ELFY vs. ZAP

Last updated Jun 4, 2026

ELFY (ALPS Electrification Infrastructure ETF) and ZAP (Global X U.S. Electrification ETF) are both Utilities Equities funds - ELFY tracks the Ladenburg Thalmann Electrification Infrastructure Index while ZAP tracks the Global X U.S. Electrification Index. Both are passively managed. Over the past year, ELFY returned 47.53% vs 28.84% for ZAP. Their correlation of 0.82 suggests significant overlap in exposure. Both charge a 0.50% expense ratio.

Performance

ELFY vs. ZAP - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ALPS Electrification Infrastructure ETF (ELFY) and Global X U.S. Electrification ETF (ZAP). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, ELFY achieves a 29.07% return, which is significantly higher than ZAP's 15.14% return.

ELFY

• 1D: -0.67%
• 1M: 3.53%
• YTD: 29.07%
• 6M: 26.90%
• 1Y: 47.53%
• 3Y*: —
• 5Y*: —
• 10Y*: —

ZAP

• 1D: -0.63%
• 1M: -3.98%
• YTD: 15.14%
• 6M: 13.19%
• 1Y: 28.84%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

ELFY vs. ZAP - Yearly Performance Comparison

	2026 (YTD)	2025
ELFY ALPS Electrification Infrastructure ETF	29.07%	35.82%
ZAP Global X U.S. Electrification ETF	15.14%	25.11%

Correlation

The correlation between ELFY and ZAP is 0.83, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.83
Correlation (All Time) Calculated using the full available price history since Apr 11, 2025	0.82

The correlation between ELFY and ZAP has been stable across timeframes, ranging from 0.82 to 0.83 - a consistent structural relationship.

Return for Risk

ELFY vs. ZAP — Risk / Return Rank

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

ELFY

ELFY Risk / Return Rank: 79
ELFY Sharpe Ratio Rank: 77
ELFY Sortino Ratio Rank: 73
ELFY Omega Ratio Rank: 69
ELFY Calmar Ratio Rank: 90
ELFY Martin Ratio Rank: 86

ZAP

ZAP Risk / Return Rank: 60
ZAP Sharpe Ratio Rank: 56
ZAP Sortino Ratio Rank: 54
ZAP Omega Ratio Rank: 52
ZAP Calmar Ratio Rank: 78
ZAP Martin Ratio Rank: 58

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.

ELFY vs. ZAP - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ALPS Electrification Infrastructure ETF (ELFY) and Global X U.S. Electrification ETF (ZAP). 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.

	ELFY	ZAP	Difference
Sharpe ratio: Return per unit of total volatility	2.52	1.92	+0.61
Sortino ratio: Return per unit of downside risk	3.33	2.62	+0.71
Omega ratio: Gain probability vs. loss probability	1.42	1.33	+0.09
Calmar ratio: Return relative to maximum drawdown	5.70	4.01	+1.70
Martin ratio: Return relative to average drawdown	18.16	10.25	+7.91
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

ELFY vs. ZAP - Sharpe Ratio Comparison

The current ELFY Sharpe Ratio is 2.52, which is higher than the ZAP Sharpe Ratio of 1.92. The chart below compares the historical Sharpe Ratios of ELFY and ZAP, 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

	ELFY	ZAP	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.52	1.92	+0.61
Sharpe Ratio (All Time) Calculated using the full available price history	3.36	1.63	+1.72

Drawdowns

ELFY vs. ZAP - Drawdown Comparison

The maximum ELFY drawdown since its inception was -8.37%, smaller than the maximum ZAP drawdown of -12.38%. Use the drawdown chart below to compare losses from any high point for ELFY and ZAP.

Drawdown Indicators

	ELFY	ZAP	Difference
Max Drawdown Largest peak-to-trough decline	-8.37%	-12.38%	+4.01%
Max Drawdown (1Y) Largest decline over 1 year	-8.37%	-7.23%	-1.14%
Current Drawdown Current decline from peak	-0.67%	-4.11%	+3.44%
Average Drawdown Average peak-to-trough decline	-1.60%	-2.57%	+0.97%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.62%	2.83%	-0.21%

Volatility

ELFY vs. ZAP - Volatility Comparison

ALPS Electrification Infrastructure ETF (ELFY) has a higher volatility of 7.28% compared to Global X U.S. Electrification ETF (ZAP) at 6.28%. This indicates that ELFY's price experiences larger fluctuations and is considered to be riskier than ZAP based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	ELFY	ZAP	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.28%	6.28%	+1.00%
Volatility (6M) Calculated over the trailing 6-month period	14.87%	11.74%	+3.13%
Volatility (1Y) Calculated over the trailing 1-year period	18.98%	15.13%	+3.85%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.99%	16.91%	+2.08%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.99%	16.91%	+2.08%

ELFY vs. ZAP - Expense Ratio Comparison

Both ELFY and ZAP have an expense ratio of 0.50%.

Dividends

ELFY vs. ZAP - Dividend Comparison

ELFY's dividend yield for the trailing twelve months is around 0.82%, less than ZAP's 1.55% yield.

Position	TTM	2025	2024
ELFY ALPS Electrification Infrastructure ETF	0.82%	0.76%	0.00%
ZAP Global X U.S. Electrification ETF	1.55%	1.81%	0.00%

Frequently Asked Questions

Can I hold both ELFY and ZAP in my portfolio?

ELFY and ZAP have a correlation of 0.83, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, ELFY or ZAP?

ELFY has higher volatility (7.28%) compared to ZAP (6.28%). In terms of maximum drawdown, ELFY dropped -8.37% vs ZAP's -12.38%.

Which ETF is better, ELFY or ZAP?

On 1-year performance, ELFY leads with 47.53% vs 28.84% for ZAP. Both ETFs have the same 0.50% expense ratio. On volatility, ZAP has been the lower-risk option at 6.28%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, ELFY or ZAP?

Over the 1-year period, ELFY has performed better with a 47.53% return vs 28.84%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, ELFY or ZAP?

ELFY and ZAP have the same expense ratio: 0.50% per year.

Which ETF pays a higher dividend yield, ELFY or ZAP?

ZAP has the higher dividend yield at 1.55%, compared with 0.82% for ELFY.

What is the main difference between ELFY and ZAP?

ELFY tracks Ladenburg Thalmann Electrification Infrastructure Index, while ZAP tracks Global X U.S. Electrification Index. They also come from different issuers: ALPS and Global X.

Which has better risk-adjusted returns?

ELFY currently has the higher Sharpe Ratio (2.52 vs 1.92), 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.