SPX5.L vs. ENGW.L

Last updated Jun 25, 2026

SPX5.L (SPDR S&P 500 UCITS ETF) and ENGW.L (State Street SPDR MSCI World Energy UCITS ETF) are both exchange-traded funds - SPX5.L is a S&P 500 fund tracking the S&P 500 Index, while ENGW.L is a Energy Equities fund tracking the MSCI World Energy 35/20 Capped Index. Both are passively managed. Over the past 10 years, SPX5.L returned 15.65%/yr vs 5.73%/yr for ENGW.L. At a 0.30 correlation, their price movements are largely independent. SPX5.L charges 0.09%/yr vs 0.30%/yr for ENGW.L.

Performance

SPX5.L vs. ENGW.L - Performance Comparison

The chart below illustrates the hypothetical performance of a £10,000 investment in SPDR S&P 500 UCITS ETF (SPX5.L) and State Street SPDR MSCI World Energy UCITS ETF (ENGW.L). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SPX5.L achieves a 10.58% return, which is significantly lower than ENGW.L's 23.08% return. Over the past 10 years, SPX5.L has outperformed ENGW.L with an annualized return of 15.65%, while ENGW.L has yielded a comparatively lower 5.73% annualized return.

SPX5.L

• 1D: 0.77%
• 1M: 1.16%
• YTD: 10.58%
• 6M: 10.76%
• 1Y: 27.47%
• 3Y*: 19.42%
• 5Y*: 14.20%
• 10Y*: 15.65%

ENGW.L

• 1D: 0.00%
• 1M: -6.61%
• YTD: 23.08%
• 6M: 25.45%
• 1Y: 35.39%
• 3Y*: 14.86%
• 5Y*: 10.70%
• 10Y*: 5.73%

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

SPX5.L vs. ENGW.L - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
SPX5.L SPDR S&P 500 UCITS ETF	10.58%	9.34%	27.46%	19.76%	-9.00%	30.96%	13.52%	26.33%	-0.04%	10.71%
ENGW.L State Street SPDR MSCI World Energy UCITS ETF	23.08%	7.20%	3.55%	-2.06%	20.76%	40.49%	-31.10%	11.37%	-15.80%	5.24%

Correlation

The correlation between SPX5.L and ENGW.L is -0.03, 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	-0.03
Correlation (3Y) Calculated over the trailing 3-year period	0.22
Correlation (5Y) Calculated over the trailing 5-year period	0.26
Correlation (10Y) Calculated over the trailing 10-year period	0.29
Correlation (All Time) Calculated using the full available price history since Mar 19, 2012	0.30

The correlation between SPX5.L and ENGW.L shifts across timeframes, from -0.03 (1 year) to 0.30 (all time), reflecting how their relationship changes across market environments.

Return for Risk

SPX5.L vs. ENGW.L — Risk / Return Rank

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

SPX5.L

SPX5.L Risk / Return Rank: 84
SPX5.L Sharpe Ratio Rank: 86
SPX5.L Sortino Ratio Rank: 85
SPX5.L Omega Ratio Rank: 86
SPX5.L Calmar Ratio Rank: 82
SPX5.L Martin Ratio Rank: 80

ENGW.L

ENGW.L Risk / Return Rank: 52
ENGW.L Sharpe Ratio Rank: 56
ENGW.L Sortino Ratio Rank: 47
ENGW.L Omega Ratio Rank: 55
ENGW.L Calmar Ratio Rank: 54
ENGW.L Martin Ratio Rank: 46

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.

SPX5.L vs. ENGW.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for SPDR S&P 500 UCITS ETF (SPX5.L) and State Street 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.

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.

	SPX5.L	ENGW.L	Difference
Sharpe ratio: Return per unit of total volatility	2.52	1.66	+0.86
Sortino ratio: Return per unit of downside risk	3.41	2.10	+1.31
Omega ratio: Gain probability vs. loss probability	1.47	1.30	+0.16
Calmar ratio: Return relative to maximum drawdown	3.87	2.37	+1.50
Martin ratio: Return relative to average drawdown	13.95	6.96	+6.99

SPX5.L vs. ENGW.L - Sharpe Ratio Comparison

The current SPX5.L Sharpe Ratio is 2.52, which is higher than the ENGW.L Sharpe Ratio of 1.66. The chart below compares the historical Sharpe Ratios of SPX5.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.

Drawdowns

SPX5.L vs. ENGW.L - Drawdown Comparison

The maximum SPX5.L drawdown since its inception was -41.23%, smaller than the maximum ENGW.L drawdown of -69.49%. Use the drawdown chart below to compare losses from any high point for SPX5.L and ENGW.L.

Drawdown Indicators

	SPX5.L	ENGW.L	Difference
Max Drawdown Largest peak-to-trough decline	-41.23%	-69.49%	+28.26%
Max Drawdown (1Y) Largest decline over 1 year	-7.07%	-15.03%	+7.96%
Max Drawdown (3Y) Largest decline over 3 years	-20.90%	-21.40%	+0.50%
Max Drawdown (5Y) Largest decline over 5 years	-20.90%	-28.10%	+7.20%
Max Drawdown (10Y) Largest decline over 10 years	-25.45%	-64.68%	+39.23%
Current Drawdown Current decline from peak	-0.54%	-13.02%	+12.48%
Average Drawdown Average peak-to-trough decline	-7.46%	-20.74%	+13.28%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.96%	5.10%	-3.14%

Volatility

SPX5.L vs. ENGW.L - Volatility Comparison

The current volatility for SPDR S&P 500 UCITS ETF (SPX5.L) is 3.39%, while State Street SPDR MSCI World Energy UCITS ETF (ENGW.L) has a volatility of 7.41%. This indicates that SPX5.L experiences smaller price fluctuations and is considered to be less risky than ENGW.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SPX5.L	ENGW.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.39%	7.41%	-4.02%
Volatility (6M) Calculated over the trailing 6-month period	7.65%	18.72%	-11.07%
Volatility (1Y) Calculated over the trailing 1-year period	10.88%	21.73%	-10.85%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.28%	25.48%	-11.20%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.43%	26.78%	-11.35%

SPX5.L vs. ENGW.L - Expense Ratio Comparison

SPX5.L has a 0.09% expense ratio, which is lower than ENGW.L's 0.30% expense ratio.

Dividends

SPX5.L vs. ENGW.L - Dividend Comparison

SPX5.L's dividend yield for the trailing twelve months is around 0.91%, while ENGW.L has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
ENGW.L State Street SPDR MSCI World Energy UCITS ETF	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
SPX5.L SPDR S&P 500 UCITS ETF	0.91%	0.98%	1.03%	1.21%	1.39%	0.98%	1.40%	1.48%	1.71%	1.57%	1.49%	1.68%

Frequently Asked Questions

Can I hold both SPX5.L and ENGW.L in my portfolio?

SPX5.L and ENGW.L have a correlation of -0.03, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, SPX5.L or ENGW.L?

On fees, SPX5.L is cheaper at 0.09% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, SPX5.L or ENGW.L?

SPX5.L is cheaper with a 0.09% expense ratio, compared with 0.30% for ENGW.L.

What is the main difference between SPX5.L and ENGW.L?

SPX5.L is categorized as S&P 500, while ENGW.L is Energy Equities. SPX5.L tracks S&P 500 Index, while ENGW.L tracks MSCI World Energy 35/20 Capped Index. Their fees differ too: 0.09% for SPX5.L and 0.30% for ENGW.L.