ICLN vs. SUSW.L

Last updated Jun 4, 2026

ICLN (iShares Global Clean Energy ETF) and SUSW.L (iShares MSCI World SRI UCITS ETF EUR (Acc)) are both exchange-traded funds - ICLN is a Alternative Energy Equities fund tracking the S&P Global Clean Energy Index, while SUSW.L is a Global Equities fund tracking the MSCI ACWI NR USD. Both are passively managed. Over the past 5 years, ICLN returned 2.10%/yr vs 9.43%/yr for SUSW.L. At a 0.44 correlation, their price movements are largely independent. ICLN charges 0.46%/yr vs 0.20%/yr for SUSW.L.

Performance

ICLN vs. SUSW.L - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares Global Clean Energy ETF (ICLN) and iShares MSCI World SRI UCITS ETF EUR (Acc) (SUSW.L). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

ICLN is traded in USD, while SUSW.L is traded in EUR. To make them comparable, the SUSW.L values have been converted to USD using the latest available exchange rates.

Returns By Period

In the year-to-date period, ICLN achieves a 40.54% return, which is significantly higher than SUSW.L's 9.74% return.

ICLN

• 1D: -2.78%
• 1M: 11.22%
• YTD: 40.54%
• 6M: 39.84%
• 1Y: 83.73%
• 3Y*: 8.92%
• 5Y*: 2.10%
• 10Y*: 11.99%

SUSW.L

• 1D: -0.29%
• 1M: 5.72%
• YTD: 9.74%
• 6M: 11.40%
• 1Y: 20.82%
• 3Y*: 16.04%
• 5Y*: 9.43%
• 10Y*: —

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

ICLN vs. SUSW.L - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
ICLN iShares Global Clean Energy ETF	40.54%	47.05%	-25.72%	-20.41%	-5.43%	-24.18%	141.82%	44.36%	-9.03%	2.75%
SUSW.L iShares MSCI World SRI UCITS ETF EUR (Acc)	9.74%	15.57%	11.03%	24.60%	-21.42%	26.41%	20.56%	29.75%	-7.61%	4.24%

Correlation

The correlation between ICLN and SUSW.L is 0.45, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.45
Correlation (3Y) Calculated over the trailing 3-year period	0.42
Correlation (5Y) Calculated over the trailing 5-year period	0.44
Correlation (All Time) Calculated using the full available price history since Oct 24, 2017	0.44

ICLN vs. SUSW.L - Sectors Allocation Comparison

Sectors	ICLN	SUSW.L
Utilities	32.8%	1.8%
Industrials	27.8%	11.8%
Energy	26.4%	-
Technology	11.1%	30.6%
Basic Materials	1.1%	4.0%
Consumer Cyclical	0.1%	9.2%
Communication Services	-	7.7%
Consumer Defensive	-	6.2%
Financial Services	-	17.1%
Healthcare	-	9.3%
Real Estate	-	2.3%

Return for Risk

ICLN vs. SUSW.L — Risk / Return Rank

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

ICLN

ICLN Risk / Return Rank: 87
ICLN Sharpe Ratio Rank: 90
ICLN Sortino Ratio Rank: 84
ICLN Omega Ratio Rank: 78
ICLN Calmar Ratio Rank: 94
ICLN Martin Ratio Rank: 90

SUSW.L

SUSW.L Risk / Return Rank: 44
SUSW.L Sharpe Ratio Rank: 41
SUSW.L Sortino Ratio Rank: 42
SUSW.L Omega Ratio Rank: 42
SUSW.L Calmar Ratio Rank: 47
SUSW.L Martin Ratio Rank: 50

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. SUSW.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Global Clean Energy ETF (ICLN) and iShares MSCI World SRI UCITS ETF EUR (Acc) (SUSW.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.

	ICLN	SUSW.L	Difference
Sharpe ratio: Return per unit of total volatility	3.20	1.57	+1.62
Sortino ratio: Return per unit of downside risk	3.86	2.37	+1.49
Omega ratio: Gain probability vs. loss probability	1.48	1.28	+0.20
Calmar ratio: Return relative to maximum drawdown	7.50	2.13	+5.38
Martin ratio: Return relative to average drawdown	21.35	8.28	+13.06
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

ICLN vs. SUSW.L - Sharpe Ratio Comparison

The current ICLN Sharpe Ratio is 3.20, which is higher than the SUSW.L Sharpe Ratio of 1.57. The chart below compares the historical Sharpe Ratios of ICLN and SUSW.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

	ICLN	SUSW.L	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	3.20	1.57	+1.62
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.08	0.58	-0.51
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.44	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	-0.08	0.70	-0.78

Drawdowns

ICLN vs. SUSW.L - Drawdown Comparison

The maximum ICLN drawdown since its inception was -87.15%, which is greater than SUSW.L's maximum drawdown of -32.58%. Use the drawdown chart below to compare losses from any high point for ICLN and SUSW.L.

Drawdown Indicators

	ICLN	SUSW.L	Difference
Max Drawdown Largest peak-to-trough decline	-87.15%	-32.58%	-54.57%
Max Drawdown (1Y) Largest decline over 1 year	-11.22%	-9.61%	-1.61%
Max Drawdown (3Y) Largest decline over 3 years	-43.18%	-18.19%	-24.99%
Max Drawdown (5Y) Largest decline over 5 years	-57.16%	-29.31%	-27.85%
Max Drawdown (10Y) Largest decline over 10 years	-66.75%	—	—
Current Drawdown Current decline from peak	-37.13%	-0.29%	-36.84%
Average Drawdown Average peak-to-trough decline	-66.61%	-5.78%	-60.83%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.94%	2.49%	+1.45%

Volatility

ICLN vs. SUSW.L - Volatility Comparison

iShares Global Clean Energy ETF (ICLN) has a higher volatility of 9.53% compared to iShares MSCI World SRI UCITS ETF EUR (Acc) (SUSW.L) at 4.43%. This indicates that ICLN's price experiences larger fluctuations and is considered to be riskier than SUSW.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	ICLN	SUSW.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	9.53%	4.43%	+5.10%
Volatility (6M) Calculated over the trailing 6-month period	20.21%	10.19%	+10.02%
Volatility (1Y) Calculated over the trailing 1-year period	26.38%	13.03%	+13.35%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	27.21%	16.12%	+11.09%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	27.20%	17.21%	+9.99%

ICLN vs. SUSW.L - Expense Ratio Comparison

ICLN has a 0.46% expense ratio, which is higher than SUSW.L's 0.20% expense ratio.

Dividends

ICLN vs. SUSW.L - Dividend Comparison

ICLN's dividend yield for the trailing twelve months is around 1.16%, while SUSW.L has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
ICLN iShares Global Clean Energy ETF	1.16%	1.63%	1.85%	1.59%	0.89%	1.18%	0.34%	1.36%	2.77%	2.49%	3.88%	2.36%
SUSW.L iShares MSCI World SRI UCITS ETF EUR (Acc)	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both ICLN and SUSW.L in my portfolio?

ICLN and SUSW.L have a correlation of 0.45, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, ICLN or SUSW.L?

On fees, SUSW.L is cheaper at 0.20% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, ICLN or SUSW.L?

SUSW.L is cheaper with a 0.20% expense ratio, compared with 0.46% for ICLN.

What is the main difference between ICLN and SUSW.L?

ICLN is categorized as Alternative Energy Equities, while SUSW.L is Global Equities. ICLN tracks S&P Global Clean Energy Index, while SUSW.L tracks MSCI ACWI NR USD. Their fees differ too: 0.46% for ICLN and 0.20% for SUSW.L.