36BA.DE vs. RAYS

Last updated Apr 2, 2026

Compare and contrast key facts about L&G Battery Value-Chain UCITS ETF (36BA.DE) and Global X Solar ETF (RAYS).

36BA.DE and RAYS are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. 36BA.DE is a passively managed fund by Legal & General that tracks the performance of the Solactive Battery Value-Chain Index. It was launched on Jan 29, 2018. RAYS is a passively managed fund by Global X that tracks the performance of the Solactive Solar Index. It was launched on Sep 8, 2021. Both 36BA.DE and RAYS are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.

Performance

36BA.DE vs. RAYS - Performance Comparison

The chart below illustrates the hypothetical performance of a €10,000 investment in L&G Battery Value-Chain UCITS ETF (36BA.DE) and Global X Solar ETF (RAYS). The values are adjusted to include any dividend payments, if applicable.

36BA.DE vs. RAYS - Yearly Performance Comparison

	2026 (YTD)
36BA.DE L&G Battery Value-Chain UCITS ETF	-1.02%
RAYS Global X Solar ETF	2.13%

Different Trading Currencies

36BA.DE is traded in EUR, while RAYS is traded in USD. To make them comparable, the RAYS values have been converted to EUR using the latest available exchange rates.

Returns By Period

36BA.DE

• 1D: 0.53%
• 1M: -1.29%
• YTD: -1.13%
• 6M: -0.75%
• 1Y: 2.13%
• 3Y*: 2.61%
• 5Y*: -1.51%
• 10Y*: —

RAYS

• 1D: -0.10%
• 1M: 1.05%
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

36BA.DE vs. RAYS - Expense Ratio Comparison

36BA.DE has a 0.49% expense ratio, which is lower than RAYS's 0.50% expense ratio.

RAYS

Global X Solar ETF

36BA.DE

L&G Battery Value-Chain UCITS ETF

Return for Risk

36BA.DE vs. RAYS — Risk / Return Rank

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

36BA.DE

36BA.DE Risk / Return Rank: 21
36BA.DE Sharpe Ratio Rank: 21
36BA.DE Sortino Ratio Rank: 19
36BA.DE Omega Ratio Rank: 19
36BA.DE Calmar Ratio Rank: 22
36BA.DE Martin Ratio Rank: 24

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.

36BA.DE vs. RAYS - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for L&G Battery Value-Chain UCITS ETF (36BA.DE) and Global X Solar ETF (RAYS). 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.

	36BA.DE	RAYS	Difference
Sharpe ratio Return per unit of total volatility	0.37	—	—
Sortino ratio Return per unit of downside risk	0.54	—	—
Omega ratio Gain probability vs. loss probability	1.07	—	—
Calmar ratio Return relative to maximum drawdown	0.56	—	—
Martin ratio Return relative to average drawdown	2.07	—	—
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

Sharpe Ratios by Period

	36BA.DE	RAYS	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.37	—	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.21	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	-0.11	2.55	-2.66

Correlation

The correlation between 36BA.DE and RAYS is -0.19. This indicates that the assets' prices tend to move in opposite directions. Negative correlation can be particularly beneficial for diversification and risk management, as one asset may offset the losses of the other during market fluctuations.

Dividends

36BA.DE vs. RAYS - Dividend Comparison

36BA.DE's dividend yield for the trailing twelve months is around 4.79%, while RAYS has not paid dividends to shareholders.

	TTM	2025	2024	2023	2022	2021	2020
36BA.DE L&G Battery Value-Chain UCITS ETF	4.79%	4.73%	4.75%	4.15%	2.94%	1.76%	0.87%
RAYS Global X Solar ETF	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Drawdowns

36BA.DE vs. RAYS - Drawdown Comparison

The maximum 36BA.DE drawdown since its inception was -23.68%, which is greater than RAYS's maximum drawdown of -1.26%. Use the drawdown chart below to compare losses from any high point for 36BA.DE and RAYS.

Drawdown Indicators

	36BA.DE	RAYS	Difference
Max Drawdown Largest peak-to-trough decline	-23.68%	0.00%	-23.68%
Max Drawdown (1Y) Largest decline over 1 year	-4.12%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-23.18%	—	—
Current Drawdown Current decline from peak	-11.24%	0.00%	-11.24%
Average Drawdown Average peak-to-trough decline	-11.36%	0.00%	-11.36%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.11%	—	—

Volatility

Volatility by Period

	36BA.DE	RAYS	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.92%	—	—
Volatility (6M) Calculated over the trailing 6-month period	3.10%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	5.70%	6.95%	-1.25%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	7.06%	6.95%	+0.11%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	6.88%	6.95%	-0.07%