IXC vs. ICLN

Last updated Jul 26, 2026

IXC (iShares Global Energy ETF) and ICLN (iShares Global Clean Energy ETF) are both exchange-traded funds - IXC is a Energy Equities fund tracking the S&P Global 1200 Energy Capped Index, 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, IXC returned 10.11%/yr vs 8.54%/yr for ICLN. Their 0.50 correlation means they have sometimes moved together and sometimes differently. IXC charges 0.40%/yr vs 0.39%/yr for ICLN.

Performance

IXC vs. ICLN - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares Global Energy ETF (IXC) 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, IXC achieves a 34.16% return, which is significantly higher than ICLN's 8.51% return. Over the past 10 years, IXC has outperformed ICLN with an annualized return of 10.11%, while ICLN has yielded a comparatively lower 8.54% annualized return.

IXC

• 1D: 0.13%
• 1M: 11.29%
• 6M: 23.33%
• YTD: 34.16%
• 1Y: 42.55%
• 3Y*: 16.45%
• 5Y*: 22.71%
• 10Y*: 10.11%
• ALL TIME*: 8.51%

ICLN

• 1D: -3.21%
• 1M: -12.37%
• 6M: -2.42%
• YTD: 8.51%
• 1Y: 28.61%
• 3Y*: -0.23%
• 5Y*: -3.38%
• 10Y*: 8.54%
• ALL TIME*: -3.87%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
ICLN iShares Global Clean Energy ETF	$75.84M	$93.70M	$122.85M
IXC iShares Global Energy ETF	$42.31M	$62.47M	$60.65M

IXC vs. ICLN - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
IXC iShares Global Energy ETF	34.16%	13.98%	1.95%	3.92%	48.51%	40.88%	-31.00%	12.67%	-14.85%	5.54%
ICLN iShares Global Clean Energy ETF	8.51%	47.05%	-25.72%	-20.41%	-5.43%	-24.18%	141.82%	44.36%	-9.03%	21.47%

Correlation

The correlation between IXC and ICLN is -0.01, meaning there was essentially no consistent relationship between their historical price movements. Each responded to its own set of market drivers.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	-0.01
Correlation (3Y) Balances recent behavior with more history.	0.19
Correlation (5Y) Shows whether the relationship held over a longer period.	0.26
Correlation (10Y) Provides a long-term view across more market conditions.	0.35
Correlation (All Time) Calculated using the full available price history since Jun 25, 2008	0.50

The correlation between IXC and ICLN shifts across timeframes, from -0.01 (1 year) to 0.50 (all time), reflecting how their relationship changes across market environments.

IXC vs. ICLN - Sectors Allocation Comparison

Sectors	IXC	ICLN
Energy	99.5%	8.9%
Utilities	0.2%	40.4%
Basic Materials	-	1.6%
Communication Services	-	-
Consumer Cyclical	-	0.1%
Consumer Defensive	-	-
Financial Services	-	0.1%
Healthcare	-	-
Industrials	-	22.8%
Real Estate	-	-
Technology	-	24.7%

Return for Risk

IXC vs. ICLN — Risk / Return Rank

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

IXC

IXC Risk / Return Rank: 81
IXC Sharpe Ratio Rank: 90
IXC Sortino Ratio Rank: 85
IXC Omega Ratio Rank: 84
IXC Calmar Ratio Rank: 75
IXC Martin Ratio Rank: 69

ICLN

ICLN Risk / Return Rank: 38
ICLN Sharpe Ratio Rank: 40
ICLN Sortino Ratio Rank: 39
ICLN Omega Ratio Rank: 36
ICLN Calmar Ratio Rank: 34
ICLN Martin Ratio Rank: 39

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.

IXC vs. ICLN - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Global Energy ETF (IXC) 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.

