CTEC vs. TAN

Last updated Jun 24, 2026

CTEC (Global X CleanTech ETF) and TAN (Invesco Solar ETF) are both Alternative Energy Equities funds - CTEC tracks the Indxx Global CleanTech Index while TAN tracks the MAC Global Solar Energy Index. Both are passively managed. Over the past 5 years, CTEC returned -7.77%/yr vs -7.06%/yr for TAN. Their correlation of 0.88 suggests significant overlap in exposure. CTEC charges 0.50%/yr vs 0.69%/yr for TAN.

Performance

CTEC vs. TAN - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Global X CleanTech ETF (CTEC) and Invesco Solar ETF (TAN). 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 higher than TAN's 19.22% return.

CTEC

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

TAN

• 1D: -4.17%
• 1M: -11.21%
• YTD: 19.22%
• 6M: 16.19%
• 1Y: 82.66%
• 3Y*: -4.69%
• 5Y*: -7.06%
• 10Y*: 12.35%

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

CTEC vs. TAN - 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%
TAN Invesco Solar ETF	19.22%	48.31%	-37.61%	-26.79%	-5.24%	-25.10%	48.94%

Correlation

The correlation between CTEC and TAN is 0.80, 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	0.80
Correlation (3Y) Calculated over the trailing 3-year period	0.85
Correlation (5Y) Calculated over the trailing 5-year period	0.88
Correlation (All Time) Calculated using the full available price history since Oct 29, 2020	0.88

The correlation between CTEC and TAN has been stable across timeframes, ranging from 0.80 to 0.88 - a consistent structural relationship.

CTEC vs. TAN - Sectors Allocation Comparison

Sectors	CTEC	TAN
Industrials	60.0%	2.3%
Technology	31.2%	65.1%
Energy	24.8%	57.3%
Consumer Cyclical	3.9%	-
Basic Materials	3.2%	-
Utilities	1.7%	29.2%
Communication Services	-	-
Consumer Defensive	-	-
Financial Services	-	3.5%
Healthcare	-	-
Real Estate	-	-

Return for Risk

CTEC vs. TAN — 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

TAN

TAN Risk / Return Rank: 68
TAN Sharpe Ratio Rank: 70
TAN Sortino Ratio Rank: 63
TAN Omega Ratio Rank: 55
TAN Calmar Ratio Rank: 79
TAN Martin Ratio Rank: 70

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. TAN - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Global X CleanTech ETF (CTEC) and Invesco Solar ETF (TAN). 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	TAN	Difference
Sharpe ratio: Return per unit of total volatility	2.61	2.16	+0.45
Sortino ratio: Return per unit of downside risk	3.03	2.81	+0.22
Omega ratio: Gain probability vs. loss probability	1.39	1.33	+0.06
Calmar ratio: Return relative to maximum drawdown	5.03	3.97	+1.06
Martin ratio: Return relative to average drawdown	13.11	12.49	+0.63

CTEC vs. TAN - Sharpe Ratio Comparison

The current CTEC Sharpe Ratio is 2.61, which is comparable to the TAN Sharpe Ratio of 2.16. The chart below compares the historical Sharpe Ratios of CTEC and TAN, 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. TAN - Drawdown Comparison

The maximum CTEC drawdown since its inception was -81.58%, smaller than the maximum TAN drawdown of -95.29%. Use the drawdown chart below to compare losses from any high point for CTEC and TAN.

Drawdown Indicators

	CTEC	TAN	Difference
Max Drawdown Largest peak-to-trough decline	-81.58%	-95.29%	+13.71%
Max Drawdown (1Y) Largest decline over 1 year	-19.39%	-20.94%	+1.55%
Max Drawdown (3Y) Largest decline over 3 years	-65.77%	-64.40%	-1.37%
Max Drawdown (5Y) Largest decline over 5 years	-76.46%	-73.95%	-2.51%
Max Drawdown (10Y) Largest decline over 10 years	—	-78.53%	—
Current Drawdown Current decline from peak	-53.45%	-73.11%	+19.66%
Average Drawdown Average peak-to-trough decline	-52.35%	-78.47%	+26.12%
Ulcer Index Depth and duration of drawdowns from previous peaks	7.43%	6.64%	+0.79%

Volatility

CTEC vs. TAN - Volatility Comparison

Global X CleanTech ETF (CTEC) and Invesco Solar ETF (TAN) have volatilities of 16.15% and 16.60%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	CTEC	TAN	Difference
Volatility (1M) Calculated over the trailing 1-month period	16.15%	16.60%	-0.45%
Volatility (6M) Calculated over the trailing 6-month period	27.21%	28.78%	-1.57%
Volatility (1Y) Calculated over the trailing 1-year period	37.40%	38.50%	-1.10%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	36.94%	40.14%	-3.20%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	38.09%	38.16%	-0.07%

CTEC vs. TAN - Expense Ratio Comparison

CTEC has a 0.50% expense ratio, which is lower than TAN's 0.69% expense ratio.

Dividends

CTEC vs. TAN - Dividend Comparison

CTEC's dividend yield for the trailing twelve months is around 0.61%, while TAN has not paid dividends to shareholders.

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%
TAN Invesco Solar ETF	0.00%	0.00%	0.50%	0.09%	0.00%	0.00%	0.09%	0.30%	0.69%	1.77%	5.04%	1.60%

Frequently Asked Questions

Can I hold both CTEC and TAN in my portfolio?

CTEC and TAN have a correlation of 0.80, 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 TAN?

TAN has higher volatility (16.60%) compared to CTEC (16.15%). In terms of maximum drawdown, CTEC dropped -81.58% vs TAN's -95.29%.

Which ETF is better, CTEC or TAN?

On 5-year performance, TAN leads with -7.06% vs -7.77% for CTEC. On fees, CTEC is cheaper at 0.50% per year. On volatility, CTEC has been the lower-risk option at 16.15%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, CTEC or TAN?

Over the 5-year period, TAN has performed better with a -7.06% 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 TAN?

CTEC is cheaper with a 0.50% expense ratio, compared with 0.69% for TAN.

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

CTEC has the higher dividend yield at 0.61%, compared with 0.00% for TAN.

What is the main difference between CTEC and TAN?

CTEC tracks Indxx Global CleanTech Index, while TAN tracks MAC Global Solar Energy Index. They also come from different issuers: Global X and Invesco. Their fees differ too: 0.50% for CTEC and 0.69% for TAN.

Which has better risk-adjusted returns?

CTEC currently has the higher Sharpe Ratio (2.61 vs 2.16), 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.