SPOG.L vs. ANRJ.L

Last updated Jun 4, 2026

SPOG.L (iShares Oil & Gas Exploration & Production UCITS ETF) and ANRJ.L (Amundi ETF MSCI Europe Energy UCITS ETF) are both Energy Equities funds tracking the MSCI World/Energy NR USD, from iShares and Amundi respectively. Both are passively managed. Over the past 10 years, SPOG.L returned 8.27%/yr vs 16.62%/yr for ANRJ.L. A 0.64 correlation means they provide meaningful diversification when combined. SPOG.L charges 0.55%/yr vs 0.25%/yr for ANRJ.L.

Performance

SPOG.L vs. ANRJ.L - Performance Comparison

The chart below illustrates the hypothetical performance of a £10,000 investment in iShares Oil & Gas Exploration & Production UCITS ETF (SPOG.L) and Amundi ETF MSCI Europe Energy UCITS ETF (ANRJ.L). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both investments are quite close, with SPOG.L having a 28.42% return and ANRJ.L slightly higher at 28.46%. Over the past 10 years, SPOG.L has underperformed ANRJ.L with an annualized return of 8.27%, while ANRJ.L has yielded a comparatively higher 16.62% annualized return.

SPOG.L

• 1D: 1.98%
• 1M: -1.72%
• YTD: 28.42%
• 6M: 24.11%
• 1Y: 37.28%
• 3Y*: 11.67%
• 5Y*: 17.41%
• 10Y*: 8.27%

ANRJ.L

• 1D: 0.49%
• 1M: -0.86%
• YTD: 28.46%
• 6M: 28.59%
• 1Y: 68.80%
• 3Y*: 33.42%
• 5Y*: 28.95%
• 10Y*: 16.62%

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

SPOG.L vs. ANRJ.L - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
SPOG.L iShares Oil & Gas Exploration & Production UCITS ETF	28.42%	-0.88%	0.57%	-2.90%	54.40%	69.37%	-33.93%	4.75%	-17.09%	-12.48%
ANRJ.L Amundi ETF MSCI Europe Energy UCITS ETF	28.46%	43.26%	10.68%	9.79%	44.73%	26.52%	-27.94%	3.65%	0.61%	9.59%

Correlation

The correlation between SPOG.L and ANRJ.L is -0.07, 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	-0.07
Correlation (3Y) Calculated over the trailing 3-year period	0.25
Correlation (5Y) Calculated over the trailing 5-year period	0.52
Correlation (10Y) Calculated over the trailing 10-year period	0.64
Correlation (All Time) Calculated using the full available price history since Nov 15, 2012	0.64

The correlation between SPOG.L and ANRJ.L shifts across timeframes, from -0.07 (1 year) to 0.64 (all time), reflecting how their relationship changes across market environments.

SPOG.L vs. ANRJ.L - Sectors Allocation Comparison

Sectors	SPOG.L	ANRJ.L
Energy	100.0%	-
Basic Materials	-	25.7%
Communication Services	-	-
Consumer Cyclical	-	7.9%
Consumer Defensive	-	-
Financial Services	-	-
Healthcare	-	-
Industrials	-	44.4%
Real Estate	-	-
Technology	-	1.4%
Utilities	-	20.6%

Return for Risk

SPOG.L vs. ANRJ.L — Risk / Return Rank

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

SPOG.L

SPOG.L Risk / Return Rank: 38
SPOG.L Sharpe Ratio Rank: 38
SPOG.L Sortino Ratio Rank: 34
SPOG.L Omega Ratio Rank: 37
SPOG.L Calmar Ratio Rank: 44
SPOG.L Martin Ratio Rank: 37

ANRJ.L

ANRJ.L Risk / Return Rank: 95
ANRJ.L Sharpe Ratio Rank: 96
ANRJ.L Sortino Ratio Rank: 95
ANRJ.L Omega Ratio Rank: 94
ANRJ.L Calmar Ratio Rank: 95
ANRJ.L Martin Ratio Rank: 94

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.

