FAN vs. RAYS

Last updated Jun 24, 2026

FAN (First Trust Global Wind Energy ETF) and RAYS (Global X Solar ETF) are both Alternative Energy Equities funds - FAN tracks the ISE Clean Edge Global Wind Energy Index while RAYS tracks the Solactive Solar Index. Both are passively managed. FAN charges 0.62%/yr vs 0.50%/yr for RAYS.

Performance

FAN vs. RAYS - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in First Trust Global Wind Energy ETF (FAN) and Global X Solar ETF (RAYS). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

FAN

• 1D: -2.65%
• 1M: -5.81%
• YTD: 20.47%
• 6M: 20.15%
• 1Y: 38.86%
• 3Y*: 14.67%
• 5Y*: 4.21%
• 10Y*: 9.88%

RAYS

• 1D: 0.00%
• 1M: 0.00%
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

FAN vs. RAYS - Yearly Performance Comparison

	2026 (YTD)
FAN First Trust Global Wind Energy ETF	10.98%
RAYS Global X Solar ETF	0.00%

FAN vs. RAYS - Sectors Allocation Comparison

Sectors	FAN	RAYS
Utilities	55.7%	6.8%
Industrials	41.3%	21.4%
Consumer Cyclical	1.7%	4.0%
Energy	1.1%	-
Basic Materials	0.3%	0.9%
Communication Services	-	-
Consumer Defensive	-	-
Financial Services	-	-
Healthcare	-	-
Real Estate	-	-
Technology	-	66.9%

Return for Risk

FAN vs. RAYS — Risk / Return Rank

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

FAN

FAN Risk / Return Rank: 63
FAN Sharpe Ratio Rank: 61
FAN Sortino Ratio Rank: 57
FAN Omega Ratio Rank: 55
FAN Calmar Ratio Rank: 73
FAN Martin Ratio Rank: 67

RAYS

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

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.

FAN vs. RAYS - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for First Trust Global Wind Energy ETF (FAN) and Global X Solar ETF (RAYS). 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.

	FAN	RAYS	Difference
Sharpe ratio: Return per unit of total volatility	1.91	—	—
Sortino ratio: Return per unit of downside risk	2.57	—	—
Omega ratio: Gain probability vs. loss probability	1.32	—	—
Calmar ratio: Return relative to maximum drawdown	3.51	—	—
Martin ratio: Return relative to average drawdown	11.64	—	—

Drawdowns

FAN vs. RAYS - Drawdown Comparison

The maximum FAN drawdown since its inception was -79.94%, which is greater than RAYS's maximum drawdown of 0.00%. Use the drawdown chart below to compare losses from any high point for FAN and RAYS.

Drawdown Indicators

	FAN	RAYS	Difference
Max Drawdown Largest peak-to-trough decline	-79.94%	0.00%	-79.94%
Max Drawdown (1Y) Largest decline over 1 year	-11.13%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-24.46%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-38.45%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-46.29%	—	—
Current Drawdown Current decline from peak	-9.44%	0.00%	-9.44%
Average Drawdown Average peak-to-trough decline	-45.08%	0.00%	-45.08%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.35%	—	—

Volatility

Volatility by Period

	FAN	RAYS	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.87%	—	—
Volatility (6M) Calculated over the trailing 6-month period	15.93%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	20.41%	0.00%	+20.41%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	21.42%	0.00%	+21.42%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.96%	0.00%	+20.96%

FAN vs. RAYS - Expense Ratio Comparison

FAN has a 0.62% expense ratio, which is higher than RAYS's 0.50% expense ratio.

Dividends

FAN vs. RAYS - Dividend Comparison

FAN's dividend yield for the trailing twelve months is around 1.03%, while RAYS has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FAN First Trust Global Wind Energy ETF	1.03%	1.35%	1.52%	1.71%	1.50%	1.79%	0.84%	2.42%	2.67%	2.59%	6.04%	2.35%
RAYS Global X Solar ETF	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Which ETF is better, FAN or RAYS?

On fees, RAYS is cheaper at 0.50% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, FAN or RAYS?

RAYS is cheaper with a 0.50% expense ratio, compared with 0.62% for FAN.

Which ETF pays a higher dividend yield, FAN or RAYS?

FAN has the higher dividend yield at 1.03%, compared with 0.00% for RAYS.

What is the main difference between FAN and RAYS?

FAN tracks ISE Clean Edge Global Wind Energy Index, while RAYS tracks Solactive Solar Index. They also come from different issuers: First Trust and Global X. Their fees differ too: 0.62% for FAN and 0.50% for RAYS.