ACES vs. RAYS

Last updated Jun 24, 2026

ACES (ALPS Clean Energy ETF) and RAYS (Global X Solar ETF) are both Alternative Energy Equities funds - ACES tracks the CIBC Atlas Clean Energy Index while RAYS tracks the Solactive Solar Index. Both are passively managed. ACES charges 0.55%/yr vs 0.50%/yr for RAYS.

Performance

ACES vs. RAYS - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ALPS Clean Energy ETF (ACES) and Global X Solar ETF (RAYS). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

ACES

• 1D: -4.61%
• 1M: -9.51%
• YTD: 9.28%
• 6M: 4.82%
• 1Y: 42.77%
• 3Y*: -5.11%
• 5Y*: -12.89%
• 10Y*: —

RAYS

• 1D: 0.00%
• 1M: 0.00%
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

ACES vs. RAYS - Yearly Performance Comparison

	2026 (YTD)
ACES ALPS Clean Energy ETF	3.51%
RAYS Global X Solar ETF	0.00%

ACES vs. RAYS - Sectors Allocation Comparison

Sectors	ACES	RAYS
Technology	30.1%	66.9%
Utilities	23.8%	6.8%
Industrials	21.6%	21.4%
Consumer Cyclical	9.9%	4.0%
Basic Materials	7.3%	0.9%
Financial Services	4.4%	-
Consumer Defensive	2.5%	-
Energy	0.4%	-
Communication Services	-	-
Healthcare	-	-
Real Estate	-	-

Return for Risk

ACES vs. RAYS — Risk / Return Rank

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

ACES

ACES Risk / Return Rank: 39
ACES Sharpe Ratio Rank: 37
ACES Sortino Ratio Rank: 36
ACES Omega Ratio Rank: 34
ACES Calmar Ratio Rank: 51
ACES Martin Ratio Rank: 39

RAYS

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

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.

ACES vs. RAYS - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ALPS Clean Energy ETF (ACES) 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.

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	RAYS	Difference
Sharpe ratio: Return per unit of total volatility	1.27	—	—
Sortino ratio: Return per unit of downside risk	1.79	—	—
Omega ratio: Gain probability vs. loss probability	1.22	—	—
Calmar ratio: Return relative to maximum drawdown	2.41	—	—
Martin ratio: Return relative to average drawdown	5.66	—	—

Drawdowns

ACES vs. RAYS - Drawdown Comparison

The maximum ACES drawdown since its inception was -79.05%, which is greater than RAYS's maximum drawdown of 0.00%. Use the drawdown chart below to compare losses from any high point for ACES and RAYS.

Drawdown Indicators

	ACES	RAYS	Difference
Max Drawdown Largest peak-to-trough decline	-79.05%	0.00%	-79.05%
Max Drawdown (1Y) Largest decline over 1 year	-17.82%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-58.68%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-74.44%	—	—
Current Drawdown Current decline from peak	-63.00%	0.00%	-63.00%
Average Drawdown Average peak-to-trough decline	-38.99%	0.00%	-38.99%
Ulcer Index Depth and duration of drawdowns from previous peaks	7.58%	—	—

Volatility

Volatility by Period

	ACES	RAYS	Difference
Volatility (1M) Calculated over the trailing 1-month period	14.00%	—	—
Volatility (6M) Calculated over the trailing 6-month period	25.21%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	33.93%	0.00%	+33.93%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	36.52%	0.00%	+36.52%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	35.72%	0.00%	+35.72%

ACES vs. RAYS - Expense Ratio Comparison

ACES has a 0.55% expense ratio, which is higher than RAYS's 0.50% expense ratio.

Dividends

ACES vs. RAYS - Dividend Comparison

ACES's dividend yield for the trailing twelve months is around 0.63%, while RAYS has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018
ACES ALPS Clean Energy ETF	0.63%	0.70%	1.10%	1.44%	1.08%	0.71%	0.56%	1.79%	0.34%
RAYS Global X Solar ETF	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Which ETF is better, ACES or RAYS?

On fees, RAYS is cheaper at 0.50% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, ACES or RAYS?

RAYS is cheaper with a 0.50% expense ratio, compared with 0.55% for ACES.

Which ETF pays a higher dividend yield, ACES or RAYS?

ACES has the higher dividend yield at 0.63%, compared with 0.00% for RAYS.

What is the main difference between ACES and RAYS?

ACES tracks CIBC Atlas Clean Energy Index, while RAYS tracks Solactive Solar Index. They also come from different issuers: SS&C and Global X. Their fees differ too: 0.55% for ACES and 0.50% for RAYS.