DVXE vs. RAYS

Last updated Aug 1, 2026

DVXE (WEBs Energy XLE Defined Volatility ETF) and RAYS (Global X Solar ETF) are both exchange-traded funds - DVXE is a Energy Equities fund tracking the Syntax Defined Volatility XLE Index, while RAYS is a Alternative Energy Equities fund tracking the Solactive Solar Index. Both are passively managed. DVXE charges 0.89%/yr vs 0.50%/yr for RAYS.

Performance

DVXE vs. RAYS - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in WEBs Energy XLE Defined Volatility ETF (DVXE) and Global X Solar ETF (RAYS). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

DVXE

• 1D: 1.38%
• 1M: 15.67%
• 6M: 26.93%
• YTD: 50.61%
• 1Y: 61.29%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 55.89%

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)
DVXE WEBs Energy XLE Defined Volatility ETF	$14.59K	$12.40K	$16.43K
RAYS Global X Solar ETF	$0.00	$0.00	$0.00

DVXE vs. RAYS - Yearly Performance Comparison

	2026 (YTD)
DVXE WEBs Energy XLE Defined Volatility ETF	23.15%
RAYS Global X Solar ETF	0.00%

Return for Risk

DVXE vs. RAYS — Risk / Return Rank

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

DVXE

DVXE Risk / Return Rank: 68
DVXE Sharpe Ratio Rank: 79
DVXE Sortino Ratio Rank: 70
DVXE Omega Ratio Rank: 68
DVXE Calmar Ratio Rank: 73
DVXE Martin Ratio Rank: 51

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.

DVXE vs. RAYS - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for WEBs Energy XLE Defined Volatility ETF (DVXE) 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.

	DVXE	RAYS	Difference
Sharpe ratio: Return per unit of total volatility	1.83	—	—
Sortino ratio: Return per unit of downside risk	2.31	—	—
Omega ratio: Gain probability vs. loss probability	1.29	—	—
Calmar ratio: Return relative to maximum drawdown	2.59	—	—
Martin ratio: Return relative to average drawdown	6.05	—	—

Drawdowns

DVXE vs. RAYS - Drawdown Comparison

The maximum DVXE drawdown since its inception was -21.83%, which is greater than RAYS's maximum drawdown of 0.00%. Use the drawdown chart below to compare losses from any high point for DVXE and RAYS.

Drawdown Indicators

	DVXE	RAYS	Difference
Max Drawdown Largest peak-to-trough decline	-21.83%	0.00%	-21.83%
Max Drawdown (1Y) Largest decline over 1 year	-21.83%	—	—
Current Drawdown Current decline from peak	-8.57%	0.00%	-8.57%
Average Drawdown Average peak-to-trough decline	-7.25%	0.00%	-7.25%
Ulcer Index Depth and duration of drawdowns from previous peaks	9.37%	—	—

Volatility

Volatility by Period

	DVXE	RAYS	Difference
Volatility (1M) Calculated over the trailing 1-month period	8.29%	—	—
Volatility (6M) Calculated over the trailing 6-month period	22.36%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	30.92%	0.00%	+30.92%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	30.78%	0.00%	+30.78%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	30.78%	0.00%	+30.78%

DVXE vs. RAYS - Expense Ratio Comparison

DVXE has a 0.89% expense ratio, which is higher than RAYS's 0.50% expense ratio.

Dividends

DVXE vs. RAYS - Dividend Comparison

Neither DVXE nor RAYS has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Which ETF is better, DVXE 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, DVXE or RAYS?

RAYS is cheaper with a 0.50% expense ratio, compared with 0.89% for DVXE.

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

DVXE and RAYS have nearly identical dividend yields, around 0.00%.

What is the main difference between DVXE and RAYS?

DVXE is categorized as Energy Equities, while RAYS is Alternative Energy Equities. DVXE tracks Syntax Defined Volatility XLE Index, while RAYS tracks Solactive Solar Index. They also come from different issuers: WEBs and Global X. Their fees differ too: 0.89% for DVXE and 0.50% for RAYS.