PIO vs. ICLN
Compare and contrast key facts about Invesco Global Water ETF (PIO) and iShares Global Clean Energy ETF (ICLN).
PIO and ICLN are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. PIO is a passively managed fund by Invesco that tracks the performance of the NASDAQ OMX Global Water Index. It was launched on Jun 13, 2007. ICLN is a passively managed fund by iShares that tracks the performance of the S&P Global Clean Energy Index. It was launched on Jun 24, 2008. Both PIO and ICLN are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: PIO or ICLN.
Key characteristics
| PIO | ICLN | |
|---|---|---|
| YTD Return | 5.08% | -19.97% |
| 1Y Return | 24.53% | -3.90% |
| 3Y Return (Ann) | 0.16% | -19.55% |
| 5Y Return (Ann) | 8.51% | 4.31% |
| 10Y Return (Ann) | 7.15% | 3.97% |
| Sharpe Ratio | 1.63 | -0.19 |
| Sortino Ratio | 2.27 | -0.09 |
| Omega Ratio | 1.28 | 0.99 |
| Calmar Ratio | 1.13 | -0.07 |
| Martin Ratio | 6.47 | -0.46 |
| Ulcer Index | 3.80% | 10.55% |
| Daily Std Dev | 15.09% | 25.83% |
| Max Drawdown | -64.91% | -87.16% |
| Current Drawdown | -4.61% | -67.25% |
Correlation
The correlation between PIO and ICLN is 0.65, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.
Performance
PIO vs. ICLN - Performance Comparison
In the year-to-date period, PIO achieves a 5.08% return, which is significantly higher than ICLN's -19.97% return. Over the past 10 years, PIO has outperformed ICLN with an annualized return of 7.15%, while ICLN has yielded a comparatively lower 3.97% annualized return. The chart below displays the growth of a $10,000 investment in both assets, with all prices adjusted for splits and dividends.
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PIO vs. ICLN - Expense Ratio Comparison
PIO has a 0.75% expense ratio, which is higher than ICLN's 0.46% expense ratio.
Risk-Adjusted Performance
PIO vs. ICLN - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco Global Water ETF (PIO) and iShares Global Clean Energy ETF (ICLN). 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.
Dividends
PIO vs. ICLN - Dividend Comparison
PIO's dividend yield for the trailing twelve months is around 0.82%, less than ICLN's 1.77% yield.
| TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
PIO Invesco Global Water ETF | 0.82% | 0.84% | 1.02% | 1.19% | 0.88% | 1.19% | 2.00% | 1.00% | 1.45% | 1.62% | 1.42% | 1.50% |
ICLN iShares Global Clean Energy ETF | 1.77% | 1.59% | 0.89% | 1.18% | 0.34% | 1.36% | 2.77% | 2.49% | 3.88% | 2.36% | 2.83% | 2.11% |
Drawdowns
PIO vs. ICLN - Drawdown Comparison
The maximum PIO drawdown since its inception was -64.91%, smaller than the maximum ICLN drawdown of -87.16%. Use the drawdown chart below to compare losses from any high point for PIO and ICLN. For additional features, visit the drawdowns tool.
Volatility
PIO vs. ICLN - Volatility Comparison
The current volatility for Invesco Global Water ETF (PIO) is 3.80%, while iShares Global Clean Energy ETF (ICLN) has a volatility of 9.28%. This indicates that PIO experiences smaller price fluctuations and is considered to be less risky than ICLN based on this measure. The chart below showcases a comparison of their rolling one-month volatility.