IWQU.L vs. WNRG.L
IWQU.L (iShares Edge MSCI World Quality Factor UCITS ETF USD (Acc)) and WNRG.L (State Street SPDR MSCI World Energy UCITS ETF USD (Acc)) are both Global Equities funds - IWQU.L tracks the MSCI World Sector Neutral Quality Index while WNRG.L tracks the MSCI World Energy 35/20 Capped Index. Both are passively managed. Over the past 10 years, IWQU.L returned 12.34%/yr vs 8.80%/yr for WNRG.L. At a 0.46 correlation, their price movements are largely independent. IWQU.L charges 0.25%/yr vs 0.30%/yr for WNRG.L.
Performance
IWQU.L vs. WNRG.L - Performance Comparison
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Returns By Period
In the year-to-date period, IWQU.L achieves a 9.75% return, which is significantly lower than WNRG.L's 27.75% return. Over the past 10 years, IWQU.L has outperformed WNRG.L with an annualized return of 12.34%, while WNRG.L has yielded a comparatively lower 8.80% annualized return.
IWQU.L
- 1D
- -1.22%
- 1M
- 0.16%
- 6M
- 7.36%
- YTD
- 9.75%
- 1Y
- 19.74%
- 3Y*
- 16.65%
- 5Y*
- 9.98%
- 10Y*
- 12.34%
WNRG.L
- 1D
- 0.93%
- 1M
- 4.49%
- 6M
- 21.77%
- YTD
- 27.75%
- 1Y
- 37.39%
- 3Y*
- 16.24%
- 5Y*
- 20.55%
- 10Y*
- 8.80%
IWQU.L vs. WNRG.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
IWQU.L iShares Edge MSCI World Quality Factor UCITS ETF USD (Acc) | 9.75% | 15.28% | 17.17% | 25.90% | -19.26% | 23.70% | 14.95% | 29.64% | -7.53% | 23.57% |
WNRG.L State Street SPDR MSCI World Energy UCITS ETF USD (Acc) | 27.75% | 14.83% | 2.07% | 3.52% | 46.61% | 38.74% | -30.35% | 9.89% | -14.99% | 4.80% |
Correlation
The correlation between IWQU.L and WNRG.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 | 0.18 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.33 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.44 |
Correlation (All Time) Calculated using the full available price history since Oct 6, 2014 | 0.46 |
The correlation between IWQU.L and WNRG.L shifts across timeframes, from -0.11 (1 year) to 0.46 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
IWQU.L vs. WNRG.L — Risk / Return Rank
IWQU.L
WNRG.L
IWQU.L vs. WNRG.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Edge MSCI World Quality Factor UCITS ETF USD (Acc) (IWQU.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.
| IWQU.L | WNRG.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.12 | ||
| Sortino ratioReturn per unit of downside risk | +0.30 | ||
| Omega ratioGain probability vs. loss probability | 1.31 | 1.31 | -0.01 |
| Calmar ratioReturn relative to maximum drawdown | 2.30 | 2.33 | -0.03 |
| Martin ratioReturn relative to average drawdown | 9.49 | 6.70 | +2.79 |
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Drawdowns
IWQU.L vs. WNRG.L - Drawdown Comparison
The maximum IWQU.L drawdown since its inception was -33.05%, smaller than the maximum WNRG.L drawdown of -68.72%. Use the drawdown chart below to compare losses from any high point for IWQU.L and WNRG.L.
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Drawdown Indicators
| IWQU.L | WNRG.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -33.05% | -68.72% | +35.67% |
Max Drawdown (1Y)Largest decline over 1 year | -8.53% | -15.98% | +7.45% |
Max Drawdown (3Y)Largest decline over 3 years | -16.09% | -18.94% | +2.85% |
Max Drawdown (5Y)Largest decline over 5 years | -27.70% | -26.55% | -1.15% |
Max Drawdown (10Y)Largest decline over 10 years | -33.05% | -63.92% | +30.87% |
Current DrawdownCurrent decline from peak | -1.22% | -8.18% | +6.96% |
Average DrawdownAverage peak-to-trough decline | -4.55% | -17.54% | +12.99% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.08% | 5.57% | -3.49% |
Volatility
IWQU.L vs. WNRG.L - Volatility Comparison
The current volatility for iShares Edge MSCI World Quality Factor UCITS ETF USD (Acc) (IWQU.L) is 3.08%, while State Street SPDR MSCI World Energy UCITS ETF USD (Acc) (WNRG.L) has a volatility of 5.93%. This indicates that IWQU.L experiences smaller price fluctuations and is considered to be less risky than WNRG.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| IWQU.L | WNRG.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.08% | 5.93% | -2.85% |
Volatility (6M)Calculated over the trailing 6-month period | 9.38% | 17.83% | -8.45% |
Volatility (1Y)Calculated over the trailing 1-year period | 11.67% | 20.62% | -8.95% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 15.62% | 24.34% | -8.72% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.63% | 33.35% | -17.72% |
IWQU.L vs. WNRG.L - Expense Ratio Comparison
IWQU.L has a 0.25% expense ratio, which is lower than WNRG.L's 0.30% expense ratio.
Dividends
IWQU.L vs. WNRG.L - Dividend Comparison
Neither IWQU.L nor WNRG.L has paid dividends to shareholders.
Frequently Asked Questions
IWQU.L and WNRG.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.
On fees, IWQU.L is cheaper at 0.25% per year. The better choice depends on whether you care most about return, fees, risk, or income.
IWQU.L is cheaper with a 0.25% expense ratio, compared with 0.30% for WNRG.L.
IWQU.L tracks MSCI World Sector Neutral Quality Index, while WNRG.L tracks MSCI World Energy 35/20 Capped Index. They also come from different issuers: iShares and State Street. Their fees differ too: 0.25% for IWQU.L and 0.30% for WNRG.L.
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