IUES.L vs. SXLE.L

Last updated Jun 5, 2026

IUES.L (iShares S&P 500 Energy Sector UCITS ETF USD (Acc)) and SXLE.L (State Street SPDR S&P U.S. Energy Select Sector UCITS ETF) are both Energy Equities funds - IUES.L tracks the MSCI World/Energy NR USD while SXLE.L tracks the S&P Energy Select Sector Daily Capped 35/20 Index. Both are passively managed. Over the past 10 years, IUES.L returned 9.21%/yr vs 9.59%/yr for SXLE.L. With a 0.99 correlation, they move nearly in lockstep. Both charge a 0.15% expense ratio.

Performance

IUES.L vs. SXLE.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 State Street SPDR S&P U.S. Energy Select Sector UCITS ETF (SXLE.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 SXLE.L slightly higher at 30.51%. Both investments have delivered pretty close results over the past 10 years, with IUES.L having a 9.21% annualized return and SXLE.L not far ahead at 9.59%.

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%

SXLE.L

• 1D: -0.28%
• 1M: -1.01%
• YTD: 30.51%
• 6M: 29.43%
• 1Y: 46.36%
• 3Y*: 17.26%
• 5Y*: 20.21%
• 10Y*: 9.59%

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

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

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
IUES.L iShares S&P 500 Energy Sector UCITS ETF USD (Acc)	30.45%	9.82%	3.87%	-0.63%	63.84%	51.95%	-33.35%	8.81%	-18.12%	-1.19%
SXLE.L State Street SPDR S&P U.S. Energy Select Sector UCITS ETF	30.51%	9.74%	3.75%	0.62%	62.75%	50.77%	-31.89%	9.19%	-18.13%	-1.18%

Correlation

The correlation between IUES.L and SXLE.L is 1.00 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	1.00
Correlation (3Y) Calculated over the trailing 3-year period	0.99
Correlation (5Y) Calculated over the trailing 5-year period	0.99
Correlation (10Y) Calculated over the trailing 10-year period	0.99
Correlation (All Time) Calculated using the full available price history since Nov 25, 2015	0.99

The correlation between IUES.L and SXLE.L has been stable across timeframes, ranging from 0.99 to 1.00 - a consistent structural relationship.

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

Sectors	IUES.L	SXLE.L
Energy	100.0%	100.0%
Basic Materials	-	-
Communication Services	-	-
Consumer Cyclical	-	-
Consumer Defensive	-	-
Financial Services	-	-
Healthcare	-	-
Industrials	-	-
Real Estate	-	-
Technology	-	-
Utilities	-	-

Return for Risk

IUES.L vs. SXLE.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

SXLE.L

SXLE.L Risk / Return Rank: 60
SXLE.L Sharpe Ratio Rank: 64
SXLE.L Sortino Ratio Rank: 56
SXLE.L Omega Ratio Rank: 58
SXLE.L Calmar Ratio Rank: 65
SXLE.L Martin Ratio Rank: 57

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. SXLE.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 State Street SPDR S&P U.S. Energy Select Sector UCITS ETF (SXLE.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	SXLE.L	Difference
Sharpe ratio: Return per unit of total volatility	2.12	2.12	0.00
Sortino ratio: Return per unit of downside risk	2.64	2.64	0.00
Omega ratio: Gain probability vs. loss probability	1.35	1.35	0.00
Calmar ratio: Return relative to maximum drawdown	3.18	3.17	+0.01
Martin ratio: Return relative to average drawdown	9.97	9.94	+0.02
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. SXLE.L - Sharpe Ratio Comparison

The current IUES.L Sharpe Ratio is 2.12, which is comparable to the SXLE.L Sharpe Ratio of 2.12. The chart below compares the historical Sharpe Ratios of IUES.L and SXLE.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	SXLE.L	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.12	2.12	0.00
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.76	0.76	0.00
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.32	0.33	-0.01
Sharpe Ratio (All Time) Calculated using the full available price history	0.31	0.35	-0.03

Drawdowns

IUES.L vs. SXLE.L - Drawdown Comparison

The maximum IUES.L drawdown since its inception was -66.78%, roughly equal to the maximum SXLE.L drawdown of -66.60%. Use the drawdown chart below to compare losses from any high point for IUES.L and SXLE.L.

Drawdown Indicators

	IUES.L	SXLE.L	Difference
Max Drawdown Largest peak-to-trough decline	-66.78%	-66.60%	-0.18%
Max Drawdown (1Y) Largest decline over 1 year	-14.49%	-14.55%	+0.06%
Max Drawdown (3Y) Largest decline over 3 years	-20.90%	-20.90%	0.00%
Max Drawdown (5Y) Largest decline over 5 years	-27.98%	-27.87%	-0.11%
Max Drawdown (10Y) Largest decline over 10 years	-66.78%	-66.60%	-0.18%
Current Drawdown Current decline from peak	-7.45%	-7.44%	-0.01%
Average Drawdown Average peak-to-trough decline	-14.21%	-13.96%	-0.25%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.63%	4.65%	-0.02%

Volatility

IUES.L vs. SXLE.L - Volatility Comparison

iShares S&P 500 Energy Sector UCITS ETF USD (Acc) (IUES.L) and State Street SPDR S&P U.S. Energy Select Sector UCITS ETF (SXLE.L) have volatilities of 8.13% and 8.15%, 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.

Volatility by Period

	IUES.L	SXLE.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	8.13%	8.15%	-0.02%
Volatility (6M) Calculated over the trailing 6-month period	18.58%	18.52%	+0.06%
Volatility (1Y) Calculated over the trailing 1-year period	21.81%	21.87%	-0.06%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	26.72%	26.65%	+0.07%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	28.49%	28.66%	-0.17%

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

Both IUES.L and SXLE.L have an expense ratio of 0.15%, making them cost-effective options compared to the broader market, where average expense ratios typically range from 0.3% to 0.9%.

Dividends

IUES.L vs. SXLE.L - Dividend Comparison

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

Tickers have no history of dividend payments

Frequently Asked Questions

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

With a correlation of 1.00, IUES.L and SXLE.L move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

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

Both ETFs have the same 0.15% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.

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

IUES.L and SXLE.L have the same expense ratio: 0.15% per year.

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

IUES.L tracks MSCI World/Energy NR USD, while SXLE.L tracks S&P Energy Select Sector Daily Capped 35/20 Index. They also come from different issuers: iShares and State Street.