GCLX.L vs. IESU.L
GCLX.L (Invesco Global Clean Energy UCITS ETF Acc) and IESU.L (iShares S&P 500 Energy Sector UCITS ETF USD (Acc)) are both Energy Equities funds - GCLX.L tracks the S&P Global Clean Energy TR USD while IESU.L tracks the S&P 500 Capped 35/20 Energy Index NTR. Both are passively managed. Over the past 5 years, GCLX.L returned -7.05%/yr vs 22.82%/yr for IESU.L. At a 0.19 correlation, their price movements are largely independent. GCLX.L charges 0.60%/yr vs 0.15%/yr for IESU.L.
Performance
GCLX.L vs. IESU.L - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, GCLX.L achieves a 12.05% return, which is significantly lower than IESU.L's 28.61% return.
GCLX.L
- 1D
- -1.40%
- 1M
- -11.58%
- 6M
- 3.61%
- YTD
- 12.05%
- 1Y
- 35.89%
- 3Y*
- -2.67%
- 5Y*
- -7.05%
- 10Y*
- —
IESU.L
- 1D
- 1.07%
- 1M
- 4.80%
- 6M
- 20.56%
- YTD
- 28.61%
- 1Y
- 35.99%
- 3Y*
- 13.44%
- 5Y*
- 22.82%
- 10Y*
- 8.50%
GCLX.L vs. IESU.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
GCLX.L Invesco Global Clean Energy UCITS ETF Acc | 12.05% | 32.48% | -25.40% | -15.38% | -22.45% | 5,624.38% |
IESU.L iShares S&P 500 Energy Sector UCITS ETF USD (Acc) | 28.61% | 2.26% | 5.45% | -5.96% | 83.53% | 24.76% |
Correlation
The correlation between GCLX.L and IESU.L is -0.17, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.17 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.09 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.19 |
Correlation (All Time) Calculated using the full available price history since Mar 1, 2021 | 0.19 |
The correlation between GCLX.L and IESU.L shifts across timeframes, from -0.17 (1 year) to 0.19 (5 years), reflecting how their relationship changes across market environments.
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
GCLX.L vs. IESU.L — Risk / Return Rank
GCLX.L
IESU.L
GCLX.L vs. IESU.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 iShares S&P 500 Energy Sector UCITS ETF USD (Acc) (IESU.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.
| GCLX.L | IESU.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.12 | ||
| Sortino ratioReturn per unit of downside risk | +0.17 | ||
| Omega ratioGain probability vs. loss probability | 1.27 | 1.26 | +0.01 |
| Calmar ratioReturn relative to maximum drawdown | 1.85 | 2.07 | -0.22 |
| Martin ratioReturn relative to average drawdown | 6.44 | 5.01 | +1.43 |
Loading charts...
Drawdowns
GCLX.L vs. IESU.L - Drawdown Comparison
The maximum GCLX.L drawdown since its inception was -69.45%, which is greater than IESU.L's maximum drawdown of -63.88%. Use the drawdown chart below to compare losses from any high point for GCLX.L and IESU.L.
Loading charts...
Drawdown Indicators
| GCLX.L | IESU.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -69.45% | -63.88% | -5.57% |
Max Drawdown (1Y)Largest decline over 1 year | -19.32% | -17.34% | -1.98% |
Max Drawdown (3Y)Largest decline over 3 years | -52.84% | -26.36% | -26.48% |
Max Drawdown (5Y)Largest decline over 5 years | -68.40% | -26.36% | -42.04% |
Max Drawdown (10Y)Largest decline over 10 years | — | -62.16% | — |
Current DrawdownCurrent decline from peak | -41.63% | -10.65% | -30.98% |
Average DrawdownAverage peak-to-trough decline | -40.21% | -20.50% | -19.71% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 5.56% | 7.16% | -1.60% |
Volatility
GCLX.L vs. IESU.L - Volatility Comparison
Invesco Global Clean Energy UCITS ETF Acc (GCLX.L) has a higher volatility of 8.37% compared to iShares S&P 500 Energy Sector UCITS ETF USD (Acc) (IESU.L) at 7.50%. This indicates that GCLX.L's price experiences larger fluctuations and is considered to be riskier than IESU.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| GCLX.L | IESU.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 8.37% | 7.50% | +0.87% |
Volatility (6M)Calculated over the trailing 6-month period | 17.76% | 21.74% | -3.98% |
Volatility (1Y)Calculated over the trailing 1-year period | 22.72% | 24.54% | -1.82% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 29.04% | 29.08% | -0.04% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 3,028.10% | 29.16% | +2,998.94% |
GCLX.L vs. IESU.L - Expense Ratio Comparison
GCLX.L has a 0.60% expense ratio, which is higher than IESU.L's 0.15% expense ratio.
Dividends
GCLX.L vs. IESU.L - Dividend Comparison
Neither GCLX.L nor IESU.L has paid dividends to shareholders.
Frequently Asked Questions
GCLX.L and IESU.L have a correlation of -0.17, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, IESU.L is cheaper at 0.15% per year. The better choice depends on whether you care most about return, fees, risk, or income.
IESU.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 IESU.L tracks S&P 500 Capped 35/20 Energy Index NTR. They also come from different issuers: Invesco and iShares. Their fees differ too: 0.60% for GCLX.L and 0.15% for IESU.L.
Find the right allocation for GCLX.L and IESU.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