UTIL.L vs. EQDS.L

Last updated Jun 4, 2026

UTIL.L (SPDR MSCI Europe Utilities UCITS ETF) and EQDS.L (iShares MSCI Europe Quality Dividend ESG UCITS ETF EUR (Dist)) are both exchange-traded funds - UTIL.L is a Utilities Equities fund tracking the MSCI World/Utilities NR USD, while EQDS.L is a Europe Equities fund tracking the MSCI Europe High Div Yld NR EUR. Both are passively managed. Over the past 5 years, UTIL.L returned 11.88%/yr vs 6.28%/yr for EQDS.L. A 0.58 correlation means they provide meaningful diversification when combined. UTIL.L charges 0.18%/yr vs 0.28%/yr for EQDS.L.

Performance

UTIL.L vs. EQDS.L - Performance Comparison

The chart below illustrates the hypothetical performance of a €10,000 investment in SPDR MSCI Europe Utilities UCITS ETF (UTIL.L) and iShares MSCI Europe Quality Dividend ESG UCITS ETF EUR (Dist) (EQDS.L). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

UTIL.L is traded in EUR, while EQDS.L is traded in GBp. To make them comparable, the EQDS.L values have been converted to EUR using the latest available exchange rates.

Returns By Period

In the year-to-date period, UTIL.L achieves a 13.22% return, which is significantly higher than EQDS.L's 2.80% return.

UTIL.L

• 1D: 0.94%
• 1M: -4.47%
• YTD: 13.22%
• 6M: 13.96%
• 1Y: 27.26%
• 3Y*: 16.68%
• 5Y*: 11.88%
• 10Y*: 10.77%

EQDS.L

• 1D: -0.59%
• 1M: -0.29%
• YTD: 2.80%
• 6M: 4.14%
• 1Y: 3.63%
• 3Y*: 6.91%
• 5Y*: 6.28%
• 10Y*: —

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

UTIL.L vs. EQDS.L - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
UTIL.L SPDR MSCI Europe Utilities UCITS ETF	13.22%	33.98%	1.33%	13.09%	-6.77%	8.27%	11.82%	29.32%	3.35%	-3.97%
EQDS.L iShares MSCI Europe Quality Dividend ESG UCITS ETF EUR (Dist)	2.80%	7.14%	7.79%	11.20%	-2.36%	13.08%	-13.36%	20.54%	-10.24%	-1.88%

Correlation

The correlation between UTIL.L and EQDS.L is 0.43, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.43
Correlation (3Y) Calculated over the trailing 3-year period	0.46
Correlation (5Y) Calculated over the trailing 5-year period	0.55
Correlation (All Time) Calculated using the full available price history since Jun 15, 2017	0.58

The correlation between UTIL.L and EQDS.L shifts across timeframes, from 0.43 (1 year) to 0.58 (all time), reflecting how their relationship changes across market environments.

UTIL.L vs. EQDS.L - Sectors Allocation Comparison

Sectors	UTIL.L	EQDS.L
Utilities	95.4%	10.7%
Industrials	4.6%	17.4%
Basic Materials	-	1.7%
Communication Services	-	4.3%
Consumer Cyclical	-	5.5%
Consumer Defensive	-	12.0%
Energy	-	4.8%
Financial Services	-	28.6%
Healthcare	-	8.1%
Real Estate	-	3.3%
Technology	-	3.7%

Return for Risk

UTIL.L vs. EQDS.L — Risk / Return Rank

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

UTIL.L

UTIL.L Risk / Return Rank: 58
UTIL.L Sharpe Ratio Rank: 54
UTIL.L Sortino Ratio Rank: 49
UTIL.L Omega Ratio Rank: 53
UTIL.L Calmar Ratio Rank: 74
UTIL.L Martin Ratio Rank: 59

EQDS.L

EQDS.L Risk / Return Rank: 18
EQDS.L Sharpe Ratio Rank: 19
EQDS.L Sortino Ratio Rank: 18
EQDS.L Omega Ratio Rank: 18
EQDS.L Calmar Ratio Rank: 18
EQDS.L Martin Ratio Rank: 19

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.

UTIL.L vs. EQDS.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for SPDR MSCI Europe Utilities UCITS ETF (UTIL.L) and iShares MSCI Europe Quality Dividend ESG UCITS ETF EUR (Dist) (EQDS.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.

