EMNE.DE vs. ICLN
EMNE.DE (iShares MSCI EMU CTB Enhanced ESG UCITS ETF EUR (Dist)) and ICLN (iShares Global Clean Energy ETF) are both exchange-traded funds - EMNE.DE is a Europe Equities fund tracking the MSCI EMU ESG Enhanced Focus CTB Index, while ICLN is a Alternative Energy Equities fund tracking the S&P Global Clean Energy Index. Both are passively managed. Over the past 5 years, EMNE.DE returned 10.42%/yr vs -2.61%/yr for ICLN. At a 0.32 correlation, their price movements are largely independent. EMNE.DE charges 0.12%/yr vs 0.39%/yr for ICLN.
Performance
EMNE.DE vs. ICLN - Performance Comparison
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Different Trading Currencies
EMNE.DE is traded in EUR, while ICLN is traded in USD. To make them comparable, the ICLN values have been converted to EUR using the latest available exchange rates.
Returns By Period
In the year-to-date period, EMNE.DE achieves a 9.92% return, which is significantly lower than ICLN's 13.92% return.
EMNE.DE
- 1D
- 0.22%
- 1M
- -2.09%
- 6M
- 8.22%
- YTD
- 9.92%
- 1Y
- 18.82%
- 3Y*
- 14.84%
- 5Y*
- 10.42%
- 10Y*
- —
- ALL TIME*
- 11.44%
ICLN
- 1D
- -1.05%
- 1M
- -13.67%
- 6M
- 4.42%
- YTD
- 13.92%
- 1Y
- 37.43%
- 3Y*
- -0.43%
- 5Y*
- -2.61%
- 10Y*
- 8.45%
- ALL TIME*
- -2.06%
EMNE.DE vs. ICLN - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
EMNE.DE iShares MSCI EMU CTB Enhanced ESG UCITS ETF EUR (Dist) | 9.92% | 22.18% | 9.86% | 18.79% | -12.35% | 22.75% | 1.44% | 16.09% |
ICLN iShares Global Clean Energy ETF | 13.92% | 29.60% | -20.81% | -22.79% | 0.43% | -18.51% | 121.89% | 25.19% |
Correlation
The correlation between EMNE.DE and ICLN is 0.40, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.40 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.36 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.37 |
Correlation (All Time) Calculated using the full available price history since Mar 8, 2019 | 0.32 |
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Return for Risk
EMNE.DE vs. ICLN — Risk / Return Rank
EMNE.DE
ICLN
EMNE.DE vs. ICLN - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares MSCI EMU CTB Enhanced ESG UCITS ETF EUR (Dist) (EMNE.DE) and iShares Global Clean Energy ETF (ICLN). 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.
| EMNE.DE | ICLN | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.05 | ||
| Sortino ratioReturn per unit of downside risk | +0.05 | ||
| Omega ratioGain probability vs. loss probability | 1.24 | 1.22 | +0.02 |
| Calmar ratioReturn relative to maximum drawdown | 1.72 | 1.71 | +0.01 |
| Martin ratioReturn relative to average drawdown | 6.34 | 5.72 | +0.62 |
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Drawdowns
EMNE.DE vs. ICLN - Drawdown Comparison
The maximum EMNE.DE drawdown since its inception was -34.37%, smaller than the maximum ICLN drawdown of -84.40%. Use the drawdown chart below to compare losses from any high point for EMNE.DE and ICLN.
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Drawdown Indicators
| EMNE.DE | ICLN | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -34.37% | -84.40% | +50.03% |
Max Drawdown (1Y)Largest decline over 1 year | -10.90% | -21.97% | +11.07% |
Max Drawdown (3Y)Largest decline over 3 years | -15.10% | -41.70% | +26.60% |
Max Drawdown (5Y)Largest decline over 5 years | -24.70% | -57.06% | +32.36% |
Max Drawdown (10Y)Largest decline over 10 years | — | -62.76% | — |
Current DrawdownCurrent decline from peak | -2.73% | -37.30% | +34.57% |
Average DrawdownAverage peak-to-trough decline | -5.19% | -57.84% | +52.65% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.96% | 6.56% | -3.60% |
Volatility
EMNE.DE vs. ICLN - Volatility Comparison
The current volatility for iShares MSCI EMU CTB Enhanced ESG UCITS ETF EUR (Dist) (EMNE.DE) is 3.80%, while iShares Global Clean Energy ETF (ICLN) has a volatility of 11.31%. This indicates that EMNE.DE experiences smaller price fluctuations and is considered to be less risky than ICLN based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| EMNE.DE | ICLN | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.80% | 11.31% | -7.51% |
Volatility (6M)Calculated over the trailing 6-month period | 12.63% | 23.54% | -10.91% |
Volatility (1Y)Calculated over the trailing 1-year period | 14.93% | 28.71% | -13.78% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.24% | 26.36% | -10.12% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 19.98% | 26.71% | -6.73% |
EMNE.DE vs. ICLN - Expense Ratio Comparison
EMNE.DE has a 0.12% expense ratio, which is lower than ICLN's 0.39% expense ratio.
Dividends
EMNE.DE vs. ICLN - Dividend Comparison
EMNE.DE's dividend yield for the trailing twelve months is around 2.39%, more than ICLN's 1.02% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
EMNE.DE iShares MSCI EMU CTB Enhanced ESG UCITS ETF EUR (Dist) | 2.39% | 2.61% | 2.95% | 3.17% | 3.34% | 2.40% | 1.85% | 2.67% | 0.00% | 0.00% | 0.00% | 0.00% |
ICLN iShares Global Clean Energy ETF | 1.02% | 1.63% | 1.85% | 1.59% | 0.89% | 1.18% | 0.34% | 1.36% | 2.77% | 2.49% | 3.88% | 2.36% |
Frequently Asked Questions
EMNE.DE and ICLN have a correlation of 0.40, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, EMNE.DE is cheaper at 0.12% per year. The better choice depends on whether you care most about return, fees, risk, or income.
EMNE.DE is cheaper with a 0.12% expense ratio, compared with 0.39% for ICLN.
EMNE.DE is categorized as Europe Equities, while ICLN is Alternative Energy Equities. EMNE.DE tracks MSCI EMU ESG Enhanced Focus CTB Index, while ICLN tracks S&P Global Clean Energy Index. Their fees differ too: 0.12% for EMNE.DE and 0.39% for ICLN.
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