N1ES.DE vs. G1CE.DE

Last updated Jul 16, 2026

N1ES.DE (Invesco Nasdaq-100 ESG UCITS ETF Acc) and G1CE.DE (Invesco Global Clean Energy UCITS ETF Acc) are both exchange-traded funds - N1ES.DE is a Nasdaq-100 fund tracking the Nasdaq 100® ESG, while G1CE.DE is a Energy Equities fund tracking the WilderHill New Energy Global Innovation. Both are passively managed. Over the past 3 years, N1ES.DE returned 24.44%/yr vs -0.62%/yr for G1CE.DE. A 0.57 correlation means they provide meaningful diversification when combined. N1ES.DE charges 0.25%/yr vs 0.60%/yr for G1CE.DE.

Performance

N1ES.DE vs. G1CE.DE - Performance Comparison

The chart below illustrates the hypothetical performance of a €10,000 investment in Invesco Nasdaq-100 ESG UCITS ETF Acc (N1ES.DE) and Invesco Global Clean Energy UCITS ETF Acc (G1CE.DE). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, N1ES.DE achieves a 20.65% return, which is significantly higher than G1CE.DE's 17.30% return.

N1ES.DE

• 1D: 0.00%
• 1M: -0.96%
• 6M: 20.55%
• YTD: 20.65%
• 1Y: 32.92%
• 3Y*: 24.44%
• 5Y*: —
• 10Y*: —

G1CE.DE

• 1D: -0.04%
• 1M: -8.21%
• 6M: 9.07%
• YTD: 17.30%
• 1Y: 44.23%
• 3Y*: -0.62%
• 5Y*: -6.40%
• 10Y*: —

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

N1ES.DE vs. G1CE.DE - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
N1ES.DE Invesco Nasdaq-100 ESG UCITS ETF Acc	20.65%	8.26%	33.55%	51.62%	-29.13%	10.00%
G1CE.DE Invesco Global Clean Energy UCITS ETF Acc	17.30%	27.42%	-22.22%	-13.48%	-25.43%	-10.12%

Correlation

The correlation between N1ES.DE and G1CE.DE is 0.65, 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	0.65
Correlation (3Y) Calculated over the trailing 3-year period	0.50
Correlation (All Time) Calculated using the full available price history since Oct 27, 2021	0.57

The correlation between N1ES.DE and G1CE.DE shifts across timeframes, from 0.50 (3 years) to 0.65 (1 year), reflecting how their relationship changes across market environments.

Return for Risk

N1ES.DE vs. G1CE.DE — Risk / Return Rank

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

N1ES.DE

N1ES.DE Risk / Return Rank: 67
N1ES.DE Sharpe Ratio Rank: 70
N1ES.DE Sortino Ratio Rank: 67
N1ES.DE Omega Ratio Rank: 65
N1ES.DE Calmar Ratio Rank: 74
N1ES.DE Martin Ratio Rank: 60

G1CE.DE

G1CE.DE Risk / Return Rank: 67
G1CE.DE Sharpe Ratio Rank: 75
G1CE.DE Sortino Ratio Rank: 66
G1CE.DE Omega Ratio Rank: 66
G1CE.DE Calmar Ratio Rank: 65
G1CE.DE Martin Ratio Rank: 63

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.

N1ES.DE vs. G1CE.DE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco Nasdaq-100 ESG UCITS ETF Acc (N1ES.DE) and Invesco Global Clean Energy UCITS ETF Acc (G1CE.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.

	N1ES.DE	G1CE.DE	Difference
Sharpe ratio: Return per unit of total volatility	1.82	1.91	-0.09
Sortino ratio: Return per unit of downside risk	2.47	2.46	+0.01
Omega ratio: Gain probability vs. loss probability	1.32	1.32	0.00
Calmar ratio: Return relative to maximum drawdown	3.05	2.63	+0.42
Martin ratio: Return relative to average drawdown	8.55	8.98	-0.43

N1ES.DE vs. G1CE.DE - Sharpe Ratio Comparison

The current N1ES.DE Sharpe Ratio is 1.82, which is comparable to the G1CE.DE Sharpe Ratio of 1.91. The chart below compares the historical Sharpe Ratios of N1ES.DE and G1CE.DE, 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

N1ES.DE vs. G1CE.DE - Drawdown Comparison

The maximum N1ES.DE drawdown since its inception was -29.96%, smaller than the maximum G1CE.DE drawdown of -74.86%. Use the drawdown chart below to compare losses from any high point for N1ES.DE and G1CE.DE.

Drawdown Indicators

	N1ES.DE	G1CE.DE	Difference
Max Drawdown Largest peak-to-trough decline	-29.96%	-74.86%	+44.90%
Max Drawdown (1Y) Largest decline over 1 year	-10.86%	-16.75%	+5.89%
Max Drawdown (3Y) Largest decline over 3 years	-26.65%	-52.76%	+26.11%
Max Drawdown (5Y) Largest decline over 5 years	—	-68.85%	—
Current Drawdown Current decline from peak	-1.78%	-49.68%	+47.90%
Average Drawdown Average peak-to-trough decline	-8.36%	-50.20%	+41.84%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.86%	4.91%	-1.05%

Volatility

N1ES.DE vs. G1CE.DE - Volatility Comparison

The current volatility for Invesco Nasdaq-100 ESG UCITS ETF Acc (N1ES.DE) is 6.12%, while Invesco Global Clean Energy UCITS ETF Acc (G1CE.DE) has a volatility of 8.03%. This indicates that N1ES.DE experiences smaller price fluctuations and is considered to be less risky than G1CE.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	N1ES.DE	G1CE.DE	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.12%	8.03%	-1.91%
Volatility (6M) Calculated over the trailing 6-month period	13.31%	17.55%	-4.24%
Volatility (1Y) Calculated over the trailing 1-year period	18.21%	23.08%	-4.87%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	20.81%	26.38%	-5.57%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.81%	28.02%	-7.21%

N1ES.DE vs. G1CE.DE - Expense Ratio Comparison

N1ES.DE has a 0.25% expense ratio, which is lower than G1CE.DE's 0.60% expense ratio.

Dividends

N1ES.DE vs. G1CE.DE - Dividend Comparison

Neither N1ES.DE nor G1CE.DE has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both N1ES.DE and G1CE.DE in my portfolio?

N1ES.DE and G1CE.DE have a correlation of 0.65, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, N1ES.DE or G1CE.DE?

On fees, N1ES.DE is cheaper at 0.25% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, N1ES.DE or G1CE.DE?

N1ES.DE is cheaper with a 0.25% expense ratio, compared with 0.60% for G1CE.DE.

What is the main difference between N1ES.DE and G1CE.DE?

N1ES.DE is categorized as Nasdaq-100, while G1CE.DE is Energy Equities. N1ES.DE tracks Nasdaq 100® ESG, while G1CE.DE tracks WilderHill New Energy Global Innovation. Their fees differ too: 0.25% for N1ES.DE and 0.60% for G1CE.DE.