MMLG vs. QCLN

Last updated Jun 4, 2026

MMLG (First Trust Multi-Manager Large Growth ETF) and QCLN (First Trust NASDAQ Clean Edge Green Energy Index Fund) are both exchange-traded funds - MMLG is a Large Cap Growth Equities fund actively managed by First Trust, while QCLN is a Alternative Energy Equities fund tracking the NASDAQ Clean Edge Green Energy. MMLG is actively managed, while QCLN is passively managed. Over the past 5 years, MMLG returned 8.34%/yr vs 2.16%/yr for QCLN. A 0.67 correlation means they provide meaningful diversification when combined. MMLG charges 0.85%/yr vs 0.60%/yr for QCLN.

Performance

MMLG vs. QCLN - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in First Trust Multi-Manager Large Growth ETF (MMLG) and First Trust NASDAQ Clean Edge Green Energy Index Fund (QCLN). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, MMLG achieves a 4.76% return, which is significantly lower than QCLN's 52.94% return.

MMLG

• 1D: -1.42%
• 1M: 4.92%
• YTD: 4.76%
• 6M: 4.14%
• 1Y: 16.13%
• 3Y*: 21.41%
• 5Y*: 8.34%
• 10Y*: —

QCLN

• 1D: -0.41%
• 1M: 16.40%
• YTD: 52.94%
• 6M: 50.79%
• 1Y: 120.21%
• 3Y*: 12.03%
• 5Y*: 2.16%
• 10Y*: 17.39%

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

MMLG vs. QCLN - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
MMLG First Trust Multi-Manager Large Growth ETF	4.76%	17.28%	25.96%	45.21%	-39.18%	13.23%	20.61%
QCLN First Trust NASDAQ Clean Edge Green Energy Index Fund	52.94%	31.81%	-18.86%	-10.02%	-30.37%	-3.21%	94.80%

Correlation

The correlation between MMLG and QCLN is 0.53, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.53
Correlation (3Y) Calculated over the trailing 3-year period	0.56
Correlation (5Y) Calculated over the trailing 5-year period	0.67
Correlation (All Time) Calculated using the full available price history since Jul 23, 2020	0.67

The correlation between MMLG and QCLN shifts across timeframes, from 0.53 (1 year) to 0.67 (5 years), reflecting how their relationship changes across market environments.

MMLG vs. QCLN - Sectors Allocation Comparison

Sectors	MMLG	QCLN
Technology	39.5%	20.8%
Financial Services	13.2%	1.9%
Consumer Cyclical	11.8%	9.4%
Industrials	10.5%	30.2%
Healthcare	9.2%	-
Communication Services	7.9%	-
Consumer Defensive	2.6%	-
Basic Materials	1.3%	9.4%
Energy	1.3%	13.2%
Utilities	1.3%	13.2%
Real Estate	-	-

Return for Risk

MMLG vs. QCLN — Risk / Return Rank

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

MMLG

MMLG Risk / Return Rank: 23
MMLG Sharpe Ratio Rank: 25
MMLG Sortino Ratio Rank: 24
MMLG Omega Ratio Rank: 24
MMLG Calmar Ratio Rank: 19
MMLG Martin Ratio Rank: 20

QCLN

QCLN Risk / Return Rank: 89
QCLN Sharpe Ratio Rank: 93
QCLN Sortino Ratio Rank: 84
QCLN Omega Ratio Rank: 79
QCLN Calmar Ratio Rank: 94
QCLN Martin Ratio Rank: 94

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.

MMLG vs. QCLN - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for First Trust Multi-Manager Large Growth ETF (MMLG) and First Trust NASDAQ Clean Edge Green Energy Index Fund (QCLN). 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.

