WENS.L vs. MLPQ.L
WENS.L (iShares MSCI World Energy Sector UCITS ETF USD (Dist)) and MLPQ.L (Invesco Morningstar US Energy Infrastructure MLP UCITS ETF) are both Energy Equities funds tracking the MSCI World/Energy NR USD, from iShares and Invesco respectively. Both are passively managed. Over the past 3 years, WENS.L returned 13.87%/yr vs 15.76%/yr for MLPQ.L. A 0.72 correlation means they provide meaningful diversification when combined. WENS.L charges 0.25%/yr vs 0.50%/yr for MLPQ.L.
Performance
WENS.L vs. MLPQ.L - Performance Comparison
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Different Trading Currencies
WENS.L is traded in GBP, while MLPQ.L is traded in GBp. To make them comparable, the MLPQ.L values have been converted to GBP using the latest available exchange rates.
Returns By Period
In the year-to-date period, WENS.L achieves a 31.38% return, which is significantly higher than MLPQ.L's 18.94% return.
WENS.L
- 1D
- -0.43%
- 1M
- -0.63%
- YTD
- 31.38%
- 6M
- 26.68%
- 1Y
- 44.00%
- 3Y*
- 13.87%
- 5Y*
- —
- 10Y*
- —
MLPQ.L
- 1D
- -0.55%
- 1M
- 0.83%
- YTD
- 18.94%
- 6M
- 13.87%
- 1Y
- 16.79%
- 3Y*
- 15.76%
- 5Y*
- 18.54%
- 10Y*
- 7.75%
WENS.L vs. MLPQ.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
WENS.L iShares MSCI World Energy Sector UCITS ETF USD (Dist) | 31.38% | 3.24% | 2.09% | -2.00% | 17.73% |
MLPQ.L Invesco Morningstar US Energy Infrastructure MLP UCITS ETF | 18.94% | -4.55% | 24.63% | 12.94% | 18.44% |
Correlation
The correlation between WENS.L and MLPQ.L is 0.69, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.69 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.69 |
Correlation (All Time) Calculated using the full available price history since Jul 1, 2022 | 0.72 |
The correlation between WENS.L and MLPQ.L has been stable across timeframes, ranging from 0.69 to 0.72 - a consistent structural relationship.
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Return for Risk
WENS.L vs. MLPQ.L — Risk / Return Rank
WENS.L
MLPQ.L
WENS.L vs. MLPQ.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares MSCI World Energy Sector UCITS ETF USD (Dist) (WENS.L) and Invesco Morningstar US Energy Infrastructure MLP UCITS ETF (MLPQ.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.
| WENS.L | MLPQ.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.02 | ||
| Sortino ratioReturn per unit of downside risk | +1.10 | ||
| Omega ratioGain probability vs. loss probability | 1.37 | 1.18 | +0.19 |
| Calmar ratioReturn relative to maximum drawdown | 2.99 | 1.84 | +1.15 |
| Martin ratioReturn relative to average drawdown | 9.66 | 4.31 | +5.35 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| WENS.L | MLPQ.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.06 | 1.04 | +1.02 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | 0.94 | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.28 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.59 | 0.19 | +0.40 |
Drawdowns
WENS.L vs. MLPQ.L - Drawdown Comparison
The maximum WENS.L drawdown since its inception was -22.49%, smaller than the maximum MLPQ.L drawdown of -75.62%. Use the drawdown chart below to compare losses from any high point for WENS.L and MLPQ.L.
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Drawdown Indicators
| WENS.L | MLPQ.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -22.49% | -75.62% | +53.13% |
Max Drawdown (1Y)Largest decline over 1 year | -14.63% | -9.07% | -5.56% |
Max Drawdown (3Y)Largest decline over 3 years | -22.49% | -19.04% | -3.45% |
Max Drawdown (5Y)Largest decline over 5 years | — | -19.04% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -74.07% | — |
Current DrawdownCurrent decline from peak | -7.62% | -3.53% | -4.09% |
Average DrawdownAverage peak-to-trough decline | -9.15% | -20.03% | +10.88% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.54% | 3.89% | +0.65% |
Volatility
WENS.L vs. MLPQ.L - Volatility Comparison
iShares MSCI World Energy Sector UCITS ETF USD (Dist) (WENS.L) has a higher volatility of 7.96% compared to Invesco Morningstar US Energy Infrastructure MLP UCITS ETF (MLPQ.L) at 6.19%. This indicates that WENS.L's price experiences larger fluctuations and is considered to be riskier than MLPQ.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| WENS.L | MLPQ.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.96% | 6.19% | +1.77% |
Volatility (6M)Calculated over the trailing 6-month period | 18.19% | 12.70% | +5.49% |
Volatility (1Y)Calculated over the trailing 1-year period | 21.33% | 16.11% | +5.22% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 21.49% | 19.75% | +1.74% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 21.49% | 27.79% | -6.30% |
WENS.L vs. MLPQ.L - Expense Ratio Comparison
WENS.L has a 0.25% expense ratio, which is lower than MLPQ.L's 0.50% expense ratio.
Dividends
WENS.L vs. MLPQ.L - Dividend Comparison
Neither WENS.L nor MLPQ.L has paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
MLPQ.L Invesco Morningstar US Energy Infrastructure MLP UCITS ETF | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
WENS.L iShares MSCI World Energy Sector UCITS ETF USD (Dist) | 0.00% | 0.00% | 1.75% | 3.61% | 1.77% |
Frequently Asked Questions
WENS.L and MLPQ.L have a correlation of 0.69, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, WENS.L is cheaper at 0.25% per year. The better choice depends on whether you care most about return, fees, risk, or income.
WENS.L is cheaper with a 0.25% expense ratio, compared with 0.50% for MLPQ.L.
Both ETFs track MSCI World/Energy NR USD. They also come from different issuers: iShares and Invesco. Their fees differ too: 0.25% for WENS.L and 0.50% for MLPQ.L.
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