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IXC vs. ENGY.L
Performance
Return for Risk
Drawdowns
Volatility
Dividends

IXC vs. ENGY.L

Last updated Jun 4, 2026

IXC (iShares Global Energy ETF) and ENGY.L (SPDR® MSCI Europe Energy UCITS ETF) are both Energy Equities funds - IXC tracks the S&P Global Energy Sector Index while ENGY.L tracks the MSCI World/Energy NR USD. Both are passively managed. Over the past 10 years, IXC returned 10.29%/yr vs 11.90%/yr for ENGY.L. A 0.52 correlation means they provide meaningful diversification when combined. IXC charges 0.46%/yr vs 0.18%/yr for ENGY.L.

Performance

IXC vs. ENGY.L - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares Global Energy ETF (IXC) and SPDR® MSCI Europe Energy UCITS ETF (ENGY.L). The values are adjusted to include any dividend payments, if applicable.

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Different Trading Currencies

IXC is traded in USD, while ENGY.L is traded in EUR. To make them comparable, the ENGY.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 ENGY.L's 34.37% return. Over the past 10 years, IXC has underperformed ENGY.L with an annualized return of 10.29%, while ENGY.L has yielded a comparatively higher 11.90% annualized 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%

ENGY.L

1D
1.71%
1M
-1.83%
YTD
34.37%
6M
31.63%
1Y
56.76%
3Y*
21.02%
5Y*
19.07%
10Y*
11.90%
*Multi-year figures are annualized to reflect compound growth (CAGR)

IXC vs. ENGY.L - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
IXC
iShares Global Energy ETF		32.22%13.98%1.95%3.92%48.51%40.88%-31.00%12.67%-14.85%5.54%
ENGY.L
SPDR® MSCI Europe Energy UCITS ETF		34.37%29.76%-10.93%11.02%30.44%26.98%-25.47%10.18%-5.86%18.67%

Correlation

The correlation between IXC and ENGY.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

0.63

Correlation (5Y)
Calculated over the trailing 5-year period

0.67

Correlation (10Y)
Calculated over the trailing 10-year period

0.57

Correlation (All Time)
Calculated using the full available price history since Feb 19, 2015

0.52

The correlation between IXC and ENGY.L shifts across timeframes, from 0.52 (all time) to 0.68 (1 year), reflecting how their relationship changes across market environments.

IXC vs. ENGY.L - Sectors Allocation Comparison

Sectors
IXC
ENGY.L

Energy

100.0%
99.1%

Basic Materials

-

0.0%

Communication Services

-

0.7%

Consumer Cyclical

-

0.0%

Consumer Defensive

-

0.0%

Financial Services

-

0.0%

Healthcare

-

0.0%

Industrials

-

0.0%

Real Estate

-

0.0%

Technology

-

0.0%

Utilities

-

0.0%

Energy

IXC
100.0%
ENGY.L
99.1%

Basic Materials

IXC

-

ENGY.L
0.0%

Communication Services

IXC

-

ENGY.L
0.7%

Consumer Cyclical

IXC

-

ENGY.L
0.0%

Consumer Defensive

IXC

-

ENGY.L
0.0%

Financial Services

IXC

-

ENGY.L
0.0%

Healthcare

IXC

-

ENGY.L
0.0%

Industrials

IXC

-

ENGY.L
0.0%

Real Estate

IXC

-

ENGY.L
0.0%

Technology

IXC

-

ENGY.L
0.0%

Utilities

IXC

-

ENGY.L
0.0%

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

iShares Global Energy ETF

SPDR® MSCI Europe Energy UCITS ETF

Often compared with IXC:
IXC vs. XLEIXC vs. VDEIXC vs. IYEIXC vs. OIHIXC vs. IUES.LIXC vs. XDW0.DEIXC vs. DDM
Often compared with ENGY.L:
ENGY.L vs. ENGW.LENGY.L vs. SWRD.LENGY.L vs. VTENGY.L vs. VAGP.LENGY.L vs. CSKR.LENGY.L vs. SMHENGY.L vs. QTOP

