- Issuer
- Invesco
- Inception Date
- Mar 1, 2021
- Category
- Global Equities
- Leveraged
- 1x (No leverage)
- Index Tracked
- Invesco Markets II PLC - Invesco Global Clean Energy UCITS ETF
- Distribution Policy
- Distributing
- Asset Class
- Equity
Share Price Chart
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Performance
GCEX.L Performance Chart
Invesco Markets II PLC - Invesco Global Clean Energy UCITS ETF (GCEX.L) is up 15.1% since the beginning of the year. GCEX.L is currently trading at £18 per share. Investors who bought £1,000 worth of GCEX.L shares 5 years ago would now be looking at an investment worth £712.
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Returns By Period
Invesco Markets II PLC - Invesco Global Clean Energy UCITS ETF (GCEX.L) has returned 15.08% so far this year and 40.93% over the past 12 months.
Invesco Markets II PLC - Invesco Global Clean Energy UCITS ETF
- 1D
- -0.75%
- 1M
- -9.70%
- 6M
- 7.04%
- YTD
- 15.08%
- 1Y
- 40.93%
- 3Y*
- -0.94%
- 5Y*
- -6.57%
- 10Y*
- —
Benchmark (S&P 500 Index)
- 1D
- -0.66%
- 1M
- -0.64%
- 6M
- 8.66%
- YTD
- 10.17%
- 1Y
- 19.99%
- 3Y*
- 17.60%
- 5Y*
- 12.23%
- 10Y*
- 13.06%
GCEX.L Monthly Returns History
Based on dividend-adjusted daily data since Mar 1, 2021, GCEX.L's average daily return is -0.05%, while the average monthly return is -0.91%.
Historically, 43% of months were positive and 57% were negative. The best month was Jul 2022 with a return of +15.2%, while the worst month was Mar 2021 at -34.0%. The longest winning streak lasted 6 consecutive months, and the longest losing streak was 7 months.
On a daily basis, GCEX.L closed higher 49% of trading days. The best single day was Dec 14, 2023 with a return of +8.2%, while the worst single day was Mar 2, 2021 at -28.7%.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | 7.51% | 6.48% | -2.78% | 14.11% | 8.16% | -10.74% | -6.13% | 15.08% | |||||
| 2025 | -0.27% | -4.38% | -8.27% | -0.07% | 7.43% | 6.28% | 10.45% | 4.06% | 6.39% | 13.50% | -3.88% | -0.70% | 32.21% |
| 2024 | -12.79% | -1.36% | 3.11% | -4.13% | 8.16% | -7.40% | 0.16% | -5.06% | 3.10% | -5.27% | -2.01% | -3.70% | -25.34% |
| 2023 | 9.84% | -3.43% | -1.17% | -7.47% | -2.90% | 3.65% | 4.42% | -11.66% | -7.10% | -13.50% | 5.22% | 11.04% | -15.45% |
| 2022 | -18.61% | 7.67% | 8.41% | -8.72% | 1.29% | -8.61% | 15.21% | 5.76% | -10.84% | -5.42% | 3.48% | -9.10% | -22.40% |
| 2021 | -34.02% | -4.03% | -5.34% | 7.09% | -4.87% | 0.58% | -2.78% | 9.10% | -2.41% | -9.91% | -42.73% |
Benchmark Metrics
Invesco Markets II PLC - Invesco Global Clean Energy UCITS ETF has an annualized alpha of -17.26%, beta of 0.52, and R2 of 0.08 versus S&P 500 Index. Calculated based on daily prices since March 01, 2021.
- This ETF participated in 168.42% of S&P 500 Index downside but only 30.06% of its upside - more exposed to losses than it benefited from rallies.
- Beta of 0.52 may look defensive, but with R2 of 0.08 this ETF is largely uncorrelated with S&P 500 Index - low beta reflects independence, not downside protection. See the Volatility section for a true picture of this ETF's risk.
- R2 of 0.08 means this ETF moves largely independently of S&P 500 Index - capture ratios reflect limited market correlation rather than active downside protection. Consider using a more representative benchmark.
- Alpha
- -17.26%
- Beta
- 0.52
- R²
- 0.08
- Upside Capture
- 30.06%
- Downside Capture
- 168.42%
Expense Ratio
GCEX.L has an expense ratio of 0.60%, placing it in the medium range.
