BE vs. PBW

Last updated Jun 19, 2026

BE (Bloom Energy Corporation) is a stock, while PBW (Invesco WilderHill Clean Energy ETF) is Small Cap Growth Equities fund tracking the The WilderHill Clean Energy Index (AMEX). Over the past 5 years, BE returned 67.90%/yr vs -11.89%/yr for PBW. A 0.65 correlation means they provide meaningful diversification when combined.

Performance

BE vs. PBW - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Bloom Energy Corporation (BE) and Invesco WilderHill Clean Energy ETF (PBW). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, BE achieves a 278.54% return, which is significantly higher than PBW's 36.16% return.

BE

• 1D: 15.41%
• 1M: 25.86%
• YTD: 278.54%
• 6M: 310.06%
• 1Y: 1,429.81%
• 3Y*: 167.62%
• 5Y*: 67.90%
• 10Y*: —

PBW

• 1D: 3.90%
• 1M: 9.37%
• YTD: 36.16%
• 6M: 34.96%
• 1Y: 114.88%
• 3Y*: 3.30%
• 5Y*: -11.89%
• 10Y*: 10.13%

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

BE vs. PBW - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
BE Bloom Energy Corporation	278.54%	291.22%	50.07%	-22.59%	-12.81%	-23.48%	283.67%	-25.15%	-46.63%
PBW Invesco WilderHill Clean Energy ETF	36.16%	53.96%	-30.77%	-20.03%	-44.55%	-29.86%	204.82%	62.58%	-13.35%

Correlation

The correlation between BE and PBW is 0.55, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.55
Correlation (3Y) Calculated over the trailing 3-year period	0.64
Correlation (5Y) Calculated over the trailing 5-year period	0.72
Correlation (All Time) Calculated using the full available price history since Jul 25, 2018	0.65

The correlation between BE and PBW shifts across timeframes, from 0.55 (1 year) to 0.72 (5 years), reflecting how their relationship changes across market environments.

Return for Risk

BE vs. PBW — Risk / Return Rank

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

BE

BE Risk / Return Rank: 99
BE Sharpe Ratio Rank: 100
BE Sortino Ratio Rank: 98
BE Omega Ratio Rank: 97
BE Calmar Ratio Rank: 100
BE Martin Ratio Rank: 100

PBW

PBW Risk / Return Rank: 80
PBW Sharpe Ratio Rank: 89
PBW Sortino Ratio Rank: 74
PBW Omega Ratio Rank: 69
PBW Calmar Ratio Rank: 91
PBW Martin Ratio Rank: 78

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.

BE vs. PBW - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Bloom Energy Corporation (BE) and Invesco WilderHill Clean Energy ETF (PBW). 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.

	BE	PBW	Difference
Sharpe ratio: Return per unit of total volatility	13.37	2.74	+10.62
Sortino ratio: Return per unit of downside risk	5.38	3.06	+2.32
Omega ratio: Gain probability vs. loss probability	1.69	1.38	+0.31
Calmar ratio: Return relative to maximum drawdown	31.49	5.44	+26.05
Martin ratio: Return relative to average drawdown	97.57	14.13	+83.44

BE vs. PBW - Sharpe Ratio Comparison

The current BE Sharpe Ratio is 13.37, which is higher than the PBW Sharpe Ratio of 2.74. The chart below compares the historical Sharpe Ratios of BE and PBW, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

BE vs. PBW - Drawdown Comparison

The maximum BE drawdown since its inception was -92.54%, roughly equal to the maximum PBW drawdown of -89.02%. Use the drawdown chart below to compare losses from any high point for BE and PBW.

Drawdown Indicators

	BE	PBW	Difference
Max Drawdown Largest peak-to-trough decline	-92.54%	-89.02%	-3.52%
Max Drawdown (1Y) Largest decline over 1 year	-45.94%	-21.24%	-24.70%
Max Drawdown (3Y) Largest decline over 3 years	-53.42%	-68.04%	+14.62%
Max Drawdown (5Y) Largest decline over 5 years	-75.87%	-84.50%	+8.63%
Max Drawdown (10Y) Largest decline over 10 years	—	-89.02%	—
Current Drawdown Current decline from peak	0.00%	-65.69%	+65.69%
Average Drawdown Average peak-to-trough decline	-51.82%	-62.90%	+11.08%
Ulcer Index Depth and duration of drawdowns from previous peaks	14.80%	8.16%	+6.64%

Volatility

BE vs. PBW - Volatility Comparison

Bloom Energy Corporation (BE) has a higher volatility of 29.00% compared to Invesco WilderHill Clean Energy ETF (PBW) at 18.10%. This indicates that BE's price experiences larger fluctuations and is considered to be riskier than PBW based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BE	PBW	Difference
Volatility (1M) Calculated over the trailing 1-month period	29.00%	18.10%	+10.90%
Volatility (6M) Calculated over the trailing 6-month period	74.92%	31.09%	+43.83%
Volatility (1Y) Calculated over the trailing 1-year period	108.23%	42.15%	+66.08%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	86.25%	43.32%	+42.93%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	95.75%	38.99%	+56.76%

Dividends

BE vs. PBW - Dividend Comparison

BE has not paid dividends to shareholders, while PBW's dividend yield for the trailing twelve months is around 0.65%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
BE Bloom Energy Corporation	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
PBW Invesco WilderHill Clean Energy ETF	0.65%	0.79%	2.84%	3.68%	4.21%	1.71%	0.44%	1.45%	2.04%	1.28%	2.68%	1.53%

Frequently Asked Questions

Can I hold both BE and PBW in my portfolio?

BE and PBW have a correlation of 0.55, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, BE or PBW?

BE has higher volatility (29.00%) compared to PBW (18.10%). In terms of maximum drawdown, BE dropped -92.54% vs PBW's -89.02%.

Which has better risk-adjusted returns?

BE currently has the higher Sharpe Ratio (13.37 vs 2.74), 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.