ICLN vs. MSFT
ICLN (iShares Global Clean Energy ETF) is Alternative Energy Equities fund tracking the S&P Global Clean Energy Index, while MSFT (Microsoft Corporation) is a stock. Over the past 10 years, ICLN returned 11.67%/yr vs 24.39%/yr for MSFT. At a 0.43 correlation, their price movements are largely independent.
Performance
ICLN vs. MSFT - Performance Comparison
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Returns By Period
In the year-to-date period, ICLN achieves a 27.33% return, which is significantly higher than MSFT's -18.85% return. Over the past 10 years, ICLN has underperformed MSFT with an annualized return of 11.67%, while MSFT has yielded a comparatively higher 24.39% annualized return.
ICLN
- 1D
- 0.87%
- 1M
- -5.47%
- YTD
- 27.33%
- 6M
- 27.01%
- 1Y
- 60.20%
- 3Y*
- 5.25%
- 5Y*
- -0.21%
- 10Y*
- 11.67%
MSFT
- 1D
- 0.10%
- 1M
- -7.19%
- YTD
- -18.85%
- 6M
- -17.98%
- 1Y
- -17.07%
- 3Y*
- 6.16%
- 5Y*
- 9.56%
- 10Y*
- 24.39%
ICLN vs. MSFT - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
ICLN iShares Global Clean Energy ETF | 27.33% | 47.05% | -25.72% | -20.41% | -5.43% | -24.18% | 141.82% | 44.36% | -9.03% | 21.47% |
MSFT Microsoft Corporation | -18.85% | 15.58% | 12.93% | 58.19% | -28.02% | 52.48% | 42.53% | 57.56% | 20.80% | 40.73% |
Correlation
The correlation between ICLN and MSFT is 0.16, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.16 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.20 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.35 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.41 |
Correlation (All Time) Calculated using the full available price history since Jun 25, 2008 | 0.43 |
Over the past year, the correlation between ICLN and MSFT has dropped to 0.16 - well below their long-term average of 0.43, suggesting their price drivers have been diverging.
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Return for Risk
ICLN vs. MSFT — Risk / Return Rank
ICLN
MSFT
ICLN vs. MSFT - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Global Clean Energy ETF (ICLN) and Microsoft Corporation (MSFT). 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 | MSFT | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +2.87 | ||
| Sortino ratioReturn per unit of downside risk | +3.57 | ||
| Omega ratioGain probability vs. loss probability | 1.34 | 0.89 | +0.45 |
| Calmar ratioReturn relative to maximum drawdown | 3.73 | -0.53 | +4.26 |
| Martin ratioReturn relative to average drawdown | 13.84 | -1.08 | +14.92 |
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Drawdowns
ICLN vs. MSFT - Drawdown Comparison
The maximum ICLN drawdown since its inception was -87.15%, which is greater than MSFT's maximum drawdown of -69.38%. Use the drawdown chart below to compare losses from any high point for ICLN and MSFT.
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Drawdown Indicators
| ICLN | MSFT | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -87.15% | -69.38% | -17.77% |
Max Drawdown (1Y)Largest decline over 1 year | -16.38% | -33.91% | +17.53% |
Max Drawdown (3Y)Largest decline over 3 years | -43.18% | -33.91% | -9.27% |
Max Drawdown (5Y)Largest decline over 5 years | -57.16% | -37.15% | -20.01% |
Max Drawdown (10Y)Largest decline over 10 years | -66.75% | -37.15% | -29.60% |
Current DrawdownCurrent decline from peak | -43.03% | -27.46% | -15.57% |
Average DrawdownAverage peak-to-trough decline | -66.56% | -21.78% | -44.78% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.41% | 16.48% | -12.07% |
Volatility
ICLN vs. MSFT - Volatility Comparison
iShares Global Clean Energy ETF (ICLN) has a higher volatility of 12.97% compared to Microsoft Corporation (MSFT) at 10.52%. This indicates that ICLN's price experiences larger fluctuations and is considered to be riskier than MSFT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| ICLN | MSFT | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 12.97% | 10.52% | +2.45% |
Volatility (6M)Calculated over the trailing 6-month period | 22.62% | 22.31% | +0.31% |
Volatility (1Y)Calculated over the trailing 1-year period | 28.21% | 25.42% | +2.79% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 27.55% | 26.66% | +0.89% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 27.32% | 27.06% | +0.26% |
Dividends
ICLN vs. MSFT - Dividend Comparison
ICLN's dividend yield for the trailing twelve months is around 1.28%, more than MSFT's 0.91% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
ICLN iShares Global Clean Energy ETF | 1.28% | 1.63% | 1.85% | 1.59% | 0.89% | 1.18% | 0.34% | 1.36% | 2.77% | 2.49% | 3.88% | 2.36% |
MSFT Microsoft Corporation | 0.91% | 0.70% | 0.73% | 0.74% | 1.06% | 0.68% | 0.94% | 1.20% | 1.69% | 1.86% | 2.37% | 2.33% |
Frequently Asked Questions
ICLN and MSFT have a correlation of 0.16, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
ICLN has higher volatility (12.97%) compared to MSFT (10.52%). In terms of maximum drawdown, ICLN dropped -87.15% vs MSFT's -69.38%.
ICLN currently has the higher Sharpe Ratio (2.17 vs -0.70), 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.
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