ACES vs. CLNE
ACES (ALPS Clean Energy ETF) is Alternative Energy Equities fund tracking the CIBC Atlas Clean Energy Index, while CLNE (Clean Energy Fuels Corp.) is a stock. Over the past 5 years, ACES returned -12.09%/yr vs -30.50%/yr for CLNE. A 0.56 correlation means they provide meaningful diversification when combined.
Performance
ACES vs. CLNE - Performance Comparison
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Returns By Period
In the year-to-date period, ACES achieves a 14.56% return, which is significantly higher than CLNE's -14.76% return.
ACES
- 1D
- 0.46%
- 1M
- -5.13%
- YTD
- 14.56%
- 6M
- 8.10%
- 1Y
- 49.72%
- 3Y*
- -3.60%
- 5Y*
- -12.09%
- 10Y*
- —
CLNE
- 1D
- -3.76%
- 1M
- -12.68%
- YTD
- -14.76%
- 6M
- -20.09%
- 1Y
- -5.79%
- 3Y*
- -26.78%
- 5Y*
- -30.50%
- 10Y*
- -5.82%
ACES vs. CLNE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
ACES ALPS Clean Energy ETF | 14.56% | 25.44% | -26.71% | -20.04% | -28.44% | -19.44% | 140.33% | 51.70% | -9.81% |
CLNE Clean Energy Fuels Corp. | -14.76% | -16.33% | -34.46% | -26.35% | -15.17% | -22.01% | 235.90% | 36.05% | -53.01% |
Correlation
The correlation between ACES and CLNE is 0.33, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.33 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.52 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.59 |
Correlation (All Time) Calculated using the full available price history since Jun 29, 2018 | 0.56 |
Over the past year, the correlation between ACES and CLNE has dropped to 0.33 - well below their long-term average of 0.56, suggesting their price drivers have been diverging.
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Return for Risk
ACES vs. CLNE — Risk / Return Rank
ACES
CLNE
ACES vs. CLNE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ALPS Clean Energy ETF (ACES) and Clean Energy Fuels Corp. (CLNE). 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.
| ACES | CLNE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.60 | ||
| Sortino ratioReturn per unit of downside risk | +1.80 | ||
| Omega ratioGain probability vs. loss probability | 1.25 | 1.03 | +0.22 |
| Calmar ratioReturn relative to maximum drawdown | 2.80 | -0.14 | +2.94 |
| Martin ratioReturn relative to average drawdown | 6.65 | -0.27 | +6.92 |
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Drawdowns
ACES vs. CLNE - Drawdown Comparison
The maximum ACES drawdown since its inception was -79.05%, smaller than the maximum CLNE drawdown of -95.48%. Use the drawdown chart below to compare losses from any high point for ACES and CLNE.
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Drawdown Indicators
| ACES | CLNE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -79.05% | -95.48% | +16.43% |
Max Drawdown (1Y)Largest decline over 1 year | -17.82% | -41.50% | +23.68% |
Max Drawdown (3Y)Largest decline over 3 years | -58.68% | -74.37% | +15.69% |
Max Drawdown (5Y)Largest decline over 5 years | -74.44% | -87.91% | +13.47% |
Max Drawdown (10Y)Largest decline over 10 years | — | -92.92% | — |
Current DrawdownCurrent decline from peak | -61.21% | -92.52% | +31.31% |
Average DrawdownAverage peak-to-trough decline | -38.98% | -66.52% | +27.54% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 7.50% | 21.78% | -14.28% |
Volatility
ACES vs. CLNE - Volatility Comparison
ALPS Clean Energy ETF (ACES) has a higher volatility of 13.71% compared to Clean Energy Fuels Corp. (CLNE) at 10.47%. This indicates that ACES's price experiences larger fluctuations and is considered to be riskier than CLNE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| ACES | CLNE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 13.71% | 10.47% | +3.24% |
Volatility (6M)Calculated over the trailing 6-month period | 24.88% | 32.60% | -7.72% |
Volatility (1Y)Calculated over the trailing 1-year period | 33.66% | 53.32% | -19.66% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 36.47% | 63.67% | -27.20% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 35.69% | 71.36% | -35.67% |
Dividends
ACES vs. CLNE - Dividend Comparison
ACES's dividend yield for the trailing twelve months is around 0.60%, while CLNE has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
ACES ALPS Clean Energy ETF | 0.60% | 0.70% | 1.10% | 1.44% | 1.08% | 0.71% | 0.56% | 1.79% | 0.34% |
CLNE Clean Energy Fuels Corp. | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
ACES and CLNE have a correlation of 0.33, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
ACES has higher volatility (13.71%) compared to CLNE (10.47%). In terms of maximum drawdown, ACES dropped -79.05% vs CLNE's -95.48%.
ACES currently has the higher Sharpe Ratio (1.49 vs -0.11), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.
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