ENLT vs. QCLN

Last updated Jun 24, 2026

ENLT (Enlight Renewable Energy Ltd. Ordinary Shares) is a stock, while QCLN (First Trust NASDAQ Clean Edge Green Energy Index Fund) is Alternative Energy Equities fund tracking the Nasdaq Clean Edge Green Energy Index. Over the past 3 years, ENLT returned 70.38%/yr vs 8.84%/yr for QCLN. At a 0.36 correlation, their price movements are largely independent.

Performance

ENLT vs. QCLN - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Enlight Renewable Energy Ltd. Ordinary Shares (ENLT) and First Trust NASDAQ Clean Edge Green Energy Index Fund (QCLN). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, ENLT achieves a 99.21% return, which is significantly higher than QCLN's 37.20% return.

ENLT

• 1D: 5.96%
• 1M: -1.83%
• YTD: 99.21%
• 6M: 100.58%
• 1Y: 316.56%
• 3Y*: 70.38%
• 5Y*: —
• 10Y*: —

QCLN

• 1D: -6.27%
• 1M: -3.52%
• YTD: 37.20%
• 6M: 31.57%
• 1Y: 92.03%
• 3Y*: 8.84%
• 5Y*: -1.13%
• 10Y*: 16.79%

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

ENLT vs. QCLN - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
ENLT Enlight Renewable Energy Ltd. Ordinary Shares	99.21%	163.61%	-9.90%	6.93%
QCLN First Trust NASDAQ Clean Edge Green Energy Index Fund	37.20%	31.81%	-18.86%	-23.56%

Correlation

The correlation between ENLT and QCLN is 0.43, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.43
Correlation (3Y) Calculated over the trailing 3-year period	0.37
Correlation (All Time) Calculated using the full available price history since Feb 10, 2023	0.36

Return for Risk

ENLT vs. QCLN — Risk / Return Rank

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

ENLT

ENLT Risk / Return Rank: 98
ENLT Sharpe Ratio Rank: 99
ENLT Sortino Ratio Rank: 97
ENLT Omega Ratio Rank: 96
ENLT Calmar Ratio Rank: 98
ENLT Martin Ratio Rank: 99

QCLN

QCLN Risk / Return Rank: 78
QCLN Sharpe Ratio Rank: 81
QCLN Sortino Ratio Rank: 66
QCLN Omega Ratio Rank: 64
QCLN Calmar Ratio Rank: 91
QCLN Martin Ratio Rank: 88

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.

ENLT vs. QCLN - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Enlight Renewable Energy Ltd. Ordinary Shares (ENLT) and First Trust NASDAQ Clean Edge Green Energy Index Fund (QCLN). 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.

	ENLT	QCLN	Difference
Sharpe ratio: Return per unit of total volatility	5.71	2.47	+3.24
Sortino ratio: Return per unit of downside risk	4.58	2.90	+1.68
Omega ratio: Gain probability vs. loss probability	1.61	1.37	+0.24
Calmar ratio: Return relative to maximum drawdown	12.74	5.64	+7.10
Martin ratio: Return relative to average drawdown	51.47	18.14	+33.33

ENLT vs. QCLN - Sharpe Ratio Comparison

The current ENLT Sharpe Ratio is 5.71, which is higher than the QCLN Sharpe Ratio of 2.47. The chart below compares the historical Sharpe Ratios of ENLT and QCLN, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

ENLT vs. QCLN - Drawdown Comparison

The maximum ENLT drawdown since its inception was -39.32%, smaller than the maximum QCLN drawdown of -76.18%. Use the drawdown chart below to compare losses from any high point for ENLT and QCLN.

Drawdown Indicators

	ENLT	QCLN	Difference
Max Drawdown Largest peak-to-trough decline	-39.32%	-76.18%	+36.86%
Max Drawdown (1Y) Largest decline over 1 year	-25.03%	-16.40%	-8.63%
Max Drawdown (3Y) Largest decline over 3 years	-39.17%	-56.08%	+16.91%
Max Drawdown (5Y) Largest decline over 5 years	—	-69.49%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-71.73%	—
Current Drawdown Current decline from peak	-15.70%	-29.12%	+13.42%
Average Drawdown Average peak-to-trough decline	-11.91%	-43.40%	+31.49%
Ulcer Index Depth and duration of drawdowns from previous peaks	6.18%	5.09%	+1.09%

Volatility

ENLT vs. QCLN - Volatility Comparison

Enlight Renewable Energy Ltd. Ordinary Shares (ENLT) has a higher volatility of 25.58% compared to First Trust NASDAQ Clean Edge Green Energy Index Fund (QCLN) at 17.77%. This indicates that ENLT's price experiences larger fluctuations and is considered to be riskier than QCLN based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	ENLT	QCLN	Difference
Volatility (1M) Calculated over the trailing 1-month period	25.58%	17.77%	+7.81%
Volatility (6M) Calculated over the trailing 6-month period	47.00%	29.96%	+17.04%
Volatility (1Y) Calculated over the trailing 1-year period	55.92%	37.45%	+18.47%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	45.29%	38.54%	+6.75%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	45.29%	35.21%	+10.08%

Dividends

ENLT vs. QCLN - Dividend Comparison

ENLT has not paid dividends to shareholders, while QCLN's dividend yield for the trailing twelve months is around 0.16%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
ENLT Enlight Renewable Energy Ltd. Ordinary Shares	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
QCLN First Trust NASDAQ Clean Edge Green Energy Index Fund	0.16%	0.25%	0.87%	0.76%	0.33%	0.01%	0.30%	0.85%	1.03%	0.45%	1.24%	0.72%

Frequently Asked Questions

Can I hold both ENLT and QCLN in my portfolio?

ENLT and QCLN have a correlation of 0.43, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, ENLT or QCLN?

ENLT has higher volatility (25.58%) compared to QCLN (17.77%). In terms of maximum drawdown, ENLT dropped -39.32% vs QCLN's -76.18%.

Which has better risk-adjusted returns?

ENLT currently has the higher Sharpe Ratio (5.71 vs 2.47), 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.