SPY5.L vs. ENGY.L

Last updated Jun 5, 2026

SPY5.L (State Street SPDR S&P 500 UCITS ETF) and ENGY.L (SPDR® MSCI Europe Energy UCITS ETF) are both exchange-traded funds - SPY5.L is a S&P 500 fund tracking the S&P 500, while ENGY.L is a Energy Equities fund tracking the MSCI World/Energy NR USD. Both are passively managed. Over the past 10 years, SPY5.L returned 15.36%/yr vs 11.80%/yr for ENGY.L. At a 0.25 correlation, their price movements are largely independent. SPY5.L charges 0.09%/yr vs 0.18%/yr for ENGY.L.

Performance

SPY5.L vs. ENGY.L - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in State Street SPDR S&P 500 UCITS ETF (SPY5.L) and SPDR® MSCI Europe Energy UCITS ETF (ENGY.L). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

SPY5.L is traded in USD, while ENGY.L is traded in EUR. To make them comparable, the ENGY.L values have been converted to USD using the latest available exchange rates.

Returns By Period

In the year-to-date period, SPY5.L achieves a 10.31% return, which is significantly lower than ENGY.L's 33.18% return. Over the past 10 years, SPY5.L has outperformed ENGY.L with an annualized return of 15.36%, while ENGY.L has yielded a comparatively lower 11.80% annualized return.

SPY5.L

• 1D: 0.01%
• 1M: 4.49%
• YTD: 10.31%
• 6M: 11.16%
• 1Y: 27.83%
• 3Y*: 22.16%
• 5Y*: 13.71%
• 10Y*: 15.36%

ENGY.L

• 1D: -0.83%
• 1M: -3.19%
• YTD: 33.18%
• 6M: 30.37%
• 1Y: 56.77%
• 3Y*: 20.67%
• 5Y*: 18.86%
• 10Y*: 11.80%

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

SPY5.L vs. ENGY.L - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
SPY5.L State Street SPDR S&P 500 UCITS ETF	10.31%	17.43%	25.36%	26.64%	-18.68%	29.28%	17.52%	30.85%	-5.09%	22.58%
ENGY.L SPDR® MSCI Europe Energy UCITS ETF	33.18%	29.76%	-10.93%	11.02%	30.44%	26.98%	-25.47%	10.18%	-5.86%	18.67%

Correlation

The correlation between SPY5.L and ENGY.L is -0.10, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	-0.10
Correlation (3Y) Calculated over the trailing 3-year period	0.15
Correlation (5Y) Calculated over the trailing 5-year period	0.27
Correlation (10Y) Calculated over the trailing 10-year period	0.27
Correlation (All Time) Calculated using the full available price history since Feb 19, 2015	0.25

The correlation between SPY5.L and ENGY.L shifts across timeframes, from -0.10 (1 year) to 0.27 (5 years), reflecting how their relationship changes across market environments.

SPY5.L vs. ENGY.L - Sectors Allocation Comparison

Sectors	SPY5.L	ENGY.L
Technology	38.0%	0.0%
Financial Services	11.3%	0.0%
Communication Services	10.6%	0.7%
Consumer Cyclical	9.8%	0.0%
Healthcare	8.4%	0.0%
Industrials	7.6%	0.0%
Consumer Defensive	4.7%	0.0%
Energy	3.4%	99.1%
Utilities	2.6%	0.0%
Real Estate	1.8%	0.0%
Basic Materials	1.7%	0.0%

Return for Risk

SPY5.L vs. ENGY.L — Risk / Return Rank

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

SPY5.L

SPY5.L Risk / Return Rank: 75
SPY5.L Sharpe Ratio Rank: 75
SPY5.L Sortino Ratio Rank: 79
SPY5.L Omega Ratio Rank: 75
SPY5.L Calmar Ratio Rank: 69
SPY5.L Martin Ratio Rank: 77

ENGY.L

ENGY.L Risk / Return Rank: 74
ENGY.L Sharpe Ratio Rank: 75
ENGY.L Sortino Ratio Rank: 63
ENGY.L Omega Ratio Rank: 71
ENGY.L Calmar Ratio Rank: 85
ENGY.L Martin Ratio Rank: 77

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.

