GCEX.L vs. CTEK.L
GCEX.L (Invesco Global Clean Energy UCITS ETF USD (Dist)) and CTEK.L (Global X CleanTech UCITS ETF USD (Acc)) are both Alternative Energy Equities funds - GCEX.L tracks the WilderHill New Energy Global Innovation Index while CTEK.L tracks the Indxx Global CleanTech v2 Index. Both are passively managed. Over the past 3 years, GCEX.L returned -2.66%/yr vs -8.50%/yr for CTEK.L. Their correlation of 0.89 suggests significant overlap in exposure. GCEX.L charges 0.60%/yr vs 0.50%/yr for CTEK.L.
Performance
GCEX.L vs. CTEK.L - Performance Comparison
Loading charts...
Different Trading Currencies
GCEX.L is traded in GBp, while CTEK.L is traded in USD. To make them comparable, the CTEK.L values have been converted to GBp using the latest available exchange rates.
Returns By Period
In the year-to-date period, GCEX.L achieves a 12.15% return, which is significantly higher than CTEK.L's 7.14% return.
GCEX.L
- 1D
- -1.35%
- 1M
- -11.57%
- 6M
- 3.71%
- YTD
- 12.15%
- 1Y
- 35.81%
- 3Y*
- -2.66%
- 5Y*
- -7.05%
- 10Y*
- —
CTEK.L
- 1D
- -1.82%
- 1M
- -18.78%
- 6M
- -5.73%
- YTD
- 7.14%
- 1Y
- 39.48%
- 3Y*
- -8.50%
- 5Y*
- —
- 10Y*
- —
GCEX.L vs. CTEK.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
GCEX.L Invesco Global Clean Energy UCITS ETF USD (Dist) | 12.15% | 32.21% | -25.34% | -15.45% | -22.40% | -16.14% |
CTEK.L Global X CleanTech UCITS ETF USD (Acc) | 7.14% | 42.48% | -32.39% | -25.67% | -7.47% | -20.00% |
Correlation
The correlation between GCEX.L and CTEK.L is 0.89, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.89 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.89 |
Correlation (All Time) Calculated using the full available price history since Nov 16, 2021 | 0.89 |
The correlation between GCEX.L and CTEK.L has been stable across timeframes, ranging from 0.89 to 0.89 - a consistent structural relationship.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
GCEX.L vs. CTEK.L — Risk / Return Rank
GCEX.L
CTEK.L
GCEX.L vs. CTEK.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco Global Clean Energy UCITS ETF USD (Dist) (GCEX.L) and Global X CleanTech UCITS ETF USD (Acc) (CTEK.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.
| GCEX.L | CTEK.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.55 | ||
| Sortino ratioReturn per unit of downside risk | +0.54 | ||
| Omega ratioGain probability vs. loss probability | 1.28 | 1.19 | +0.09 |
| Calmar ratioReturn relative to maximum drawdown | 1.84 | 1.36 | +0.48 |
| Martin ratioReturn relative to average drawdown | 6.42 | 4.29 | +2.13 |
Loading charts...
Drawdowns
GCEX.L vs. CTEK.L - Drawdown Comparison
The maximum GCEX.L drawdown since its inception was -78.22%, which is greater than CTEK.L's maximum drawdown of -72.61%. Use the drawdown chart below to compare losses from any high point for GCEX.L and CTEK.L.
Loading charts...
Drawdown Indicators
| GCEX.L | CTEK.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -78.22% | -72.61% | -5.61% |
Max Drawdown (1Y)Largest decline over 1 year | -19.32% | -28.82% | +9.50% |
Max Drawdown (3Y)Largest decline over 3 years | -52.81% | -63.40% | +10.59% |
Max Drawdown (5Y)Largest decline over 5 years | -68.40% | — | — |
Current DrawdownCurrent decline from peak | -58.41% | -43.21% | -15.20% |
Average DrawdownAverage peak-to-trough decline | -57.38% | -41.64% | -15.74% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 5.56% | 9.18% | -3.62% |
Volatility
GCEX.L vs. CTEK.L - Volatility Comparison
The current volatility for Invesco Global Clean Energy UCITS ETF USD (Dist) (GCEX.L) is 8.34%, while Global X CleanTech UCITS ETF USD (Acc) (CTEK.L) has a volatility of 13.19%. This indicates that GCEX.L experiences smaller price fluctuations and is considered to be less risky than CTEK.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| GCEX.L | CTEK.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 8.34% | 13.19% | -4.85% |
Volatility (6M)Calculated over the trailing 6-month period | 17.32% | 27.88% | -10.56% |
Volatility (1Y)Calculated over the trailing 1-year period | 22.57% | 37.84% | -15.27% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 25.72% | 35.35% | -9.63% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 28.91% | 35.35% | -6.44% |
GCEX.L vs. CTEK.L - Expense Ratio Comparison
GCEX.L has a 0.60% expense ratio, which is higher than CTEK.L's 0.50% expense ratio.
Dividends
GCEX.L vs. CTEK.L - Dividend Comparison
GCEX.L's dividend yield for the trailing twelve months is around 1.43%, while CTEK.L has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|---|
CTEK.L Global X CleanTech UCITS ETF USD (Acc) | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
GCEX.L Invesco Global Clean Energy UCITS ETF USD (Dist) | 1.43% | 2.07% | 1.38% | 0.69% | 0.09% | 0.19% |
Frequently Asked Questions
GCEX.L and CTEK.L have a correlation of 0.89, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, CTEK.L is cheaper at 0.50% per year. The better choice depends on whether you care most about return, fees, risk, or income.
CTEK.L is cheaper with a 0.50% expense ratio, compared with 0.60% for GCEX.L.
GCEX.L tracks WilderHill New Energy Global Innovation Index, while CTEK.L tracks Indxx Global CleanTech v2 Index. They also come from different issuers: Invesco and Global X. Their fees differ too: 0.60% for GCEX.L and 0.50% for CTEK.L.
Find the right allocation for GCEX.L and CTEK.L
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer