USSC.L vs. ENGY.L

Last updated Jun 5, 2026

USSC.L (SPDR MSCI USA Small Cap Value Weighted UCITS ETF) and ENGY.L (SPDR® MSCI Europe Energy UCITS ETF) are both exchange-traded funds - USSC.L is a Small Cap Value Equities fund tracking the MSCI USA Small Cap Value Weighted Index, while ENGY.L is a Energy Equities fund tracking the MSCI World/Energy NR USD. Both are passively managed. Over the past 10 years, USSC.L returned 11.88%/yr vs 11.80%/yr for ENGY.L. At a 0.35 correlation, their price movements are largely independent. USSC.L charges 0.30%/yr vs 0.18%/yr for ENGY.L.

Performance

USSC.L vs. ENGY.L - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in SPDR MSCI USA Small Cap Value Weighted UCITS ETF (USSC.L) and SPDR® MSCI Europe Energy UCITS ETF (ENGY.L). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

USSC.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, USSC.L achieves a 13.75% return, which is significantly lower than ENGY.L's 33.18% return. Both investments have delivered pretty close results over the past 10 years, with USSC.L having a 11.88% annualized return and ENGY.L not far behind at 11.80%.

USSC.L

• 1D: 0.73%
• 1M: 1.65%
• YTD: 13.75%
• 6M: 14.39%
• 1Y: 36.72%
• 3Y*: 19.78%
• 5Y*: 9.64%
• 10Y*: 11.88%

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)

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

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
USSC.L SPDR MSCI USA Small Cap Value Weighted UCITS ETF	13.75%	14.73%	8.33%	23.17%	-10.14%	35.22%	8.76%	23.19%	-15.30%	9.79%
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 USSC.L and ENGY.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	0.24
Correlation (5Y) Calculated over the trailing 5-year period	0.37
Correlation (10Y) Calculated over the trailing 10-year period	0.37
Correlation (All Time) Calculated using the full available price history since Feb 23, 2015	0.35

Over the past year, the correlation between USSC.L and ENGY.L has dropped to 0.04 - well below their long-term average of 0.35, suggesting their price drivers have been diverging.

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

Sectors	USSC.L	ENGY.L
Financial Services	19.8%	0.0%
Industrials	14.7%	0.0%
Consumer Cyclical	14.0%	0.0%
Energy	11.2%	99.1%
Technology	9.4%	0.0%
Healthcare	7.5%	0.0%
Real Estate	6.2%	0.0%
Basic Materials	6.1%	0.0%
Consumer Defensive	6.0%	0.0%
Communication Services	2.7%	0.7%
Utilities	2.5%	0.0%

Return for Risk

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

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

USSC.L

USSC.L Risk / Return Rank: 75
USSC.L Sharpe Ratio Rank: 71
USSC.L Sortino Ratio Rank: 75
USSC.L Omega Ratio Rank: 66
USSC.L Calmar Ratio Rank: 84
USSC.L Martin Ratio Rank: 76

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.

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

This table presents a comparison of risk-adjusted performance metrics for SPDR MSCI USA Small Cap Value Weighted UCITS ETF (USSC.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.

	USSC.L	ENGY.L	Difference
Sharpe ratio: Return per unit of total volatility	2.29	2.53	-0.24
Sortino ratio: Return per unit of downside risk	3.34	3.06	+0.28
Omega ratio: Gain probability vs. loss probability	1.39	1.43	-0.04
Calmar ratio: Return relative to maximum drawdown	4.50	5.58	-1.08
Martin ratio: Return relative to average drawdown	14.41	18.09	-3.68
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

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

The current USSC.L Sharpe Ratio is 2.29, which is comparable to the ENGY.L Sharpe Ratio of 2.53. The chart below compares the historical Sharpe Ratios of USSC.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

	USSC.L	ENGY.L	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.29	2.53	-0.24
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.45	0.78	-0.34
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.52	0.53	-0.01
Sharpe Ratio (All Time) Calculated using the full available price history	0.45	0.42	+0.03

Drawdowns

USSC.L vs. ENGY.L - Drawdown Comparison

The maximum USSC.L drawdown since its inception was -48.99%, smaller than the maximum ENGY.L drawdown of -61.34%. Use the drawdown chart below to compare losses from any high point for USSC.L and ENGY.L.

Drawdown Indicators

	USSC.L	ENGY.L	Difference
Max Drawdown Largest peak-to-trough decline	-48.99%	-61.34%	+12.35%
Max Drawdown (1Y) Largest decline over 1 year	-8.12%	-10.12%	+2.00%
Max Drawdown (3Y) Largest decline over 3 years	-27.47%	-24.38%	-3.09%
Max Drawdown (5Y) Largest decline over 5 years	-27.47%	-24.41%	-3.06%
Max Drawdown (10Y) Largest decline over 10 years	-48.99%	-61.34%	+12.35%
Current Drawdown Current decline from peak	0.00%	-5.88%	+5.88%
Average Drawdown Average peak-to-trough decline	-7.70%	-12.70%	+5.00%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.54%	3.13%	-0.59%

Volatility

USSC.L vs. ENGY.L - Volatility Comparison

The current volatility for SPDR MSCI USA Small Cap Value Weighted UCITS ETF (USSC.L) is 4.10%, while SPDR® MSCI Europe Energy UCITS ETF (ENGY.L) has a volatility of 7.86%. This indicates that USSC.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

	USSC.L	ENGY.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.10%	7.86%	-3.76%
Volatility (6M) Calculated over the trailing 6-month period	10.09%	18.98%	-8.89%
Volatility (1Y) Calculated over the trailing 1-year period	15.95%	22.38%	-6.43%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	21.62%	25.85%	-4.23%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	22.81%	30.92%	-8.11%

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

USSC.L has a 0.30% expense ratio, which is higher than ENGY.L's 0.18% expense ratio.

Dividends

USSC.L vs. ENGY.L - Dividend Comparison

Neither USSC.L nor ENGY.L has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

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

USSC.L and ENGY.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.

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

On fees, ENGY.L is cheaper at 0.18% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, USSC.L or ENGY.L?

ENGY.L is cheaper with a 0.18% expense ratio, compared with 0.30% for USSC.L.

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

USSC.L is categorized as Small Cap Value Equities, while ENGY.L is Energy Equities. USSC.L tracks MSCI USA Small Cap Value Weighted Index, while ENGY.L tracks MSCI World/Energy NR USD. Their fees differ too: 0.30% for USSC.L and 0.18% for ENGY.L.