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 -13.36%/yr vs -21.65%/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 0.52% return, which is significantly lower than CLNE's 10.48% return.
ACES
- 1D
- -2.13%
- 1M
- -11.74%
- 6M
- -7.21%
- YTD
- 0.52%
- 1Y
- 20.15%
- 3Y*
- -11.16%
- 5Y*
- -13.36%
- 10Y*
- —
CLNE
- 1D
- 5.94%
- 1M
- 21.47%
- 6M
- 7.91%
- YTD
- 10.48%
- 1Y
- 5.94%
- 3Y*
- -21.74%
- 5Y*
- -21.65%
- 10Y*
- -3.92%
ACES vs. CLNE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
ACES ALPS Clean Energy ETF | 0.52% | 25.44% | -26.71% | -20.04% | -28.44% | -19.44% | 140.33% | 51.70% | -9.81% |
CLNE Clean Energy Fuels Corp. | 10.48% | -16.33% | -34.46% | -26.35% | -15.17% | -22.01% | 235.90% | 36.05% | -53.01% |
Correlation
The correlation between ACES and CLNE is 0.29, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.29 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.51 |
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 0.29 - 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 | +0.48 | ||
| Sortino ratioReturn per unit of downside risk | +0.45 | ||
| Omega ratioGain probability vs. loss probability | 1.12 | 1.07 | +0.06 |
| Calmar ratioReturn relative to maximum drawdown | 0.84 | 0.14 | +0.70 |
| Martin ratioReturn relative to average drawdown | 2.27 | 0.26 | +2.02 |
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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 | -24.13% | -43.46% | +19.33% |
Max Drawdown (3Y)Largest decline over 3 years | -58.68% | -74.37% | +15.69% |
Max Drawdown (5Y)Largest decline over 5 years | -74.44% | -86.16% | +11.72% |
Max Drawdown (10Y)Largest decline over 10 years | — | -92.92% | — |
Current DrawdownCurrent decline from peak | -65.96% | -90.30% | +24.34% |
Average DrawdownAverage peak-to-trough decline | -39.16% | -66.59% | +27.43% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 8.88% | 23.22% | -14.34% |
Volatility
ACES vs. CLNE - Volatility Comparison
The current volatility for ALPS Clean Energy ETF (ACES) is 9.99%, while Clean Energy Fuels Corp. (CLNE) has a volatility of 15.38%. This indicates that ACES experiences smaller price fluctuations and is considered to be less risky 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 | 9.99% | 15.38% | -5.39% |
Volatility (6M)Calculated over the trailing 6-month period | 25.42% | 35.00% | -9.58% |
Volatility (1Y)Calculated over the trailing 1-year period | 34.17% | 53.29% | -19.12% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 36.58% | 63.77% | -27.19% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 35.70% | 71.35% | -35.65% |
Dividends
ACES vs. CLNE - Dividend Comparison
ACES's dividend yield for the trailing twelve months is around 0.68%, while CLNE has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
ACES ALPS Clean Energy ETF | 0.68% | 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 0.29, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
CLNE has higher volatility (15.38%) compared to ACES (9.99%). In terms of maximum drawdown, ACES dropped -79.05% vs CLNE's -95.48%.
ACES currently has the higher Sharpe Ratio (0.59 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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