IUES.L vs. USPA.L
IUES.L (iShares S&P 500 Energy Sector UCITS ETF USD (Acc)) and USPA.L (Franklin S&P 500 Paris Aligned Climate UCITS ETF USD (Acc)) are both exchange-traded funds - IUES.L is a Energy Equities fund tracking the MSCI World/Energy NR USD, while USPA.L is a S&P 500 fund tracking the S&P 500 Net Zero 2050 Paris-Aligned ESG Index. Both are passively managed. Over the past 5 years, IUES.L returned 22.23%/yr vs 12.03%/yr for USPA.L. At a 0.24 correlation, their price movements are largely independent. IUES.L charges 0.15%/yr vs 0.07%/yr for USPA.L.
Performance
IUES.L vs. USPA.L - Performance Comparison
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Returns By Period
In the year-to-date period, IUES.L achieves a 28.42% return, which is significantly higher than USPA.L's 6.42% return.
IUES.L
- 1D
- 0.75%
- 1M
- 5.21%
- 6M
- 21.22%
- YTD
- 28.42%
- 1Y
- 36.37%
- 3Y*
- 14.53%
- 5Y*
- 22.23%
- 10Y*
- 8.75%
USPA.L
- 1D
- -0.92%
- 1M
- -0.37%
- 6M
- 6.70%
- YTD
- 6.42%
- 1Y
- 16.97%
- 3Y*
- 18.65%
- 5Y*
- 12.03%
- 10Y*
- —
IUES.L vs. USPA.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
IUES.L iShares S&P 500 Energy Sector UCITS ETF USD (Acc) | 28.42% | 9.91% | 3.87% | -0.66% | 63.84% | 51.95% | 4.82% |
USPA.L Franklin S&P 500 Paris Aligned Climate UCITS ETF USD (Acc) | 6.42% | 15.76% | 26.74% | 30.46% | -22.10% | 32.21% | 16.58% |
Correlation
The correlation between IUES.L and USPA.L is -0.21, 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 | -0.21 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.07 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.22 |
Correlation (All Time) Calculated using the full available price history since Jul 29, 2020 | 0.24 |
The correlation between IUES.L and USPA.L shifts across timeframes, from -0.21 (1 year) to 0.24 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
IUES.L vs. USPA.L — Risk / Return Rank
IUES.L
USPA.L
IUES.L vs. USPA.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 Franklin S&P 500 Paris Aligned Climate UCITS ETF USD (Acc) (USPA.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.
| IUES.L | USPA.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.22 | ||
| Sortino ratioReturn per unit of downside risk | -0.01 | ||
| Omega ratioGain probability vs. loss probability | 1.27 | 1.25 | +0.02 |
| Calmar ratioReturn relative to maximum drawdown | 2.22 | 1.60 | +0.62 |
| Martin ratioReturn relative to average drawdown | 5.67 | 6.04 | -0.37 |
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Drawdowns
IUES.L vs. USPA.L - Drawdown Comparison
The maximum IUES.L drawdown since its inception was -66.79%, which is greater than USPA.L's maximum drawdown of -27.78%. Use the drawdown chart below to compare losses from any high point for IUES.L and USPA.L.
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Drawdown Indicators
| IUES.L | USPA.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -66.79% | -27.78% | -39.01% |
Max Drawdown (1Y)Largest decline over 1 year | -16.33% | -10.58% | -5.75% |
Max Drawdown (3Y)Largest decline over 3 years | -20.90% | -18.86% | -2.04% |
Max Drawdown (5Y)Largest decline over 5 years | -27.98% | -27.78% | -0.20% |
Max Drawdown (10Y)Largest decline over 10 years | -66.79% | — | — |
Current DrawdownCurrent decline from peak | -8.88% | -1.85% | -7.03% |
Average DrawdownAverage peak-to-trough decline | -14.18% | -5.97% | -8.21% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 6.40% | 2.80% | +3.60% |
Volatility
IUES.L vs. USPA.L - Volatility Comparison
iShares S&P 500 Energy Sector UCITS ETF USD (Acc) (IUES.L) has a higher volatility of 6.91% compared to Franklin S&P 500 Paris Aligned Climate UCITS ETF USD (Acc) (USPA.L) at 3.49%. This indicates that IUES.L's price experiences larger fluctuations and is considered to be riskier than USPA.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| IUES.L | USPA.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.91% | 3.49% | +3.42% |
Volatility (6M)Calculated over the trailing 6-month period | 19.69% | 9.90% | +9.79% |
Volatility (1Y)Calculated over the trailing 1-year period | 22.76% | 12.31% | +10.45% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 26.74% | 16.63% | +10.11% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 28.53% | 16.48% | +12.05% |
IUES.L vs. USPA.L - Expense Ratio Comparison
IUES.L has a 0.15% expense ratio, which is higher than USPA.L's 0.07% expense ratio. However, 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. USPA.L - Dividend Comparison
Neither IUES.L nor USPA.L has paid dividends to shareholders.
Frequently Asked Questions
IUES.L and USPA.L have a correlation of -0.21, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, USPA.L is cheaper at 0.07% per year. The better choice depends on whether you care most about return, fees, risk, or income.
USPA.L is cheaper with a 0.07% expense ratio, compared with 0.15% for IUES.L.
IUES.L is categorized as Energy Equities, while USPA.L is S&P 500. IUES.L tracks MSCI World/Energy NR USD, while USPA.L tracks S&P 500 Net Zero 2050 Paris-Aligned ESG Index. They also come from different issuers: iShares and Franklin. Their fees differ too: 0.15% for IUES.L and 0.07% for USPA.L.
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