	UTIL.L	EQDS.L	Difference
Sharpe ratio: Return per unit of total volatility	1.83	0.36	+1.47
Sortino ratio: Return per unit of downside risk	2.39	0.58	+1.81
Omega ratio: Gain probability vs. loss probability	1.33	1.07	+0.26
Calmar ratio: Return relative to maximum drawdown	3.72	0.47	+3.25
Martin ratio: Return relative to average drawdown	10.55	1.37	+9.17
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

UTIL.L vs. EQDS.L - Sharpe Ratio Comparison

The current UTIL.L Sharpe Ratio is 1.83, which is higher than the EQDS.L Sharpe Ratio of 0.36. The chart below compares the historical Sharpe Ratios of UTIL.L and EQDS.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

	UTIL.L	EQDS.L	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.83	0.36	+1.47
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.73	0.48	+0.25
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.61	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.50	0.21	+0.29

Drawdowns

UTIL.L vs. EQDS.L - Drawdown Comparison

The maximum UTIL.L drawdown since its inception was -34.59%, smaller than the maximum EQDS.L drawdown of -38.35%. Use the drawdown chart below to compare losses from any high point for UTIL.L and EQDS.L.

Drawdown Indicators

	UTIL.L	EQDS.L	Difference
Max Drawdown Largest peak-to-trough decline	-34.59%	-38.35%	+3.76%
Max Drawdown (1Y) Largest decline over 1 year	-7.30%	-8.37%	+1.07%
Max Drawdown (3Y) Largest decline over 3 years	-13.48%	-13.58%	+0.10%
Max Drawdown (5Y) Largest decline over 5 years	-22.12%	-16.55%	-5.57%
Max Drawdown (10Y) Largest decline over 10 years	-34.59%	—	—
Current Drawdown Current decline from peak	-4.93%	-3.41%	-1.52%
Average Drawdown Average peak-to-trough decline	-5.98%	-6.04%	+0.06%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.58%	2.88%	-0.30%

Volatility

UTIL.L vs. EQDS.L - Volatility Comparison

SPDR MSCI Europe Utilities UCITS ETF (UTIL.L) has a higher volatility of 6.02% compared to iShares MSCI Europe Quality Dividend ESG UCITS ETF EUR (Dist) (EQDS.L) at 3.43%. This indicates that UTIL.L's price experiences larger fluctuations and is considered to be riskier than EQDS.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	UTIL.L	EQDS.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.02%	3.43%	+2.59%
Volatility (6M) Calculated over the trailing 6-month period	12.91%	8.50%	+4.41%
Volatility (1Y) Calculated over the trailing 1-year period	14.81%	10.93%	+3.88%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.22%	12.96%	+3.26%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.71%	15.62%	+2.09%

UTIL.L vs. EQDS.L - Expense Ratio Comparison

UTIL.L has a 0.18% expense ratio, which is lower than EQDS.L's 0.28% expense ratio.

Dividends

UTIL.L vs. EQDS.L - Dividend Comparison

UTIL.L has not paid dividends to shareholders, while EQDS.L's dividend yield for the trailing twelve months is around 0.03%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
EQDS.L iShares MSCI Europe Quality Dividend ESG UCITS ETF EUR (Dist)	0.03%	0.03%	0.03%	0.04%	0.04%	0.05%	0.03%	0.05%	0.05%	0.01%
UTIL.L SPDR MSCI Europe Utilities UCITS ETF	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both UTIL.L and EQDS.L in my portfolio?

UTIL.L and EQDS.L have a correlation of 0.43, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, UTIL.L or EQDS.L?

On fees, UTIL.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, UTIL.L or EQDS.L?

UTIL.L is cheaper with a 0.18% expense ratio, compared with 0.28% for EQDS.L.

What is the main difference between UTIL.L and EQDS.L?

UTIL.L is categorized as Utilities Equities, while EQDS.L is Europe Equities. UTIL.L tracks MSCI World/Utilities NR USD, while EQDS.L tracks MSCI Europe High Div Yld NR EUR. They also come from different issuers: State Street and iShares. Their fees differ too: 0.18% for UTIL.L and 0.28% for EQDS.L.