FSLR vs. TAN
FSLR (First Solar, Inc.) is a stock, while TAN (Invesco Solar ETF) is Alternative Energy Equities fund tracking the MAC Global Solar Energy Index. Over the past 10 years, FSLR returned 16.02%/yr vs 9.52%/yr for TAN. Their 0.74 correlation means they have sometimes moved together and sometimes differently.
Performance
FSLR vs. TAN - Performance Comparison
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Returns By Period
In the year-to-date period, FSLR achieves a -19.22% return, which is significantly lower than TAN's 0.43% return. Over the past 10 years, FSLR has outperformed TAN with an annualized return of 16.02%, while TAN has yielded a comparatively lower 9.52% annualized return.
FSLR
- 1D
- 2.44%
- 1M
- -6.03%
- 6M
- -6.43%
- YTD
- -19.22%
- 1Y
- 14.71%
- 3Y*
- 1.35%
- 5Y*
- 19.65%
- 10Y*
- 16.02%
- ALL TIME*
- 11.55%
TAN
- 1D
- -1.02%
- 1M
- -12.41%
- 6M
- -8.39%
- YTD
- 0.43%
- 1Y
- 35.30%
- 3Y*
- -9.55%
- 5Y*
- -10.35%
- 10Y*
- 9.52%
- ALL TIME*
- -7.13%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $397.05M | $406.54M | $591.75M | |
| $66.73M | $50.86M | $87.18M |
FSLR vs. TAN - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
FSLR First Solar, Inc. | -19.22% | 48.22% | 2.30% | 15.01% | 71.86% | -11.89% | 76.77% | 31.81% | -37.12% | 110.41% |
TAN Invesco Solar ETF | 0.43% | 48.31% | -37.61% | -26.79% | -5.24% | -25.10% | 233.96% | 66.53% | -25.67% | 54.38% |
Correlation
The correlation between FSLR and TAN is 0.74, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.74 |
Correlation (3Y) Balances recent behavior with more history. | 0.74 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.75 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.75 |
Correlation (All Time) Calculated using the full available price history since Apr 15, 2008 | 0.74 |
The correlation between FSLR and TAN has been stable across timeframes, ranging from 0.74 to 0.75 - a consistent structural relationship.
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Return for Risk
FSLR vs. TAN — Risk / Return Rank
FSLR
TAN
FSLR vs. TAN - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for First Solar, Inc. (FSLR) and Invesco Solar ETF (TAN). 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.
| FSLR | TAN | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.49 | ||
| Sortino ratioReturn per unit of downside risk | -0.50 | ||
| Omega ratioGain probability vs. loss probability | 1.12 | 1.16 | -0.05 |
| Calmar ratioReturn relative to maximum drawdown | 0.56 | 0.96 | -0.41 |
| Martin ratioReturn relative to average drawdown | 1.07 | 3.14 | -2.07 |
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Drawdowns
FSLR vs. TAN - Drawdown Comparison
The maximum FSLR drawdown since its inception was -96.22%, roughly equal to the maximum TAN drawdown of -95.29%. Use the drawdown chart below to compare losses from any high point for FSLR and TAN.
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Drawdown Indicators
| FSLR | TAN | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -96.22% | -95.29% | -0.93% |
Max Drawdown (1Y)Largest decline over 1 year | -37.40% | -35.51% | -1.89% |
Max Drawdown (3Y)Largest decline over 3 years | -59.97% | -58.85% | -1.12% |
Max Drawdown (5Y)Largest decline over 5 years | -59.97% | -73.95% | +13.98% |
Max Drawdown (10Y)Largest decline over 10 years | -61.26% | -78.53% | +17.27% |
Current DrawdownCurrent decline from peak | -33.69% | -77.35% | +43.66% |
Average DrawdownAverage peak-to-trough decline | -62.97% | -78.45% | +15.48% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 19.41% | 10.87% | +8.54% |
Volatility
FSLR vs. TAN - Volatility Comparison
The current volatility for First Solar, Inc. (FSLR) is 10.92%, while Invesco Solar ETF (TAN) has a volatility of 11.99%. This indicates that FSLR experiences smaller price fluctuations and is considered to be less risky than TAN based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FSLR | TAN | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 10.92% | 11.99% | -1.07% |
Volatility (6M)Calculated over the trailing 6-month period | 38.39% | 29.71% | +8.68% |
Volatility (1Y)Calculated over the trailing 1-year period | 53.94% | 39.21% | +14.73% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 54.12% | 40.14% | +13.98% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 50.83% | 38.27% | +12.56% |
Dividends
FSLR vs. TAN - Dividend Comparison
Neither FSLR nor TAN has paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FSLR First Solar, Inc. | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
TAN Invesco Solar ETF | 0.00% | 0.00% | 0.50% | 0.09% | 0.00% | 0.00% | 0.09% | 0.30% | 0.69% | 1.77% | 5.04% | 1.60% |
Frequently Asked Questions
FSLR and TAN have a correlation of 0.74, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
TAN has higher volatility (11.99%) compared to FSLR (10.92%). In terms of maximum drawdown, FSLR dropped -96.22% vs TAN's -95.29%.
TAN currently has the higher Sharpe Ratio (0.87 vs 0.39), 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.
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