Return for Risk

IXC vs. ENGY.L — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
IXC
IXC Risk / Return Rank: 7676
Overall Rank
IXC Sharpe Ratio Rank: 7878
Sharpe Ratio Rank
IXC Sortino Ratio Rank: 7070
Sortino Ratio Rank
IXC Omega Ratio Rank: 6868
Omega Ratio Rank
IXC Calmar Ratio Rank: 8787
Calmar Ratio Rank
IXC Martin Ratio Rank: 7777
Martin Ratio Rank
ENGY.L
ENGY.L Risk / Return Rank: 7373
Overall Rank
ENGY.L Sharpe Ratio Rank: 7373
Sharpe Ratio Rank
ENGY.L Sortino Ratio Rank: 6161
Sortino Ratio Rank
ENGY.L Omega Ratio Rank: 6969
Omega Ratio Rank
ENGY.L Calmar Ratio Rank: 8484
Calmar Ratio Rank
ENGY.L Martin Ratio Rank: 7676
Martin Ratio Rank
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.

IXC vs. ENGY.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 (ENGY.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.

IXCENGY.LDifference
Sharpe ratioReturn per unit of total volatility
2.58
2.52

+0.06

Sortino ratioReturn per unit of downside risk
3.25
3.06

+0.19

Omega ratioGain probability vs. loss probability

1.42

1.43

-0.01

Calmar ratioReturn relative to maximum drawdown

5.00

5.58

-0.58

Martin ratioReturn relative to average drawdown

15.10

18.21

-3.12

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

IXC vs. ENGY.L - Sharpe Ratio Comparison

The current IXC Sharpe Ratio is 2.58, which is comparable to the ENGY.L Sharpe Ratio of 2.52. The chart below compares the historical Sharpe Ratios of IXC and ENGY.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.

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Sharpe Ratios by Period

IXCENGY.LDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

2.58

2.52

+0.06

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.84

0.79

+0.05

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.38

0.54

-0.15

Sharpe Ratio (All Time)

Calculated using the full available price history

0.32

0.43

-0.11

Drawdowns

IXC vs. ENGY.L - Drawdown Comparison

The maximum IXC drawdown since its inception was -67.88%, which is greater than ENGY.L's maximum drawdown of -61.34%. Use the drawdown chart below to compare losses from any high point for IXC and ENGY.L.

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Drawdown Indicators

IXCENGY.LDifference

Max Drawdown

Largest peak-to-trough decline

-67.88%

-61.34%

-6.54%

Max Drawdown (1Y)

Largest decline over 1 year

-9.66%

-10.12%

+0.46%

Max Drawdown (3Y)

Largest decline over 3 years

-19.06%

-24.38%

+5.32%

Max Drawdown (5Y)

Largest decline over 5 years

-24.93%

-24.41%

-0.52%

Max Drawdown (10Y)

Largest decline over 10 years

-64.16%

-61.34%

-2.82%

Current Drawdown

Current decline from peak

-4.84%

-5.03%

+0.19%

Average Drawdown

Average peak-to-trough decline

-17.48%

-12.71%

-4.77%

Ulcer Index

Depth and duration of drawdowns from previous peaks

3.20%

3.11%

+0.09%

Volatility

IXC vs. ENGY.L - Volatility Comparison

iShares Global Energy ETF (IXC) and SPDR® MSCI Europe Energy UCITS ETF (ENGY.L) have volatilities of 7.50% and 7.89%, 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.

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Volatility by Period

IXCENGY.LDifference

Volatility (1M)

Calculated over the trailing 1-month period

7.50%

7.89%

-0.39%

Volatility (6M)

Calculated over the trailing 6-month period

15.42%

18.97%

-3.55%

Volatility (1Y)

Calculated over the trailing 1-year period

18.75%

22.37%

-3.62%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

23.50%

25.85%

-2.35%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

26.85%

30.93%

-4.08%

IXC vs. ENGY.L - Expense Ratio Comparison

IXC has a 0.46% expense ratio, which is higher than ENGY.L's 0.18% expense ratio.

Dividends

IXC vs. ENGY.L - Dividend Comparison

IXC's dividend yield for the trailing twelve months is around 2.79%, while ENGY.L has not paid dividends to shareholders.

PositionTTM20252024202320222021202020192018201720162015
ENGY.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 ENGY.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, ENGY.L is cheaper at 0.18% per year. The better choice depends on whether you care most about return, fees, risk, or income.

ENGY.L is cheaper with a 0.18% expense ratio, compared with 0.46% for IXC.

IXC tracks S&P Global Energy Sector Index, while ENGY.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 ENGY.L.

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