CTEC vs. ICLN

Last updated Jun 24, 2026

CTEC (Global X CleanTech ETF) and ICLN (iShares Global Clean Energy ETF) are both Alternative Energy Equities funds - CTEC tracks the Indxx Global CleanTech Index while ICLN tracks the S&P Global Clean Energy Index. Both are passively managed. Over the past 5 years, CTEC returned -7.77%/yr vs -0.79%/yr for ICLN. Their correlation of 0.89 suggests significant overlap in exposure. CTEC charges 0.50%/yr vs 0.39%/yr for ICLN.

Performance

CTEC vs. ICLN - Performance Comparison

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

Returns By Period

In the year-to-date period, CTEC achieves a 22.71% return, which is significantly lower than ICLN's 26.14% return.

CTEC

• 1D: -6.61%
• 1M: -11.86%
• YTD: 22.71%
• 6M: 19.40%
• 1Y: 97.04%
• 3Y*: -1.56%
• 5Y*: -7.77%
• 10Y*: —

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%

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

CTEC vs. ICLN - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
CTEC Global X CleanTech ETF	22.71%	57.85%	-36.35%	-25.60%	-16.82%	-22.19%	44.74%
ICLN iShares Global Clean Energy ETF	26.14%	47.05%	-25.72%	-20.41%	-5.43%	-24.18%	46.20%

Correlation

The correlation between CTEC and ICLN is 0.89, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.89
Correlation (3Y) Calculated over the trailing 3-year period	0.86
Correlation (5Y) Calculated over the trailing 5-year period	0.89
Correlation (All Time) Calculated using the full available price history since Oct 29, 2020	0.89

The correlation between CTEC and ICLN has been stable across timeframes, ranging from 0.86 to 0.89 - a consistent structural relationship.

CTEC vs. ICLN - Sectors Allocation Comparison

Sectors	CTEC	ICLN
Industrials	60.0%	28.7%
Technology	31.2%	10.5%
Energy	24.8%	23.7%
Consumer Cyclical	3.9%	0.1%
Basic Materials	3.2%	1.3%
Utilities	1.7%	34.6%
Communication Services	-	-
Consumer Defensive	-	-
Financial Services	-	-
Healthcare	-	-
Real Estate	-	-

Return for Risk

CTEC vs. ICLN — Risk / Return Rank

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

CTEC

CTEC Risk / Return Rank: 78
CTEC Sharpe Ratio Rank: 85
CTEC Sortino Ratio Rank: 71
CTEC Omega Ratio Rank: 70
CTEC Calmar Ratio Rank: 89
CTEC Martin Ratio Rank: 74

ICLN

ICLN Risk / Return Rank: 70
ICLN Sharpe Ratio Rank: 74
ICLN Sortino Ratio Rank: 64
ICLN Omega Ratio Rank: 60
ICLN Calmar Ratio Rank: 79
ICLN Martin Ratio Rank: 75

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.

CTEC vs. ICLN - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Global X CleanTech ETF (CTEC) 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.

	CTEC	ICLN	Difference
Sharpe ratio: Return per unit of total volatility	2.61	2.27	+0.34
Sortino ratio: Return per unit of downside risk	3.03	2.84	+0.19
Omega ratio: Gain probability vs. loss probability	1.39	1.36	+0.03
Calmar ratio: Return relative to maximum drawdown	5.03	3.96	+1.08
Martin ratio: Return relative to average drawdown	13.11	13.73	-0.61

CTEC vs. ICLN - Sharpe Ratio Comparison

The current CTEC Sharpe Ratio is 2.61, which is comparable to the ICLN Sharpe Ratio of 2.27. The chart below compares the historical Sharpe Ratios of CTEC and ICLN, 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

CTEC vs. ICLN - Drawdown Comparison

The maximum CTEC drawdown since its inception was -81.58%, smaller than the maximum ICLN drawdown of -87.15%. Use the drawdown chart below to compare losses from any high point for CTEC and ICLN.

Drawdown Indicators

	CTEC	ICLN	Difference
Max Drawdown Largest peak-to-trough decline	-81.58%	-87.15%	+5.57%
Max Drawdown (1Y) Largest decline over 1 year	-19.39%	-16.38%	-3.01%
Max Drawdown (3Y) Largest decline over 3 years	-65.77%	-43.18%	-22.59%
Max Drawdown (5Y) Largest decline over 5 years	-76.46%	-57.16%	-19.30%
Max Drawdown (10Y) Largest decline over 10 years	—	-66.75%	—
Current Drawdown Current decline from peak	-53.45%	-43.56%	-9.89%
Average Drawdown Average peak-to-trough decline	-52.35%	-66.53%	+14.18%
Ulcer Index Depth and duration of drawdowns from previous peaks	7.43%	4.71%	+2.72%

Volatility

CTEC vs. ICLN - Volatility Comparison

Global X CleanTech ETF (CTEC) has a higher volatility of 16.15% compared to iShares Global Clean Energy ETF (ICLN) at 13.47%. This indicates that CTEC's price experiences larger fluctuations and is considered to be riskier than ICLN based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	CTEC	ICLN	Difference
Volatility (1M) Calculated over the trailing 1-month period	16.15%	13.47%	+2.68%
Volatility (6M) Calculated over the trailing 6-month period	27.21%	23.14%	+4.07%
Volatility (1Y) Calculated over the trailing 1-year period	37.40%	28.52%	+8.88%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	36.94%	27.69%	+9.25%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	38.09%	27.33%	+10.76%

CTEC vs. ICLN - Expense Ratio Comparison

CTEC has a 0.50% expense ratio, which is higher than ICLN's 0.39% expense ratio.

Dividends

CTEC vs. ICLN - Dividend Comparison

CTEC's dividend yield for the trailing twelve months is around 0.61%, less than ICLN's 0.89% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
CTEC Global X CleanTech ETF	0.61%	0.75%	1.56%	0.51%	0.25%	0.39%	0.02%	0.00%	0.00%	0.00%	0.00%	0.00%
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

Can I hold both CTEC and ICLN in my portfolio?

CTEC and ICLN have a correlation of 0.89, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, CTEC or ICLN?

CTEC has higher volatility (16.15%) compared to ICLN (13.47%). In terms of maximum drawdown, CTEC dropped -81.58% vs ICLN's -87.15%.

Which ETF is better, CTEC or ICLN?

On 5-year performance, ICLN leads with -0.79% vs -7.77% for CTEC. On fees, ICLN is cheaper at 0.39% per year. On volatility, ICLN has been the lower-risk option at 13.47%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, CTEC or ICLN?

Over the 5-year period, ICLN has performed better with a -0.79% return vs -7.77%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, CTEC or ICLN?

ICLN is cheaper with a 0.39% expense ratio, compared with 0.50% for CTEC.

Which ETF pays a higher dividend yield, CTEC or ICLN?

ICLN has the higher dividend yield at 0.89%, compared with 0.61% for CTEC.

What is the main difference between CTEC and ICLN?

CTEC tracks Indxx Global CleanTech Index, while ICLN tracks S&P Global Clean Energy Index. They also come from different issuers: Global X and iShares. Their fees differ too: 0.50% for CTEC and 0.39% for ICLN.

Which has better risk-adjusted returns?

CTEC currently has the higher Sharpe Ratio (2.61 vs 2.27), 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.