IXC vs. ENGE.L
IXC (iShares Global Energy ETF) and ENGE.L (SPDR MSCI Europe Energy UCITS ETF) are both Energy Equities funds - IXC tracks the S&P Global Energy Sector Index while ENGE.L tracks the MSCI World/Energy NR USD. Both are passively managed. Over the past 3 years, IXC returned 18.84%/yr vs 21.00%/yr for ENGE.L. A 0.68 correlation means they provide meaningful diversification when combined. IXC charges 0.46%/yr vs 0.18%/yr for ENGE.L.
Performance
IXC vs. ENGE.L - Performance Comparison
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Different Trading Currencies
IXC is traded in USD, while ENGE.L is traded in GBP. To make them comparable, the ENGE.L values have been converted to USD using the latest available exchange rates.
Returns By Period
In the year-to-date period, IXC achieves a 32.22% return, which is significantly lower than ENGE.L's 34.21% return.
IXC
- 1D
- 0.87%
- 1M
- -1.75%
- YTD
- 32.22%
- 6M
- 30.00%
- 1Y
- 48.10%
- 3Y*
- 18.84%
- 5Y*
- 19.64%
- 10Y*
- 10.29%
ENGE.L
- 1D
- 1.69%
- 1M
- -1.85%
- YTD
- 34.21%
- 6M
- 31.56%
- 1Y
- 56.68%
- 3Y*
- 21.00%
- 5Y*
- —
- 10Y*
- —
IXC vs. ENGE.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
IXC iShares Global Energy ETF | 32.22% | 13.98% | 1.95% | 3.92% | 11.50% |
ENGE.L SPDR MSCI Europe Energy UCITS ETF | 34.21% | 29.19% | -10.70% | 11.50% | 11.78% |
Correlation
The correlation between IXC and ENGE.L is 0.68, 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 | 0.68 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.67 |
Correlation (All Time) Calculated using the full available price history since Apr 5, 2022 | 0.68 |
The correlation between IXC and ENGE.L has been stable across timeframes, ranging from 0.67 to 0.68 - a consistent structural relationship.
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Return for Risk
IXC vs. ENGE.L — Risk / Return Rank
IXC
ENGE.L
IXC vs. ENGE.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Global Energy ETF (IXC) and SPDR MSCI Europe Energy UCITS ETF (ENGE.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.
| IXC | ENGE.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.05 | ||
| Sortino ratioReturn per unit of downside risk | +0.16 | ||
| Omega ratioGain probability vs. loss probability | 1.42 | 1.42 | 0.00 |
| Calmar ratioReturn relative to maximum drawdown | 5.00 | 5.75 | -0.75 |
| Martin ratioReturn relative to average drawdown | 15.10 | 18.39 | -3.29 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| IXC | ENGE.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.58 | 2.53 | +0.05 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.84 | — | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.38 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.32 | 0.70 | -0.38 |
Drawdowns
IXC vs. ENGE.L - Drawdown Comparison
The maximum IXC drawdown since its inception was -67.88%, which is greater than ENGE.L's maximum drawdown of -24.19%. Use the drawdown chart below to compare losses from any high point for IXC and ENGE.L.
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Drawdown Indicators
| IXC | ENGE.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -67.88% | -24.19% | -43.69% |
Max Drawdown (1Y)Largest decline over 1 year | -9.66% | -9.81% | +0.15% |
Max Drawdown (3Y)Largest decline over 3 years | -19.06% | -23.33% | +4.27% |
Max Drawdown (5Y)Largest decline over 5 years | -24.93% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -64.16% | — | — |
Current DrawdownCurrent decline from peak | -4.84% | -5.04% | +0.20% |
Average DrawdownAverage peak-to-trough decline | -17.48% | -6.42% | -11.06% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.20% | 3.07% | +0.13% |
Volatility
IXC vs. ENGE.L - Volatility Comparison
The current volatility for iShares Global Energy ETF (IXC) is 7.50%, while SPDR MSCI Europe Energy UCITS ETF (ENGE.L) has a volatility of 8.18%. This indicates that IXC experiences smaller price fluctuations and is considered to be less risky than ENGE.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| IXC | ENGE.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.50% | 8.18% | -0.68% |
Volatility (6M)Calculated over the trailing 6-month period | 15.42% | 19.04% | -3.62% |
Volatility (1Y)Calculated over the trailing 1-year period | 18.75% | 22.30% | -3.55% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 23.50% | 24.32% | -0.82% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 26.85% | 24.32% | +2.53% |
IXC vs. ENGE.L - Expense Ratio Comparison
IXC has a 0.46% expense ratio, which is higher than ENGE.L's 0.18% expense ratio.
Dividends
IXC vs. ENGE.L - Dividend Comparison
IXC's dividend yield for the trailing twelve months is around 2.79%, while ENGE.L has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
ENGE.L SPDR MSCI Europe Energy UCITS ETF | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
IXC iShares Global Energy ETF | 2.79% | 3.68% | 4.56% | 3.45% | 4.76% | 3.98% | 4.86% | 7.00% | 3.51% | 3.05% | 2.86% | 3.77% |
Frequently Asked Questions
IXC and ENGE.L have a correlation of 0.68, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, ENGE.L is cheaper at 0.18% per year. The better choice depends on whether you care most about return, fees, risk, or income.
ENGE.L is cheaper with a 0.18% expense ratio, compared with 0.46% for IXC.
IXC tracks S&P Global Energy Sector Index, while ENGE.L tracks MSCI World/Energy NR USD. They also come from different issuers: iShares and State Street. Their fees differ too: 0.46% for IXC and 0.18% for ENGE.L.
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