	MMLG	QCLN	Difference
Sharpe ratio: Return per unit of total volatility	0.89	3.49	-2.60
Sortino ratio: Return per unit of downside risk	1.29	3.86	-2.56
Omega ratio: Gain probability vs. loss probability	1.16	1.48	-0.32
Calmar ratio: Return relative to maximum drawdown	0.81	7.62	-6.81
Martin ratio: Return relative to average drawdown	2.34	26.28	-23.94
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

MMLG vs. QCLN - Sharpe Ratio Comparison

The current MMLG Sharpe Ratio is 0.89, which is lower than the QCLN Sharpe Ratio of 3.49. The chart below compares the historical Sharpe Ratios of MMLG and QCLN, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	MMLG	QCLN	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.89	3.49	-2.60
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.34	0.06	+0.28
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.50	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.46	0.20	+0.26

Drawdowns

MMLG vs. QCLN - Drawdown Comparison

The maximum MMLG drawdown since its inception was -45.97%, smaller than the maximum QCLN drawdown of -76.18%. Use the drawdown chart below to compare losses from any high point for MMLG and QCLN.

Drawdown Indicators

	MMLG	QCLN	Difference
Max Drawdown Largest peak-to-trough decline	-45.97%	-76.18%	+30.21%
Max Drawdown (1Y) Largest decline over 1 year	-19.89%	-15.86%	-4.03%
Max Drawdown (3Y) Largest decline over 3 years	-26.57%	-56.08%	+29.51%
Max Drawdown (5Y) Largest decline over 5 years	-45.97%	-69.49%	+23.52%
Max Drawdown (10Y) Largest decline over 10 years	—	-71.73%	—
Current Drawdown Current decline from peak	-2.17%	-20.99%	+18.82%
Average Drawdown Average peak-to-trough decline	-14.36%	-43.45%	+29.09%
Ulcer Index Depth and duration of drawdowns from previous peaks	6.91%	4.59%	+2.32%

Volatility

MMLG vs. QCLN - Volatility Comparison

The current volatility for First Trust Multi-Manager Large Growth ETF (MMLG) is 4.37%, while First Trust NASDAQ Clean Edge Green Energy Index Fund (QCLN) has a volatility of 12.56%. This indicates that MMLG experiences smaller price fluctuations and is considered to be less risky than QCLN based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	MMLG	QCLN	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.37%	12.56%	-8.19%
Volatility (6M) Calculated over the trailing 6-month period	14.03%	26.02%	-11.99%
Volatility (1Y) Calculated over the trailing 1-year period	18.22%	34.88%	-16.66%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	24.94%	37.97%	-13.03%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	24.54%	34.91%	-10.37%

MMLG vs. QCLN - Expense Ratio Comparison

MMLG has a 0.85% expense ratio, which is higher than QCLN's 0.60% expense ratio.

Dividends

MMLG vs. QCLN - Dividend Comparison

MMLG has not paid dividends to shareholders, while QCLN's dividend yield for the trailing twelve months is around 0.15%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
MMLG First Trust Multi-Manager Large Growth ETF	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.25%	0.00%	0.00%	0.00%	0.00%	0.00%
QCLN First Trust NASDAQ Clean Edge Green Energy Index Fund	0.15%	0.25%	0.87%	0.76%	0.33%	0.01%	0.30%	0.85%	1.03%	0.45%	1.24%	0.72%

Frequently Asked Questions

Can I hold both MMLG and QCLN in my portfolio?

MMLG and QCLN have a correlation of 0.53, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, MMLG or QCLN?

QCLN has higher volatility (12.56%) compared to MMLG (4.37%). In terms of maximum drawdown, MMLG dropped -45.97% vs QCLN's -76.18%.

Which ETF is better, MMLG or QCLN?

On 5-year performance, MMLG leads with 8.34% vs 2.16% for QCLN. On fees, QCLN is cheaper at 0.60% per year. On volatility, MMLG has been the lower-risk option at 4.37%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, MMLG or QCLN?

Over the 5-year period, MMLG has performed better with a 8.34% return vs 2.16%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, MMLG or QCLN?

QCLN is cheaper with a 0.60% expense ratio, compared with 0.85% for MMLG.

Which ETF pays a higher dividend yield, MMLG or QCLN?

QCLN has the higher dividend yield at 0.15%, compared with 0.00% for MMLG.

What is the main difference between MMLG and QCLN?

MMLG is categorized as Large Cap Growth Equities, while QCLN is Alternative Energy Equities. Their fees differ too: 0.85% for MMLG and 0.60% for QCLN.

Which has better risk-adjusted returns?

QCLN currently has the higher Sharpe Ratio (3.49 vs 0.89), 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.