SPOG.L vs. ENGW.L
SPOG.L (iShares Oil & Gas Exploration & Production UCITS ETF) and ENGW.L (SPDR MSCI World Energy UCITS ETF) are both Energy Equities funds tracking the MSCI World/Energy NR USD, from iShares and State Street respectively. Both are passively managed. Over the past 3 years, SPOG.L returned 11.49%/yr vs 15.70%/yr for ENGW.L. Their correlation of 0.92 suggests significant overlap in exposure. SPOG.L charges 0.55%/yr vs 0.30%/yr for ENGW.L.
Performance
SPOG.L vs. ENGW.L - Performance Comparison
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Different Trading Currencies
SPOG.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, SPOG.L achieves a 28.87% return, which is significantly lower than ENGW.L's 30.79% return.
SPOG.L
- 1D
- 0.35%
- 1M
- -3.04%
- YTD
- 28.87%
- 6M
- 22.45%
- 1Y
- 39.74%
- 3Y*
- 11.49%
- 5Y*
- 17.49%
- 10Y*
- 8.01%
ENGW.L
- 1D
- -0.52%
- 1M
- -0.82%
- YTD
- 30.79%
- 6M
- 28.06%
- 1Y
- 48.84%
- 3Y*
- 15.70%
- 5Y*
- —
- 10Y*
- —
SPOG.L vs. ENGW.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
SPOG.L iShares Oil & Gas Exploration & Production UCITS ETF | 28.87% | -0.88% | 0.57% | -2.90% | 11.48% |
ENGW.L SPDR MSCI World Energy UCITS ETF | 30.79% | 7.20% | 3.55% | -2.06% | 20.65% |
Correlation
The correlation between SPOG.L and ENGW.L is 0.87, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.87 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.90 |
Correlation (All Time) Calculated using the full available price history since Apr 5, 2022 | 0.92 |
The correlation between SPOG.L and ENGW.L has been stable across timeframes, ranging from 0.87 to 0.92 - a consistent structural relationship.
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Return for Risk
SPOG.L vs. ENGW.L — Risk / Return Rank
SPOG.L
ENGW.L
SPOG.L vs. ENGW.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 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.
| SPOG.L | ENGW.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.84 | ||
| Sortino ratioReturn per unit of downside risk | -0.86 | ||
| Omega ratioGain probability vs. loss probability | 1.26 | 1.41 | -0.15 |
| Calmar ratioReturn relative to maximum drawdown | 2.31 | 3.34 | -1.03 |
| Martin ratioReturn relative to average drawdown | 6.19 | 11.05 | -4.85 |
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
| SPOG.L | ENGW.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.46 | 2.30 | -0.84 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.60 | — | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.25 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.15 | 0.61 | -0.46 |
Drawdowns
SPOG.L vs. ENGW.L - Drawdown Comparison
The maximum SPOG.L drawdown since its inception was -76.49%, 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 SPOG.L and ENGW.L.
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Drawdown Indicators
| SPOG.L | ENGW.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -76.49% | -21.65% | -54.84% |
Max Drawdown (1Y)Largest decline over 1 year | -17.14% | -14.56% | -2.58% |
Max Drawdown (3Y)Largest decline over 3 years | -29.87% | -21.40% | -8.47% |
Max Drawdown (5Y)Largest decline over 5 years | -32.90% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -71.97% | — | — |
Current DrawdownCurrent decline from peak | -10.01% | -7.57% | -2.44% |
Average DrawdownAverage peak-to-trough decline | -26.49% | -8.76% | -17.73% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 6.40% | 4.41% | +1.99% |
Volatility
SPOG.L vs. ENGW.L - Volatility Comparison
iShares Oil & Gas Exploration & Production UCITS ETF (SPOG.L) has a higher volatility of 9.48% compared to SPDR MSCI World Energy UCITS ETF (ENGW.L) at 8.05%. This indicates that SPOG.L's price experiences larger fluctuations and is considered to be riskier than ENGW.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SPOG.L | ENGW.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 9.48% | 8.05% | +1.43% |
Volatility (6M)Calculated over the trailing 6-month period | 22.81% | 18.04% | +4.77% |
Volatility (1Y)Calculated over the trailing 1-year period | 27.13% | 21.21% | +5.92% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 29.32% | 22.79% | +6.53% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 31.93% | 22.79% | +9.14% |
SPOG.L vs. ENGW.L - Expense Ratio Comparison
SPOG.L has a 0.55% expense ratio, which is higher than ENGW.L's 0.30% expense ratio.
Dividends
SPOG.L vs. ENGW.L - Dividend Comparison
Neither SPOG.L nor ENGW.L has paid dividends to shareholders.
Frequently Asked Questions
SPOG.L and ENGW.L have a correlation of 0.87, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
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.
ENGW.L is cheaper with a 0.30% expense ratio, compared with 0.55% for SPOG.L.
Both ETFs track MSCI World/Energy NR USD. They also come from different issuers: iShares and State Street. Their fees differ too: 0.55% for SPOG.L and 0.30% for ENGW.L.
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