FWRG.L vs. RAYS.L
FWRG.L (Invesco FTSE All-World UCITS ETF Acc) and RAYS.L (Invesco Solar Energy UCITS ETF Acc) are both exchange-traded funds - FWRG.L is a Global Equities fund tracking the FTSE All-World Index, while RAYS.L is a Energy Equities fund tracking the S&P Global Clean Energy TR USD. Both are passively managed. Over the past year, FWRG.L returned 29.06% vs 79.84% for RAYS.L. At a 0.36 correlation, their price movements are largely independent. FWRG.L charges 0.15%/yr vs 0.69%/yr for RAYS.L.
Performance
FWRG.L vs. RAYS.L - Performance Comparison
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Different Trading Currencies
FWRG.L is traded in USD, while RAYS.L is traded in GBp. To make them comparable, the RAYS.L values have been converted to USD using the latest available exchange rates.
Returns By Period
In the year-to-date period, FWRG.L achieves a 12.05% return, which is significantly lower than RAYS.L's 18.79% return.
FWRG.L
- 1D
- 0.47%
- 1M
- 1.79%
- YTD
- 12.05%
- 6M
- 12.44%
- 1Y
- 29.06%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
RAYS.L
- 1D
- 0.00%
- 1M
- -10.05%
- YTD
- 18.79%
- 6M
- 16.23%
- 1Y
- 79.84%
- 3Y*
- -4.61%
- 5Y*
- —
- 10Y*
- —
FWRG.L vs. RAYS.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
FWRG.L Invesco FTSE All-World UCITS ETF Acc | 12.05% | 13.84% | 20.11% | 8,531.38% |
RAYS.L Invesco Solar Energy UCITS ETF Acc | 18.79% | 46.65% | -37.40% | -20.41% |
Correlation
The correlation between FWRG.L and RAYS.L is 0.37, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.37 |
Correlation (All Time) Calculated using the full available price history since Jun 26, 2023 | 0.37 |
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Return for Risk
FWRG.L vs. RAYS.L — Risk / Return Rank
FWRG.L
RAYS.L
FWRG.L vs. RAYS.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco FTSE All-World UCITS ETF Acc (FWRG.L) and Invesco Solar Energy UCITS ETF Acc (RAYS.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.
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.
| FWRG.L | RAYS.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.34 | ||
| Sortino ratioReturn per unit of downside risk | +0.66 | ||
| Omega ratioGain probability vs. loss probability | 1.52 | 1.35 | +0.16 |
| Calmar ratioReturn relative to maximum drawdown | 4.05 | 4.04 | +0.01 |
| Martin ratioReturn relative to average drawdown | 15.98 | 12.77 | +3.21 |
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Drawdowns
FWRG.L vs. RAYS.L - Drawdown Comparison
The maximum FWRG.L drawdown since its inception was -18.87%, smaller than the maximum RAYS.L drawdown of -78.78%. Use the drawdown chart below to compare losses from any high point for FWRG.L and RAYS.L.
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Drawdown Indicators
| FWRG.L | RAYS.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -18.87% | -78.78% | +59.91% |
Max Drawdown (1Y)Largest decline over 1 year | -7.14% | -19.84% | +12.70% |
Max Drawdown (3Y)Largest decline over 3 years | -18.87% | -64.65% | +45.78% |
Current DrawdownCurrent decline from peak | -1.07% | -51.94% | +50.87% |
Average DrawdownAverage peak-to-trough decline | -2.24% | -52.96% | +50.72% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.81% | 6.27% | -4.46% |
Volatility
FWRG.L vs. RAYS.L - Volatility Comparison
The current volatility for Invesco FTSE All-World UCITS ETF Acc (FWRG.L) is 3.62%, while Invesco Solar Energy UCITS ETF Acc (RAYS.L) has a volatility of 11.89%. This indicates that FWRG.L experiences smaller price fluctuations and is considered to be less risky than RAYS.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FWRG.L | RAYS.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.62% | 11.89% | -8.27% |
Volatility (6M)Calculated over the trailing 6-month period | 8.25% | 24.63% | -16.38% |
Volatility (1Y)Calculated over the trailing 1-year period | 10.72% | 34.06% | -23.34% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4,460.73% | 39.63% | +4,421.10% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4,460.73% | 39.63% | +4,421.10% |
FWRG.L vs. RAYS.L - Expense Ratio Comparison
FWRG.L has a 0.15% expense ratio, which is lower than RAYS.L's 0.69% expense ratio.
Dividends
FWRG.L vs. RAYS.L - Dividend Comparison
Neither FWRG.L nor RAYS.L has paid dividends to shareholders.
Frequently Asked Questions
FWRG.L and RAYS.L have a correlation of 0.37, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, FWRG.L is cheaper at 0.15% per year. The better choice depends on whether you care most about return, fees, risk, or income.
FWRG.L is cheaper with a 0.15% expense ratio, compared with 0.69% for RAYS.L.
FWRG.L is categorized as Global Equities, while RAYS.L is Energy Equities. FWRG.L tracks FTSE All-World Index, while RAYS.L tracks S&P Global Clean Energy TR USD. Their fees differ too: 0.15% for FWRG.L and 0.69% for RAYS.L.
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