ECLN vs. USCL

Last updated Jun 4, 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 - Benchmark TR Gross. ECLN is actively managed, while USCL is passively managed. Over the past year, ECLN returned 19.15% vs 20.82% for USCL. At a 0.33 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

In the year-to-date period, ECLN achieves a 12.15% return, which is significantly higher than USCL's 7.04% return.

ECLN

• 1D: -0.07%
• 1M: -2.95%
• YTD: 12.15%
• 6M: 10.16%
• 1Y: 19.15%
• 3Y*: 17.15%
• 5Y*: 11.85%
• 10Y*: —

USCL

• 1D: -0.85%
• 1M: 4.29%
• YTD: 7.04%
• 6M: 6.94%
• 1Y: 20.82%
• 3Y*: —
• 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	12.15%	16.78%	22.60%	-1.65%
USCL Ishares Climate Conscious & Transition MSCI USA ETF	7.04%	14.26%	27.04%	12.71%

Correlation

The correlation between ECLN and USCL is 0.23, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.23
Correlation (All Time) Calculated using the full available price history since Jun 9, 2023	0.33

The correlation between ECLN and USCL shifts across timeframes, from 0.23 (1 year) to 0.33 (all time), reflecting how their relationship changes across market environments.

ECLN vs. USCL - Sectors Allocation Comparison

Sectors	ECLN	USCL
Utilities	76.4%	2.4%
Energy	16.3%	3.5%
Industrials	6.8%	7.0%
Technology	0.5%	29.4%
Basic Materials	-	1.9%
Communication Services	-	12.7%
Consumer Cyclical	-	11.9%
Consumer Defensive	-	4.7%
Financial Services	-	13.6%
Healthcare	-	10.7%
Real Estate	-	2.3%

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

ECLN Risk / Return Rank: 59
ECLN Sharpe Ratio Rank: 53
ECLN Sortino Ratio Rank: 56
ECLN Omega Ratio Rank: 50
ECLN Calmar Ratio Rank: 76
ECLN Martin Ratio Rank: 59

USCL

USCL Risk / Return Rank: 47
USCL Sharpe Ratio Rank: 49
USCL Sortino Ratio Rank: 48
USCL Omega Ratio Rank: 48
USCL Calmar Ratio Rank: 41
USCL Martin Ratio Rank: 48

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.

	ECLN	USCL	Difference
Sharpe ratio: Return per unit of total volatility	1.83	1.73	+0.11
Sortino ratio: Return per unit of downside risk	2.68	2.40	+0.28
Omega ratio: Gain probability vs. loss probability	1.32	1.31	+0.01
Calmar ratio: Return relative to maximum drawdown	3.83	2.04	+1.79
Martin ratio: Return relative to average drawdown	10.36	8.09	+2.27
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

ECLN vs. USCL - Sharpe Ratio Comparison

The current ECLN Sharpe Ratio is 1.83, which is comparable to the USCL Sharpe Ratio of 1.73. The chart below compares the historical Sharpe Ratios of ECLN and USCL, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	ECLN	USCL	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.83	1.73	+0.11
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.84	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.67	1.40	-0.73

Drawdowns

ECLN vs. USCL - Drawdown Comparison

The maximum ECLN drawdown since its inception was -32.28%, which is greater than USCL's maximum drawdown of -19.00%. Use the drawdown chart below to compare losses from any high point for ECLN and USCL.

Drawdown Indicators

	ECLN	USCL	Difference
Max Drawdown Largest peak-to-trough decline	-32.28%	-19.00%	-13.28%
Max Drawdown (1Y) Largest decline over 1 year	-5.02%	-10.24%	+5.22%
Max Drawdown (3Y) Largest decline over 3 years	-14.68%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-19.88%	—	—
Current Drawdown Current decline from peak	-3.65%	-0.85%	-2.80%
Average Drawdown Average peak-to-trough decline	-4.99%	-2.27%	-2.72%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.86%	2.58%	-0.72%

Volatility

ECLN vs. USCL - Volatility Comparison

First Trust EIP Carbon Impact ETF (ECLN) has a higher volatility of 3.85% compared to Ishares Climate Conscious & Transition MSCI USA ETF (USCL) at 2.79%. This indicates that ECLN's price experiences larger fluctuations and is considered to be riskier than USCL based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	ECLN	USCL	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.85%	2.79%	+1.06%
Volatility (6M) Calculated over the trailing 6-month period	8.15%	9.04%	-0.89%
Volatility (1Y) Calculated over the trailing 1-year period	10.51%	12.13%	-1.62%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.22%	14.84%	-0.62%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.41%	14.84%	+2.57%

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's dividend yield for the trailing twelve months is around 1.83%, more than USCL's 1.07% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019
ECLN First Trust EIP Carbon Impact ETF	1.83%	1.97%	2.52%	2.54%	1.72%	1.66%	1.68%	0.71%
USCL Ishares Climate Conscious & Transition MSCI USA ETF	1.07%	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 0.23, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, ECLN or USCL?

ECLN has higher volatility (3.85%) compared to USCL (2.79%). In terms of maximum drawdown, ECLN dropped -32.28% vs USCL's -19.00%.

Which ETF is better, ECLN or USCL?

On 1-year performance, USCL leads with 20.82% vs 19.15% for ECLN. On fees, USCL is cheaper at 0.08% per year. On volatility, USCL has been the lower-risk option at 2.79%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, ECLN or USCL?

Over the 1-year period, USCL has performed better with a 20.82% return vs 19.15%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

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 1.83%, compared with 1.07% 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.

Which has better risk-adjusted returns?

ECLN currently has the higher Sharpe Ratio (1.83 vs 1.73), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.