GCEX.L vs. EQGB.L
GCEX.L (Invesco Markets II PLC - Invesco Global Clean Energy UCITS ETF) and EQGB.L (Invesco EQQQ Nasdaq-100 UCITS ETF GBP Hdg Acc) are both exchange-traded funds - GCEX.L is a Global Equities fund tracking the Invesco Markets II PLC - Invesco Global Clean Energy UCITS ETF, while EQGB.L is a Nasdaq-100 fund tracking the NASDAQ-100 Index. Both are passively managed. Over the past 5 years, GCEX.L returned -6.57%/yr vs 14.06%/yr for EQGB.L. A 0.60 correlation means they provide meaningful diversification when combined. GCEX.L charges 0.60%/yr vs 0.35%/yr for EQGB.L.
Performance
GCEX.L vs. EQGB.L - Performance Comparison
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Returns By Period
The year-to-date returns for both investments are quite close, with GCEX.L having a 15.08% return and EQGB.L slightly higher at 15.19%.
GCEX.L
- 1D
- -0.75%
- 1M
- -9.70%
- 6M
- 7.04%
- YTD
- 15.08%
- 1Y
- 40.93%
- 3Y*
- -0.94%
- 5Y*
- -6.57%
- 10Y*
- —
EQGB.L
- 1D
- -0.71%
- 1M
- -3.43%
- 6M
- 15.41%
- YTD
- 15.19%
- 1Y
- 27.37%
- 3Y*
- 23.21%
- 5Y*
- 14.06%
- 10Y*
- —
GCEX.L vs. EQGB.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
GCEX.L Invesco Markets II PLC - Invesco Global Clean Energy UCITS ETF | 15.08% | 32.21% | -25.34% | -15.45% | -22.40% | -42.73% |
EQGB.L Invesco EQQQ Nasdaq-100 UCITS ETF GBP Hdg Acc | 15.19% | 19.59% | 26.12% | 53.92% | -35.07% | 26.73% |
Correlation
The correlation between GCEX.L and EQGB.L is 0.69, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.69 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.55 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.60 |
Correlation (All Time) Calculated using the full available price history since Mar 1, 2021 | 0.60 |
The correlation between GCEX.L and EQGB.L shifts across timeframes, from 0.55 (3 years) to 0.69 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
GCEX.L vs. EQGB.L — Risk / Return Rank
GCEX.L
EQGB.L
GCEX.L vs. EQGB.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco Markets II PLC - Invesco Global Clean Energy UCITS ETF (GCEX.L) and Invesco EQQQ Nasdaq-100 UCITS ETF GBP Hdg Acc (EQGB.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 | EQGB.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.23 | ||
| Sortino ratioReturn per unit of downside risk | +0.09 | ||
| Omega ratioGain probability vs. loss probability | 1.31 | 1.28 | +0.03 |
| Calmar ratioReturn relative to maximum drawdown | 2.23 | 2.41 | -0.18 |
| Martin ratioReturn relative to average drawdown | 7.69 | 8.06 | -0.36 |
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Drawdowns
GCEX.L vs. EQGB.L - Drawdown Comparison
The maximum GCEX.L drawdown since its inception was -78.22%, which is greater than EQGB.L's maximum drawdown of -36.77%. Use the drawdown chart below to compare losses from any high point for GCEX.L and EQGB.L.
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Drawdown Indicators
| GCEX.L | EQGB.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -78.22% | -36.77% | -41.45% |
Max Drawdown (1Y)Largest decline over 1 year | -18.30% | -11.33% | -6.97% |
Max Drawdown (3Y)Largest decline over 3 years | -52.81% | -22.76% | -30.05% |
Max Drawdown (5Y)Largest decline over 5 years | -68.40% | -36.77% | -31.63% |
Current DrawdownCurrent decline from peak | -57.32% | -3.88% | -53.44% |
Average DrawdownAverage peak-to-trough decline | -57.38% | -7.40% | -49.98% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 5.31% | 3.39% | +1.92% |
Volatility
GCEX.L vs. EQGB.L - Volatility Comparison
Invesco Markets II PLC - Invesco Global Clean Energy UCITS ETF (GCEX.L) has a higher volatility of 8.35% compared to Invesco EQQQ Nasdaq-100 UCITS ETF GBP Hdg Acc (EQGB.L) at 5.88%. This indicates that GCEX.L's price experiences larger fluctuations and is considered to be riskier than EQGB.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| GCEX.L | EQGB.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 8.35% | 5.88% | +2.47% |
Volatility (6M)Calculated over the trailing 6-month period | 17.24% | 13.78% | +3.46% |
Volatility (1Y)Calculated over the trailing 1-year period | 22.58% | 17.33% | +5.25% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 25.72% | 21.20% | +4.52% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 28.92% | 21.26% | +7.66% |
GCEX.L vs. EQGB.L - Expense Ratio Comparison
GCEX.L has a 0.60% expense ratio, which is higher than EQGB.L's 0.35% expense ratio.
Dividends
GCEX.L vs. EQGB.L - Dividend Comparison
GCEX.L's dividend yield for the trailing twelve months is around 1.40%, while EQGB.L has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
EQGB.L Invesco EQQQ Nasdaq-100 UCITS ETF GBP Hdg Acc | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 4.16% |
GCEX.L Invesco Markets II PLC - Invesco Global Clean Energy UCITS ETF | 1.40% | 2.07% | 1.38% | 0.69% | 0.09% | 0.19% | 0.00% | 0.00% |
Frequently Asked Questions
GCEX.L and EQGB.L have a correlation of 0.69, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, EQGB.L is cheaper at 0.35% per year. The better choice depends on whether you care most about return, fees, risk, or income.
EQGB.L is cheaper with a 0.35% expense ratio, compared with 0.60% for GCEX.L.
GCEX.L is categorized as Global Equities, while EQGB.L is Nasdaq-100. GCEX.L tracks Invesco Markets II PLC - Invesco Global Clean Energy UCITS ETF, while EQGB.L tracks NASDAQ-100 Index. Their fees differ too: 0.60% for GCEX.L and 0.35% for EQGB.L.
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