how their relationship changes across market environments.

INRG.L vs. PMLP.L - Sectors Allocation Comparison

Sectors	INRG.L	PMLP.L
Utilities	36.6%	-
Industrials	25.3%	-
Energy	25.1%	100.0%
Technology	10.5%	-
Basic Materials	1.3%	-
Consumer Cyclical	0.1%	-
Communication Services	-	-
Consumer Defensive	-	-
Financial Services	-	-
Healthcare	-	-
Real Estate	-	-

Return for Risk

INRG.L vs. PMLP.L — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

INRG.L

INRG.L Risk / Return Rank: 81
INRG.L Sharpe Ratio Rank: 86
INRG.L Sortino Ratio Rank: 82
INRG.L Omega Ratio Rank: 75
INRG.L Calmar Ratio Rank: 86
INRG.L Martin Ratio Rank: 76

PMLP.L

PMLP.L Risk / Return Rank: 63
PMLP.L Sharpe Ratio Rank: 66
PMLP.L Sortino Ratio Rank: 60
PMLP.L Omega Ratio Rank: 58
PMLP.L Calmar Ratio Rank: 74
PMLP.L Martin Ratio Rank: 59

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

INRG.L vs. PMLP.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 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.

	INRG.L	PMLP.L	Difference
Sharpe ratio: Return per unit of total volatility	2.44	1.88	+0.57
Sortino ratio: Return per unit of downside risk	3.18	2.47	+0.71
Omega ratio: Gain probability vs. loss probability	1.39	1.31	+0.07
Calmar ratio: Return relative to maximum drawdown	4.16	3.32	+0.84
Martin ratio: Return relative to average drawdown	12.70	9.23	+3.47

INRG.L vs. PMLP.L - Sharpe Ratio Comparison

The current INRG.L Sharpe Ratio is 2.44, which is higher than the PMLP.L Sharpe Ratio of 1.88. The chart below compares the historical Sharpe Ratios of INRG.L and PMLP.L, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

INRG.L vs. PMLP.L - Drawdown Comparison

The maximum INRG.L drawdown since its inception was -92.06%, 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 INRG.L and PMLP.L.

Drawdown Indicators

	INRG.L	PMLP.L	Difference
Max Drawdown Largest peak-to-trough decline	-92.06%	-31.86%	-60.20%
Max Drawdown (1Y) Largest decline over 1 year	-14.97%	-10.82%	-4.15%
Max Drawdown (3Y) Largest decline over 3 years	-43.59%	-20.50%	-23.09%
Max Drawdown (5Y) Largest decline over 5 years	-57.62%	-20.50%	-37.12%
Max Drawdown (10Y) Largest decline over 10 years	-65.78%	—	—
Current Drawdown Current decline from peak	-61.76%	-2.08%	-59.68%
Average Drawdown Average peak-to-trough decline	-74.76%	-7.27%	-67.49%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.92%	3.90%	+1.02%

Volatility

INRG.L vs. PMLP.L - Volatility Comparison

iShares Global Clean Energy UCITS ETF USD (Dist) (INRG.L) has a higher volatility of 10.07% compared to HANetf Alerian Midstream Energy Dividend UCITS ETF (PMLP.L) at 6.69%. This indicates that INRG.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.

Volatility by Period

	INRG.L	PMLP.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	10.07%	6.69%	+3.38%
Volatility (6M) Calculated over the trailing 6-month period	19.60%	15.83%	+3.77%
Volatility (1Y) Calculated over the trailing 1-year period	25.52%	19.17%	+6.35%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	25.09%	19.67%	+5.42%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	25.45%	23.20%	+2.25%

INRG.L vs. PMLP.L - Expense Ratio Comparison

INRG.L has a 0.65% expense ratio, which is higher than PMLP.L's 0.40% expense ratio.

Dividends

INRG.L vs. PMLP.L - Dividend Comparison

INRG.L's dividend yield for the trailing twelve months is around 0.91%, less than PMLP.L's 2.80% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
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%
PMLP.L HANetf Alerian Midstream Energy Dividend UCITS ETF	2.80%	3.31%	3.37%	6.48%	6.12%	6.58%	4.17%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both INRG.L and PMLP.L in my portfolio?

INRG.L and PMLP.L have a correlation of -0.11, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, INRG.L or PMLP.L?

On fees, PMLP.L is cheaper at 0.40% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, INRG.L or PMLP.L?

PMLP.L is cheaper with a 0.40% expense ratio, compared with 0.65% for INRG.L.

What is the main difference between INRG.L and PMLP.L?

INRG.L tracks S&P Global Clean Energy TR USD, while PMLP.L tracks MSCI World/Energy NR USD. They also come from different issuers: iShares and HANetf. Their fees differ too: 0.65% for INRG.L and 0.40% for PMLP.L.