PANW vs. QCLN

Last updated Jun 13, 2026

PANW (Palo Alto Networks, Inc.) is a stock, while QCLN (First Trust NASDAQ Clean Edge Green Energy Index Fund) is Alternative Energy Equities fund tracking the NASDAQ Clean Edge Green Energy. Over the past 10 years, PANW returned 29.12%/yr vs 16.43%/yr for QCLN. At a 0.42 correlation, their price movements are largely independent.

Performance

PANW vs. QCLN - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Palo Alto Networks, Inc. (PANW) 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, PANW achieves a 51.80% return, which is significantly higher than QCLN's 37.91% return. Over the past 10 years, PANW has outperformed QCLN with an annualized return of 29.12%, while QCLN has yielded a comparatively lower 16.43% annualized return.

PANW

• 1D: 0.03%
• 1M: 17.38%
• YTD: 51.80%
• 6M: 45.87%
• 1Y: 42.47%
• 3Y*: 33.77%
• 5Y*: 35.61%
• 10Y*: 29.12%

QCLN

• 1D: 1.67%
• 1M: -2.49%
• YTD: 37.91%
• 6M: 35.67%
• 1Y: 90.42%
• 3Y*: 6.19%
• 5Y*: -0.62%
• 10Y*: 16.43%

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

PANW vs. QCLN - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
PANW Palo Alto Networks, Inc.	51.80%	1.23%	23.41%	111.32%	-24.81%	56.66%	53.68%	22.78%	29.95%	15.91%
QCLN First Trust NASDAQ Clean Edge Green Energy Index Fund	37.91%	31.81%	-18.86%	-10.02%	-30.37%	-3.21%	184.00%	42.65%	-12.38%	32.34%

Correlation

The correlation between PANW and QCLN is 0.20, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.20
Correlation (3Y) Calculated over the trailing 3-year period	0.25
Correlation (5Y) Calculated over the trailing 5-year period	0.39
Correlation (10Y) Calculated over the trailing 10-year period	0.43
Correlation (All Time) Calculated using the full available price history since Jul 20, 2012	0.42

Over the past year, the correlation between PANW and QCLN has dropped to 0.20 - well below their long-term average of 0.42, suggesting their price drivers have been diverging.

Return for Risk

PANW vs. QCLN — Risk / Return Rank

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

PANW

PANW Risk / Return Rank: 69
PANW Sharpe Ratio Rank: 75
PANW Sortino Ratio Rank: 69
PANW Omega Ratio Rank: 70
PANW Calmar Ratio Rank: 66
PANW Martin Ratio Rank: 66

QCLN

QCLN Risk / Return Rank: 83
QCLN Sharpe Ratio Rank: 87
QCLN Sortino Ratio Rank: 75
QCLN Omega Ratio Rank: 73
QCLN Calmar Ratio Rank: 92
QCLN Martin Ratio Rank: 90

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.

PANW vs. QCLN - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Palo Alto Networks, Inc. (PANW) 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.

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.

	PANW	QCLN	Difference
Sharpe ratio: Return per unit of total volatility	1.07	2.46	-1.39
Sortino ratio: Return per unit of downside risk	1.57	2.89	-1.32
Omega ratio: Gain probability vs. loss probability	1.21	1.37	-0.16
Calmar ratio: Return relative to maximum drawdown	1.16	5.51	-4.35
Martin ratio: Return relative to average drawdown	2.62	18.21	-15.59

PANW vs. QCLN - Sharpe Ratio Comparison

The current PANW Sharpe Ratio is 1.07, which is lower than the QCLN Sharpe Ratio of 2.46. The chart below compares the historical Sharpe Ratios of PANW 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.

Drawdowns

PANW vs. QCLN - Drawdown Comparison

The maximum PANW drawdown since its inception was -47.98%, smaller than the maximum QCLN drawdown of -76.18%. Use the drawdown chart below to compare losses from any high point for PANW and QCLN.

Drawdown Indicators

	PANW	QCLN	Difference
Max Drawdown Largest peak-to-trough decline	-47.98%	-76.18%	+28.20%
Max Drawdown (1Y) Largest decline over 1 year	-36.01%	-16.40%	-19.61%
Max Drawdown (3Y) Largest decline over 3 years	-36.01%	-56.08%	+20.07%
Max Drawdown (5Y) Largest decline over 5 years	-36.01%	-69.49%	+33.48%
Max Drawdown (10Y) Largest decline over 10 years	-47.98%	-71.73%	+23.75%
Current Drawdown Current decline from peak	-6.94%	-28.75%	+21.81%
Average Drawdown Average peak-to-trough decline	-14.68%	-43.42%	+28.74%
Ulcer Index Depth and duration of drawdowns from previous peaks	15.87%	4.95%	+10.92%

Volatility

PANW vs. QCLN - Volatility Comparison

Palo Alto Networks, Inc. (PANW) and First Trust NASDAQ Clean Edge Green Energy Index Fund (QCLN) have volatilities of 16.97% and 16.96%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	PANW	QCLN	Difference
Volatility (1M) Calculated over the trailing 1-month period	16.97%	16.96%	+0.01%
Volatility (6M) Calculated over the trailing 6-month period	32.33%	28.95%	+3.38%
Volatility (1Y) Calculated over the trailing 1-year period	38.96%	36.71%	+2.25%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	41.72%	38.33%	+3.39%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	38.62%	35.10%	+3.52%

Dividends

PANW vs. QCLN - Dividend Comparison

PANW has not paid dividends to shareholders, while QCLN's dividend yield for the trailing twelve months is around 0.16%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
PANW Palo Alto Networks, Inc.	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
QCLN First Trust NASDAQ Clean Edge Green Energy Index Fund	0.16%	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 PANW and QCLN in my portfolio?

PANW and QCLN have a correlation of 0.20, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, PANW or QCLN?

PANW has higher volatility (16.97%) compared to QCLN (16.96%). In terms of maximum drawdown, PANW dropped -47.98% vs QCLN's -76.18%.

Which has better risk-adjusted returns?

QCLN currently has the higher Sharpe Ratio (2.46 vs 1.07), 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.