IQCY.L vs. WNRG.L

Last updated Jul 18, 2026

IQCY.L (Lyxor MSCI Smart Cities ESG Filtered (DR) UCITS ETF - Acc) and WNRG.L (State Street SPDR MSCI World Energy UCITS ETF USD (Acc)) are both Global Equities funds - IQCY.L tracks the MSCI ACWI SMID NR USD while WNRG.L tracks the MSCI World Energy 35/20 Capped Index. Both are passively managed. Over the past 5 years, IQCY.L returned 45.43%/yr vs 21.10%/yr for WNRG.L. At a 0.22 correlation, their price movements are largely independent. IQCY.L charges 0.45%/yr vs 0.30%/yr for WNRG.L.

Performance

IQCY.L vs. WNRG.L - Performance Comparison

The chart below illustrates the hypothetical performance of a £10,000 investment in Lyxor MSCI Smart Cities ESG Filtered (DR) UCITS ETF - Acc (IQCY.L) and State Street SPDR MSCI World Energy UCITS ETF USD (Acc) (WNRG.L). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

IQCY.L is traded in GBP, while WNRG.L is traded in USD. To make them comparable, the WNRG.L values have been converted to GBP using the latest available exchange rates.

Returns By Period

In the year-to-date period, IQCY.L achieves a 18.91% return, which is significantly lower than WNRG.L's 27.93% return.

IQCY.L

• 1D: -1.47%
• 1M: -8.24%
• 6M: 14.34%
• YTD: 18.91%
• 1Y: 28.02%
• 3Y*: 85.18%
• 5Y*: 45.43%
• 10Y*: —

WNRG.L

• 1D: 1.10%
• 1M: 3.20%
• 6M: 21.06%
• YTD: 27.93%
• 1Y: 37.02%
• 3Y*: 15.03%
• 5Y*: 21.10%
• 10Y*: 8.51%

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

IQCY.L vs. WNRG.L - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
IQCY.L Lyxor MSCI Smart Cities ESG Filtered (DR) UCITS ETF - Acc	18.91%	14.11%	342.80%	17.80%	-16.95%	-13.77%	53.26%
WNRG.L State Street SPDR MSCI World Energy UCITS ETF USD (Acc)	27.93%	6.65%	3.85%	-1.65%	64.04%	40.05%	10.21%

Correlation

The correlation between IQCY.L and WNRG.L is -0.15, 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	-0.15
Correlation (3Y) Calculated over the trailing 3-year period	0.14
Correlation (5Y) Calculated over the trailing 5-year period	0.22
Correlation (All Time) Calculated using the full available price history since Apr 20, 2020	0.22

The correlation between IQCY.L and WNRG.L shifts across timeframes, from -0.15 (1 year) to 0.22 (all time), reflecting how their relationship changes across market environments.

Return for Risk

IQCY.L vs. WNRG.L — Risk / Return Rank

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

IQCY.L

IQCY.L Risk / Return Rank: 58
IQCY.L Sharpe Ratio Rank: 58
IQCY.L Sortino Ratio Rank: 56
IQCY.L Omega Ratio Rank: 56
IQCY.L Calmar Ratio Rank: 64
IQCY.L Martin Ratio Rank: 56

WNRG.L

WNRG.L Risk / Return Rank: 66
WNRG.L Sharpe Ratio Rank: 76
WNRG.L Sortino Ratio Rank: 66
WNRG.L Omega Ratio Rank: 71
WNRG.L Calmar Ratio Rank: 63
WNRG.L Martin Ratio Rank: 53

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.

IQCY.L vs. WNRG.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Lyxor MSCI Smart Cities ESG Filtered (DR) UCITS ETF - Acc (IQCY.L) and State Street SPDR MSCI World Energy UCITS ETF USD (Acc) (WNRG.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.

	IQCY.L	WNRG.L	Difference
Sharpe ratio: Return per unit of total volatility	1.51	1.71	-0.21
Sortino ratio: Return per unit of downside risk	2.11	2.19	-0.08
Omega ratio: Gain probability vs. loss probability	1.27	1.31	-0.04
Calmar ratio: Return relative to maximum drawdown	2.46	2.23	+0.23
Martin ratio: Return relative to average drawdown	7.50	5.81	+1.69

IQCY.L vs. WNRG.L - Sharpe Ratio Comparison

The current IQCY.L Sharpe Ratio is 1.51, which is comparable to the WNRG.L Sharpe Ratio of 1.71. The chart below compares the historical Sharpe Ratios of IQCY.L and WNRG.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

IQCY.L vs. WNRG.L - Drawdown Comparison

The maximum IQCY.L drawdown since its inception was -37.11%, smaller than the maximum WNRG.L drawdown of -59.34%. Use the drawdown chart below to compare losses from any high point for IQCY.L and WNRG.L.

Drawdown Indicators

	IQCY.L	WNRG.L	Difference
Max Drawdown Largest peak-to-trough decline	-37.11%	-59.34%	+22.23%
Max Drawdown (1Y) Largest decline over 1 year	-11.35%	-16.52%	+5.17%
Max Drawdown (3Y) Largest decline over 3 years	-21.98%	-21.66%	-0.32%
Max Drawdown (5Y) Largest decline over 5 years	-22.65%	-22.11%	-0.54%
Max Drawdown (10Y) Largest decline over 10 years	—	-59.34%	—
Current Drawdown Current decline from peak	-11.35%	-10.03%	-1.32%
Average Drawdown Average peak-to-trough decline	-17.14%	-12.66%	-4.48%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.73%	6.35%	-2.62%

Volatility

IQCY.L vs. WNRG.L - Volatility Comparison

Lyxor MSCI Smart Cities ESG Filtered (DR) UCITS ETF - Acc (IQCY.L) has a higher volatility of 8.44% compared to State Street SPDR MSCI World Energy UCITS ETF USD (Acc) (WNRG.L) at 6.42%. This indicates that IQCY.L's price experiences larger fluctuations and is considered to be riskier than WNRG.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	IQCY.L	WNRG.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	8.44%	6.42%	+2.02%
Volatility (6M) Calculated over the trailing 6-month period	15.93%	18.68%	-2.75%
Volatility (1Y) Calculated over the trailing 1-year period	18.64%	21.51%	-2.87%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	132.19%	23.88%	+108.31%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	158.13%	33.22%	+124.91%

IQCY.L vs. WNRG.L - Expense Ratio Comparison

IQCY.L has a 0.45% expense ratio, which is higher than WNRG.L's 0.30% expense ratio.

Dividends

IQCY.L vs. WNRG.L - Dividend Comparison

Neither IQCY.L nor WNRG.L has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both IQCY.L and WNRG.L in my portfolio?

IQCY.L and WNRG.L have a correlation of -0.15, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, IQCY.L or WNRG.L?

On fees, WNRG.L is cheaper at 0.30% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, IQCY.L or WNRG.L?

WNRG.L is cheaper with a 0.30% expense ratio, compared with 0.45% for IQCY.L.

What is the main difference between IQCY.L and WNRG.L?

IQCY.L tracks MSCI ACWI SMID NR USD, while WNRG.L tracks MSCI World Energy 35/20 Capped Index. They also come from different issuers: Amundi and State Street. Their fees differ too: 0.45% for IQCY.L and 0.30% for WNRG.L.