CGAEX vs. ICLN
CGAEX (Calvert Global Energy Solutions Fund Class A) and ICLN (iShares Global Clean Energy ETF) are both funds - CGAEX is a Energy Equities fund managed by Calvert Research and Management, while ICLN is a Alternative Energy Equities fund tracking the S&P Global Clean Energy Index. Over the past 10 years, CGAEX returned 11.54%/yr vs 11.99%/yr for ICLN. Their correlation of 0.82 suggests significant overlap in exposure. CGAEX charges 1.24%/yr vs 0.46%/yr for ICLN.
Performance
CGAEX vs. ICLN - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, CGAEX achieves a 22.98% return, which is significantly lower than ICLN's 40.54% return. Both investments have delivered pretty close results over the past 10 years, with CGAEX having a 11.54% annualized return and ICLN not far ahead at 11.99%.
CGAEX
- 1D
- 1.26%
- 1M
- 4.19%
- YTD
- 22.98%
- 6M
- 23.45%
- 1Y
- 48.72%
- 3Y*
- 13.64%
- 5Y*
- 6.29%
- 10Y*
- 11.54%
ICLN
- 1D
- -2.78%
- 1M
- 11.22%
- YTD
- 40.54%
- 6M
- 39.84%
- 1Y
- 83.73%
- 3Y*
- 8.92%
- 5Y*
- 2.10%
- 10Y*
- 11.99%
CGAEX vs. ICLN - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
CGAEX Calvert Global Energy Solutions Fund Class A | 22.98% | 32.27% | -7.33% | 5.40% | -17.66% | 6.50% | 61.15% | 33.16% | -19.66% | 29.42% |
ICLN iShares Global Clean Energy ETF | 40.54% | 47.05% | -25.72% | -20.41% | -5.43% | -24.18% | 141.82% | 44.36% | -9.03% | 21.47% |
Correlation
The correlation between CGAEX and ICLN is 0.79, 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 | 0.79 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.82 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.83 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.81 |
Correlation (All Time) Calculated using the full available price history since Jun 26, 2008 | 0.82 |
The correlation between CGAEX and ICLN has been stable across timeframes, ranging from 0.79 to 0.83 - a consistent structural relationship.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
CGAEX vs. ICLN — Risk / Return Rank
CGAEX
ICLN
CGAEX vs. ICLN - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Calvert Global Energy Solutions Fund Class A (CGAEX) 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.
| CGAEX | ICLN | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.14 | ||
| Sortino ratioReturn per unit of downside risk | +0.05 | ||
| Omega ratioGain probability vs. loss probability | 1.52 | 1.48 | +0.04 |
| Calmar ratioReturn relative to maximum drawdown | 5.98 | 7.50 | -1.53 |
| Martin ratioReturn relative to average drawdown | 20.62 | 21.35 | -0.72 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
Loading charts...
Sharpe Ratios by Period
| CGAEX | ICLN | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 3.06 | 3.20 | -0.14 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.33 | 0.08 | +0.25 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.59 | 0.44 | +0.15 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.05 | -0.08 | +0.13 |
Drawdowns
CGAEX vs. ICLN - Drawdown Comparison
The maximum CGAEX drawdown since its inception was -76.34%, smaller than the maximum ICLN drawdown of -87.15%. Use the drawdown chart below to compare losses from any high point for CGAEX and ICLN.
Loading charts...
Drawdown Indicators
| CGAEX | ICLN | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -76.34% | -87.15% | +10.81% |
Max Drawdown (1Y)Largest decline over 1 year | -8.41% | -11.22% | +2.81% |
Max Drawdown (3Y)Largest decline over 3 years | -24.93% | -43.18% | +18.25% |
Max Drawdown (5Y)Largest decline over 5 years | -33.14% | -57.16% | +24.02% |
Max Drawdown (10Y)Largest decline over 10 years | -37.53% | -66.75% | +29.22% |
Current DrawdownCurrent decline from peak | -4.17% | -37.13% | +32.96% |
Average DrawdownAverage peak-to-trough decline | -50.64% | -66.61% | +15.97% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.43% | 3.94% | -1.51% |
Volatility
CGAEX vs. ICLN - Volatility Comparison
The current volatility for Calvert Global Energy Solutions Fund Class A (CGAEX) is 5.83%, while iShares Global Clean Energy ETF (ICLN) has a volatility of 9.53%. This indicates that CGAEX 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.
Loading charts...
Volatility by Period
| CGAEX | ICLN | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.83% | 9.53% | -3.70% |
Volatility (6M)Calculated over the trailing 6-month period | 12.93% | 20.21% | -7.28% |
Volatility (1Y)Calculated over the trailing 1-year period | 16.45% | 26.38% | -9.93% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 19.16% | 27.21% | -8.05% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 19.71% | 27.20% | -7.49% |
CGAEX vs. ICLN - Expense Ratio Comparison
CGAEX has a 1.24% expense ratio, which is higher than ICLN's 0.46% expense ratio.
Dividends
CGAEX vs. ICLN - Dividend Comparison
CGAEX's dividend yield for the trailing twelve months is around 0.42%, less than ICLN's 1.16% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
CGAEX Calvert Global Energy Solutions Fund Class A | 0.42% | 0.51% | 0.91% | 0.83% | 0.65% | 0.26% | 0.66% | 1.01% | 1.69% | 1.19% | 1.06% | 0.20% |
ICLN iShares Global Clean Energy ETF | 1.16% | 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
CGAEX and ICLN have a correlation of 0.79, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
ICLN has higher volatility (9.53%) compared to CGAEX (5.83%). In terms of maximum drawdown, CGAEX dropped -76.34% vs ICLN's -87.15%.
ICLN currently has the higher Sharpe Ratio (3.20 vs 3.06), 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.
Find the right allocation for CGAEX and ICLN
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer