ISX5.L vs. ICLN

Last updated Jun 14, 2026

ISX5.L (iShares Core EURO STOXX 50 UCITS ETF) and ICLN (iShares Global Clean Energy ETF) are both exchange-traded funds - ISX5.L is a Europe Equities fund tracking the MSCI EMU NR EUR, while ICLN is a Alternative Energy Equities fund tracking the S&P Global Clean Energy Index. Both are passively managed. Over the past 10 years, ISX5.L returned 13.05%/yr vs 11.67%/yr for ICLN. At a 0.44 correlation, their price movements are largely independent. ISX5.L charges 0.00%/yr vs 0.39%/yr for ICLN.

Performance

ISX5.L vs. ICLN - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares Core EURO STOXX 50 UCITS ETF (ISX5.L) and iShares Global Clean Energy ETF (ICLN). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, ISX5.L achieves a 7.24% return, which is significantly lower than ICLN's 27.33% return. Over the past 10 years, ISX5.L has outperformed ICLN with an annualized return of 13.05%, while ICLN has yielded a comparatively lower 11.67% annualized return.

ISX5.L

• 1D: 2.46%
• 1M: 3.59%
• YTD: 7.24%
• 6M: 8.56%
• 1Y: 19.84%
• 3Y*: 18.31%
• 5Y*: 10.63%
• 10Y*: 13.05%

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%

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

ISX5.L vs. ICLN - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
ISX5.L iShares Core EURO STOXX 50 UCITS ETF	7.24%	37.35%	4.59%	26.91%	-13.63%	13.94%	6.81%	25.61%	1.58%	9.70%
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%

Correlation

The correlation between ISX5.L and ICLN is 0.42, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.42
Correlation (3Y) Calculated over the trailing 3-year period	0.39
Correlation (5Y) Calculated over the trailing 5-year period	0.41
Correlation (10Y) Calculated over the trailing 10-year period	0.41
Correlation (All Time) Calculated using the full available price history since Jan 26, 2010	0.44

ISX5.L vs. ICLN - Sectors Allocation Comparison

Sectors	ISX5.L	ICLN
Financial Services	24.5%	-
Industrials	20.7%	26.2%
Technology	18.7%	10.8%
Consumer Cyclical	9.9%	0.1%
Consumer Defensive	5.6%	-
Healthcare	5.2%	-
Energy	5.0%	24.9%
Utilities	4.6%	35.4%
Basic Materials	3.5%	1.3%
Communication Services	2.4%	-
Real Estate	-	-

Return for Risk

ISX5.L vs. ICLN — Risk / Return Rank

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

ISX5.L

ISX5.L Risk / Return Rank: 32
ISX5.L Sharpe Ratio Rank: 31
ISX5.L Sortino Ratio Rank: 32
ISX5.L Omega Ratio Rank: 31
ISX5.L Calmar Ratio Rank: 32
ISX5.L Martin Ratio Rank: 35

ICLN

ICLN Risk / Return Rank: 75
ICLN Sharpe Ratio Rank: 78
ICLN Sortino Ratio Rank: 70
ICLN Omega Ratio Rank: 67
ICLN Calmar Ratio Rank: 81
ICLN Martin Ratio Rank: 81

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.

ISX5.L vs. ICLN - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Core EURO STOXX 50 UCITS ETF (ISX5.L) and iShares Global Clean Energy ETF (ICLN). 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.

	ISX5.L	ICLN	Difference
Sharpe ratio: Return per unit of total volatility	0.98	2.17	-1.18
Sortino ratio: Return per unit of downside risk	1.55	2.73	-1.17
Omega ratio: Gain probability vs. loss probability	1.19	1.34	-0.16
Calmar ratio: Return relative to maximum drawdown	1.39	3.73	-2.34
Martin ratio: Return relative to average drawdown	4.69	13.84	-9.16

ISX5.L vs. ICLN - Sharpe Ratio Comparison

The current ISX5.L Sharpe Ratio is 0.98, which is lower than the ICLN Sharpe Ratio of 2.17. The chart below compares the historical Sharpe Ratios of ISX5.L and ICLN, 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

ISX5.L vs. ICLN - Drawdown Comparison

The maximum ISX5.L drawdown since its inception was -38.62%, smaller than the maximum ICLN drawdown of -87.15%. Use the drawdown chart below to compare losses from any high point for ISX5.L and ICLN.

Drawdown Indicators

	ISX5.L	ICLN	Difference
Max Drawdown Largest peak-to-trough decline	-38.62%	-87.15%	+48.53%
Max Drawdown (1Y) Largest decline over 1 year	-12.92%	-16.38%	+3.46%
Max Drawdown (3Y) Largest decline over 3 years	-15.36%	-43.18%	+27.82%
Max Drawdown (5Y) Largest decline over 5 years	-34.86%	-57.16%	+22.30%
Max Drawdown (10Y) Largest decline over 10 years	-38.62%	-66.75%	+28.13%
Current Drawdown Current decline from peak	-0.19%	-43.03%	+42.84%
Average Drawdown Average peak-to-trough decline	-8.34%	-66.56%	+58.22%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.85%	4.41%	-0.56%

Volatility

ISX5.L vs. ICLN - Volatility Comparison

The current volatility for iShares Core EURO STOXX 50 UCITS ETF (ISX5.L) is 5.29%, while iShares Global Clean Energy ETF (ICLN) has a volatility of 12.97%. This indicates that ISX5.L experiences smaller price fluctuations and is considered to be less risky than ICLN based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	ISX5.L	ICLN	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.29%	12.97%	-7.68%
Volatility (6M) Calculated over the trailing 6-month period	15.25%	22.62%	-7.37%
Volatility (1Y) Calculated over the trailing 1-year period	18.30%	28.21%	-9.91%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	21.91%	27.55%	-5.64%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	21.97%	27.32%	-5.35%

ISX5.L vs. ICLN - Expense Ratio Comparison

ISX5.L has a 0.00% expense ratio, which is lower than ICLN's 0.39% expense ratio.

Dividends

ISX5.L vs. ICLN - Dividend Comparison

ISX5.L has not paid dividends to shareholders, while ICLN's dividend yield for the trailing twelve months is around 1.28%.

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%
ISX5.L iShares Core EURO STOXX 50 UCITS ETF	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 ISX5.L and ICLN in my portfolio?

ISX5.L and ICLN have a correlation of 0.42, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, ISX5.L or ICLN?

On fees, ISX5.L is cheaper at 0.00% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, ISX5.L or ICLN?

ISX5.L is cheaper with a 0.00% expense ratio, compared with 0.39% for ICLN.

What is the main difference between ISX5.L and ICLN?

ISX5.L is categorized as Europe Equities, while ICLN is Alternative Energy Equities. ISX5.L tracks MSCI EMU NR EUR, while ICLN tracks S&P Global Clean Energy Index. Their fees differ too: 0.00% for ISX5.L and 0.39% for ICLN.