ECLM.DE vs. FCO2.DE
ECLM.DE (HANetf iClima Global Decarbonisation Enablers UCITS ETF) and FCO2.DE (HANetf SparkChange Physical Carbon EUA ETC) are both exchange-traded funds - ECLM.DE is a Global Equities fund tracking the iClima Global Decarbonisation Enablers, while FCO2.DE is a Commodities fund tracking the EU Carbon Emission Allowances (EUA). Both are passively managed. Over the past 3 years, ECLM.DE returned 4.30%/yr vs -3.01%/yr for FCO2.DE. At a 0.16 correlation, their price movements are largely independent. ECLM.DE charges 0.65%/yr vs 0.89%/yr for FCO2.DE.
Performance
ECLM.DE vs. FCO2.DE - Performance Comparison
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Returns By Period
In the year-to-date period, ECLM.DE achieves a 18.15% return, which is significantly higher than FCO2.DE's -10.46% return.
ECLM.DE
- 1D
- -1.47%
- 1M
- 5.70%
- YTD
- 18.15%
- 6M
- 17.28%
- 1Y
- 37.06%
- 3Y*
- 4.30%
- 5Y*
- -0.34%
- 10Y*
- —
FCO2.DE
- 1D
- -2.02%
- 1M
- 1.82%
- YTD
- -10.46%
- 6M
- -8.30%
- 1Y
- 5.04%
- 3Y*
- -3.01%
- 5Y*
- —
- 10Y*
- —
ECLM.DE vs. FCO2.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
ECLM.DE HANetf iClima Global Decarbonisation Enablers UCITS ETF | 18.15% | 12.83% | -11.47% | 1.02% | -13.27% |
FCO2.DE HANetf SparkChange Physical Carbon EUA ETC | -10.46% | 20.70% | -11.00% | -5.14% | -0.32% |
Correlation
The correlation between ECLM.DE and FCO2.DE is 0.27, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.27 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.19 |
Correlation (All Time) Calculated using the full available price history since Jun 8, 2022 | 0.16 |
The correlation between ECLM.DE and FCO2.DE shifts across timeframes, from 0.16 (all time) to 0.27 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
ECLM.DE vs. FCO2.DE — Risk / Return Rank
ECLM.DE
FCO2.DE
ECLM.DE vs. FCO2.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for HANetf iClima Global Decarbonisation Enablers UCITS ETF (ECLM.DE) and HANetf SparkChange Physical Carbon EUA ETC (FCO2.DE). 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.
| ECLM.DE | FCO2.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.10 | ||
| Sortino ratioReturn per unit of downside risk | +1.58 | ||
| Omega ratioGain probability vs. loss probability | 1.32 | 1.06 | +0.27 |
| Calmar ratioReturn relative to maximum drawdown | 1.87 | 0.16 | +1.71 |
| Martin ratioReturn relative to average drawdown | 3.63 | 0.41 | +3.22 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| ECLM.DE | FCO2.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.29 | 0.19 | +1.10 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.01 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.10 | -0.07 | +0.17 |
Drawdowns
ECLM.DE vs. FCO2.DE - Drawdown Comparison
The maximum ECLM.DE drawdown since its inception was -49.88%, roughly equal to the maximum FCO2.DE drawdown of -48.49%. Use the drawdown chart below to compare losses from any high point for ECLM.DE and FCO2.DE.
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Drawdown Indicators
| ECLM.DE | FCO2.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -49.88% | -48.49% | -1.39% |
Max Drawdown (1Y)Largest decline over 1 year | -19.77% | -31.46% | +11.69% |
Max Drawdown (3Y)Largest decline over 3 years | -36.17% | -45.60% | +9.43% |
Max Drawdown (5Y)Largest decline over 5 years | -49.88% | — | — |
Current DrawdownCurrent decline from peak | -16.23% | -24.40% | +8.17% |
Average DrawdownAverage peak-to-trough decline | -24.19% | -23.38% | -0.81% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 10.19% | 12.41% | -2.22% |
Volatility
ECLM.DE vs. FCO2.DE - Volatility Comparison
HANetf iClima Global Decarbonisation Enablers UCITS ETF (ECLM.DE) has a higher volatility of 6.50% compared to HANetf SparkChange Physical Carbon EUA ETC (FCO2.DE) at 5.99%. This indicates that ECLM.DE's price experiences larger fluctuations and is considered to be riskier than FCO2.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| ECLM.DE | FCO2.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.50% | 5.99% | +0.51% |
Volatility (6M)Calculated over the trailing 6-month period | 13.35% | 22.94% | -9.59% |
Volatility (1Y)Calculated over the trailing 1-year period | 28.64% | 26.69% | +1.95% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 23.04% | 34.04% | -11.00% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 23.35% | 34.04% | -10.69% |
ECLM.DE vs. FCO2.DE - Expense Ratio Comparison
ECLM.DE has a 0.65% expense ratio, which is lower than FCO2.DE's 0.89% expense ratio.
Dividends
ECLM.DE vs. FCO2.DE - Dividend Comparison
Neither ECLM.DE nor FCO2.DE has paid dividends to shareholders.
Frequently Asked Questions
ECLM.DE and FCO2.DE have a correlation of 0.27, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, ECLM.DE is cheaper at 0.65% per year. The better choice depends on whether you care most about return, fees, risk, or income.
ECLM.DE is cheaper with a 0.65% expense ratio, compared with 0.89% for FCO2.DE.
ECLM.DE is categorized as Global Equities, while FCO2.DE is Commodities. ECLM.DE tracks iClima Global Decarbonisation Enablers, while FCO2.DE tracks EU Carbon Emission Allowances (EUA). Their fees differ too: 0.65% for ECLM.DE and 0.89% for FCO2.DE.
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