TIP vs. ENGW.L
TIP (iShares TIPS Bond ETF) and ENGW.L (SPDR MSCI World Energy UCITS ETF) are both exchange-traded funds - TIP is a Inflation-Protected Bonds fund tracking the ICE U.S. Treasury Inflation Linked Bond Index, while ENGW.L is a Energy Equities fund tracking the MSCI World/Energy NR USD. Both are passively managed. Over the past 10 years, TIP returned 2.50%/yr vs 5.56%/yr for ENGW.L. At a correlation of -0.03, they often move in opposite directions. TIP charges 0.18%/yr vs 0.30%/yr for ENGW.L.
Performance
TIP vs. ENGW.L - Performance Comparison
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Different Trading Currencies
TIP is traded in USD, while ENGW.L is traded in GBP. To make them comparable, the ENGW.L values have been converted to USD using the latest available exchange rates.
Returns By Period
In the year-to-date period, TIP achieves a 1.39% return, which is significantly lower than ENGW.L's 29.17% return. Over the past 10 years, TIP has underperformed ENGW.L with an annualized return of 2.50%, while ENGW.L has yielded a comparatively higher 5.56% annualized return.
TIP
- 1D
- 0.36%
- 1M
- -0.22%
- YTD
- 1.39%
- 6M
- 1.25%
- 1Y
- 4.90%
- 3Y*
- 3.82%
- 5Y*
- 0.91%
- 10Y*
- 2.50%
ENGW.L
- 1D
- 0.00%
- 1M
- 0.33%
- YTD
- 29.17%
- 6M
- 29.05%
- 1Y
- 41.79%
- 3Y*
- 18.04%
- 5Y*
- 10.79%
- 10Y*
- 5.56%
TIP vs. ENGW.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
TIP iShares TIPS Bond ETF | 1.39% | 6.77% | 1.65% | 3.80% | -12.26% | 5.68% | 10.84% | 8.35% | -1.42% | 2.92% |
ENGW.L SPDR MSCI World Energy UCITS ETF | 29.17% | 15.28% | 1.82% | 3.10% | 7.85% | 39.21% | -28.99% | 15.83% | -20.56% | 15.25% |
Correlation
The correlation between TIP and ENGW.L is -0.04, 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 | -0.04 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.05 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.06 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.02 |
Correlation (All Time) Calculated using the full available price history since Jan 4, 2011 | -0.03 |
The correlation between TIP and ENGW.L shifts across timeframes, from -0.04 (1 year) to 0.06 (5 years), reflecting how their relationship changes across market environments.
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Return for Risk
TIP vs. ENGW.L — Risk / Return Rank
TIP
ENGW.L
TIP vs. ENGW.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares TIPS Bond ETF (TIP) 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.
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.
| TIP | ENGW.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.58 | ||
| Sortino ratioReturn per unit of downside risk | -0.33 | ||
| Omega ratioGain probability vs. loss probability | 1.26 | 1.35 | -0.10 |
| Calmar ratioReturn relative to maximum drawdown | 2.49 | 3.37 | -0.88 |
| Martin ratioReturn relative to average drawdown | 7.44 | 11.16 | -3.71 |
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Drawdowns
TIP vs. ENGW.L - Drawdown Comparison
The maximum TIP drawdown since its inception was -14.57%, smaller than the maximum ENGW.L drawdown of -79.21%. Use the drawdown chart below to compare losses from any high point for TIP and ENGW.L.
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Drawdown Indicators
| TIP | ENGW.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -14.57% | -79.21% | +64.64% |
Max Drawdown (1Y)Largest decline over 1 year | -1.98% | -12.46% | +10.48% |
Max Drawdown (3Y)Largest decline over 3 years | -4.54% | -18.79% | +14.25% |
Max Drawdown (5Y)Largest decline over 5 years | -14.51% | -35.50% | +20.99% |
Max Drawdown (10Y)Largest decline over 10 years | -14.51% | -70.27% | +55.76% |
Current DrawdownCurrent decline from peak | -0.47% | -6.85% | +6.38% |
Average DrawdownAverage peak-to-trough decline | -3.43% | -34.12% | +30.69% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.66% | 3.76% | -3.10% |
Volatility
TIP vs. ENGW.L - Volatility Comparison
The current volatility for iShares TIPS Bond ETF (TIP) is 1.03%, while SPDR MSCI World Energy UCITS ETF (ENGW.L) has a volatility of 6.43%. This indicates that TIP 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.
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Volatility by Period
| TIP | ENGW.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.03% | 6.43% | -5.40% |
Volatility (6M)Calculated over the trailing 6-month period | 2.35% | 17.87% | -15.52% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.39% | 20.70% | -17.31% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.21% | 26.66% | -20.45% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.74% | 29.32% | -23.58% |
TIP vs. ENGW.L - Expense Ratio Comparison
TIP has a 0.18% expense ratio, which is lower than ENGW.L's 0.30% expense ratio.
Dividends
TIP vs. ENGW.L - Dividend Comparison
TIP's dividend yield for the trailing twelve months is around 3.76%, while ENGW.L has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
ENGW.L 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% |
TIP iShares TIPS Bond ETF | 3.76% | 3.46% | 2.52% | 2.73% | 6.96% | 4.28% | 1.17% | 1.75% | 2.71% | 2.07% | 1.48% | 0.34% |
Frequently Asked Questions
TIP and ENGW.L have a correlation of -0.04, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, TIP is cheaper at 0.18% per year. The better choice depends on whether you care most about return, fees, risk, or income.
TIP is cheaper with a 0.18% expense ratio, compared with 0.30% for ENGW.L.
TIP is categorized as Inflation-Protected Bonds, while ENGW.L is Energy Equities. TIP tracks ICE U.S. Treasury Inflation Linked Bond Index, while ENGW.L tracks MSCI World/Energy NR USD. They also come from different issuers: iShares and State Street. Their fees differ too: 0.18% for TIP and 0.30% for ENGW.L.
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