GCLE.L vs. XDW0.L

Last updated Jun 4, 2026

GCLE.L (Invesco Global Clean Energy UCITS ETF Acc) and XDW0.L (Xtrackers MSCI World Energy UCITS ETF 1C) are both Energy Equities funds - GCLE.L tracks the WilderHill New Energy Global Innovation Index while XDW0.L tracks the MSCI World/Energy NR USD. Both are passively managed. Over the past 5 years, GCLE.L returned -4.38%/yr vs 19.33%/yr for XDW0.L. At a 0.35 correlation, their price movements are largely independent. GCLE.L charges 0.60%/yr vs 0.25%/yr for XDW0.L.

Performance

GCLE.L vs. XDW0.L - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco Global Clean Energy UCITS ETF Acc (GCLE.L) and Xtrackers MSCI World Energy UCITS ETF 1C (XDW0.L). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, GCLE.L achieves a 37.25% return, which is significantly higher than XDW0.L's 31.66% return.

GCLE.L

• 1D: -0.76%
• 1M: 5.86%
• YTD: 37.25%
• 6M: 40.22%
• 1Y: 90.76%
• 3Y*: 8.37%
• 5Y*: -4.38%
• 10Y*: —

XDW0.L

• 1D: 1.88%
• 1M: -0.33%
• YTD: 31.66%
• 6M: 30.41%
• 1Y: 46.43%
• 3Y*: 19.05%
• 5Y*: 19.33%
• 10Y*: 9.75%

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

GCLE.L vs. XDW0.L - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
GCLE.L Invesco Global Clean Energy UCITS ETF Acc	37.25%	41.98%	-26.51%	-10.51%	-30.63%	-22.82%
XDW0.L Xtrackers MSCI World Energy UCITS ETF 1C	31.66%	14.66%	2.10%	3.69%	46.28%	15.27%

Correlation

The correlation between GCLE.L and XDW0.L is -0.02, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	-0.02
Correlation (3Y) Calculated over the trailing 3-year period	0.28
Correlation (5Y) Calculated over the trailing 5-year period	0.36
Correlation (All Time) Calculated using the full available price history since Mar 3, 2021	0.35

The correlation between GCLE.L and XDW0.L shifts across timeframes, from -0.02 (1 year) to 0.36 (5 years), reflecting how their relationship changes across market environments.

GCLE.L vs. XDW0.L - Sectors Allocation Comparison

Sectors	GCLE.L	XDW0.L
Industrials	48.1%	-
Utilities	16.2%	-
Energy	13.0%	99.9%
Consumer Cyclical	10.0%	-
Technology	6.8%	-
Basic Materials	3.4%	-
Consumer Defensive	0.9%	-
Financial Services	0.9%	-
Communication Services	-	0.1%
Healthcare	-	-
Real Estate	-	-

Return for Risk

GCLE.L vs. XDW0.L — Risk / Return Rank

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

GCLE.L

GCLE.L Risk / Return Rank: 94
GCLE.L Sharpe Ratio Rank: 95
GCLE.L Sortino Ratio Rank: 93
GCLE.L Omega Ratio Rank: 91
GCLE.L Calmar Ratio Rank: 95
GCLE.L Martin Ratio Rank: 94

XDW0.L

XDW0.L Risk / Return Rank: 70
XDW0.L Sharpe Ratio Rank: 74
XDW0.L Sortino Ratio Rank: 65
XDW0.L Omega Ratio Rank: 68
XDW0.L Calmar Ratio Rank: 76
XDW0.L Martin Ratio Rank: 69

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.

GCLE.L vs. XDW0.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco Global Clean Energy UCITS ETF Acc (GCLE.L) and Xtrackers MSCI World Energy UCITS ETF 1C (XDW0.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.

	GCLE.L	XDW0.L	Difference
Sharpe ratio: Return per unit of total volatility	3.93	2.40	+1.53
Sortino ratio: Return per unit of downside risk	4.64	2.99	+1.65
Omega ratio: Gain probability vs. loss probability	1.61	1.41	+0.20
Calmar ratio: Return relative to maximum drawdown	7.97	3.81	+4.16
Martin ratio: Return relative to average drawdown	26.97	12.79	+14.18
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

GCLE.L vs. XDW0.L - Sharpe Ratio Comparison

The current GCLE.L Sharpe Ratio is 3.93, which is higher than the XDW0.L Sharpe Ratio of 2.40. The chart below compares the historical Sharpe Ratios of GCLE.L and XDW0.L, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	GCLE.L	XDW0.L	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	3.93	2.40	+1.53
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.15	0.80	-0.95
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.37	—
Sharpe Ratio (All Time) Calculated using the full available price history	-0.24	0.39	-0.63

Drawdowns

GCLE.L vs. XDW0.L - Drawdown Comparison

The maximum GCLE.L drawdown since its inception was -72.13%, which is greater than XDW0.L's maximum drawdown of -63.72%. Use the drawdown chart below to compare losses from any high point for GCLE.L and XDW0.L.

Drawdown Indicators

	GCLE.L	XDW0.L	Difference
Max Drawdown Largest peak-to-trough decline	-72.13%	-63.72%	-8.41%
Max Drawdown (1Y) Largest decline over 1 year	-11.33%	-12.14%	+0.81%
Max Drawdown (3Y) Largest decline over 3 years	-53.23%	-18.90%	-34.33%
Max Drawdown (5Y) Largest decline over 5 years	-69.88%	-26.47%	-43.41%
Max Drawdown (10Y) Largest decline over 10 years	—	-63.72%	—
Current Drawdown Current decline from peak	-31.38%	-5.50%	-25.88%
Average Drawdown Average peak-to-trough decline	-44.87%	-12.31%	-32.56%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.35%	3.62%	-0.27%

Volatility

GCLE.L vs. XDW0.L - Volatility Comparison

Invesco Global Clean Energy UCITS ETF Acc (GCLE.L) has a higher volatility of 9.39% compared to Xtrackers MSCI World Energy UCITS ETF 1C (XDW0.L) at 7.44%. This indicates that GCLE.L's price experiences larger fluctuations and is considered to be riskier than XDW0.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	GCLE.L	XDW0.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	9.39%	7.44%	+1.95%
Volatility (6M) Calculated over the trailing 6-month period	16.27%	16.32%	-0.05%
Volatility (1Y) Calculated over the trailing 1-year period	22.99%	19.27%	+3.72%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	28.50%	24.24%	+4.26%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	29.04%	26.17%	+2.87%

GCLE.L vs. XDW0.L - Expense Ratio Comparison

GCLE.L has a 0.60% expense ratio, which is higher than XDW0.L's 0.25% expense ratio.

Dividends

GCLE.L vs. XDW0.L - Dividend Comparison

Neither GCLE.L nor XDW0.L has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both GCLE.L and XDW0.L in my portfolio?

GCLE.L and XDW0.L have a correlation of -0.02, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, GCLE.L or XDW0.L?

On fees, XDW0.L is cheaper at 0.25% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, GCLE.L or XDW0.L?

XDW0.L is cheaper with a 0.25% expense ratio, compared with 0.60% for GCLE.L.

What is the main difference between GCLE.L and XDW0.L?

GCLE.L tracks WilderHill New Energy Global Innovation Index, while XDW0.L tracks MSCI World/Energy NR USD. They also come from different issuers: Invesco and Xtrackers. Their fees differ too: 0.60% for GCLE.L and 0.25% for XDW0.L.