EYED.L vs. GCLX.L

Last updated Jun 5, 2026

EYED.L (iShares MSCI Europe Energy Sector UCITS ETF EUR (Dist)) and GCLX.L (Invesco Global Clean Energy UCITS ETF Acc) are both Energy Equities funds - EYED.L tracks the MSCI World/Energy NR USD while GCLX.L tracks the S&P Global Clean Energy TR USD. Both are passively managed. Over the past 3 years, EYED.L returned 17.65%/yr vs 5.24%/yr for GCLX.L. At a 0.26 correlation, their price movements are largely independent. EYED.L charges 0.18%/yr vs 0.60%/yr for GCLX.L.

Performance

EYED.L vs. GCLX.L - Performance Comparison

The chart below illustrates the hypothetical performance of a £10,000 investment in iShares MSCI Europe Energy Sector UCITS ETF EUR (Dist) (EYED.L) and Invesco Global Clean Energy UCITS ETF Acc (GCLX.L). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

EYED.L is traded in GBP, while GCLX.L is traded in GBp. To make them comparable, the GCLX.L values have been converted to GBP using the latest available exchange rates.

Returns By Period

In the year-to-date period, EYED.L achieves a 34.28% return, which is significantly lower than GCLX.L's 36.06% return.

EYED.L

• 1D: -1.18%
• 1M: -2.75%
• YTD: 34.28%
• 6M: 30.34%
• 1Y: 58.34%
• 3Y*: 17.65%
• 5Y*: —
• 10Y*: —

GCLX.L

• 1D: -0.90%
• 1M: 3.33%
• YTD: 36.06%
• 6M: 36.43%
• 1Y: 88.67%
• 3Y*: 5.24%
• 5Y*: -3.55%
• 10Y*: —

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

EYED.L vs. GCLX.L - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
EYED.L iShares MSCI Europe Energy Sector UCITS ETF EUR (Dist)	34.28%	20.20%	-10.02%	5.93%	5.36%
GCLX.L Invesco Global Clean Energy UCITS ETF Acc	36.06%	32.48%	-25.40%	-15.38%	-9.06%

Correlation

The correlation between EYED.L and GCLX.L is -0.01, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	-0.01
Correlation (3Y) Calculated over the trailing 3-year period	0.24
Correlation (All Time) Calculated using the full available price history since Oct 10, 2022	0.26

The correlation between EYED.L and GCLX.L shifts across timeframes, from -0.01 (1 year) to 0.26 (all time), reflecting how their relationship changes across market environments.

EYED.L vs. GCLX.L - Sectors Allocation Comparison

Sectors	EYED.L	GCLX.L
Energy	99.2%	13.6%
Communication Services	0.8%	-
Basic Materials	-	3.4%
Consumer Cyclical	-	10.2%
Consumer Defensive	-	0.9%
Financial Services	-	0.9%
Healthcare	-	-
Industrials	-	47.5%
Real Estate	-	-
Technology	-	6.8%
Utilities	-	16.1%

Return for Risk

EYED.L vs. GCLX.L — Risk / Return Rank

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

EYED.L

EYED.L Risk / Return Rank: 78
EYED.L Sharpe Ratio Rank: 81
EYED.L Sortino Ratio Rank: 69
EYED.L Omega Ratio Rank: 77
EYED.L Calmar Ratio Rank: 86
EYED.L Martin Ratio Rank: 77

GCLX.L

GCLX.L Risk / Return Rank: 95
GCLX.L Sharpe Ratio Rank: 96
GCLX.L Sortino Ratio Rank: 95
GCLX.L Omega Ratio Rank: 94
GCLX.L Calmar Ratio Rank: 95
GCLX.L Martin Ratio Rank: 94

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.

EYED.L vs. GCLX.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares MSCI Europe Energy Sector UCITS ETF EUR (Dist) (EYED.L) and Invesco Global Clean Energy UCITS ETF Acc (GCLX.L). 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.

	EYED.L	GCLX.L	Difference
Sharpe ratio: Return per unit of total volatility	2.60	4.21	-1.60
Sortino ratio: Return per unit of downside risk	3.09	4.95	-1.86
Omega ratio: Gain probability vs. loss probability	1.45	1.67	-0.21
Calmar ratio: Return relative to maximum drawdown	4.79	8.26	-3.48
Martin ratio: Return relative to average drawdown	14.52	27.52	-13.01
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

EYED.L vs. GCLX.L - Sharpe Ratio Comparison

The current EYED.L Sharpe Ratio is 2.60, which is lower than the GCLX.L Sharpe Ratio of 4.21. The chart below compares the historical Sharpe Ratios of EYED.L and GCLX.L, 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

	EYED.L	GCLX.L	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.60	4.21	-1.60
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	-0.14	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.67	-0.24	+0.91

Drawdowns

EYED.L vs. GCLX.L - Drawdown Comparison

The maximum EYED.L drawdown since its inception was -25.34%, smaller than the maximum GCLX.L drawdown of -69.45%. Use the drawdown chart below to compare losses from any high point for EYED.L and GCLX.L.

Drawdown Indicators

	EYED.L	GCLX.L	Difference
Max Drawdown Largest peak-to-trough decline	-25.34%	-69.45%	+44.11%
Max Drawdown (1Y) Largest decline over 1 year	-12.12%	-10.67%	-1.45%
Max Drawdown (3Y) Largest decline over 3 years	-25.34%	-52.84%	+27.50%
Max Drawdown (5Y) Largest decline over 5 years	—	-68.40%	—
Current Drawdown Current decline from peak	-7.53%	-29.12%	+21.59%
Average Drawdown Average peak-to-trough decline	-8.26%	-40.37%	+32.11%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.01%	3.21%	+0.80%

Volatility

EYED.L vs. GCLX.L - Volatility Comparison

iShares MSCI Europe Energy Sector UCITS ETF EUR (Dist) (EYED.L) and Invesco Global Clean Energy UCITS ETF Acc (GCLX.L) have volatilities of 8.43% and 8.47%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	EYED.L	GCLX.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	8.43%	8.47%	-0.04%
Volatility (6M) Calculated over the trailing 6-month period	18.97%	14.49%	+4.48%
Volatility (1Y) Calculated over the trailing 1-year period	22.35%	20.98%	+1.37%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	21.02%	25.59%	-4.57%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	21.02%	26.20%	-5.18%

EYED.L vs. GCLX.L - Expense Ratio Comparison

EYED.L has a 0.18% expense ratio, which is lower than GCLX.L's 0.60% expense ratio.

Dividends

EYED.L vs. GCLX.L - Dividend Comparison

EYED.L's dividend yield for the trailing twelve months is around 3.87%, while GCLX.L has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022
EYED.L iShares MSCI Europe Energy Sector UCITS ETF EUR (Dist)	3.87%	5.09%	5.79%	5.09%	0.00%
GCLX.L Invesco Global Clean Energy UCITS ETF Acc	0.00%	0.00%	0.00%	0.00%	0.01%

Frequently Asked Questions

Can I hold both EYED.L and GCLX.L in my portfolio?

EYED.L and GCLX.L have a correlation of -0.01, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, EYED.L or GCLX.L?

On fees, EYED.L is cheaper at 0.18% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, EYED.L or GCLX.L?

EYED.L is cheaper with a 0.18% expense ratio, compared with 0.60% for GCLX.L.

What is the main difference between EYED.L and GCLX.L?

EYED.L tracks MSCI World/Energy NR USD, while GCLX.L tracks S&P Global Clean Energy TR USD. They also come from different issuers: iShares and Invesco. Their fees differ too: 0.18% for EYED.L and 0.60% for GCLX.L.