SMLD.DE vs. ESIE.DE
SMLD.DE (Invesco Morningstar US Energy Infrastructure MLP UCITS ETF Dist) and ESIE.DE (iShares MSCI Europe Energy Sector UCITS ETF EUR (Acc)) are both Energy Equities funds - SMLD.DE tracks the Morningstar MLP Composite while ESIE.DE tracks the MSCI World/Energy NR USD. Both are passively managed. Over the past 5 years, SMLD.DE returned 25.24%/yr vs 19.66%/yr for ESIE.DE. A 0.58 correlation means they provide meaningful diversification when combined. SMLD.DE charges 0.50%/yr vs 0.18%/yr for ESIE.DE.
Performance
SMLD.DE vs. ESIE.DE - Performance Comparison
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Returns By Period
In the year-to-date period, SMLD.DE achieves a 20.75% return, which is significantly lower than ESIE.DE's 35.70% return.
SMLD.DE
- 1D
- -0.66%
- 1M
- 0.52%
- YTD
- 20.75%
- 6M
- 14.96%
- 1Y
- 13.71%
- 3Y*
- 20.56%
- 5Y*
- 25.24%
- 10Y*
- 15.33%
ESIE.DE
- 1D
- -1.24%
- 1M
- -2.61%
- YTD
- 35.70%
- 6M
- 31.40%
- 1Y
- 55.16%
- 3Y*
- 17.75%
- 5Y*
- 19.66%
- 10Y*
- —
SMLD.DE vs. ESIE.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
SMLD.DE Invesco Morningstar US Energy Infrastructure MLP UCITS ETF Dist | 20.75% | -8.86% | 35.22% | 27.59% | 49.18% | 62.11% | 1.74% |
ESIE.DE iShares MSCI Europe Energy Sector UCITS ETF EUR (Acc) | 35.70% | 15.26% | -6.63% | 8.58% | 35.56% | 35.47% | 6.12% |
Correlation
The correlation between SMLD.DE and ESIE.DE is 0.54, 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 | 0.54 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.49 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.59 |
Correlation (All Time) Calculated using the full available price history since Nov 23, 2020 | 0.58 |
The correlation between SMLD.DE and ESIE.DE has been stable across timeframes, ranging from 0.49 to 0.59 - a consistent structural relationship.
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Return for Risk
SMLD.DE vs. ESIE.DE — Risk / Return Rank
SMLD.DE
ESIE.DE
SMLD.DE vs. ESIE.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco Morningstar US Energy Infrastructure MLP UCITS ETF Dist (SMLD.DE) and iShares MSCI Europe Energy Sector UCITS ETF EUR (Acc) (ESIE.DE). 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.
| SMLD.DE | ESIE.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.89 | ||
| Sortino ratioReturn per unit of downside risk | -1.99 | ||
| Omega ratioGain probability vs. loss probability | 1.15 | 1.41 | -0.26 |
| Calmar ratioReturn relative to maximum drawdown | 0.92 | 4.45 | -3.53 |
| Martin ratioReturn relative to average drawdown | 1.91 | 14.31 | -12.40 |
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
| SMLD.DE | ESIE.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.51 | 2.40 | -1.89 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 1.10 | 0.82 | +0.29 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.44 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.29 | 0.93 | -0.64 |
Drawdowns
SMLD.DE vs. ESIE.DE - Drawdown Comparison
The maximum SMLD.DE drawdown since its inception was -73.78%, which is greater than ESIE.DE's maximum drawdown of -26.20%. Use the drawdown chart below to compare losses from any high point for SMLD.DE and ESIE.DE.
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Drawdown Indicators
| SMLD.DE | ESIE.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -73.78% | -26.20% | -47.58% |
Max Drawdown (1Y)Largest decline over 1 year | -14.77% | -12.33% | -2.44% |
Max Drawdown (3Y)Largest decline over 3 years | -22.99% | -26.20% | +3.21% |
Max Drawdown (5Y)Largest decline over 5 years | -22.99% | -26.20% | +3.21% |
Max Drawdown (10Y)Largest decline over 10 years | -70.79% | — | — |
Current DrawdownCurrent decline from peak | -3.47% | -6.72% | +3.25% |
Average DrawdownAverage peak-to-trough decline | -17.76% | -6.68% | -11.08% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 7.16% | 3.84% | +3.32% |
Volatility
SMLD.DE vs. ESIE.DE - Volatility Comparison
The current volatility for Invesco Morningstar US Energy Infrastructure MLP UCITS ETF Dist (SMLD.DE) is 5.38%, while iShares MSCI Europe Energy Sector UCITS ETF EUR (Acc) (ESIE.DE) has a volatility of 7.06%. This indicates that SMLD.DE experiences smaller price fluctuations and is considered to be less risky than ESIE.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SMLD.DE | ESIE.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.38% | 7.06% | -1.68% |
Volatility (6M)Calculated over the trailing 6-month period | 12.79% | 19.84% | -7.05% |
Volatility (1Y)Calculated over the trailing 1-year period | 26.64% | 22.89% | +3.75% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 22.60% | 23.75% | -1.15% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 34.70% | 24.16% | +10.54% |
SMLD.DE vs. ESIE.DE - Expense Ratio Comparison
SMLD.DE has a 0.50% expense ratio, which is higher than ESIE.DE's 0.18% expense ratio.
Dividends
SMLD.DE vs. ESIE.DE - Dividend Comparison
SMLD.DE's dividend yield for the trailing twelve months is around 7.55%, while ESIE.DE has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
ESIE.DE iShares MSCI Europe Energy Sector UCITS ETF EUR (Acc) | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
SMLD.DE Invesco Morningstar US Energy Infrastructure MLP UCITS ETF Dist | 7.55% | 8.45% | 12.45% | 18.33% | 14.40% | 17.94% | 25.01% | 18.21% | 21.61% | 18.39% | 14.39% | 20.63% |
Frequently Asked Questions
SMLD.DE and ESIE.DE have a correlation of 0.54, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, ESIE.DE is cheaper at 0.18% per year. The better choice depends on whether you care most about return, fees, risk, or income.
ESIE.DE is cheaper with a 0.18% expense ratio, compared with 0.50% for SMLD.DE.
SMLD.DE tracks Morningstar MLP Composite, while ESIE.DE tracks MSCI World/Energy NR USD. They also come from different issuers: Invesco and iShares. Their fees differ too: 0.50% for SMLD.DE and 0.18% for ESIE.DE.
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