IOGP.L vs. GCLX.L
IOGP.L (iShares Oil & Gas Exploration & Production UCITS ETF USD (Acc)) and GCLX.L (Invesco Global Clean Energy UCITS ETF Acc) are both exchange-traded funds - IOGP.L is a Oil & Gas fund tracking the S&P Commodity Producers Oil & Gas Exploration & Production Index, while GCLX.L is a Energy Equities fund tracking the S&P Global Clean Energy TR USD. Both are passively managed. Over the past 5 years, IOGP.L returned 16.29%/yr vs -4.39%/yr for GCLX.L. At a 0.34 correlation, their price movements are largely independent. IOGP.L charges 0.55%/yr vs 0.60%/yr for GCLX.L.
Performance
IOGP.L vs. GCLX.L - Performance Comparison
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Different Trading Currencies
IOGP.L is traded in USD, while GCLX.L is traded in GBp. To make them comparable, the GCLX.L values have been converted to USD using the latest available exchange rates.
Returns By Period
In the year-to-date period, IOGP.L achieves a 28.57% return, which is significantly lower than GCLX.L's 36.97% return.
IOGP.L
- 1D
- 2.02%
- 1M
- -2.81%
- YTD
- 28.57%
- 6M
- 24.95%
- 1Y
- 36.79%
- 3Y*
- 14.41%
- 5Y*
- 16.29%
- 10Y*
- 7.46%
GCLX.L
- 1D
- -0.81%
- 1M
- 5.73%
- YTD
- 36.97%
- 6M
- 39.86%
- 1Y
- 90.55%
- 3Y*
- 8.38%
- 5Y*
- -4.39%
- 10Y*
- —
IOGP.L vs. GCLX.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
IOGP.L iShares Oil & Gas Exploration & Production UCITS ETF USD (Acc) | 28.57% | 6.29% | -0.90% | 2.72% | 37.88% | 31.07% |
GCLX.L Invesco Global Clean Energy UCITS ETF Acc | 36.97% | 42.47% | -26.64% | -10.91% | -30.74% | -22.09% |
Correlation
The correlation between IOGP.L and GCLX.L is -0.03, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.03 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.28 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.34 |
Correlation (All Time) Calculated using the full available price history since Mar 3, 2021 | 0.34 |
The correlation between IOGP.L and GCLX.L shifts across timeframes, from -0.03 (1 year) to 0.34 (5 years), reflecting how their relationship changes across market environments.
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Return for Risk
IOGP.L vs. GCLX.L — Risk / Return Rank
IOGP.L
GCLX.L
IOGP.L vs. GCLX.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Oil & Gas Exploration & Production UCITS ETF USD (Acc) (IOGP.L) and Invesco Global Clean Energy UCITS ETF Acc (GCLX.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.
| IOGP.L | GCLX.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.53 | ||
| Sortino ratioReturn per unit of downside risk | -2.72 | ||
| Omega ratioGain probability vs. loss probability | 1.26 | 1.62 | -0.36 |
| Calmar ratioReturn relative to maximum drawdown | 2.37 | 8.14 | -5.77 |
| Martin ratioReturn relative to average drawdown | 6.32 | 26.99 | -20.68 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| IOGP.L | GCLX.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.49 | 4.02 | -2.53 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.54 | -0.16 | +0.69 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.23 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.07 | -0.24 | +0.31 |
Drawdowns
IOGP.L vs. GCLX.L - Drawdown Comparison
The maximum IOGP.L drawdown since its inception was -83.56%, which is greater than GCLX.L's maximum drawdown of -71.94%. Use the drawdown chart below to compare losses from any high point for IOGP.L and GCLX.L.
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Drawdown Indicators
| IOGP.L | GCLX.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -83.56% | -71.94% | -11.62% |
Max Drawdown (1Y)Largest decline over 1 year | -15.44% | -11.06% | -4.38% |
Max Drawdown (3Y)Largest decline over 3 years | -27.14% | -53.30% | +26.16% |
Max Drawdown (5Y)Largest decline over 5 years | -32.41% | -69.81% | +37.40% |
Max Drawdown (10Y)Largest decline over 10 years | -74.37% | — | — |
Current DrawdownCurrent decline from peak | -8.38% | -31.18% | +22.80% |
Average DrawdownAverage peak-to-trough decline | -35.25% | -44.61% | +9.36% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 5.81% | 3.34% | +2.47% |
Volatility
IOGP.L vs. GCLX.L - Volatility Comparison
The current volatility for iShares Oil & Gas Exploration & Production UCITS ETF USD (Acc) (IOGP.L) is 8.37%, while Invesco Global Clean Energy UCITS ETF Acc (GCLX.L) has a volatility of 9.20%. This indicates that IOGP.L experiences smaller price fluctuations and is considered to be less risky than GCLX.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| IOGP.L | GCLX.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 8.37% | 9.20% | -0.83% |
Volatility (6M)Calculated over the trailing 6-month period | 20.52% | 15.80% | +4.72% |
Volatility (1Y)Calculated over the trailing 1-year period | 24.66% | 22.44% | +2.22% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 30.34% | 28.03% | +2.31% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 32.81% | 28.56% | +4.25% |
IOGP.L vs. GCLX.L - Expense Ratio Comparison
IOGP.L has a 0.55% expense ratio, which is lower than GCLX.L's 0.60% expense ratio.
Dividends
IOGP.L vs. GCLX.L - Dividend Comparison
Neither IOGP.L nor GCLX.L has paid dividends to shareholders.
Frequently Asked Questions
IOGP.L and GCLX.L have a correlation of -0.03, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, IOGP.L is cheaper at 0.55% per year. The better choice depends on whether you care most about return, fees, risk, or income.
IOGP.L is cheaper with a 0.55% expense ratio, compared with 0.60% for GCLX.L.
IOGP.L is categorized as Oil & Gas, while GCLX.L is Energy Equities. IOGP.L tracks S&P Commodity Producers Oil & Gas Exploration & Production Index, while GCLX.L tracks S&P Global Clean Energy TR USD. They also come from different issuers: iShares and Invesco. Their fees differ too: 0.55% for IOGP.L and 0.60% for GCLX.L.
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