GCLX.L vs. GXLE.L
GCLX.L (Invesco Global Clean Energy UCITS ETF Acc) and GXLE.L (SPDR S&P US Energy Select Sector UCITS ETF) are both Energy Equities funds - GCLX.L tracks the S&P Global Clean Energy TR USD while GXLE.L tracks the MSCI World/Energy NR USD. Both are passively managed. Over the past 3 years, GCLX.L returned 5.24%/yr vs 14.18%/yr for GXLE.L. At a 0.20 correlation, their price movements are largely independent. GCLX.L charges 0.60%/yr vs 0.15%/yr for GXLE.L.
Performance
GCLX.L vs. GXLE.L - Performance Comparison
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Different Trading Currencies
GCLX.L is traded in GBp, while GXLE.L is traded in GBP. To make them comparable, the GXLE.L values have been converted to GBp using the latest available exchange rates.
Returns By Period
In the year-to-date period, GCLX.L achieves a 36.06% return, which is significantly higher than GXLE.L's 30.65% return.
GCLX.L
- 1D
- -0.90%
- 1M
- 3.33%
- YTD
- 36.06%
- 6M
- 36.43%
- 1Y
- 88.67%
- 3Y*
- 5.24%
- 5Y*
- -3.55%
- 10Y*
- —
GXLE.L
- 1D
- -0.48%
- 1M
- -0.13%
- YTD
- 30.65%
- 6M
- 28.41%
- 1Y
- 47.66%
- 3Y*
- 14.18%
- 5Y*
- —
- 10Y*
- —
GCLX.L vs. GXLE.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
GCLX.L Invesco Global Clean Energy UCITS ETF Acc | 36.06% | 32.48% | -25.40% | -15.38% | -20.53% |
GXLE.L SPDR S&P US Energy Select Sector UCITS ETF | 30.65% | 2.22% | 5.51% | -5.03% | 26.48% |
Correlation
The correlation between GCLX.L and GXLE.L is -0.09, 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 | -0.09 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.15 |
Correlation (All Time) Calculated using the full available price history since Apr 5, 2022 | 0.20 |
The correlation between GCLX.L and GXLE.L shifts across timeframes, from -0.09 (1 year) to 0.20 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
GCLX.L vs. GXLE.L — Risk / Return Rank
GCLX.L
GXLE.L
GCLX.L vs. GXLE.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco Global Clean Energy UCITS ETF Acc (GCLX.L) and SPDR S&P US Energy Select Sector UCITS ETF (GXLE.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.
| GCLX.L | GXLE.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +2.21 | ||
| Sortino ratioReturn per unit of downside risk | +2.50 | ||
| Omega ratioGain probability vs. loss probability | 1.67 | 1.35 | +0.31 |
| Calmar ratioReturn relative to maximum drawdown | 8.26 | 2.85 | +5.41 |
| Martin ratioReturn relative to average drawdown | 27.52 | 9.07 | +18.45 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| GCLX.L | GXLE.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 4.21 | 2.00 | +2.21 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.14 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.24 | 0.53 | -0.77 |
Drawdowns
GCLX.L vs. GXLE.L - Drawdown Comparison
The maximum GCLX.L drawdown since its inception was -69.45%, which is greater than GXLE.L's maximum drawdown of -23.60%. Use the drawdown chart below to compare losses from any high point for GCLX.L and GXLE.L.
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Drawdown Indicators
| GCLX.L | GXLE.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -69.45% | -23.60% | -45.85% |
Max Drawdown (1Y)Largest decline over 1 year | -10.67% | -16.63% | +5.96% |
Max Drawdown (3Y)Largest decline over 3 years | -52.84% | -23.60% | -29.24% |
Max Drawdown (5Y)Largest decline over 5 years | -68.40% | — | — |
Current DrawdownCurrent decline from peak | -29.12% | -8.95% | -20.17% |
Average DrawdownAverage peak-to-trough decline | -40.37% | -10.77% | -29.60% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.21% | 5.24% | -2.03% |
Volatility
GCLX.L vs. GXLE.L - Volatility Comparison
The current volatility for Invesco Global Clean Energy UCITS ETF Acc (GCLX.L) is 8.47%, while SPDR S&P US Energy Select Sector UCITS ETF (GXLE.L) has a volatility of 9.27%. This indicates that GCLX.L experiences smaller price fluctuations and is considered to be less risky than GXLE.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| GCLX.L | GXLE.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 8.47% | 9.27% | -0.80% |
Volatility (6M)Calculated over the trailing 6-month period | 14.49% | 20.29% | -5.80% |
Volatility (1Y)Calculated over the trailing 1-year period | 20.98% | 23.82% | -2.84% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 25.59% | 25.52% | +0.07% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 26.20% | 25.52% | +0.68% |
GCLX.L vs. GXLE.L - Expense Ratio Comparison
GCLX.L has a 0.60% expense ratio, which is higher than GXLE.L's 0.15% expense ratio.
Dividends
GCLX.L vs. GXLE.L - Dividend Comparison
Neither GCLX.L nor GXLE.L has paid dividends to shareholders.
Frequently Asked Questions
GCLX.L and GXLE.L have a correlation of -0.09, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, GXLE.L is cheaper at 0.15% per year. The better choice depends on whether you care most about return, fees, risk, or income.
GXLE.L is cheaper with a 0.15% expense ratio, compared with 0.60% for GCLX.L.
GCLX.L tracks S&P Global Clean Energy TR USD, while GXLE.L tracks MSCI World/Energy NR USD. They also come from different issuers: Invesco and State Street. Their fees differ too: 0.60% for GCLX.L and 0.15% for GXLE.L.
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