MLPQ.L vs. RAYG.L
MLPQ.L (Invesco Morningstar US Energy Infrastructure MLP UCITS ETF) and RAYG.L (Global X Solar UCITS ETF USD Accumulating) are both Energy Equities funds - MLPQ.L tracks the MSCI World/Energy NR USD while RAYG.L tracks the S&P Global Clean Energy TR USD. Both are passively managed. Over the past 3 years, MLPQ.L returned 15.76%/yr vs -4.78%/yr for RAYG.L. At a 0.15 correlation, their price movements are largely independent. Both charge a 0.50% expense ratio.
Performance
MLPQ.L vs. RAYG.L - Performance Comparison
Loading charts...
Different Trading Currencies
MLPQ.L is traded in GBp, while RAYG.L is traded in GBP. To make them comparable, the RAYG.L values have been converted to GBp using the latest available exchange rates.
Returns By Period
In the year-to-date period, MLPQ.L achieves a 18.94% return, which is significantly lower than RAYG.L's 21.50% return.
MLPQ.L
- 1D
- -0.55%
- 1M
- 0.83%
- YTD
- 18.94%
- 6M
- 13.87%
- 1Y
- 16.79%
- 3Y*
- 15.76%
- 5Y*
- 18.54%
- 10Y*
- 7.75%
RAYG.L
- 1D
- -2.44%
- 1M
- 4.77%
- YTD
- 21.50%
- 6M
- 25.77%
- 1Y
- 84.67%
- 3Y*
- -4.78%
- 5Y*
- —
- 10Y*
- —
MLPQ.L vs. RAYG.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
MLPQ.L Invesco Morningstar US Energy Infrastructure MLP UCITS ETF | 18.94% | -4.55% | 24.63% | 12.94% | 29.52% |
RAYG.L Global X Solar UCITS ETF USD Accumulating | 21.50% | 30.23% | -27.04% | -36.40% | 16.05% |
Correlation
The correlation between MLPQ.L and RAYG.L is -0.11, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.11 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.10 |
Correlation (All Time) Calculated using the full available price history since Feb 18, 2022 | 0.15 |
The correlation between MLPQ.L and RAYG.L shifts across timeframes, from -0.11 (1 year) to 0.15 (all time), reflecting how their relationship changes across market environments.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
MLPQ.L vs. RAYG.L — Risk / Return Rank
MLPQ.L
RAYG.L
MLPQ.L vs. RAYG.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco Morningstar US Energy Infrastructure MLP UCITS ETF (MLPQ.L) and Global X Solar UCITS ETF USD Accumulating (RAYG.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.
| MLPQ.L | RAYG.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.65 | ||
| Sortino ratioReturn per unit of downside risk | -1.99 | ||
| Omega ratioGain probability vs. loss probability | 1.18 | 1.41 | -0.23 |
| Calmar ratioReturn relative to maximum drawdown | 1.84 | 5.82 | -3.97 |
| Martin ratioReturn relative to average drawdown | 4.31 | 14.72 | -10.41 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
Loading charts...
Sharpe Ratios by Period
| MLPQ.L | RAYG.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.04 | 2.69 | -1.65 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.94 | — | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.28 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.19 | -0.11 | +0.30 |
Drawdowns
MLPQ.L vs. RAYG.L - Drawdown Comparison
The maximum MLPQ.L drawdown since its inception was -75.62%, which is greater than RAYG.L's maximum drawdown of -71.14%. Use the drawdown chart below to compare losses from any high point for MLPQ.L and RAYG.L.
Loading charts...
Drawdown Indicators
| MLPQ.L | RAYG.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -75.62% | -71.14% | -4.48% |
Max Drawdown (1Y)Largest decline over 1 year | -9.07% | -14.48% | +5.41% |
Max Drawdown (3Y)Largest decline over 3 years | -19.04% | -58.12% | +39.08% |
Max Drawdown (5Y)Largest decline over 5 years | -19.04% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -74.07% | — | — |
Current DrawdownCurrent decline from peak | -3.53% | -42.21% | +38.68% |
Average DrawdownAverage peak-to-trough decline | -20.03% | -42.80% | +22.77% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.89% | 5.73% | -1.84% |
Volatility
MLPQ.L vs. RAYG.L - Volatility Comparison
The current volatility for Invesco Morningstar US Energy Infrastructure MLP UCITS ETF (MLPQ.L) is 6.19%, while Global X Solar UCITS ETF USD Accumulating (RAYG.L) has a volatility of 8.58%. This indicates that MLPQ.L experiences smaller price fluctuations and is considered to be less risky than RAYG.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| MLPQ.L | RAYG.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.19% | 8.58% | -2.39% |
Volatility (6M)Calculated over the trailing 6-month period | 12.70% | 21.55% | -8.85% |
Volatility (1Y)Calculated over the trailing 1-year period | 16.11% | 31.33% | -15.22% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 19.75% | 32.59% | -12.84% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 27.79% | 32.59% | -4.80% |
MLPQ.L vs. RAYG.L - Expense Ratio Comparison
Both MLPQ.L and RAYG.L have an expense ratio of 0.50%.
Dividends
MLPQ.L vs. RAYG.L - Dividend Comparison
Neither MLPQ.L nor RAYG.L has paid dividends to shareholders.
Frequently Asked Questions
MLPQ.L and RAYG.L have a correlation of -0.11, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
Both ETFs have the same 0.50% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.
MLPQ.L and RAYG.L have the same expense ratio: 0.50% per year.
MLPQ.L tracks MSCI World/Energy NR USD, while RAYG.L tracks S&P Global Clean Energy TR USD. They also come from different issuers: Invesco and Global X.
Find the right allocation for MLPQ.L and RAYG.L
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer