MVOL.L vs. WNRG.L
MVOL.L (iShares Edge MSCI World Minimum Volatility UCITS) and WNRG.L (State Street SPDR MSCI World Energy UCITS ETF USD (Acc)) are both Global Equities funds - MVOL.L tracks the MSCI ACWI NR USD while WNRG.L tracks the MSCI World Energy 35/20 Capped Index. Both are passively managed. Over the past 10 years, MVOL.L returned 6.83%/yr vs 8.80%/yr for WNRG.L. At a 0.40 correlation, their price movements are largely independent. MVOL.L charges 0.35%/yr vs 0.30%/yr for WNRG.L.
Performance
MVOL.L vs. WNRG.L - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, MVOL.L achieves a 2.60% return, which is significantly lower than WNRG.L's 27.75% return. Over the past 10 years, MVOL.L has underperformed WNRG.L with an annualized return of 6.83%, while WNRG.L has yielded a comparatively higher 8.80% annualized return.
MVOL.L
- 1D
- 0.65%
- 1M
- 1.99%
- 6M
- 2.88%
- YTD
- 2.60%
- 1Y
- 4.67%
- 3Y*
- 9.17%
- 5Y*
- 5.10%
- 10Y*
- 6.83%
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%
MVOL.L vs. WNRG.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
MVOL.L iShares Edge MSCI World Minimum Volatility UCITS | 2.60% | 11.02% | 11.08% | 7.28% | -9.62% | 14.65% | 2.56% | 22.56% | -2.40% | 17.39% |
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 MVOL.L and WNRG.L is 0.08, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.08 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.23 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.30 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.38 |
Correlation (All Time) Calculated using the full available price history since Nov 30, 2012 | 0.40 |
Over the past year, the correlation between MVOL.L and WNRG.L has dropped to 0.08 - well below their long-term average of 0.40, suggesting their price drivers have been diverging.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
MVOL.L vs. WNRG.L — Risk / Return Rank
MVOL.L
WNRG.L
MVOL.L vs. WNRG.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Edge MSCI World Minimum Volatility UCITS (MVOL.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.
| MVOL.L | WNRG.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.21 | ||
| Sortino ratioReturn per unit of downside risk | -1.44 | ||
| Omega ratioGain probability vs. loss probability | 1.11 | 1.31 | -0.20 |
| Calmar ratioReturn relative to maximum drawdown | 0.81 | 2.33 | -1.52 |
| Martin ratioReturn relative to average drawdown | 1.76 | 6.70 | -4.94 |
Loading charts...
Drawdowns
MVOL.L vs. WNRG.L - Drawdown Comparison
The maximum MVOL.L drawdown since its inception was -28.82%, smaller than the maximum WNRG.L drawdown of -68.72%. Use the drawdown chart below to compare losses from any high point for MVOL.L and WNRG.L.
Loading charts...
Drawdown Indicators
| MVOL.L | WNRG.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -28.82% | -68.72% | +39.90% |
Max Drawdown (1Y)Largest decline over 1 year | -5.78% | -15.98% | +10.20% |
Max Drawdown (3Y)Largest decline over 3 years | -8.15% | -18.94% | +10.79% |
Max Drawdown (5Y)Largest decline over 5 years | -18.52% | -26.55% | +8.03% |
Max Drawdown (10Y)Largest decline over 10 years | -28.82% | -63.92% | +35.10% |
Current DrawdownCurrent decline from peak | -2.01% | -8.18% | +6.17% |
Average DrawdownAverage peak-to-trough decline | -3.30% | -17.54% | +14.24% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.65% | 5.57% | -2.92% |
Volatility
MVOL.L vs. WNRG.L - Volatility Comparison
The current volatility for iShares Edge MSCI World Minimum Volatility UCITS (MVOL.L) is 2.29%, while State Street SPDR MSCI World Energy UCITS ETF USD (Acc) (WNRG.L) has a volatility of 5.93%. This indicates that MVOL.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.
Loading charts...
Volatility by Period
| MVOL.L | WNRG.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.29% | 5.93% | -3.64% |
Volatility (6M)Calculated over the trailing 6-month period | 6.07% | 17.83% | -11.76% |
Volatility (1Y)Calculated over the trailing 1-year period | 7.87% | 20.62% | -12.75% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 10.67% | 24.34% | -13.67% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 11.62% | 33.35% | -21.73% |
MVOL.L vs. WNRG.L - Expense Ratio Comparison
MVOL.L has a 0.35% expense ratio, which is higher than WNRG.L's 0.30% expense ratio.
Dividends
MVOL.L vs. WNRG.L - Dividend Comparison
Neither MVOL.L nor WNRG.L has paid dividends to shareholders.
Frequently Asked Questions
MVOL.L and WNRG.L have a correlation of 0.08, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, WNRG.L is cheaper at 0.30% per year. The better choice depends on whether you care most about return, fees, risk, or income.
WNRG.L is cheaper with a 0.30% expense ratio, compared with 0.35% for MVOL.L.
MVOL.L tracks MSCI ACWI NR USD, 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: 0.35% for MVOL.L and 0.30% for WNRG.L.
Find the right allocation for MVOL.L and WNRG.L
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer