ICLN vs. IXC

Last updated Jul 26, 2026

ICLN (iShares Global Clean Energy ETF) and IXC (iShares Global Energy ETF) are both exchange-traded funds - ICLN is a Alternative Energy Equities fund tracking the S&P Global Clean Energy Index, while IXC is a Energy Equities fund tracking the S&P Global 1200 Energy Capped Index. Both are passively managed. Over the past 10 years, ICLN returned 8.54%/yr vs 10.11%/yr for IXC. Their 0.50 correlation means they have sometimes moved together and sometimes differently. ICLN charges 0.39%/yr vs 0.40%/yr for IXC.

Performance

ICLN vs. IXC - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares Global Clean Energy ETF (ICLN) and iShares Global Energy ETF (IXC). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, ICLN achieves a 8.51% return, which is significantly lower than IXC's 34.16% return. Over the past 10 years, ICLN has underperformed IXC with an annualized return of 8.54%, while IXC has yielded a comparatively higher 10.11% annualized return.

ICLN

• 1D: -3.21%
• 1M: -12.37%
• 6M: -2.42%
• YTD: 8.51%
• 1Y: 28.61%
• 3Y*: -0.23%
• 5Y*: -3.38%
• 10Y*: 8.54%
• ALL TIME*: -3.87%

IXC

• 1D: 0.13%
• 1M: 11.29%
• 6M: 23.33%
• YTD: 34.16%
• 1Y: 42.55%
• 3Y*: 16.45%
• 5Y*: 22.71%
• 10Y*: 10.11%
• ALL TIME*: 8.51%

*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)
ICLN iShares Global Clean Energy ETF	$75.84M	$93.70M	$122.85M
IXC iShares Global Energy ETF	$42.31M	$62.47M	$60.65M

ICLN vs. IXC - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
ICLN iShares Global Clean Energy ETF	8.51%	47.05%	-25.72%	-20.41%	-5.43%	-24.18%	141.82%	44.36%	-9.03%	21.47%
IXC iShares Global Energy ETF	34.16%	13.98%	1.95%	3.92%	48.51%	40.88%	-31.00%	12.67%	-14.85%	5.54%

Correlation

The correlation between ICLN and IXC is -0.01, meaning there was essentially no consistent relationship between their historical price movements. Each responded to its own set of market drivers.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	-0.01
Correlation (3Y) Balances recent behavior with more history.	0.19
Correlation (5Y) Shows whether the relationship held over a longer period.	0.26
Correlation (10Y) Provides a long-term view across more market conditions.	0.35
Correlation (All Time) Calculated using the full available price history since Jun 25, 2008	0.50

The correlation between ICLN and IXC shifts across timeframes, from -0.01 (1 year) to 0.50 (all time), reflecting how their relationship changes across market environments.

ICLN vs. IXC - Sectors Allocation Comparison

Sectors	ICLN	IXC
Utilities	40.4%	0.2%
Technology	24.7%	-
Industrials	22.8%	-
Energy	8.9%	99.5%
Basic Materials	1.6%	-
Financial Services	0.1%	-
Consumer Cyclical	0.1%	-
Communication Services	-	-
Consumer Defensive	-	-
Healthcare	-	-
Real Estate	-	-

Return for Risk

ICLN vs. IXC — Risk / Return Rank

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

ICLN

ICLN Risk / Return Rank: 38
ICLN Sharpe Ratio Rank: 40
ICLN Sortino Ratio Rank: 39
ICLN Omega Ratio Rank: 36
ICLN Calmar Ratio Rank: 34
ICLN Martin Ratio Rank: 39

IXC

IXC Risk / Return Rank: 81
IXC Sharpe Ratio Rank: 90
IXC Sortino Ratio Rank: 85
IXC Omega Ratio Rank: 84
IXC Calmar Ratio Rank: 75
IXC Martin Ratio Rank: 69

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.