Return for Risk
Risk / Return Rank
GCEX.L ranks 61 for risk / return — better than 61% of ETFs on our site. You're getting solid returns for the risk taken. A good sign, especially for investors who want growth without excessive volatility.
Return / Risk — by metrics
The table below present risk-adjusted performance metrics for Invesco Markets II PLC - Invesco Global Clean Energy UCITS ETF (GCEX.L) and compare them to S&P 500 Index.
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.
| GCEX.L | Benchmark | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.14 | ||
| Sortino ratioReturn per unit of downside risk | +0.12 | ||
| Omega ratioGain probability vs. loss probability | 1.31 | 1.31 | 0.00 |
| Calmar ratioReturn relative to maximum drawdown | 2.23 | 2.50 | -0.27 |
| Martin ratioReturn relative to average drawdown | 7.69 | 9.11 | -1.42 |
Dividends
Dividend History
Invesco Markets II PLC - Invesco Global Clean Energy UCITS ETF provided a 1.40% dividend yield over the last twelve months, with an annual payout of £0.25 per share. The fund has been increasing its distributions for 3 consecutive years.
| Period | TTM | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|---|
| Dividend | £0.25 | £0.32 | £0.17 | £0.11 | £0.02 | £0.05 |
Dividend yield | 1.40% | 2.07% | 1.38% | 0.69% | 0.09% | 0.19% |
Monthly Dividends
The table displays the monthly dividend distributions for Invesco Markets II PLC - Invesco Global Clean Energy UCITS ETF. The dividends shown in the table have been adjusted to account for any splits that may have occurred.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | £0.00 | £0.00 | £0.02 | £0.00 | £0.00 | £0.06 | £0.00 | £0.08 | |||||
| 2025 | £0.00 | £0.00 | £0.02 | £0.00 | £0.00 | £0.13 | £0.00 | £0.00 | £0.16 | £0.00 | £0.00 | £0.01 | £0.32 |
| 2024 | £0.00 | £0.00 | £0.00 | £0.00 | £0.00 | £0.05 | £0.00 | £0.00 | £0.09 | £0.00 | £0.00 | £0.02 | £0.17 |
| 2023 | £0.00 | £0.00 | £0.00 | £0.00 | £0.00 | £0.03 | £0.00 | £0.00 | £0.06 | £0.00 | £0.00 | £0.02 | £0.11 |
| 2022 | £0.00 | £0.00 | £0.00 | £0.00 | £0.00 | £0.00 | £0.00 | £0.00 | £0.02 | £0.00 | £0.00 | £0.00 | £0.02 |
| 2021 | £0.04 | £0.00 | £0.00 | £0.01 | £0.00 | £0.00 | £0.00 | £0.05 |
Drawdowns
Drawdowns Chart
The Drawdowns chart displays portfolio losses from any high point along the way. Drawdowns are calculated considering price movements and all distributions paid, if any.
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Worst Drawdowns
The table below displays the maximum drawdowns of the Invesco Markets II PLC - Invesco Global Clean Energy UCITS ETF. A maximum drawdown is a measure of risk, indicating the largest reduction in portfolio value due to a series of losing trades.
The maximum drawdown for the Invesco Markets II PLC - Invesco Global Clean Energy UCITS ETF was 78.22%, occurring on Apr 9, 2025. The portfolio has not yet recovered.
The current Invesco Markets II PLC - Invesco Global Clean Energy UCITS ETF drawdown is 57.32%.
Drawdown | Fall | Recovery | Underwater | Related event |
|---|---|---|---|---|
-78.22%Apr 2025 | 4y 1mo | — | 5y 4moMar 2021 - now | 2025 selloff2025 |
Drawdown Indicators
| GCEX.L | Benchmark | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -78.22% | -37.07% | -41.15% |
Max Drawdown (1Y)Largest decline over 1 year | -18.30% | -8.03% | -10.27% |
Max Drawdown (3Y)Largest decline over 3 years | -52.81% | -22.15% | -30.66% |
Max Drawdown (5Y)Largest decline over 5 years | -68.40% | -22.15% | -46.25% |
Max Drawdown (10Y)Largest decline over 10 years | — | -26.01% | — |
Current DrawdownCurrent decline from peak | -57.32% | -1.42% | -55.90% |
Average DrawdownAverage peak-to-trough decline | -57.38% | -5.29% | -52.09% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 5.31% | 2.20% | +3.11% |
Volatility
Volatility Chart
The chart below shows the rolling one-month volatility.
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