CTEX vs. RAYS

Last updated Aug 2, 2026

CTEX (ProShares S&P Kensho Cleantech ETF) and RAYS (Global X Solar ETF) are both Alternative Energy Equities funds - CTEX tracks the S&P Kensho Cleantech Index while RAYS tracks the Solactive Solar Index. Both are passively managed. CTEX charges 0.58%/yr vs 0.50%/yr for RAYS.

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.

Returns By Period

CTEX

• 1D: 0.05%
• 1M: -16.09%
• 6M: -14.26%
• YTD: -4.20%
• 1Y: 45.57%
• 3Y*: 1.78%
• 5Y*: —
• 10Y*: —
• ALL TIME*: -3.23%

RAYS

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

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
CTEX ProShares S&P Kensho Cleantech ETF	$35.29K	$31.66K	$63.75K
RAYS Global X Solar ETF	$0.00	$0.00	$0.00

CTEX vs. RAYS - Yearly Performance Comparison

	2026 (YTD)
CTEX ProShares S&P Kensho Cleantech ETF	-10.57%
RAYS Global X Solar ETF	0.00%

CTEX vs. RAYS - Sectors Allocation Comparison

Sectors	CTEX	RAYS
Industrials	45.1%	21.4%
Technology	38.1%	66.9%
Utilities	11.9%	6.8%
Consumer Cyclical	2.6%	4.0%
Energy	2.3%	-
Basic Materials	-	0.9%
Communication Services	-	-
Consumer Defensive	-	-
Financial Services	-	-
Healthcare	-	-
Real Estate	-	-

Return for Risk

CTEX vs. RAYS — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

CTEX

CTEX Risk / Return Rank: 36
CTEX Sharpe Ratio Rank: 37
CTEX Sortino Ratio Rank: 39
CTEX Omega Ratio Rank: 36
CTEX Calmar Ratio Rank: 32
CTEX Martin Ratio Rank: 34

RAYS

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

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.

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.

	CTEX	RAYS	Difference
Sharpe ratio: Return per unit of total volatility	0.91	—	—
Sortino ratio: Return per unit of downside risk	1.44	—	—
Omega ratio: Gain probability vs. loss probability	1.17	—	—
Calmar ratio: Return relative to maximum drawdown	1.09	—	—
Martin ratio: Return relative to average drawdown	3.44	—	—

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	-39.09%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-50.47%	—	—
Current Drawdown Current decline from peak	-34.34%	0.00%	-34.34%
Average Drawdown Average peak-to-trough decline	-41.28%	0.00%	-41.28%
Ulcer Index Depth and duration of drawdowns from previous peaks	12.38%	—	—

Volatility

Volatility by Period

	CTEX	RAYS	Difference
Volatility (1M) Calculated over the trailing 1-month period	15.81%	—	—
Volatility (6M) Calculated over the trailing 6-month period	35.40%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	46.84%	0.00%	+46.84%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	43.86%	0.00%	+43.86%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	43.86%	0.00%	+43.86%

CTEX vs. RAYS - Expense Ratio Comparison

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

Dividends

CTEX vs. RAYS - Dividend Comparison

CTEX's dividend yield for the trailing twelve months is around 2.18%, while RAYS has not paid dividends to shareholders.

Position	TTM	2025	2024	2023
CTEX ProShares S&P Kensho Cleantech ETF	2.18%	2.17%	0.57%	0.12%
RAYS Global X Solar ETF	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Which ETF is better, CTEX or RAYS?

On fees, RAYS is cheaper at 0.50% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, CTEX or RAYS?

RAYS is cheaper with a 0.50% expense ratio, compared with 0.58% for CTEX.

Which ETF pays a higher dividend yield, CTEX or RAYS?

CTEX has the higher dividend yield at 2.18%, compared with 0.00% for RAYS.

What is the main difference between CTEX and RAYS?

CTEX tracks S&P Kensho Cleantech Index, while RAYS tracks Solactive Solar Index. They also come from different issuers: ProShares and Global X. Their fees differ too: 0.58% for CTEX and 0.50% for RAYS.