ICLN vs. AMEM.DE
ICLN (iShares Global Clean Energy ETF) and AMEM.DE (Amundi MSCI Emerging Markets UCITS ETF EUR) are both exchange-traded funds - ICLN is a Alternative Energy Equities fund tracking the S&P Global Clean Energy Index, while AMEM.DE is a Emerging Markets Equities fund tracking the MSCI Emerging Markets. Both are passively managed. Over the past 10 years, ICLN returned 8.88%/yr vs 8.72%/yr for AMEM.DE. A 0.52 correlation means they provide meaningful diversification when combined. ICLN charges 0.39%/yr vs 0.20%/yr for AMEM.DE.
Performance
ICLN vs. AMEM.DE - Performance Comparison
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Different Trading Currencies
ICLN is traded in USD, while AMEM.DE is traded in EUR. To make them comparable, the AMEM.DE values have been converted to USD using the latest available exchange rates.
Returns By Period
In the year-to-date period, ICLN achieves a 10.70% return, which is significantly lower than AMEM.DE's 17.24% return. Both investments have delivered pretty close results over the past 10 years, with ICLN having a 8.88% annualized return and AMEM.DE not far behind at 8.72%.
ICLN
- 1D
- -1.25%
- 1M
- -14.03%
- 6M
- 2.76%
- YTD
- 10.70%
- 1Y
- 34.98%
- 3Y*
- 0.42%
- 5Y*
- -3.25%
- 10Y*
- 8.88%
- ALL TIME*
- -3.76%
AMEM.DE
- 1D
- 1.01%
- 1M
- -8.76%
- 6M
- 10.70%
- YTD
- 17.24%
- 1Y
- 32.75%
- 3Y*
- 19.90%
- 5Y*
- 6.93%
- 10Y*
- 8.72%
- ALL TIME*
- 4.81%
ICLN vs. AMEM.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
ICLN iShares Global Clean Energy ETF | 10.70% | 47.05% | -25.72% | -20.41% | -5.43% | -24.18% | 141.82% | 44.36% | -9.03% | 21.47% |
AMEM.DE Amundi MSCI Emerging Markets UCITS ETF EUR | 17.24% | 34.59% | 7.19% | 8.68% | -18.57% | -4.24% | 16.83% | 18.68% | -15.19% | 37.50% |
Correlation
The correlation between ICLN and AMEM.DE is 0.60, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.60 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.53 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.53 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.52 |
Correlation (All Time) Calculated using the full available price history since Mar 16, 2011 | 0.52 |
The correlation between ICLN and AMEM.DE has been stable across timeframes, ranging from 0.52 to 0.60 - a consistent structural relationship.
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Return for Risk
ICLN vs. AMEM.DE — Risk / Return Rank
ICLN
AMEM.DE
ICLN vs. AMEM.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Global Clean Energy ETF (ICLN) and Amundi MSCI Emerging Markets UCITS ETF EUR (AMEM.DE). 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.
| ICLN | AMEM.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.34 | ||
| Sortino ratioReturn per unit of downside risk | -0.40 | ||
| Omega ratioGain probability vs. loss probability | 1.20 | 1.28 | -0.07 |
| Calmar ratioReturn relative to maximum drawdown | 1.50 | 2.54 | -1.04 |
| Martin ratioReturn relative to average drawdown | 5.17 | 7.87 | -2.69 |
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Drawdowns
ICLN vs. AMEM.DE - Drawdown Comparison
The maximum ICLN drawdown since its inception was -87.15%, which is greater than AMEM.DE's maximum drawdown of -39.90%. Use the drawdown chart below to compare losses from any high point for ICLN and AMEM.DE.
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Drawdown Indicators
| ICLN | AMEM.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -87.15% | -39.90% | -47.25% |
Max Drawdown (1Y)Largest decline over 1 year | -23.42% | -12.85% | -10.57% |
Max Drawdown (3Y)Largest decline over 3 years | -42.27% | -18.08% | -24.19% |
Max Drawdown (5Y)Largest decline over 5 years | -57.16% | -34.67% | -22.49% |
Max Drawdown (10Y)Largest decline over 10 years | -66.75% | -39.90% | -26.85% |
Current DrawdownCurrent decline from peak | -50.47% | -10.08% | -40.39% |
Average DrawdownAverage peak-to-trough decline | -66.45% | -16.00% | -50.45% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 6.78% | 4.15% | +2.63% |
Volatility
ICLN vs. AMEM.DE - Volatility Comparison
iShares Global Clean Energy ETF (ICLN) has a higher volatility of 11.54% compared to Amundi MSCI Emerging Markets UCITS ETF EUR (AMEM.DE) at 8.86%. This indicates that ICLN's price experiences larger fluctuations and is considered to be riskier than AMEM.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| ICLN | AMEM.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 11.54% | 8.86% | +2.68% |
Volatility (6M)Calculated over the trailing 6-month period | 24.70% | 19.18% | +5.52% |
Volatility (1Y)Calculated over the trailing 1-year period | 29.86% | 21.46% | +8.40% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 27.93% | 19.22% | +8.71% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 27.43% | 19.63% | +7.80% |
ICLN vs. AMEM.DE - Expense Ratio Comparison
ICLN has a 0.39% expense ratio, which is higher than AMEM.DE's 0.20% expense ratio.
Dividends
ICLN vs. AMEM.DE - Dividend Comparison
ICLN's dividend yield for the trailing twelve months is around 1.02%, while AMEM.DE has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
AMEM.DE Amundi MSCI Emerging Markets UCITS ETF EUR | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
ICLN iShares Global Clean Energy ETF | 1.02% | 1.63% | 1.85% | 1.59% | 0.89% | 1.18% | 0.34% | 1.36% | 2.77% | 2.49% | 3.88% | 2.36% |
Frequently Asked Questions
ICLN and AMEM.DE have a correlation of 0.60, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, AMEM.DE is cheaper at 0.20% per year. The better choice depends on whether you care most about return, fees, risk, or income.
AMEM.DE is cheaper with a 0.20% expense ratio, compared with 0.39% for ICLN.
ICLN is categorized as Alternative Energy Equities, while AMEM.DE is Emerging Markets Equities. ICLN tracks S&P Global Clean Energy Index, while AMEM.DE tracks MSCI Emerging Markets. They also come from different issuers: iShares and Amundi. Their fees differ too: 0.39% for ICLN and 0.20% for AMEM.DE.
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