PBD vs. RAYS

Last updated Jun 4, 2026

PBD (Invesco Global Clean Energy ETF) and RAYS (Global X Solar ETF) are both Alternative Energy Equities funds - PBD tracks the WilderHill New Energy Global Innovation index while RAYS tracks the Solactive Solar Index. Both are passively managed. PBD charges 0.75%/yr vs 0.50%/yr for RAYS.

Performance

PBD vs. RAYS - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco Global Clean Energy ETF (PBD) and Global X Solar ETF (RAYS). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

PBD

• 1D: -0.93%
• 1M: 6.10%
• YTD: 38.50%
• 6M: 39.82%
• 1Y: 92.04%
• 3Y*: 8.96%
• 5Y*: -3.66%
• 10Y*: 9.45%

RAYS

• 1D: 0.00%
• 1M: 0.00%
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

PBD vs. RAYS - Yearly Performance Comparison

	2026 (YTD)
PBD Invesco Global Clean Energy ETF	23.61%
RAYS Global X Solar ETF	0.00%

PBD vs. RAYS - Sectors Allocation Comparison

Sectors	PBD	RAYS
Industrials	48.1%	21.4%
Energy	12.4%	-
Utilities	12.0%	6.8%
Consumer Cyclical	9.4%	4.0%
Technology	6.8%	66.9%
Basic Materials	3.4%	0.9%
Financial Services	1.2%	-
Consumer Defensive	0.9%	-
Communication Services	-	-
Healthcare	-	-
Real Estate	-	-

Return for Risk

PBD vs. RAYS — Risk / Return Rank

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

PBD

PBD Risk / Return Rank: 94
PBD Sharpe Ratio Rank: 95
PBD Sortino Ratio Rank: 93
PBD Omega Ratio Rank: 91
PBD Calmar Ratio Rank: 95
PBD 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.

PBD vs. RAYS - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco Global Clean Energy ETF (PBD) and Global X Solar ETF (RAYS). 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.

	PBD	RAYS	Difference
Sharpe ratio Return per unit of total volatility	3.96	—	—
Sortino ratio Return per unit of downside risk	4.64	—	—
Omega ratio Gain probability vs. loss probability	1.61	—	—
Calmar ratio Return relative to maximum drawdown	8.65	—	—
Martin ratio Return relative to average drawdown	26.96	—	—
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

Sharpe Ratios by Period

	PBD	RAYS	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	3.96	—	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.13	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.35	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.03	—	—

Drawdowns

PBD vs. RAYS - Drawdown Comparison

The maximum PBD drawdown since its inception was -78.60%, which is greater than RAYS's maximum drawdown of 0.00%. Use the drawdown chart below to compare losses from any high point for PBD and RAYS.

Drawdown Indicators

	PBD	RAYS	Difference
Max Drawdown Largest peak-to-trough decline	-78.60%	0.00%	-78.60%
Max Drawdown (1Y) Largest decline over 1 year	-10.70%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-52.45%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-69.15%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-75.40%	—	—
Current Drawdown Current decline from peak	-39.02%	0.00%	-39.02%
Average Drawdown Average peak-to-trough decline	-53.40%	0.00%	-53.40%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.43%	—	—

Volatility

Volatility by Period

	PBD	RAYS	Difference
Volatility (1M) Calculated over the trailing 1-month period	8.57%	—	—
Volatility (6M) Calculated over the trailing 6-month period	17.00%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	23.41%	0.00%	+23.41%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	28.37%	0.00%	+28.37%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	27.26%	0.00%	+27.26%

PBD vs. RAYS - Expense Ratio Comparison

PBD has a 0.75% expense ratio, which is higher than RAYS's 0.50% expense ratio.

Dividends

PBD vs. RAYS - Dividend Comparison

PBD's dividend yield for the trailing twelve months is around 1.63%, while RAYS has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
PBD Invesco Global Clean Energy ETF	1.63%	2.71%	1.81%	2.85%	2.98%	0.67%	0.48%	1.83%	1.86%	1.76%	2.04%	1.24%
RAYS Global X Solar ETF	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Which ETF is better, PBD or RAYS?

On fees, RAYS is cheaper at 0.50% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, PBD or RAYS?

RAYS is cheaper with a 0.50% expense ratio, compared with 0.75% for PBD.

Which ETF pays a higher dividend yield, PBD or RAYS?

PBD has the higher dividend yield at 1.63%, compared with 0.00% for RAYS.

What is the main difference between PBD and RAYS?

PBD tracks WilderHill New Energy Global Innovation index, while RAYS tracks Solactive Solar Index. They also come from different issuers: Invesco and Global X. Their fees differ too: 0.75% for PBD and 0.50% for RAYS.