HAP vs. RAYS

Last updated Aug 2, 2026

HAP (VanEck Natural Resources ETF) and RAYS (Global X Solar ETF) are both exchange-traded funds - HAP is a Energy Equities fund tracking the MarketVector Global Natural Resources Index, while RAYS is a Alternative Energy Equities fund tracking the Solactive Solar Index. Both are passively managed. HAP charges 0.42%/yr vs 0.50%/yr for RAYS.

Performance

HAP vs. RAYS - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in VanEck Natural Resources ETF (HAP) and Global X Solar ETF (RAYS). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

HAP

• 1D: -1.03%
• 1M: 2.81%
• 6M: 5.60%
• YTD: 18.12%
• 1Y: 39.17%
• 3Y*: 14.98%
• 5Y*: 12.25%
• 10Y*: 11.44%
• ALL TIME*: 5.91%

RAYS

• 1D: 0.00%
• 1M: 0.00%
• 6M: —
• YTD: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: —

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
HAP VanEck Natural Resources ETF	$1.89M	$2.98M	$2.39M
RAYS Global X Solar ETF	$0.00	$0.00	$0.00

HAP vs. RAYS - Yearly Performance Comparison

	2026 (YTD)
HAP VanEck Natural Resources ETF	4.67%
RAYS Global X Solar ETF	0.00%

HAP vs. RAYS - Sectors Allocation Comparison

Sectors	HAP	RAYS
Basic Materials	38.2%	0.9%
Energy	28.7%	-
Industrials	11.6%	21.4%
Utilities	9.8%	6.8%
Consumer Defensive	6.3%	-
Healthcare	3.8%	-
Technology	1.0%	66.9%
Real Estate	0.4%	-
Consumer Cyclical	0.2%	4.0%
Communication Services	-	-
Financial Services	-	-

Return for Risk

HAP vs. RAYS — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

HAP

HAP Risk / Return Rank: 91
HAP Sharpe Ratio Rank: 93
HAP Sortino Ratio Rank: 91
HAP Omega Ratio Rank: 91
HAP Calmar Ratio Rank: 92
HAP Martin Ratio Rank: 86

RAYS

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

HAP vs. RAYS - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for VanEck Natural Resources ETF (HAP) and Global X Solar ETF (RAYS). 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.

	HAP	RAYS	Difference
Sharpe ratio: Return per unit of total volatility	2.48	—	—
Sortino ratio: Return per unit of downside risk	3.21	—	—
Omega ratio: Gain probability vs. loss probability	1.44	—	—
Calmar ratio: Return relative to maximum drawdown	4.28	—	—
Martin ratio: Return relative to average drawdown	12.10	—	—

Drawdowns

HAP vs. RAYS - Drawdown Comparison

The maximum HAP drawdown since its inception was -50.99%, which is greater than RAYS's maximum drawdown of 0.00%. Use the drawdown chart below to compare losses from any high point for HAP and RAYS.

Drawdown Indicators

	HAP	RAYS	Difference
Max Drawdown Largest peak-to-trough decline	-50.99%	0.00%	-50.99%
Max Drawdown (1Y) Largest decline over 1 year	-9.09%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-16.92%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-25.66%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-44.07%	—	—
Current Drawdown Current decline from peak	-4.67%	0.00%	-4.67%
Average Drawdown Average peak-to-trough decline	-12.03%	0.00%	-12.03%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.21%	—	—

Volatility

Volatility by Period

	HAP	RAYS	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.08%	—	—
Volatility (6M) Calculated over the trailing 6-month period	12.98%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	15.67%	0.00%	+15.67%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.21%	0.00%	+18.21%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.67%	0.00%	+19.67%

HAP vs. RAYS - Expense Ratio Comparison

HAP has a 0.42% expense ratio, which is lower than RAYS's 0.50% expense ratio.

Dividends

HAP vs. RAYS - Dividend Comparison

HAP's dividend yield for the trailing twelve months is around 1.92%, while RAYS has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
HAP VanEck Natural Resources ETF	1.92%	2.27%	2.65%	3.27%	3.28%	2.16%	2.45%	2.80%	2.85%	2.02%	1.99%	3.00%
RAYS Global X Solar ETF	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Which ETF is better, HAP or RAYS?

On fees, HAP is cheaper at 0.42% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, HAP or RAYS?

HAP is cheaper with a 0.42% expense ratio, compared with 0.50% for RAYS.

Which ETF pays a higher dividend yield, HAP or RAYS?

HAP has the higher dividend yield at 1.92%, compared with 0.00% for RAYS.

What is the main difference between HAP and RAYS?

HAP is categorized as Energy Equities, while RAYS is Alternative Energy Equities. HAP tracks MarketVector Global Natural Resources Index, while RAYS tracks Solactive Solar Index. They also come from different issuers: VanEck and Global X. Their fees differ too: 0.42% for HAP and 0.50% for RAYS.