ECLN vs. USCL

Last updated Jul 17, 2026

ECLN (First Trust EIP Carbon Impact ETF) and USCL (iShares Climate Conscious & Transition MSCI USA ETF) are both exchange-traded funds - ECLN is a Utilities Equities fund actively managed by First Trust, while USCL is a Large Cap Blend Equities fund tracking the MSCI USA Extended Climate Action Index. ECLN is actively managed, while USCL is passively managed. At a 0.32 correlation, their price movements are largely independent. ECLN charges 0.97%/yr vs 0.08%/yr for USCL.

Performance

ECLN vs. USCL - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in First Trust EIP Carbon Impact ETF (ECLN) and iShares Climate Conscious & Transition MSCI USA ETF (USCL). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

ECLN

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

USCL

• 1D: -0.53%
• 1M: 1.06%
• 6M: 6.65%
• YTD: 7.03%
• 1Y: 15.24%
• 3Y*: 18.26%
• 5Y*: —
• 10Y*: —

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

ECLN vs. USCL - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
ECLN First Trust EIP Carbon Impact ETF	12.96%	16.78%	22.60%	-1.38%
USCL iShares Climate Conscious & Transition MSCI USA ETF	7.03%	14.26%	27.04%	12.71%

Correlation

The correlation between ECLN and USCL is 0.17, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.17
Correlation (3Y) Calculated over the trailing 3-year period	0.32
Correlation (All Time) Calculated using the full available price history since Jun 8, 2023	0.32

The correlation between ECLN and USCL shifts across timeframes, from 0.17 (1 year) to 0.32 (all time), reflecting how their relationship changes across market environments.

ECLN vs. USCL - Sectors Allocation Comparison

Sectors	ECLN	USCL
Utilities	76.4%	2.0%
Energy	16.3%	1.8%
Industrials	6.8%	7.0%
Technology	0.5%	40.2%
Basic Materials	-	1.6%
Communication Services	-	11.6%
Consumer Cyclical	-	10.3%
Consumer Defensive	-	4.1%
Financial Services	-	9.6%
Healthcare	-	9.8%
Real Estate	-	1.8%

Return for Risk

ECLN vs. USCL — Risk / Return Rank

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

ECLN

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

USCL

USCL Risk / Return Rank: 39
USCL Sharpe Ratio Rank: 41
USCL Sortino Ratio Rank: 38
USCL Omega Ratio Rank: 39
USCL Calmar Ratio Rank: 35
USCL Martin Ratio Rank: 43

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.

ECLN vs. USCL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for First Trust EIP Carbon Impact ETF (ECLN) and iShares Climate Conscious & Transition MSCI USA ETF (USCL). 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.

	ECLN	USCL	Difference
Sharpe ratio: Return per unit of total volatility	—	1.21	—
Sortino ratio: Return per unit of downside risk	—	1.69	—
Omega ratio: Gain probability vs. loss probability	—	1.22	—
Calmar ratio: Return relative to maximum drawdown	—	1.50	—
Martin ratio: Return relative to average drawdown	—	5.58	—

Drawdowns

Drawdown Indicators

	ECLN	USCL	Difference
Max Drawdown Largest peak-to-trough decline	—	-19.00%	—
Max Drawdown (1Y) Largest decline over 1 year	—	-10.24%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-19.00%	—
Current Drawdown Current decline from peak	—	-0.87%	—
Average Drawdown Average peak-to-trough decline	—	-2.27%	—
Ulcer Index Depth and duration of drawdowns from previous peaks	—	2.74%	—

Volatility

Volatility by Period

	ECLN	USCL	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	3.41%	—
Volatility (6M) Calculated over the trailing 6-month period	—	10.00%	—
Volatility (1Y) Calculated over the trailing 1-year period	—	12.70%	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	—	14.85%	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	—	14.85%	—

ECLN vs. USCL - Expense Ratio Comparison

ECLN has a 0.97% expense ratio, which is higher than USCL's 0.08% expense ratio.

Dividends

ECLN vs. USCL - Dividend Comparison

ECLN has not paid dividends to shareholders, while USCL's dividend yield for the trailing twelve months is around 1.09%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019
ECLN First Trust EIP Carbon Impact ETF	1.43%	1.97%	2.52%	2.54%	1.72%	1.66%	1.68%	0.71%
USCL iShares Climate Conscious & Transition MSCI USA ETF	1.09%	1.10%	1.18%	0.85%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both ECLN and USCL in my portfolio?

ECLN and USCL have a correlation of 0.17, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, ECLN or USCL?

On fees, USCL is cheaper at 0.08% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, ECLN or USCL?

USCL is cheaper with a 0.08% expense ratio, compared with 0.97% for ECLN.

Which ETF pays a higher dividend yield, ECLN or USCL?

ECLN has the higher dividend yield at 1.43%, compared with 1.09% for USCL.

What is the main difference between ECLN and USCL?

ECLN is categorized as Utilities Equities, while USCL is Large Cap Blend Equities. They also come from different issuers: First Trust and iShares. Their fees differ too: 0.97% for ECLN and 0.08% for USCL.