SPY5.L vs. ENGY.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for State Street SPDR S&P 500 UCITS ETF (SPY5.L) and SPDR® MSCI Europe Energy UCITS ETF (ENGY.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.

	SPY5.L	ENGY.L	Difference
Sharpe ratio: Return per unit of total volatility	2.39	2.53	-0.14
Sortino ratio: Return per unit of downside risk	3.51	3.06	+0.45
Omega ratio: Gain probability vs. loss probability	1.44	1.43	+0.01
Calmar ratio: Return relative to maximum drawdown	3.39	5.58	-2.20
Martin ratio: Return relative to average drawdown	14.64	18.09	-3.45
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

SPY5.L vs. ENGY.L - Sharpe Ratio Comparison

The current SPY5.L Sharpe Ratio is 2.39, which is comparable to the ENGY.L Sharpe Ratio of 2.53. The chart below compares the historical Sharpe Ratios of SPY5.L and ENGY.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

	SPY5.L	ENGY.L	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.39	2.53	-0.14
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.86	0.78	+0.08
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.94	0.53	+0.41
Sharpe Ratio (All Time) Calculated using the full available price history	0.95	0.42	+0.52

Drawdowns

SPY5.L vs. ENGY.L - Drawdown Comparison

The maximum SPY5.L drawdown since its inception was -33.89%, smaller than the maximum ENGY.L drawdown of -61.34%. Use the drawdown chart below to compare losses from any high point for SPY5.L and ENGY.L.

Drawdown Indicators

	SPY5.L	ENGY.L	Difference
Max Drawdown Largest peak-to-trough decline	-33.89%	-61.34%	+27.45%
Max Drawdown (1Y) Largest decline over 1 year	-8.18%	-10.12%	+1.94%
Max Drawdown (3Y) Largest decline over 3 years	-18.37%	-24.38%	+6.01%
Max Drawdown (5Y) Largest decline over 5 years	-24.37%	-24.41%	+0.04%
Max Drawdown (10Y) Largest decline over 10 years	-33.89%	-61.34%	+27.45%
Current Drawdown Current decline from peak	-0.55%	-5.88%	+5.33%
Average Drawdown Average peak-to-trough decline	-3.70%	-12.70%	+9.00%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.90%	3.13%	-1.23%

Volatility

SPY5.L vs. ENGY.L - Volatility Comparison

The current volatility for State Street SPDR S&P 500 UCITS ETF (SPY5.L) is 3.17%, while SPDR® MSCI Europe Energy UCITS ETF (ENGY.L) has a volatility of 7.86%. This indicates that SPY5.L experiences smaller price fluctuations and is considered to be less risky than ENGY.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SPY5.L	ENGY.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.17%	7.86%	-4.69%
Volatility (6M) Calculated over the trailing 6-month period	8.48%	18.98%	-10.50%
Volatility (1Y) Calculated over the trailing 1-year period	11.59%	22.38%	-10.79%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.92%	25.85%	-9.93%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.24%	30.92%	-14.68%

SPY5.L vs. ENGY.L - Expense Ratio Comparison

SPY5.L has a 0.09% expense ratio, which is lower than ENGY.L's 0.18% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

SPY5.L vs. ENGY.L - Dividend Comparison

SPY5.L's dividend yield for the trailing twelve months is around 0.89%, while ENGY.L has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
ENGY.L SPDR® MSCI Europe 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%
SPY5.L State Street SPDR S&P 500 UCITS ETF	0.89%	0.97%	1.06%	1.19%	1.40%	0.99%	1.28%	1.71%	2.20%	2.29%	1.64%	1.73%

Frequently Asked Questions

Can I hold both SPY5.L and ENGY.L in my portfolio?

SPY5.L and ENGY.L have a correlation of -0.10, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, SPY5.L or ENGY.L?

On fees, SPY5.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, SPY5.L or ENGY.L?

SPY5.L is cheaper with a 0.09% expense ratio, compared with 0.18% for ENGY.L.

What is the main difference between SPY5.L and ENGY.L?

SPY5.L is categorized as S&P 500, while ENGY.L is Energy Equities. SPY5.L tracks S&P 500, while ENGY.L tracks MSCI World/Energy NR USD. Their fees differ too: 0.09% for SPY5.L and 0.18% for ENGY.L.