IUES.L vs. CWEU.L

Last updated Jun 5, 2026

IUES.L (iShares S&P 500 Energy Sector UCITS ETF USD (Acc)) and CWEU.L (Amundi MSCI World Energy UCITS ETF-C USD) are both Energy Equities funds tracking the MSCI World/Energy NR USD, from iShares and Amundi respectively. Both are passively managed. Over the past 3 years, IUES.L returned 16.84%/yr vs 11.70%/yr for CWEU.L. At a 0.30 correlation, their price movements are largely independent. IUES.L charges 0.15%/yr vs 0.25%/yr for CWEU.L.

Performance

IUES.L vs. CWEU.L - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares S&P 500 Energy Sector UCITS ETF USD (Acc) (IUES.L) and Amundi MSCI World Energy UCITS ETF-C USD (CWEU.L). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both investments are quite close, with IUES.L having a 30.45% return and CWEU.L slightly higher at 30.88%.

IUES.L

• 1D: -0.36%
• 1M: -1.09%
• YTD: 30.45%
• 6M: 29.22%
• 1Y: 46.28%
• 3Y*: 16.84%
• 5Y*: 20.33%
• 10Y*: 9.21%

CWEU.L

• 1D: -1.33%
• 1M: -1.86%
• YTD: 30.88%
• 6M: 30.34%
• 1Y: 55.06%
• 3Y*: 11.70%
• 5Y*: —
• 10Y*: —

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

IUES.L vs. CWEU.L - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
IUES.L iShares S&P 500 Energy Sector UCITS ETF USD (Acc)	30.45%	9.82%	3.87%	-0.63%	63.84%	13.18%
CWEU.L Amundi MSCI World Energy UCITS ETF-C USD	30.88%	26.39%	-20.71%	2.18%	45.18%	9.29%

Correlation

The correlation between IUES.L and CWEU.L is 0.59, 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	0.59
Correlation (3Y) Calculated over the trailing 3-year period	0.35
Correlation (5Y) Calculated over the trailing 5-year period	0.31
Correlation (All Time) Calculated using the full available price history since May 5, 2021	0.30

Over the past year, IUES.L and CWEU.L have become more correlated (0.59) than their long-term average of 0.30, meaning their price movements have been converging.

IUES.L vs. CWEU.L - Sectors Allocation Comparison

Sectors	IUES.L	CWEU.L
Energy	100.0%	48.3%
Basic Materials	-	17.7%
Communication Services	-	-
Consumer Cyclical	-	-
Consumer Defensive	-	12.8%
Financial Services	-	-
Healthcare	-	-
Industrials	-	14.0%
Real Estate	-	-
Technology	-	0.4%
Utilities	-	6.8%

Return for Risk

IUES.L vs. CWEU.L — Risk / Return Rank

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

IUES.L

IUES.L Risk / Return Rank: 60
IUES.L Sharpe Ratio Rank: 65
IUES.L Sortino Ratio Rank: 56
IUES.L Omega Ratio Rank: 59
IUES.L Calmar Ratio Rank: 65
IUES.L Martin Ratio Rank: 57

CWEU.L

CWEU.L Risk / Return Rank: 93
CWEU.L Sharpe Ratio Rank: 92
CWEU.L Sortino Ratio Rank: 92
CWEU.L Omega Ratio Rank: 89
CWEU.L Calmar Ratio Rank: 95
CWEU.L Martin Ratio Rank: 94

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.

IUES.L vs. CWEU.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) (IUES.L) and Amundi MSCI World Energy UCITS ETF-C USD (CWEU.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.

	IUES.L	CWEU.L	Difference
Sharpe ratio: Return per unit of total volatility	2.12	3.26	-1.14
Sortino ratio: Return per unit of downside risk	2.64	4.45	-1.81
Omega ratio: Gain probability vs. loss probability	1.35	1.55	-0.20
Calmar ratio: Return relative to maximum drawdown	3.18	8.35	-5.18
Martin ratio: Return relative to average drawdown	9.97	27.38	-17.41
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

IUES.L vs. CWEU.L - Sharpe Ratio Comparison

The current IUES.L Sharpe Ratio is 2.12, which is lower than the CWEU.L Sharpe Ratio of 3.26. The chart below compares the historical Sharpe Ratios of IUES.L and CWEU.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.

Sharpe Ratios by Period

	IUES.L	CWEU.L	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.12	3.26	-1.14
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.76	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.32	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.31	1.22	-0.91

Drawdowns

IUES.L vs. CWEU.L - Drawdown Comparison

The maximum IUES.L drawdown since its inception was -66.78%, which is greater than CWEU.L's maximum drawdown of -29.78%. Use the drawdown chart below to compare losses from any high point for IUES.L and CWEU.L.

Drawdown Indicators

	IUES.L	CWEU.L	Difference
Max Drawdown Largest peak-to-trough decline	-66.78%	-29.78%	-37.00%
Max Drawdown (1Y) Largest decline over 1 year	-14.49%	-6.56%	-7.93%
Max Drawdown (3Y) Largest decline over 3 years	-20.90%	-27.62%	+6.72%
Max Drawdown (5Y) Largest decline over 5 years	-27.98%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-66.78%	—	—
Current Drawdown Current decline from peak	-7.45%	-1.86%	-5.59%
Average Drawdown Average peak-to-trough decline	-14.21%	-8.51%	-5.70%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.63%	2.01%	+2.62%

Volatility

IUES.L vs. CWEU.L - Volatility Comparison

iShares S&P 500 Energy Sector UCITS ETF USD (Acc) (IUES.L) has a higher volatility of 8.13% compared to Amundi MSCI World Energy UCITS ETF-C USD (CWEU.L) at 5.96%. This indicates that IUES.L's price experiences larger fluctuations and is considered to be riskier than CWEU.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	IUES.L	CWEU.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	8.13%	5.96%	+2.17%
Volatility (6M) Calculated over the trailing 6-month period	18.58%	12.82%	+5.76%
Volatility (1Y) Calculated over the trailing 1-year period	21.81%	16.80%	+5.01%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	26.72%	35.73%	-9.01%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	28.49%	35.73%	-7.24%

IUES.L vs. CWEU.L - Expense Ratio Comparison

IUES.L has a 0.15% expense ratio, which is lower than CWEU.L's 0.25% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

IUES.L vs. CWEU.L - Dividend Comparison

Neither IUES.L nor CWEU.L has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both IUES.L and CWEU.L in my portfolio?

IUES.L and CWEU.L have a correlation of 0.59, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, IUES.L or CWEU.L?

On fees, IUES.L is cheaper at 0.15% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, IUES.L or CWEU.L?

IUES.L is cheaper with a 0.15% expense ratio, compared with 0.25% for CWEU.L.

What is the main difference between IUES.L and CWEU.L?

Both ETFs track MSCI World/Energy NR USD. They also come from different issuers: iShares and Amundi. Their fees differ too: 0.15% for IUES.L and 0.25% for CWEU.L.