PXE vs. RAYS

Last updated Aug 4, 2026

PXE (Invesco Dynamic Energy Exploration & Production ETF) and RAYS (Global X Solar ETF) are both exchange-traded funds - PXE is a Energy Equities fund tracking the Dynamic Energy Exploration & Production Intellidex Index, while RAYS is a Alternative Energy Equities fund tracking the Solactive Solar Index. Both are passively managed. PXE charges 0.63%/yr vs 0.50%/yr for RAYS.

Performance

PXE vs. RAYS - Performance Comparison

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

Returns By Period

PXE

• 1D: -1.42%
• 1M: 11.73%
• 6M: 30.07%
• YTD: 37.35%
• 1Y: 40.97%
• 3Y*: 9.38%
• 5Y*: 23.28%
• 10Y*: 9.15%
• ALL TIME*: 6.40%

RAYS

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

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
PXE Invesco Dynamic Energy Exploration & Production ETF	$1.19M	$1.10M	$1.96M
RAYS Global X Solar ETF	$0.00	$0.00	$0.00

PXE vs. RAYS - Yearly Performance Comparison

	2026 (YTD)
PXE Invesco Dynamic Energy Exploration & Production ETF	23.56%
RAYS Global X Solar ETF	0.00%

Return for Risk

PXE vs. RAYS — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

PXE

PXE Risk / Return Rank: 57
PXE Sharpe Ratio Rank: 61
PXE Sortino Ratio Rank: 56
PXE Omega Ratio Rank: 53
PXE Calmar Ratio Rank: 68
PXE Martin Ratio Rank: 49

RAYS

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

PXE vs. RAYS - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco Dynamic Energy Exploration & Production ETF (PXE) 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.

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.

	PXE	RAYS	Difference
Sharpe ratio: Return per unit of total volatility	1.50	—	—
Sortino ratio: Return per unit of downside risk	2.00	—	—
Omega ratio: Gain probability vs. loss probability	1.25	—	—
Calmar ratio: Return relative to maximum drawdown	2.47	—	—
Martin ratio: Return relative to average drawdown	5.86	—	—

Drawdowns

PXE vs. RAYS - Drawdown Comparison

The maximum PXE drawdown since its inception was -83.99%, which is greater than RAYS's maximum drawdown of 0.00%. Use the drawdown chart below to compare losses from any high point for PXE and RAYS.

Drawdown Indicators

	PXE	RAYS	Difference
Max Drawdown Largest peak-to-trough decline	-83.99%	0.00%	-83.99%
Max Drawdown (1Y) Largest decline over 1 year	-16.70%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-37.65%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-37.65%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-80.17%	—	—
Current Drawdown Current decline from peak	-5.00%	0.00%	-5.00%
Average Drawdown Average peak-to-trough decline	-27.85%	0.00%	-27.85%
Ulcer Index Depth and duration of drawdowns from previous peaks	7.01%	—	—

Volatility

Volatility by Period

	PXE	RAYS	Difference
Volatility (1M) Calculated over the trailing 1-month period	8.10%	—	—
Volatility (6M) Calculated over the trailing 6-month period	21.59%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	27.57%	0.00%	+27.57%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	33.26%	0.00%	+33.26%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	36.95%	0.00%	+36.95%

PXE vs. RAYS - Expense Ratio Comparison

PXE has a 0.63% expense ratio, which is higher than RAYS's 0.50% expense ratio.

Dividends

PXE vs. RAYS - Dividend Comparison

PXE's dividend yield for the trailing twelve months is around 1.74%, while RAYS has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
PXE Invesco Dynamic Energy Exploration & Production ETF	1.74%	2.98%	2.54%	2.78%	3.03%	1.86%	4.10%	1.70%	1.29%	1.54%	6.62%	2.58%
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, PXE 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, PXE or RAYS?

RAYS is cheaper with a 0.50% expense ratio, compared with 0.63% for PXE.

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

PXE has the higher dividend yield at 1.74%, compared with 0.00% for RAYS.

What is the main difference between PXE and RAYS?

PXE is categorized as Energy Equities, while RAYS is Alternative Energy Equities. PXE tracks Dynamic Energy Exploration & Production Intellidex Index, while RAYS tracks Solactive Solar Index. They also come from different issuers: Invesco and Global X. Their fees differ too: 0.63% for PXE and 0.50% for RAYS.