WSML.L vs. WNRG.L
WSML.L (iShares MSCI World Small Cap UCITS ETF USD (Acc)) and WNRG.L (State Street SPDR MSCI World Energy UCITS ETF USD (Acc)) are both Global Equities funds - WSML.L tracks the MSCI World Small Cap Index while WNRG.L tracks the MSCI World Energy 35/20 Capped Index. Both are passively managed. Over the past 5 years, WSML.L returned 7.56%/yr vs 20.55%/yr for WNRG.L. A 0.52 correlation means they provide meaningful diversification when combined. WSML.L charges 0.35%/yr vs 0.30%/yr for WNRG.L.
Performance
WSML.L vs. WNRG.L - Performance Comparison
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Returns By Period
In the year-to-date period, WSML.L achieves a 13.22% return, which is significantly lower than WNRG.L's 27.75% return.
WSML.L
- 1D
- -1.25%
- 1M
- -2.28%
- 6M
- 6.86%
- YTD
- 13.22%
- 1Y
- 24.76%
- 3Y*
- 14.88%
- 5Y*
- 7.56%
- 10Y*
- —
WNRG.L
- 1D
- 0.93%
- 1M
- 4.49%
- 6M
- 21.77%
- YTD
- 27.75%
- 1Y
- 37.39%
- 3Y*
- 16.24%
- 5Y*
- 20.55%
- 10Y*
- 8.80%
WSML.L vs. WNRG.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
WSML.L iShares MSCI World Small Cap UCITS ETF USD (Acc) | 13.22% | 19.95% | 7.38% | 17.11% | -18.62% | 15.23% | 16.50% | 24.35% | -11.90% |
WNRG.L State Street SPDR MSCI World Energy UCITS ETF USD (Acc) | 27.75% | 14.83% | 2.07% | 3.52% | 46.61% | 38.74% | -30.35% | 9.89% | -9.88% |
Correlation
The correlation between WSML.L and WNRG.L is -0.08, 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 | -0.08 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.26 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.41 |
Correlation (All Time) Calculated using the full available price history since Mar 27, 2018 | 0.52 |
The correlation between WSML.L and WNRG.L shifts across timeframes, from -0.08 (1 year) to 0.52 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
WSML.L vs. WNRG.L — Risk / Return Rank
WSML.L
WNRG.L
WSML.L vs. WNRG.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares MSCI World Small Cap UCITS ETF USD (Acc) (WSML.L) and State Street SPDR MSCI World Energy UCITS ETF USD (Acc) (WNRG.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.
| WSML.L | WNRG.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.18 | ||
| Sortino ratioReturn per unit of downside risk | +0.19 | ||
| Omega ratioGain probability vs. loss probability | 1.29 | 1.31 | -0.02 |
| Calmar ratioReturn relative to maximum drawdown | 2.72 | 2.33 | +0.39 |
| Martin ratioReturn relative to average drawdown | 9.81 | 6.70 | +3.11 |
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Drawdowns
WSML.L vs. WNRG.L - Drawdown Comparison
The maximum WSML.L drawdown since its inception was -41.14%, smaller than the maximum WNRG.L drawdown of -68.72%. Use the drawdown chart below to compare losses from any high point for WSML.L and WNRG.L.
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Drawdown Indicators
| WSML.L | WNRG.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -41.14% | -68.72% | +27.58% |
Max Drawdown (1Y)Largest decline over 1 year | -9.05% | -15.98% | +6.93% |
Max Drawdown (3Y)Largest decline over 3 years | -20.10% | -18.94% | -1.16% |
Max Drawdown (5Y)Largest decline over 5 years | -30.50% | -26.55% | -3.95% |
Max Drawdown (10Y)Largest decline over 10 years | — | -63.92% | — |
Current DrawdownCurrent decline from peak | -2.84% | -8.18% | +5.34% |
Average DrawdownAverage peak-to-trough decline | -8.67% | -17.54% | +8.87% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.52% | 5.57% | -3.05% |
Volatility
WSML.L vs. WNRG.L - Volatility Comparison
The current volatility for iShares MSCI World Small Cap UCITS ETF USD (Acc) (WSML.L) is 4.18%, while State Street SPDR MSCI World Energy UCITS ETF USD (Acc) (WNRG.L) has a volatility of 5.93%. This indicates that WSML.L experiences smaller price fluctuations and is considered to be less risky than WNRG.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| WSML.L | WNRG.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.18% | 5.93% | -1.75% |
Volatility (6M)Calculated over the trailing 6-month period | 12.01% | 17.83% | -5.82% |
Volatility (1Y)Calculated over the trailing 1-year period | 15.19% | 20.62% | -5.43% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 18.55% | 24.34% | -5.79% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 19.52% | 33.35% | -13.83% |
WSML.L vs. WNRG.L - Expense Ratio Comparison
WSML.L has a 0.35% expense ratio, which is higher than WNRG.L's 0.30% expense ratio.
Dividends
WSML.L vs. WNRG.L - Dividend Comparison
Neither WSML.L nor WNRG.L has paid dividends to shareholders.
Frequently Asked Questions
WSML.L and WNRG.L have a correlation of -0.08, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, WNRG.L is cheaper at 0.30% per year. The better choice depends on whether you care most about return, fees, risk, or income.
WNRG.L is cheaper with a 0.30% expense ratio, compared with 0.35% for WSML.L.
WSML.L tracks MSCI World Small Cap Index, while WNRG.L tracks MSCI World Energy 35/20 Capped Index. They also come from different issuers: iShares and State Street. Their fees differ too: 0.35% for WSML.L and 0.30% for WNRG.L.
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