ACES vs. RAYS

Last updated Jun 4, 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: -2.84%
• 1M: 17.92%
• YTD: 28.72%
• 6M: 27.36%
• 1Y: 69.96%
• 3Y*: -1.21%
• 5Y*: -8.73%
• 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	16.02%
RAYS Global X Solar ETF	0.00%

ACES vs. RAYS - Sectors Allocation Comparison

Sectors	ACES	RAYS
Utilities	25.5%	6.8%
Technology	24.8%	66.9%
Industrials	20.3%	21.4%
Consumer Cyclical	11.1%	4.0%
Basic Materials	9.3%	0.9%
Financial Services	5.3%	-
Consumer Defensive	3.2%	-
Energy	0.5%	-
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: 62
ACES Sharpe Ratio Rank: 64
ACES Sortino Ratio Rank: 58
ACES Omega Ratio Rank: 53
ACES Calmar Ratio Rank: 78
ACES Martin Ratio Rank: 57

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.

	ACES	RAYS	Difference
Sharpe ratio Return per unit of total volatility	2.18	—	—
Sortino ratio Return per unit of downside risk	2.77	—	—
Omega ratio Gain probability vs. loss probability	1.33	—	—
Calmar ratio Return relative to maximum drawdown	4.03	—	—
Martin ratio Return relative to average drawdown	10.16	—	—
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

	ACES	RAYS	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.18	—	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.24	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.22	—	—

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	-17.44%	—	—
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	-56.41%	0.00%	-56.41%
Average Drawdown Average peak-to-trough decline	-38.87%	0.00%	-38.87%
Ulcer Index Depth and duration of drawdowns from previous peaks	6.91%	—	—

Volatility

Volatility by Period

	ACES	RAYS	Difference
Volatility (1M) Calculated over the trailing 1-month period	9.99%	—	—
Volatility (6M) Calculated over the trailing 6-month period	22.55%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	32.42%	0.00%	+32.42%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	36.17%	0.00%	+36.17%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	35.59%	0.00%	+35.59%

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 0.54%, while RAYS has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018
ACES ALPS Clean Energy ETF	0.54%	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 0.54%, 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.