	IXC	ICLN	Difference
Sharpe ratio: Return per unit of total volatility	2.18	0.97	+1.21
Sortino ratio: Return per unit of downside risk	2.79	1.44	+1.35
Omega ratio: Gain probability vs. loss probability	1.36	1.17	+0.19
Calmar ratio: Return relative to maximum drawdown	2.75	1.17	+1.58
Martin ratio: Return relative to average drawdown	8.52	3.96	+4.56

IXC vs. ICLN - Sharpe Ratio Comparison

The current IXC Sharpe Ratio is 2.18, which is higher than the ICLN Sharpe Ratio of 0.97. The chart below compares the historical Sharpe Ratios of IXC 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

IXC vs. ICLN - Drawdown Comparison

The maximum IXC drawdown since its inception was -67.88%, smaller than the maximum ICLN drawdown of -87.15%. Use the drawdown chart below to compare losses from any high point for IXC and ICLN.

Drawdown Indicators

	IXC	ICLN	Difference
Max Drawdown Largest peak-to-trough decline	-67.88%	-87.15%	+19.27%
Max Drawdown (1Y) Largest decline over 1 year	-15.36%	-24.94%	+9.58%
Max Drawdown (3Y) Largest decline over 3 years	-19.06%	-40.82%	+21.76%
Max Drawdown (5Y) Largest decline over 5 years	-24.93%	-57.16%	+32.23%
Max Drawdown (10Y) Largest decline over 10 years	-64.16%	-66.75%	+2.59%
Current Drawdown Current decline from peak	-3.45%	-51.46%	+48.01%
Average Drawdown Average peak-to-trough decline	-17.43%	-66.44%	+49.01%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.94%	7.36%	-2.42%

Volatility

IXC vs. ICLN - Volatility Comparison

The current volatility for iShares Global Energy ETF (IXC) is 5.23%, while iShares Global Clean Energy ETF (ICLN) has a volatility of 10.43%. This indicates that IXC 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

	IXC	ICLN	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.23%	10.43%	-5.20%
Volatility (6M) Calculated over the trailing 6-month period	15.75%	24.87%	-9.12%
Volatility (1Y) Calculated over the trailing 1-year period	19.35%	30.01%	-10.66%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	23.35%	27.94%	-4.59%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	26.81%	27.45%	-0.64%

IXC vs. ICLN - Expense Ratio Comparison

IXC has a 0.40% expense ratio, which is higher than ICLN's 0.39% expense ratio.

Dividends

IXC vs. ICLN - Dividend Comparison

IXC's dividend yield for the trailing twelve months is around 2.83%, more than ICLN's 1.04% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
ICLN iShares Global Clean Energy ETF	1.04%	1.63%	1.85%	1.59%	0.89%	1.18%	0.34%	1.36%	2.77%	2.49%	3.88%	2.36%
IXC iShares Global Energy ETF	2.83%	3.68%	4.56%	3.45%	4.76%	3.98%	4.86%	7.00%	3.51%	3.05%	2.86%	3.77%

Frequently Asked Questions

Can I hold both IXC and ICLN in my portfolio?

IXC and ICLN have a correlation of -0.01, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, IXC or ICLN?

ICLN has higher volatility (10.43%) compared to IXC (5.23%). In terms of maximum drawdown, IXC dropped -67.88% vs ICLN's -87.15%.

Which ETF is better, IXC or ICLN?

On 10-year performance, IXC leads with 10.11% vs 8.54% for ICLN. On fees, ICLN is cheaper at 0.39% per year. On volatility, IXC has been the lower-risk option at 5.23%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, IXC or ICLN?

Over the 10-year period, IXC has performed better with a 10.11% return vs 8.54%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, IXC or ICLN?

ICLN is cheaper with a 0.39% expense ratio, compared with 0.40% for IXC.

Which ETF pays a higher dividend yield, IXC or ICLN?

IXC has the higher dividend yield at 2.83%, compared with 1.04% for ICLN.

What is the main difference between IXC and ICLN?

IXC is categorized as Energy Equities, while ICLN is Alternative Energy Equities. IXC tracks S&P Global 1200 Energy Capped Index, while ICLN tracks S&P Global Clean Energy Index. Their fees differ too: 0.40% for IXC and 0.39% for ICLN.

Which has better risk-adjusted returns?

IXC currently has the higher Sharpe Ratio (2.18 vs 0.97), 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.