WNRG.L vs. USSC.L

Last updated Jul 16, 2026

WNRG.L (State Street SPDR MSCI World Energy UCITS ETF) and USSC.L (SPDR MSCI USA Small Cap Value Weighted UCITS ETF) are both exchange-traded funds - WNRG.L is a Global Equities fund tracking the State Street SPDR MSCI World Energy UCITS ETF, while USSC.L is a Small Cap Value Equities fund tracking the MSCI USA Small Cap Value Weighted Index. Both are passively managed. Over the past 10 years, WNRG.L returned 8.57%/yr vs 12.11%/yr for USSC.L. A 0.58 correlation means they provide meaningful diversification when combined. Both charge a 0.30% expense ratio.

Performance

WNRG.L vs. USSC.L - Performance Comparison

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

Returns By Period

In the year-to-date period, WNRG.L achieves a 25.26% return, which is significantly higher than USSC.L's 18.33% return. Over the past 10 years, WNRG.L has underperformed USSC.L with an annualized return of 8.57%, while USSC.L has yielded a comparatively higher 12.11% annualized return.

WNRG.L

• 1D: 0.34%
• 1M: 1.22%
• 6M: 19.05%
• YTD: 25.26%
• 1Y: 33.56%
• 3Y*: 16.08%
• 5Y*: 20.08%
• 10Y*: 8.57%

USSC.L

• 1D: 1.04%
• 1M: 1.32%
• 6M: 12.64%
• YTD: 18.33%
• 1Y: 32.41%
• 3Y*: 18.08%
• 5Y*: 11.78%
• 10Y*: 12.11%

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

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

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
WNRG.L State Street SPDR MSCI World Energy UCITS ETF	25.26%	14.83%	2.07%	3.52%	46.61%	38.74%	-30.35%	9.89%	-14.99%	4.80%
USSC.L SPDR MSCI USA Small Cap Value Weighted UCITS ETF	18.33%	14.72%	8.33%	23.18%	-10.14%	35.22%	8.76%	23.17%	-15.30%	9.80%

Correlation

The correlation between WNRG.L and USSC.L is 0.07, 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	0.07
Correlation (3Y) Calculated over the trailing 3-year period	0.34
Correlation (5Y) Calculated over the trailing 5-year period	0.47
Correlation (10Y) Calculated over the trailing 10-year period	0.57
Correlation (All Time) Calculated using the full available price history since Feb 18, 2015	0.58

Over the past year, the correlation between WNRG.L and USSC.L has dropped to 0.07 - well below their long-term average of 0.58, suggesting their price drivers have been diverging.

Return for Risk

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

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

WNRG.L

WNRG.L Risk / Return Rank: 55
WNRG.L Sharpe Ratio Rank: 62
WNRG.L Sortino Ratio Rank: 55
WNRG.L Omega Ratio Rank: 58
WNRG.L Calmar Ratio Rank: 53
WNRG.L Martin Ratio Rank: 46

USSC.L

USSC.L Risk / Return Rank: 82
USSC.L Sharpe Ratio Rank: 81
USSC.L Sortino Ratio Rank: 84
USSC.L Omega Ratio Rank: 77
USSC.L Calmar Ratio Rank: 87
USSC.L Martin Ratio Rank: 83

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.

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

This table presents a comparison of risk-adjusted performance metrics for State Street SPDR MSCI World Energy UCITS ETF (WNRG.L) and SPDR MSCI USA Small Cap Value Weighted UCITS ETF (USSC.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.

	WNRG.L	USSC.L	Difference
Sharpe ratio: Return per unit of total volatility	1.67	2.05	-0.39
Sortino ratio: Return per unit of downside risk	2.17	3.01	-0.84
Omega ratio: Gain probability vs. loss probability	1.29	1.36	-0.07
Calmar ratio: Return relative to maximum drawdown	2.14	3.97	-1.83
Martin ratio: Return relative to average drawdown	6.18	12.94	-6.76

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

The current WNRG.L Sharpe Ratio is 1.67, which is comparable to the USSC.L Sharpe Ratio of 2.05. The chart below compares the historical Sharpe Ratios of WNRG.L and USSC.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.

Drawdowns

WNRG.L vs. USSC.L - Drawdown Comparison

The maximum WNRG.L drawdown since its inception was -68.72%, which is greater than USSC.L's maximum drawdown of -48.99%. Use the drawdown chart below to compare losses from any high point for WNRG.L and USSC.L.

Drawdown Indicators

	WNRG.L	USSC.L	Difference
Max Drawdown Largest peak-to-trough decline	-68.72%	-48.99%	-19.73%
Max Drawdown (1Y) Largest decline over 1 year	-15.98%	-8.12%	-7.86%
Max Drawdown (3Y) Largest decline over 3 years	-18.94%	-27.47%	+8.53%
Max Drawdown (5Y) Largest decline over 5 years	-26.55%	-27.47%	+0.92%
Max Drawdown (10Y) Largest decline over 10 years	-63.92%	-48.99%	-14.93%
Current Drawdown Current decline from peak	-9.97%	-0.24%	-9.73%
Average Drawdown Average peak-to-trough decline	-17.54%	-7.62%	-9.92%
Ulcer Index Depth and duration of drawdowns from previous peaks	5.55%	2.50%	+3.05%

Volatility

WNRG.L vs. USSC.L - Volatility Comparison

State Street SPDR MSCI World Energy UCITS ETF (WNRG.L) has a higher volatility of 6.79% compared to SPDR MSCI USA Small Cap Value Weighted UCITS ETF (USSC.L) at 4.00%. This indicates that WNRG.L's price experiences larger fluctuations and is considered to be riskier than USSC.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	WNRG.L	USSC.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.79%	4.00%	+2.79%
Volatility (6M) Calculated over the trailing 6-month period	17.77%	10.52%	+7.25%
Volatility (1Y) Calculated over the trailing 1-year period	20.58%	15.73%	+4.85%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	24.34%	21.54%	+2.80%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	33.35%	22.65%	+10.70%

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

Both WNRG.L and USSC.L have an expense ratio of 0.30%.

Dividends

WNRG.L vs. USSC.L - Dividend Comparison

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

Tickers have no history of dividend payments

Frequently Asked Questions

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

WNRG.L and USSC.L have a correlation of 0.07, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

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

Both ETFs have the same 0.30% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.

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

WNRG.L and USSC.L have the same expense ratio: 0.30% per year.

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

WNRG.L is categorized as Global Equities, while USSC.L is Small Cap Value Equities. WNRG.L tracks State Street SPDR MSCI World Energy UCITS ETF, while USSC.L tracks MSCI USA Small Cap Value Weighted Index.