HERG.L vs. RAYG.L

Last updated Jun 5, 2026

HERG.L (Global X Video Games & Esports UCITS ETF Dist GBP) and RAYG.L (Global X Solar UCITS ETF USD Accumulating) are both exchange-traded funds - HERG.L is a Technology Equities fund tracking the MSCI World/Information Tech NR USD, while RAYG.L is a Energy Equities fund tracking the S&P Global Clean Energy TR USD. Both are passively managed. Over the past 3 years, HERG.L returned 5.09%/yr vs -4.78%/yr for RAYG.L. At a 0.36 correlation, their price movements are largely independent. Both charge a 0.50% expense ratio.

Performance

HERG.L vs. RAYG.L - Performance Comparison

The chart below illustrates the hypothetical performance of a £10,000 investment in Global X Video Games & Esports UCITS ETF Dist GBP (HERG.L) and Global X Solar UCITS ETF USD Accumulating (RAYG.L). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, HERG.L achieves a -14.16% return, which is significantly lower than RAYG.L's 21.50% return.

HERG.L

• 1D: -1.57%
• 1M: -3.55%
• YTD: -14.16%
• 6M: -16.63%
• 1Y: -14.51%
• 3Y*: 5.09%
• 5Y*: -4.07%
• 10Y*: —

RAYG.L

• 1D: -2.44%
• 1M: 4.77%
• YTD: 21.50%
• 6M: 25.77%
• 1Y: 84.67%
• 3Y*: -4.78%
• 5Y*: —
• 10Y*: —

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

HERG.L vs. RAYG.L - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
HERG.L Global X Video Games & Esports UCITS ETF Dist GBP	-14.16%	15.10%	20.65%	0.14%	-19.96%
RAYG.L Global X Solar UCITS ETF USD Accumulating	21.50%	30.23%	-27.04%	-36.40%	16.05%

Correlation

The correlation between HERG.L and RAYG.L is 0.20, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.20
Correlation (3Y) Calculated over the trailing 3-year period	0.36
Correlation (All Time) Calculated using the full available price history since Feb 18, 2022	0.36

The correlation between HERG.L and RAYG.L shifts across timeframes, from 0.20 (1 year) to 0.36 (all time), reflecting how their relationship changes across market environments.

Return for Risk

HERG.L vs. RAYG.L — Risk / Return Rank

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

HERG.L

HERG.L Risk / Return Rank: 3
HERG.L Sharpe Ratio Rank: 3
HERG.L Sortino Ratio Rank: 3
HERG.L Omega Ratio Rank: 3
HERG.L Calmar Ratio Rank: 4
HERG.L Martin Ratio Rank: 4

RAYG.L

RAYG.L Risk / Return Rank: 80
RAYG.L Sharpe Ratio Rank: 84
RAYG.L Sortino Ratio Rank: 78
RAYG.L Omega Ratio Rank: 70
RAYG.L Calmar Ratio Rank: 91
RAYG.L Martin Ratio Rank: 77

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.

HERG.L vs. RAYG.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Global X Video Games & Esports UCITS ETF Dist GBP (HERG.L) and Global X Solar UCITS ETF USD Accumulating (RAYG.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.

	HERG.L	RAYG.L	Difference
Sharpe ratio: Return per unit of total volatility	-0.83	2.69	-3.52
Sortino ratio: Return per unit of downside risk	-1.05	3.43	-4.49
Omega ratio: Gain probability vs. loss probability	0.88	1.41	-0.54
Calmar ratio: Return relative to maximum drawdown	-0.58	5.82	-6.39
Martin ratio: Return relative to average drawdown	-1.08	14.72	-15.81
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

HERG.L vs. RAYG.L - Sharpe Ratio Comparison

The current HERG.L Sharpe Ratio is -0.83, which is lower than the RAYG.L Sharpe Ratio of 2.69. The chart below compares the historical Sharpe Ratios of HERG.L and RAYG.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

	HERG.L	RAYG.L	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.83	2.69	-3.52
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.20	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	-0.21	-0.11	-0.10

Drawdowns

HERG.L vs. RAYG.L - Drawdown Comparison

The maximum HERG.L drawdown since its inception was -48.02%, smaller than the maximum RAYG.L drawdown of -71.14%. Use the drawdown chart below to compare losses from any high point for HERG.L and RAYG.L.

Drawdown Indicators

	HERG.L	RAYG.L	Difference
Max Drawdown Largest peak-to-trough decline	-48.02%	-71.14%	+23.12%
Max Drawdown (1Y) Largest decline over 1 year	-24.96%	-14.48%	-10.48%
Max Drawdown (3Y) Largest decline over 3 years	-24.96%	-58.12%	+33.16%
Max Drawdown (5Y) Largest decline over 5 years	-40.40%	—	—
Current Drawdown Current decline from peak	-32.54%	-42.21%	+9.67%
Average Drawdown Average peak-to-trough decline	-30.34%	-42.80%	+12.46%
Ulcer Index Depth and duration of drawdowns from previous peaks	13.35%	5.73%	+7.62%

Volatility

HERG.L vs. RAYG.L - Volatility Comparison

The current volatility for Global X Video Games & Esports UCITS ETF Dist GBP (HERG.L) is 5.04%, while Global X Solar UCITS ETF USD Accumulating (RAYG.L) has a volatility of 8.58%. This indicates that HERG.L experiences smaller price fluctuations and is considered to be less risky than RAYG.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	HERG.L	RAYG.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.04%	8.58%	-3.54%
Volatility (6M) Calculated over the trailing 6-month period	14.20%	21.55%	-7.35%
Volatility (1Y) Calculated over the trailing 1-year period	17.55%	31.33%	-13.78%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	20.13%	32.59%	-12.46%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.40%	32.59%	-12.19%

HERG.L vs. RAYG.L - Expense Ratio Comparison

Both HERG.L and RAYG.L have an expense ratio of 0.50%.

Dividends

HERG.L vs. RAYG.L - Dividend Comparison

HERG.L's dividend yield for the trailing twelve months is around 0.97%, while RAYG.L has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021
HERG.L Global X Video Games & Esports UCITS ETF Dist GBP	0.97%	0.24%	0.37%	0.00%	0.01%	0.07%
RAYG.L Global X Solar UCITS ETF USD Accumulating	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both HERG.L and RAYG.L in my portfolio?

HERG.L and RAYG.L have a correlation of 0.20, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, HERG.L or RAYG.L?

Both ETFs have the same 0.50% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, HERG.L or RAYG.L?

HERG.L and RAYG.L have the same expense ratio: 0.50% per year.

What is the main difference between HERG.L and RAYG.L?

HERG.L is categorized as Technology Equities, while RAYG.L is Energy Equities. HERG.L tracks MSCI World/Information Tech NR USD, while RAYG.L tracks S&P Global Clean Energy TR USD.