CTEK.L vs. GCEX.L
CTEK.L (Global X CleanTech UCITS ETF USD (Acc)) and GCEX.L (Invesco Global Clean Energy UCITS ETF USD (Dist)) are both Alternative Energy Equities funds - CTEK.L tracks the Indxx Global CleanTech v2 Index while GCEX.L tracks the WilderHill New Energy Global Innovation Index. Both are passively managed. Over the past 3 years, CTEK.L returned -7.53%/yr vs -1.64%/yr for GCEX.L. Their correlation of 0.90 suggests significant overlap in exposure. CTEK.L charges 0.50%/yr vs 0.60%/yr for GCEX.L.
Performance
CTEK.L vs. GCEX.L - Performance Comparison
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Different Trading Currencies
CTEK.L is traded in USD, while GCEX.L is traded in GBp. To make them comparable, the GCEX.L values have been converted to USD using the latest available exchange rates.
Returns By Period
In the year-to-date period, CTEK.L achieves a 6.99% return, which is significantly lower than GCEX.L's 12.09% return.
CTEK.L
- 1D
- -1.98%
- 1M
- -17.77%
- 6M
- -5.18%
- YTD
- 6.99%
- 1Y
- 39.87%
- 3Y*
- -7.53%
- 5Y*
- —
- 10Y*
- —
GCEX.L
- 1D
- -1.56%
- 1M
- -10.51%
- 6M
- 4.26%
- YTD
- 12.09%
- 1Y
- 36.15%
- 3Y*
- -1.64%
- 5Y*
- -7.47%
- 10Y*
- —
CTEK.L vs. GCEX.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
CTEK.L Global X CleanTech UCITS ETF USD (Acc) | 6.99% | 53.41% | -33.55% | -21.76% | -17.31% | -19.38% |
GCEX.L Invesco Global Clean Energy UCITS ETF USD (Dist) | 12.09% | 42.19% | -26.59% | -10.99% | -30.70% | -15.37% |
Correlation
The correlation between CTEK.L and GCEX.L 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 | 0.89 |
Correlation (All Time) Calculated using the full available price history since Nov 16, 2021 | 0.90 |
The correlation between CTEK.L and GCEX.L has been stable across timeframes, ranging from 0.89 to 0.90 - a consistent structural relationship.
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Return for Risk
CTEK.L vs. GCEX.L — Risk / Return Rank
CTEK.L
GCEX.L
CTEK.L vs. GCEX.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Global X CleanTech UCITS ETF USD (Acc) (CTEK.L) and Invesco Global Clean Energy UCITS ETF USD (Dist) (GCEX.L). 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.
| CTEK.L | GCEX.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.47 | ||
| Sortino ratioReturn per unit of downside risk | -0.45 | ||
| Omega ratioGain probability vs. loss probability | 1.18 | 1.26 | -0.07 |
| Calmar ratioReturn relative to maximum drawdown | 1.37 | 1.86 | -0.49 |
| Martin ratioReturn relative to average drawdown | 4.17 | 6.20 | -2.03 |
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Drawdowns
CTEK.L vs. GCEX.L - Drawdown Comparison
The maximum CTEK.L drawdown since its inception was -73.85%, smaller than the maximum GCEX.L drawdown of -79.96%. Use the drawdown chart below to compare losses from any high point for CTEK.L and GCEX.L.
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Drawdown Indicators
| CTEK.L | GCEX.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -73.85% | -79.96% | +6.11% |
Max Drawdown (1Y)Largest decline over 1 year | -28.89% | -19.30% | -9.59% |
Max Drawdown (3Y)Largest decline over 3 years | -63.73% | -53.27% | -10.46% |
Max Drawdown (5Y)Largest decline over 5 years | — | -69.81% | — |
Current DrawdownCurrent decline from peak | -43.11% | -59.83% | +16.72% |
Average DrawdownAverage peak-to-trough decline | -44.62% | -60.30% | +15.68% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 9.54% | 5.82% | +3.72% |
Volatility
CTEK.L vs. GCEX.L - Volatility Comparison
Global X CleanTech UCITS ETF USD (Acc) (CTEK.L) has a higher volatility of 13.53% compared to Invesco Global Clean Energy UCITS ETF USD (Dist) (GCEX.L) at 8.84%. This indicates that CTEK.L's price experiences larger fluctuations and is considered to be riskier than GCEX.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| CTEK.L | GCEX.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 13.53% | 8.84% | +4.69% |
Volatility (6M)Calculated over the trailing 6-month period | 28.76% | 18.79% | +9.97% |
Volatility (1Y)Calculated over the trailing 1-year period | 38.62% | 24.13% | +14.49% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 36.97% | 28.19% | +8.78% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 36.97% | 31.02% | +5.95% |
CTEK.L vs. GCEX.L - Expense Ratio Comparison
CTEK.L has a 0.50% expense ratio, which is lower than GCEX.L's 0.60% expense ratio.
Dividends
CTEK.L vs. GCEX.L - Dividend Comparison
CTEK.L has not paid dividends to shareholders, while GCEX.L's dividend yield for the trailing twelve months is around 1.43%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|---|
CTEK.L Global X CleanTech UCITS ETF USD (Acc) | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
GCEX.L Invesco Global Clean Energy UCITS ETF USD (Dist) | 1.43% | 2.07% | 1.38% | 0.69% | 0.09% | 0.19% |
Frequently Asked Questions
CTEK.L and GCEX.L 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.
On fees, CTEK.L is cheaper at 0.50% per year. The better choice depends on whether you care most about return, fees, risk, or income.
CTEK.L is cheaper with a 0.50% expense ratio, compared with 0.60% for GCEX.L.
CTEK.L tracks Indxx Global CleanTech v2 Index, while GCEX.L tracks WilderHill New Energy Global Innovation Index. They also come from different issuers: Global X and Invesco. Their fees differ too: 0.50% for CTEK.L and 0.60% for GCEX.L.
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