SPOG.L vs. ANRJ.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Oil & Gas Exploration & Production UCITS ETF (SPOG.L) and Amundi ETF MSCI Europe Energy UCITS ETF (ANRJ.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.

	SPOG.L	ANRJ.L	Difference
Sharpe ratio: Return per unit of total volatility	1.37	4.17	-2.80
Sortino ratio: Return per unit of downside risk	1.81	5.28	-3.47
Omega ratio: Gain probability vs. loss probability	1.24	1.69	-0.44
Calmar ratio: Return relative to maximum drawdown	2.16	8.47	-6.30
Martin ratio: Return relative to average drawdown	5.84	27.26	-21.42
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

SPOG.L vs. ANRJ.L - Sharpe Ratio Comparison

The current SPOG.L Sharpe Ratio is 1.37, which is lower than the ANRJ.L Sharpe Ratio of 4.17. The chart below compares the historical Sharpe Ratios of SPOG.L and ANRJ.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

	SPOG.L	ANRJ.L	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.37	4.17	-2.80
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.59	1.37	-0.77
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.26	0.68	-0.42
Sharpe Ratio (All Time) Calculated using the full available price history	0.15	0.49	-0.35

Drawdowns

SPOG.L vs. ANRJ.L - Drawdown Comparison

The maximum SPOG.L drawdown since its inception was -76.49%, which is greater than ANRJ.L's maximum drawdown of -57.08%. Use the drawdown chart below to compare losses from any high point for SPOG.L and ANRJ.L.

Drawdown Indicators

	SPOG.L	ANRJ.L	Difference
Max Drawdown Largest peak-to-trough decline	-76.49%	-57.08%	-19.41%
Max Drawdown (1Y) Largest decline over 1 year	-17.14%	-8.08%	-9.06%
Max Drawdown (3Y) Largest decline over 3 years	-29.87%	-13.17%	-16.70%
Max Drawdown (5Y) Largest decline over 5 years	-32.90%	-19.81%	-13.09%
Max Drawdown (10Y) Largest decline over 10 years	-71.97%	-57.08%	-14.89%
Current Drawdown Current decline from peak	-10.32%	-2.89%	-7.43%
Average Drawdown Average peak-to-trough decline	-26.50%	-11.87%	-14.63%
Ulcer Index Depth and duration of drawdowns from previous peaks	6.37%	2.52%	+3.85%

Volatility

SPOG.L vs. ANRJ.L - Volatility Comparison

iShares Oil & Gas Exploration & Production UCITS ETF (SPOG.L) has a higher volatility of 9.65% compared to Amundi ETF MSCI Europe Energy UCITS ETF (ANRJ.L) at 6.90%. This indicates that SPOG.L's price experiences larger fluctuations and is considered to be riskier than ANRJ.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SPOG.L	ANRJ.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	9.65%	6.90%	+2.75%
Volatility (6M) Calculated over the trailing 6-month period	22.82%	13.50%	+9.32%
Volatility (1Y) Calculated over the trailing 1-year period	27.20%	16.41%	+10.79%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	29.32%	21.21%	+8.11%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	31.94%	24.69%	+7.25%

SPOG.L vs. ANRJ.L - Expense Ratio Comparison

SPOG.L has a 0.55% expense ratio, which is higher than ANRJ.L's 0.25% expense ratio.

Dividends

SPOG.L vs. ANRJ.L - Dividend Comparison

Neither SPOG.L nor ANRJ.L has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both SPOG.L and ANRJ.L in my portfolio?

SPOG.L and ANRJ.L have a correlation of -0.07, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, SPOG.L or ANRJ.L?

On fees, ANRJ.L is cheaper at 0.25% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, SPOG.L or ANRJ.L?

ANRJ.L is cheaper with a 0.25% expense ratio, compared with 0.55% for SPOG.L.

What is the main difference between SPOG.L and ANRJ.L?

Both ETFs track MSCI World/Energy NR USD. They also come from different issuers: iShares and Amundi. Their fees differ too: 0.55% for SPOG.L and 0.25% for ANRJ.L.