IBDRY vs. TAN

Last updated Jun 4, 2026

IBDRY (Iberdrola SA) is a stock, while TAN (Invesco Solar ETF) is Alternative Energy Equities fund tracking the MAC Global Solar Energy Index. Over the past 10 years, IBDRY returned 18.51%/yr vs 13.50%/yr for TAN. At a 0.37 correlation, their price movements are largely independent.

Performance

IBDRY vs. TAN - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Iberdrola SA (IBDRY) and Invesco Solar ETF (TAN). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, IBDRY achieves a 6.44% return, which is significantly lower than TAN's 43.10% return. Over the past 10 years, IBDRY has outperformed TAN with an annualized return of 18.51%, while TAN has yielded a comparatively lower 13.50% annualized return.

IBDRY

• 1D: -0.20%
• 1M: -1.17%
• YTD: 6.44%
• 6M: 9.44%
• 1Y: 29.97%
• 3Y*: 28.29%
• 5Y*: 17.04%
• 10Y*: 18.51%

TAN

• 1D: -2.74%
• 1M: 20.40%
• YTD: 43.10%
• 6M: 48.35%
• 1Y: 112.42%
• 3Y*: -0.64%
• 5Y*: -1.65%
• 10Y*: 13.50%

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

IBDRY vs. TAN - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
IBDRY Iberdrola SA	6.44%	65.75%	10.02%	17.36%	3.59%	-15.13%	44.34%	33.28%	7.72%	27.83%
TAN Invesco Solar ETF	43.10%	48.31%	-37.61%	-26.79%	-5.24%	-25.10%	233.96%	66.53%	-25.67%	54.38%

Correlation

The correlation between IBDRY and TAN is 0.15, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.15
Correlation (3Y) Calculated over the trailing 3-year period	0.23
Correlation (5Y) Calculated over the trailing 5-year period	0.27
Correlation (10Y) Calculated over the trailing 10-year period	0.27
Correlation (All Time) Calculated using the full available price history since Apr 16, 2008	0.37

Over the past year, the correlation between IBDRY and TAN has dropped to 0.15 - well below their long-term average of 0.37, suggesting their price drivers have been diverging.

Return for Risk

IBDRY vs. TAN — Risk / Return Rank

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

IBDRY

IBDRY Risk / Return Rank: 82
IBDRY Sharpe Ratio Rank: 84
IBDRY Sortino Ratio Rank: 79
IBDRY Omega Ratio Rank: 79
IBDRY Calmar Ratio Rank: 84
IBDRY Martin Ratio Rank: 84

TAN

TAN Risk / Return Rank: 85
TAN Sharpe Ratio Rank: 88
TAN Sortino Ratio Rank: 79
TAN Omega Ratio Rank: 72
TAN Calmar Ratio Rank: 95
TAN Martin Ratio Rank: 89

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.

IBDRY vs. TAN - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Iberdrola SA (IBDRY) and Invesco Solar ETF (TAN). 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.

	IBDRY	TAN	Difference
Sharpe ratio: Return per unit of total volatility	1.71	3.05	-1.33
Sortino ratio: Return per unit of downside risk	2.28	3.62	-1.33
Omega ratio: Gain probability vs. loss probability	1.31	1.44	-0.13
Calmar ratio: Return relative to maximum drawdown	3.28	8.30	-5.02
Martin ratio: Return relative to average drawdown	8.57	20.09	-11.52
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

IBDRY vs. TAN - Sharpe Ratio Comparison

The current IBDRY Sharpe Ratio is 1.71, which is lower than the TAN Sharpe Ratio of 3.05. The chart below compares the historical Sharpe Ratios of IBDRY and TAN, 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

	IBDRY	TAN	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.71	3.05	-1.33
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.80	-0.04	+0.84
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.79	0.36	+0.44
Sharpe Ratio (All Time) Calculated using the full available price history	0.25	-0.12	+0.38

Drawdowns

IBDRY vs. TAN - Drawdown Comparison

The maximum IBDRY drawdown since its inception was -77.08%, smaller than the maximum TAN drawdown of -95.29%. Use the drawdown chart below to compare losses from any high point for IBDRY and TAN.

Drawdown Indicators

	IBDRY	TAN	Difference
Max Drawdown Largest peak-to-trough decline	-77.08%	-95.29%	+18.21%
Max Drawdown (1Y) Largest decline over 1 year	-9.17%	-13.62%	+4.45%
Max Drawdown (3Y) Largest decline over 3 years	-19.11%	-64.40%	+45.29%
Max Drawdown (5Y) Largest decline over 5 years	-28.11%	-73.95%	+45.84%
Max Drawdown (10Y) Largest decline over 10 years	-37.43%	-78.53%	+41.10%
Current Drawdown Current decline from peak	-5.91%	-67.72%	+61.81%
Average Drawdown Average peak-to-trough decline	-29.49%	-78.51%	+49.02%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.51%	5.62%	-2.11%

Volatility

IBDRY vs. TAN - Volatility Comparison

The current volatility for Iberdrola SA (IBDRY) is 5.14%, while Invesco Solar ETF (TAN) has a volatility of 12.15%. This indicates that IBDRY experiences smaller price fluctuations and is considered to be less risky than TAN based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	IBDRY	TAN	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.14%	12.15%	-7.01%
Volatility (6M) Calculated over the trailing 6-month period	13.51%	25.32%	-11.81%
Volatility (1Y) Calculated over the trailing 1-year period	17.62%	37.29%	-19.67%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	21.41%	39.74%	-18.33%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	23.43%	37.98%	-14.55%

Dividends

IBDRY vs. TAN - Dividend Comparison

IBDRY's dividend yield for the trailing twelve months is around 3.46%, while TAN has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
IBDRY Iberdrola SA	3.46%	4.18%	4.38%	4.11%	4.14%	3.77%	2.83%	3.01%	3.76%	7.28%	10.00%	1.71%
TAN Invesco Solar ETF	0.00%	0.00%	0.50%	0.09%	0.00%	0.00%	0.09%	0.30%	0.69%	1.77%	5.04%	1.60%

Frequently Asked Questions

Can I hold both IBDRY and TAN in my portfolio?

IBDRY and TAN have a correlation of 0.15, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, IBDRY or TAN?

TAN has higher volatility (12.15%) compared to IBDRY (5.14%). In terms of maximum drawdown, IBDRY dropped -77.08% vs TAN's -95.29%.

Which has better risk-adjusted returns?

TAN currently has the higher Sharpe Ratio (3.05 vs 1.71), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.