PHPP.L vs. ENGW.L

Last updated Jun 5, 2026

PHPP.L (WisdomTree Physical Precious Metals) and ENGW.L (SPDR MSCI World Energy UCITS ETF) are both exchange-traded funds - PHPP.L is a Precious Metals fund tracking the Precious Metals Basket, while ENGW.L is a Energy Equities fund tracking the MSCI World/Energy NR USD. Both are passively managed. Over the past 3 years, PHPP.L returned 25.31%/yr vs 15.70%/yr for ENGW.L. At a 0.12 correlation, their price movements are largely independent. PHPP.L charges 0.44%/yr vs 0.30%/yr for ENGW.L.

Performance

PHPP.L vs. ENGW.L - Performance Comparison

The chart below illustrates the hypothetical performance of a £10,000 investment in WisdomTree Physical Precious Metals (PHPP.L) and SPDR MSCI World Energy UCITS ETF (ENGW.L). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

PHPP.L is traded in GBp, while ENGW.L is traded in GBP. To make them comparable, the ENGW.L values have been converted to GBp using the latest available exchange rates.

Returns By Period

In the year-to-date period, PHPP.L achieves a 0.99% return, which is significantly lower than ENGW.L's 30.79% return.

PHPP.L

• 1D: 0.37%
• 1M: -1.92%
• YTD: 0.99%
• 6M: 9.62%
• 1Y: 51.59%
• 3Y*: 25.31%
• 5Y*: 12.75%
• 10Y*: 13.52%

ENGW.L

• 1D: -0.52%
• 1M: -0.82%
• YTD: 30.79%
• 6M: 28.06%
• 1Y: 48.84%
• 3Y*: 15.70%
• 5Y*: —
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

PHPP.L vs. ENGW.L - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
PHPP.L WisdomTree Physical Precious Metals	0.99%	72.45%	17.27%	-8.55%	-1.13%
ENGW.L SPDR MSCI World Energy UCITS ETF	30.79%	7.20%	3.55%	-2.06%	20.65%

Correlation

The correlation between PHPP.L and ENGW.L is -0.04, 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	-0.04
Correlation (3Y) Calculated over the trailing 3-year period	0.10
Correlation (All Time) Calculated using the full available price history since Apr 5, 2022	0.12

The correlation between PHPP.L and ENGW.L shifts across timeframes, from -0.04 (1 year) to 0.12 (all time), reflecting how their relationship changes across market environments.

Return for Risk

PHPP.L vs. ENGW.L — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

PHPP.L

PHPP.L Risk / Return Rank: 42
PHPP.L Sharpe Ratio Rank: 47
PHPP.L Sortino Ratio Rank: 40
PHPP.L Omega Ratio Rank: 48
PHPP.L Calmar Ratio Rank: 43
PHPP.L Martin Ratio Rank: 34

ENGW.L

ENGW.L Risk / Return Rank: 66
ENGW.L Sharpe Ratio Rank: 72
ENGW.L Sortino Ratio Rank: 59
ENGW.L Omega Ratio Rank: 70
ENGW.L Calmar Ratio Rank: 68
ENGW.L Martin Ratio Rank: 62

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.

PHPP.L vs. ENGW.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for WisdomTree Physical Precious Metals (PHPP.L) and SPDR MSCI World Energy UCITS ETF (ENGW.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.

	PHPP.L	ENGW.L	Difference
Sharpe ratio: Return per unit of total volatility	1.61	2.30	-0.69
Sortino ratio: Return per unit of downside risk	2.02	2.76	-0.75
Omega ratio: Gain probability vs. loss probability	1.30	1.41	-0.11
Calmar ratio: Return relative to maximum drawdown	2.11	3.34	-1.23
Martin ratio: Return relative to average drawdown	5.01	11.05	-6.03
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

PHPP.L vs. ENGW.L - Sharpe Ratio Comparison

The current PHPP.L Sharpe Ratio is 1.61, which is comparable to the ENGW.L Sharpe Ratio of 2.30. The chart below compares the historical Sharpe Ratios of PHPP.L and ENGW.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.

Sharpe Ratios by Period

	PHPP.L	ENGW.L	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.61	2.30	-0.69
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.59	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.68	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.51	0.61	-0.10

Drawdowns

PHPP.L vs. ENGW.L - Drawdown Comparison

The maximum PHPP.L drawdown since its inception was -49.43%, which is greater than ENGW.L's maximum drawdown of -21.65%. Use the drawdown chart below to compare losses from any high point for PHPP.L and ENGW.L.

Drawdown Indicators

	PHPP.L	ENGW.L	Difference
Max Drawdown Largest peak-to-trough decline	-49.43%	-21.65%	-27.78%
Max Drawdown (1Y) Largest decline over 1 year	-24.37%	-14.56%	-9.81%
Max Drawdown (3Y) Largest decline over 3 years	-24.37%	-21.40%	-2.97%
Max Drawdown (5Y) Largest decline over 5 years	-26.89%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-26.89%	—	—
Current Drawdown Current decline from peak	-22.56%	-7.57%	-14.99%
Average Drawdown Average peak-to-trough decline	-18.70%	-8.76%	-9.94%
Ulcer Index Depth and duration of drawdowns from previous peaks	10.26%	4.41%	+5.85%

Volatility

PHPP.L vs. ENGW.L - Volatility Comparison

WisdomTree Physical Precious Metals (PHPP.L) and SPDR MSCI World Energy UCITS ETF (ENGW.L) have volatilities of 7.69% and 8.05%, 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.

Volatility by Period

	PHPP.L	ENGW.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.69%	8.05%	-0.36%
Volatility (6M) Calculated over the trailing 6-month period	29.24%	18.04%	+11.20%
Volatility (1Y) Calculated over the trailing 1-year period	31.86%	21.21%	+10.65%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	21.47%	22.79%	-1.32%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.84%	22.79%	-2.95%

PHPP.L vs. ENGW.L - Expense Ratio Comparison

PHPP.L has a 0.44% expense ratio, which is higher than ENGW.L's 0.30% expense ratio.

Dividends

PHPP.L vs. ENGW.L - Dividend Comparison

Neither PHPP.L nor ENGW.L has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both PHPP.L and ENGW.L in my portfolio?

PHPP.L and ENGW.L have a correlation of -0.04, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, PHPP.L or ENGW.L?

On fees, ENGW.L is cheaper at 0.30% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, PHPP.L or ENGW.L?

ENGW.L is cheaper with a 0.30% expense ratio, compared with 0.44% for PHPP.L.

What is the main difference between PHPP.L and ENGW.L?

PHPP.L is categorized as Precious Metals, while ENGW.L is Energy Equities. PHPP.L tracks Precious Metals Basket, while ENGW.L tracks MSCI World/Energy NR USD. They also come from different issuers: WisdomTree and State Street. Their fees differ too: 0.44% for PHPP.L and 0.30% for ENGW.L.