PWER vs. ICLN

Last updated Apr 3, 2026

Compare and contrast key facts about Macquarie Energy Transition ETF (PWER) and iShares Global Clean Energy ETF (ICLN).

PWER and ICLN are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. PWER is an actively managed fund by Macquarie. It was launched on Nov 28, 2023. 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.

Performance

PWER vs. ICLN - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Macquarie Energy Transition ETF (PWER) and iShares Global Clean Energy ETF (ICLN). The values are adjusted to include any dividend payments, if applicable.

PWER vs. ICLN - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
PWER Macquarie Energy Transition ETF	16.14%	35.28%	-3.50%	9.72%
ICLN iShares Global Clean Energy ETF	9.86%	47.05%	-25.72%	11.31%

Returns By Period

In the year-to-date period, PWER achieves a 16.14% return, which is significantly higher than ICLN's 9.86% return.

PWER

• 1D: -0.17%
• 1M: 0.58%
• YTD: 16.14%
• 6M: 23.78%
• 1Y: 59.46%
• 3Y*: —
• 5Y*: —
• 10Y*: —

ICLN

• 1D: -1.10%
• 1M: 1.86%
• YTD: 9.86%
• 6M: 14.48%
• 1Y: 59.17%
• 3Y*: -1.03%
• 5Y*: -4.37%
• 10Y*: 8.99%

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

PWER vs. ICLN - Expense Ratio Comparison

PWER has a 0.80% expense ratio, which is higher than ICLN's 0.46% expense ratio.

PWER

Macquarie Energy Transition ETF

ICLN

iShares Global Clean Energy ETF

Return for Risk

PWER vs. ICLN — Risk / Return Rank

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

PWER

PWER Risk / Return Rank: 93
PWER Sharpe Ratio Rank: 94
PWER Sortino Ratio Rank: 93
PWER Omega Ratio Rank: 93
PWER Calmar Ratio Rank: 89
PWER Martin Ratio Rank: 94

ICLN

ICLN Risk / Return Rank: 92
ICLN Sharpe Ratio Rank: 93
ICLN Sortino Ratio Rank: 93
ICLN Omega Ratio Rank: 86
ICLN Calmar Ratio Rank: 97
ICLN Martin Ratio Rank: 93

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.

PWER vs. ICLN - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Macquarie Energy Transition ETF (PWER) 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.

	PWER	ICLN	Difference
Sharpe ratio Return per unit of total volatility	2.37	2.27	+0.10
Sortino ratio Return per unit of downside risk	2.92	2.91	+0.01
Omega ratio Gain probability vs. loss probability	1.44	1.37	+0.07
Calmar ratio Return relative to maximum drawdown	3.55	5.35	-1.80
Martin ratio Return relative to average drawdown	17.34	14.89	+2.45
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

PWER vs. ICLN - Sharpe Ratio Comparison

The current PWER Sharpe Ratio is 2.37, which is comparable to the ICLN Sharpe Ratio of 2.27. The chart below compares the historical Sharpe Ratios of PWER and ICLN, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	PWER	ICLN	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.37	2.27	+0.10
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	-0.16	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.33	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.03	-0.12	+1.15

Correlation

The correlation between PWER and ICLN is 0.66, 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.

Dividends

PWER vs. ICLN - Dividend Comparison

PWER's dividend yield for the trailing twelve months is around 1.18%, less than ICLN's 1.48% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
PWER Macquarie Energy Transition ETF	1.18%	1.37%	1.05%	0.06%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
ICLN iShares Global Clean Energy ETF	1.48%	1.63%	1.85%	1.59%	0.89%	1.18%	0.34%	1.36%	2.77%	2.49%	3.88%	2.36%

Drawdowns

PWER vs. ICLN - Drawdown Comparison

The maximum PWER drawdown since its inception was -29.68%, smaller than the maximum ICLN drawdown of -87.15%. Use the drawdown chart below to compare losses from any high point for PWER and ICLN.

Drawdown Indicators

	PWER	ICLN	Difference
Max Drawdown Largest peak-to-trough decline	-29.68%	-87.15%	+57.47%
Max Drawdown (1Y) Largest decline over 1 year	-12.01%	-11.22%	-0.79%
Max Drawdown (5Y) Largest decline over 5 years	—	-57.16%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-66.75%	—
Current Drawdown Current decline from peak	-2.51%	-50.85%	+48.34%
Average Drawdown Average peak-to-trough decline	-6.59%	-66.83%	+60.24%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.54%	4.03%	-0.49%

Volatility

PWER vs. ICLN - Volatility Comparison

The current volatility for Macquarie Energy Transition ETF (PWER) is 6.96%, while iShares Global Clean Energy ETF (ICLN) has a volatility of 10.09%. This indicates that PWER 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.

Volatility by Period

	PWER	ICLN	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.96%	10.09%	-3.13%
Volatility (6M) Calculated over the trailing 6-month period	16.53%	20.36%	-3.83%
Volatility (1Y) Calculated over the trailing 1-year period	25.19%	26.17%	-0.98%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	23.69%	27.15%	-3.46%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	23.69%	27.03%	-3.34%