CTEX vs. RAYS

Last updated Apr 2, 2026

Compare and contrast key facts about ProShares S&P Kensho Cleantech ETF (CTEX) and Global X Solar ETF (RAYS).

CTEX and RAYS are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. CTEX is a passively managed fund by ProShares that tracks the performance of the S&P Kensho Cleantech Index. It was launched on Sep 29, 2021. RAYS is a passively managed fund by Global X that tracks the performance of the Solactive Solar Index. It was launched on Sep 8, 2021. Both CTEX and RAYS are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.

Performance

CTEX vs. RAYS - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ProShares S&P Kensho Cleantech ETF (CTEX) and Global X Solar ETF (RAYS). The values are adjusted to include any dividend payments, if applicable.

CTEX vs. RAYS - Yearly Performance Comparison

	2026 (YTD)
CTEX ProShares S&P Kensho Cleantech ETF	-12.00%
RAYS Global X Solar ETF	0.00%

Returns By Period

CTEX

• 1D: 1.50%
• 1M: -4.96%
• YTD: -1.03%
• 6M: 9.25%
• 1Y: 101.54%
• 3Y*: 2.06%
• 5Y*: —
• 10Y*: —

RAYS

• 1D: 0.00%
• 1M: 0.00%
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

CTEX vs. RAYS - Expense Ratio Comparison

CTEX has a 0.58% expense ratio, which is higher than RAYS's 0.50% expense ratio.

CTEX

ProShares S&P Kensho Cleantech ETF

RAYS

Global X Solar ETF

Return for Risk

CTEX vs. RAYS — Risk / Return Rank

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

CTEX

CTEX Risk / Return Rank: 92
CTEX Sharpe Ratio Rank: 94
CTEX Sortino Ratio Rank: 91
CTEX Omega Ratio Rank: 84
CTEX Calmar Ratio Rank: 96
CTEX Martin Ratio Rank: 92

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.

CTEX vs. RAYS - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ProShares S&P Kensho Cleantech ETF (CTEX) and Global X Solar ETF (RAYS). 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.

	CTEX	RAYS	Difference
Sharpe ratio Return per unit of total volatility	2.34	—	—
Sortino ratio Return per unit of downside risk	2.74	—	—
Omega ratio Gain probability vs. loss probability	1.35	—	—
Calmar ratio Return relative to maximum drawdown	4.83	—	—
Martin ratio Return relative to average drawdown	13.76	—	—
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

Sharpe Ratios by Period

	CTEX	RAYS	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.34	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	-0.06	—	—

Dividends

CTEX vs. RAYS - Dividend Comparison

CTEX's dividend yield for the trailing twelve months is around 2.11%, while RAYS has not paid dividends to shareholders.

	TTM	2025	2024	2023
CTEX ProShares S&P Kensho Cleantech ETF	2.11%	2.17%	0.57%	0.12%
RAYS Global X Solar ETF	0.00%	0.00%	0.00%	0.00%

Drawdowns

CTEX vs. RAYS - Drawdown Comparison

The maximum CTEX drawdown since its inception was -70.31%, which is greater than RAYS's maximum drawdown of 0.00%. Use the drawdown chart below to compare losses from any high point for CTEX and RAYS.

Drawdown Indicators

	CTEX	RAYS	Difference
Max Drawdown Largest peak-to-trough decline	-70.31%	0.00%	-70.31%
Max Drawdown (1Y) Largest decline over 1 year	-21.62%	—	—
Current Drawdown Current decline from peak	-30.09%	0.00%	-30.09%
Average Drawdown Average peak-to-trough decline	-42.86%	0.00%	-42.86%
Ulcer Index Depth and duration of drawdowns from previous peaks	7.59%	—	—

Volatility

Volatility by Period

	CTEX	RAYS	Difference
Volatility (1M) Calculated over the trailing 1-month period	12.29%	—	—
Volatility (6M) Calculated over the trailing 6-month period	33.73%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	43.72%	0.00%	+43.72%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	43.16%	0.00%	+43.16%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	43.16%	0.00%	+43.16%