GCLX.L vs. IOGP.L
GCLX.L (Invesco Global Clean Energy UCITS ETF Acc) and IOGP.L (iShares Oil & Gas Exploration & Production UCITS ETF USD (Acc)) are both exchange-traded funds - GCLX.L is a Energy Equities fund tracking the S&P Global Clean Energy TR USD, while IOGP.L is a Oil & Gas fund tracking the S&P Commodity Producers Oil & Gas Exploration & Production Index. Both are passively managed. Over the past 5 years, GCLX.L returned -3.55%/yr vs 17.51%/yr for IOGP.L. At a 0.27 correlation, their price movements are largely independent. GCLX.L charges 0.60%/yr vs 0.55%/yr for IOGP.L.
Performance
GCLX.L vs. IOGP.L - Performance Comparison
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Different Trading Currencies
GCLX.L is traded in GBp, while IOGP.L is traded in USD. To make them comparable, the IOGP.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 IOGP.L's 28.91% 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*
- —
IOGP.L
- 1D
- -0.14%
- 1M
- -3.20%
- YTD
- 28.91%
- 6M
- 22.54%
- 1Y
- 39.49%
- 3Y*
- 11.59%
- 5Y*
- 17.51%
- 10Y*
- 7.99%
GCLX.L vs. IOGP.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
GCLX.L Invesco Global Clean Energy UCITS ETF Acc | 36.06% | 32.48% | -25.40% | -15.38% | -22.45% | -19.67% |
IOGP.L iShares Oil & Gas Exploration & Production UCITS ETF USD (Acc) | 28.91% | -1.28% | 0.83% | -2.41% | 54.27% | 35.20% |
Correlation
The correlation between GCLX.L and IOGP.L is -0.06, 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 | -0.06 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.23 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.28 |
Correlation (All Time) Calculated using the full available price history since Mar 3, 2021 | 0.27 |
The correlation between GCLX.L and IOGP.L shifts across timeframes, from -0.06 (1 year) to 0.28 (5 years), reflecting how their relationship changes across market environments.
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Return for Risk
GCLX.L vs. IOGP.L — Risk / Return Rank
GCLX.L
IOGP.L
GCLX.L vs. IOGP.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 Oil & Gas Exploration & Production UCITS ETF USD (Acc) (IOGP.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 | IOGP.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +2.68 | ||
| Sortino ratioReturn per unit of downside risk | +2.98 | ||
| Omega ratioGain probability vs. loss probability | 1.67 | 1.27 | +0.40 |
| Calmar ratioReturn relative to maximum drawdown | 8.26 | 2.24 | +6.02 |
| Martin ratioReturn relative to average drawdown | 27.52 | 6.14 | +21.38 |
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 | IOGP.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 4.21 | 1.52 | +2.68 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.14 | 0.59 | -0.73 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.25 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.24 | 0.11 | -0.35 |
Drawdowns
GCLX.L vs. IOGP.L - Drawdown Comparison
The maximum GCLX.L drawdown since its inception was -69.45%, smaller than the maximum IOGP.L drawdown of -75.82%. Use the drawdown chart below to compare losses from any high point for GCLX.L and IOGP.L.
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Drawdown Indicators
| GCLX.L | IOGP.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -69.45% | -75.82% | +6.37% |
Max Drawdown (1Y)Largest decline over 1 year | -10.67% | -17.52% | +6.85% |
Max Drawdown (3Y)Largest decline over 3 years | -52.84% | -29.26% | -23.58% |
Max Drawdown (5Y)Largest decline over 5 years | -68.40% | -32.02% | -36.38% |
Max Drawdown (10Y)Largest decline over 10 years | — | -71.31% | — |
Current DrawdownCurrent decline from peak | -29.12% | -10.12% | -19.00% |
Average DrawdownAverage peak-to-trough decline | -40.37% | -26.66% | -13.71% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.21% | 6.42% | -3.21% |
Volatility
GCLX.L vs. IOGP.L - Volatility Comparison
Invesco Global Clean Energy UCITS ETF Acc (GCLX.L) and iShares Oil & Gas Exploration & Production UCITS ETF USD (Acc) (IOGP.L) have volatilities of 8.47% and 8.63%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| GCLX.L | IOGP.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 8.47% | 8.63% | -0.16% |
Volatility (6M)Calculated over the trailing 6-month period | 14.49% | 21.45% | -6.96% |
Volatility (1Y)Calculated over the trailing 1-year period | 20.98% | 25.85% | -4.87% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 25.59% | 29.74% | -4.15% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 26.20% | 32.20% | -6.00% |
GCLX.L vs. IOGP.L - Expense Ratio Comparison
GCLX.L has a 0.60% expense ratio, which is higher than IOGP.L's 0.55% expense ratio.
Dividends
GCLX.L vs. IOGP.L - Dividend Comparison
Neither GCLX.L nor IOGP.L has paid dividends to shareholders.
Frequently Asked Questions
GCLX.L and IOGP.L have a correlation of -0.06, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, IOGP.L is cheaper at 0.55% per year. The better choice depends on whether you care most about return, fees, risk, or income.
IOGP.L is cheaper with a 0.55% expense ratio, compared with 0.60% for GCLX.L.
GCLX.L is categorized as Energy Equities, while IOGP.L is Oil & Gas. GCLX.L tracks S&P Global Clean Energy TR USD, while IOGP.L tracks S&P Commodity Producers Oil & Gas Exploration & Production Index. They also come from different issuers: Invesco and iShares. Their fees differ too: 0.60% for GCLX.L and 0.55% for IOGP.L.
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