IQQH.DE vs. SMLD.DE
IQQH.DE (iShares Global Clean Energy UCITS ETF USD (Dist)) and SMLD.DE (Invesco Morningstar US Energy Infrastructure MLP UCITS ETF Dist) are both Energy Equities funds - IQQH.DE tracks the S&P Global Clean Energy while SMLD.DE tracks the Morningstar MLP Composite. Both are passively managed. Over the past 10 years, IQQH.DE returned 10.07%/yr vs 6.57%/yr for SMLD.DE. At a 0.34 correlation, their price movements are largely independent. IQQH.DE charges 0.65%/yr vs 0.50%/yr for SMLD.DE.
Performance
IQQH.DE vs. SMLD.DE - Performance Comparison
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Returns By Period
In the year-to-date period, IQQH.DE achieves a 23.10% return, which is significantly higher than SMLD.DE's 18.69% return. Over the past 10 years, IQQH.DE has outperformed SMLD.DE with an annualized return of 10.07%, while SMLD.DE has yielded a comparatively lower 6.57% annualized return.
IQQH.DE
- 1D
- -2.25%
- 1M
- -12.69%
- YTD
- 23.10%
- 6M
- 23.40%
- 1Y
- 56.06%
- 3Y*
- 3.16%
- 5Y*
- -1.23%
- 10Y*
- 10.07%
SMLD.DE
- 1D
- 0.39%
- 1M
- -2.20%
- YTD
- 18.69%
- 6M
- 18.95%
- 1Y
- 15.35%
- 3Y*
- 16.24%
- 5Y*
- 17.39%
- 10Y*
- 6.57%
IQQH.DE vs. SMLD.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
IQQH.DE iShares Global Clean Energy UCITS ETF USD (Dist) | 23.10% | 29.63% | -21.56% | -22.41% | 0.55% | -18.08% | 117.29% | 47.44% | -4.63% | 5.73% |
SMLD.DE Invesco Morningstar US Energy Infrastructure MLP UCITS ETF Dist | 18.69% | -8.84% | 28.79% | 15.50% | 39.45% | 46.81% | -37.59% | 12.61% | -11.81% | -19.80% |
Correlation
The correlation between IQQH.DE and SMLD.DE is -0.06, 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 | -0.06 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.12 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.22 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.31 |
Correlation (All Time) Calculated using the full available price history since May 16, 2013 | 0.34 |
The correlation between IQQH.DE and SMLD.DE shifts across timeframes, from -0.06 (1 year) to 0.34 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
IQQH.DE vs. SMLD.DE — Risk / Return Rank
IQQH.DE
SMLD.DE
IQQH.DE vs. SMLD.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Global Clean Energy UCITS ETF USD (Dist) (IQQH.DE) and Invesco Morningstar US Energy Infrastructure MLP UCITS ETF Dist (SMLD.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.
| IQQH.DE | SMLD.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.22 | ||
| Sortino ratioReturn per unit of downside risk | +1.57 | ||
| Omega ratioGain probability vs. loss probability | 1.35 | 1.16 | +0.19 |
| Calmar ratioReturn relative to maximum drawdown | 3.78 | 1.58 | +2.20 |
| Martin ratioReturn relative to average drawdown | 11.85 | 3.51 | +8.34 |
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Drawdowns
IQQH.DE vs. SMLD.DE - Drawdown Comparison
The maximum IQQH.DE drawdown since its inception was -87.02%, roughly equal to the maximum SMLD.DE drawdown of -83.65%. Use the drawdown chart below to compare losses from any high point for IQQH.DE and SMLD.DE.
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Drawdown Indicators
| IQQH.DE | SMLD.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -87.02% | -83.65% | -3.37% |
Max Drawdown (1Y)Largest decline over 1 year | -14.78% | -9.68% | -5.10% |
Max Drawdown (3Y)Largest decline over 3 years | -43.32% | -22.99% | -20.33% |
Max Drawdown (5Y)Largest decline over 5 years | -57.98% | -22.99% | -34.99% |
Max Drawdown (10Y)Largest decline over 10 years | -64.20% | -76.32% | +12.12% |
Current DrawdownCurrent decline from peak | -42.76% | -5.10% | -37.66% |
Average DrawdownAverage peak-to-trough decline | -63.52% | -34.05% | -29.47% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.72% | 4.35% | +0.37% |
Volatility
IQQH.DE vs. SMLD.DE - Volatility Comparison
iShares Global Clean Energy UCITS ETF USD (Dist) (IQQH.DE) has a higher volatility of 9.95% compared to Invesco Morningstar US Energy Infrastructure MLP UCITS ETF Dist (SMLD.DE) at 5.19%. This indicates that IQQH.DE's price experiences larger fluctuations and is considered to be riskier than SMLD.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| IQQH.DE | SMLD.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 9.95% | 5.19% | +4.76% |
Volatility (6M)Calculated over the trailing 6-month period | 20.24% | 13.06% | +7.18% |
Volatility (1Y)Calculated over the trailing 1-year period | 26.05% | 16.55% | +9.50% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 25.02% | 20.36% | +4.66% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 25.15% | 29.10% | -3.95% |
IQQH.DE vs. SMLD.DE - Expense Ratio Comparison
IQQH.DE has a 0.65% expense ratio, which is higher than SMLD.DE's 0.50% expense ratio.
Dividends
IQQH.DE vs. SMLD.DE - Dividend Comparison
IQQH.DE's dividend yield for the trailing twelve months is around 0.91%, less than SMLD.DE's 7.83% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
IQQH.DE iShares Global Clean Energy UCITS ETF USD (Dist) | 0.91% | 1.33% | 1.24% | 0.80% | 0.53% | 0.73% | 0.49% | 1.56% | 2.87% | 2.88% | 2.81% | 2.60% |
SMLD.DE Invesco Morningstar US Energy Infrastructure MLP UCITS ETF Dist | 7.83% | 8.45% | 7.99% | 8.81% | 8.09% | 8.24% | 11.54% | 9.90% | 9.70% | 8.60% | 7.76% | 9.80% |
Frequently Asked Questions
IQQH.DE and SMLD.DE have a correlation of -0.06, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, SMLD.DE is cheaper at 0.50% per year. The better choice depends on whether you care most about return, fees, risk, or income.
SMLD.DE is cheaper with a 0.50% expense ratio, compared with 0.65% for IQQH.DE.
IQQH.DE tracks S&P Global Clean Energy, while SMLD.DE tracks Morningstar MLP Composite. They also come from different issuers: iShares and Invesco. Their fees differ too: 0.65% for IQQH.DE and 0.50% for SMLD.DE.
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