ICLN vs. IXC - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Global Clean Energy ETF (ICLN) and iShares Global Energy ETF (IXC). 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	IXC	Difference
Sharpe ratio: Return per unit of total volatility	0.97	2.18	-1.21
Sortino ratio: Return per unit of downside risk	1.44	2.79	-1.35
Omega ratio: Gain probability vs. loss probability	1.17	1.36	-0.19
Calmar ratio: Return relative to maximum drawdown	1.17	2.75	-1.58
Martin ratio: Return relative to average drawdown	3.96	8.52	-4.56

ICLN vs. IXC - Sharpe Ratio Comparison

The current ICLN Sharpe Ratio is 0.97, which is lower than the IXC Sharpe Ratio of 2.18. The chart below compares the historical Sharpe Ratios of ICLN and IXC, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

ICLN vs. IXC - Drawdown Comparison

The maximum ICLN drawdown since its inception was -87.15%, which is greater than IXC's maximum drawdown of -67.88%. Use the drawdown chart below to compare losses from any high point for ICLN and IXC.

Drawdown Indicators

	ICLN	IXC	Difference
Max Drawdown Largest peak-to-trough decline	-87.15%	-67.88%	-19.27%
Max Drawdown (1Y) Largest decline over 1 year	-24.94%	-15.36%	-9.58%
Max Drawdown (3Y) Largest decline over 3 years	-40.82%	-19.06%	-21.76%
Max Drawdown (5Y) Largest decline over 5 years	-57.16%	-24.93%	-32.23%
Max Drawdown (10Y) Largest decline over 10 years	-66.75%	-64.16%	-2.59%
Current Drawdown Current decline from peak	-51.46%	-3.45%	-48.01%
Average Drawdown Average peak-to-trough decline	-66.44%	-17.43%	-49.01%
Ulcer Index Depth and duration of drawdowns from previous peaks	7.36%	4.94%	+2.42%

Volatility

ICLN vs. IXC - Volatility Comparison

iShares Global Clean Energy ETF (ICLN) has a higher volatility of 10.43% compared to iShares Global Energy ETF (IXC) at 5.23%. This indicates that ICLN's price experiences larger fluctuations and is considered to be riskier than IXC based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	ICLN	IXC	Difference
Volatility (1M) Calculated over the trailing 1-month period	10.43%	5.23%	+5.20%
Volatility (6M) Calculated over the trailing 6-month period	24.87%	15.75%	+9.12%
Volatility (1Y) Calculated over the trailing 1-year period	30.01%	19.35%	+10.66%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	27.94%	23.35%	+4.59%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	27.45%	26.81%	+0.64%

ICLN vs. IXC - Expense Ratio Comparison

ICLN has a 0.39% expense ratio, which is lower than IXC's 0.40% expense ratio.

Dividends

ICLN vs. IXC - Dividend Comparison

ICLN's dividend yield for the trailing twelve months is around 1.04%, less than IXC's 2.83% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
ICLN iShares Global Clean Energy ETF	1.04%	1.63%	1.85%	1.59%	0.89%	1.18%	0.34%	1.36%	2.77%	2.49%	3.88%	2.36%
IXC iShares Global Energy ETF	2.83%	3.68%	4.56%	3.45%	4.76%	3.98%	4.86%	7.00%	3.51%	3.05%	2.86%	3.77%

Frequently Asked Questions

Can I hold both ICLN and IXC in my portfolio?

ICLN and IXC have a correlation of -0.01, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, ICLN or IXC?

ICLN has higher volatility (10.43%) compared to IXC (5.23%). In terms of maximum drawdown, ICLN dropped -87.15% vs IXC's -67.88%.

Which ETF is better, ICLN or IXC?

On 10-year performance, IXC leads with 10.11% vs 8.54% for ICLN. On fees, ICLN is cheaper at 0.39% per year. On volatility, IXC has been the lower-risk option at 5.23%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, ICLN or IXC?

Over the 10-year period, IXC has performed better with a 10.11% return vs 8.54%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, ICLN or IXC?

ICLN is cheaper with a 0.39% expense ratio, compared with 0.40% for IXC.

Which ETF pays a higher dividend yield, ICLN or IXC?

IXC has the higher dividend yield at 2.83%, compared with 1.04% for ICLN.

What is the main difference between ICLN and IXC?

ICLN is categorized as Alternative Energy Equities, while IXC is Energy Equities. ICLN tracks S&P Global Clean Energy Index, while IXC tracks S&P Global 1200 Energy Capped Index. Their fees differ too: 0.39% for ICLN and 0.40% for IXC.

Which has better risk-adjusted returns?

IXC currently has the higher Sharpe Ratio (2.18 vs 0.97), 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.