AES vs. ICLN
AES (The AES Corporation) is a stock, while ICLN (iShares Global Clean Energy ETF) is Alternative Energy Equities fund tracking the S&P Global Clean Energy Index. Over the past 10 years, AES returned 6.06%/yr vs 11.38%/yr for ICLN. At a 0.48 correlation, their price movements are largely independent.
Performance
AES vs. ICLN - Performance Comparison
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Returns By Period
In the year-to-date period, AES achieves a 5.00% return, which is significantly lower than ICLN's 26.14% return. Over the past 10 years, AES has underperformed ICLN with an annualized return of 6.06%, while ICLN has yielded a comparatively higher 11.38% annualized return.
AES
- 1D
- 0.34%
- 1M
- 0.14%
- YTD
- 5.00%
- 6M
- 8.33%
- 1Y
- 52.27%
- 3Y*
- -6.03%
- 5Y*
- -7.19%
- 10Y*
- 6.06%
ICLN
- 1D
- -4.44%
- 1M
- -7.52%
- YTD
- 26.14%
- 6M
- 25.31%
- 1Y
- 64.46%
- 3Y*
- 6.74%
- 5Y*
- -0.79%
- 10Y*
- 11.38%
AES vs. ICLN - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
AES The AES Corporation | 5.00% | 18.26% | -30.40% | -30.88% | 21.69% | 5.94% | 22.16% | 42.14% | 39.02% | -2.69% |
ICLN iShares Global Clean Energy ETF | 26.14% | 47.05% | -25.72% | -20.41% | -5.43% | -24.18% | 141.82% | 44.36% | -9.03% | 21.47% |
Correlation
The correlation between AES and ICLN is 0.38, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.38 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.48 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.53 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.46 |
Correlation (All Time) Calculated using the full available price history since Jun 25, 2008 | 0.48 |
The correlation between AES and ICLN shifts across timeframes, from 0.38 (1 year) to 0.53 (5 years), reflecting how their relationship changes across market environments.
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Return for Risk
AES vs. ICLN — Risk / Return Rank
AES
ICLN
AES vs. ICLN - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for The AES Corporation (AES) and iShares Global Clean Energy ETF (ICLN). 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.
| AES | ICLN | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.01 | ||
| Sortino ratioReturn per unit of downside risk | -0.81 | ||
| Omega ratioGain probability vs. loss probability | 1.36 | 1.36 | 0.00 |
| Calmar ratioReturn relative to maximum drawdown | 2.77 | 3.96 | -1.19 |
| Martin ratioReturn relative to average drawdown | 5.11 | 13.73 | -8.62 |
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Drawdowns
AES vs. ICLN - Drawdown Comparison
The maximum AES drawdown since its inception was -98.65%, which is greater than ICLN's maximum drawdown of -87.15%. Use the drawdown chart below to compare losses from any high point for AES and ICLN.
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Drawdown Indicators
| AES | ICLN | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -98.65% | -87.15% | -11.50% |
Max Drawdown (1Y)Largest decline over 1 year | -18.98% | -16.38% | -2.60% |
Max Drawdown (3Y)Largest decline over 3 years | -53.33% | -43.18% | -10.15% |
Max Drawdown (5Y)Largest decline over 5 years | -63.43% | -57.16% | -6.27% |
Max Drawdown (10Y)Largest decline over 10 years | -63.43% | -66.75% | +3.32% |
Current DrawdownCurrent decline from peak | -62.03% | -43.56% | -18.47% |
Average DrawdownAverage peak-to-trough decline | -57.02% | -66.53% | +9.51% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 10.26% | 4.71% | +5.55% |
Volatility
AES vs. ICLN - Volatility Comparison
The current volatility for The AES Corporation (AES) is 0.98%, while iShares Global Clean Energy ETF (ICLN) has a volatility of 13.47%. This indicates that AES experiences smaller price fluctuations and is considered to be less risky than ICLN based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| AES | ICLN | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.98% | 13.47% | -12.49% |
Volatility (6M)Calculated over the trailing 6-month period | 25.36% | 23.14% | +2.22% |
Volatility (1Y)Calculated over the trailing 1-year period | 41.64% | 28.52% | +13.12% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 37.73% | 27.69% | +10.04% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 36.04% | 27.33% | +8.71% |
Dividends
AES vs. ICLN - Dividend Comparison
AES's dividend yield for the trailing twelve months is around 4.79%, more than ICLN's 0.89% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
AES The AES Corporation | 4.79% | 4.91% | 5.36% | 3.45% | 2.20% | 2.48% | 2.44% | 2.74% | 3.60% | 4.43% | 3.79% | 4.18% |
ICLN iShares Global Clean Energy ETF | 0.89% | 1.63% | 1.85% | 1.59% | 0.89% | 1.18% | 0.34% | 1.36% | 2.77% | 2.49% | 3.88% | 2.36% |
Frequently Asked Questions
AES and ICLN have a correlation of 0.38, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
ICLN has higher volatility (13.47%) compared to AES (0.98%). In terms of maximum drawdown, AES dropped -98.65% vs ICLN's -87.15%.
ICLN currently has the higher Sharpe Ratio (2.27 vs 1.26), 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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