QCLN.L vs. GCLX.L

Last updated Jun 5, 2026

QCLN.L (First Trust Nasdaq Clean Edge Green Energy UCITS ETF Acc) and GCLX.L (Invesco Global Clean Energy UCITS ETF Acc) are both Energy Equities funds tracking the S&P Global Clean Energy TR USD, from First Trust and Invesco respectively. Both are passively managed. Over the past 5 years, QCLN.L returned 2.45%/yr vs -3.55%/yr for GCLX.L. Their correlation of 0.88 suggests significant overlap in exposure. Both charge a 0.60% expense ratio.

Performance

QCLN.L vs. GCLX.L - Performance Comparison

The chart below illustrates the hypothetical performance of a £10,000 investment in First Trust Nasdaq Clean Edge Green Energy UCITS ETF Acc (QCLN.L) and Invesco Global Clean Energy UCITS ETF Acc (GCLX.L). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, QCLN.L achieves a 50.74% return, which is significantly higher than GCLX.L's 36.06% return.

QCLN.L

• 1D: -1.62%
• 1M: 15.04%
• YTD: 50.74%
• 6M: 46.10%
• 1Y: 117.65%
• 3Y*: 8.19%
• 5Y*: 2.45%
• 10Y*: —

GCLX.L

• 1D: -0.90%
• 1M: 3.33%
• YTD: 36.06%
• 6M: 36.43%
• 1Y: 88.67%
• 3Y*: 5.24%
• 5Y*: -3.55%
• 10Y*: —

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

QCLN.L vs. GCLX.L - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
QCLN.L First Trust Nasdaq Clean Edge Green Energy UCITS ETF Acc	50.74%	20.09%	-17.94%	-12.66%	-23.26%	-6.54%
GCLX.L Invesco Global Clean Energy UCITS ETF Acc	36.06%	32.48%	-25.40%	-15.38%	-22.45%	-19.67%

Correlation

The correlation between QCLN.L and GCLX.L is 0.85, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.86
Correlation (3Y) Calculated over the trailing 3-year period	0.86
Correlation (5Y) Calculated over the trailing 5-year period	0.88
Correlation (All Time) Calculated using the full available price history since Mar 3, 2021	0.88

The correlation between QCLN.L and GCLX.L has been stable across timeframes, ranging from 0.85 to 0.88 - a consistent structural relationship.

QCLN.L vs. GCLX.L - Sectors Allocation Comparison

Sectors	QCLN.L	GCLX.L
Technology	46.8%	6.8%
Industrials	28.6%	47.5%
Consumer Cyclical	10.8%	10.2%
Basic Materials	6.4%	3.4%
Utilities	5.2%	16.1%
Financial Services	2.0%	0.9%
Energy	0.2%	13.6%
Communication Services	-	-
Consumer Defensive	-	0.9%
Healthcare	-	-
Real Estate	-	-

Return for Risk

QCLN.L vs. GCLX.L — Risk / Return Rank

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

QCLN.L

QCLN.L Risk / Return Rank: 90
QCLN.L Sharpe Ratio Rank: 93
QCLN.L Sortino Ratio Rank: 89
QCLN.L Omega Ratio Rank: 80
QCLN.L Calmar Ratio Rank: 95
QCLN.L Martin Ratio Rank: 93

GCLX.L

GCLX.L Risk / Return Rank: 95
GCLX.L Sharpe Ratio Rank: 96
GCLX.L Sortino Ratio Rank: 95
GCLX.L Omega Ratio Rank: 94
GCLX.L Calmar Ratio Rank: 95
GCLX.L 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.

QCLN.L vs. GCLX.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for First Trust Nasdaq Clean Edge Green Energy UCITS ETF Acc (QCLN.L) and Invesco Global Clean Energy UCITS ETF Acc (GCLX.L). 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.

	QCLN.L	GCLX.L	Difference
Sharpe ratio: Return per unit of total volatility	3.44	4.21	-0.77
Sortino ratio: Return per unit of downside risk	4.03	4.95	-0.92
Omega ratio: Gain probability vs. loss probability	1.47	1.67	-0.20
Calmar ratio: Return relative to maximum drawdown	7.96	8.26	-0.30
Martin ratio: Return relative to average drawdown	25.08	27.52	-2.44
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

QCLN.L vs. GCLX.L - Sharpe Ratio Comparison

The current QCLN.L Sharpe Ratio is 3.44, which is comparable to the GCLX.L Sharpe Ratio of 4.21. The chart below compares the historical Sharpe Ratios of QCLN.L and GCLX.L, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	QCLN.L	GCLX.L	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	3.44	4.21	-0.77
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.07	-0.14	+0.21
Sharpe Ratio (All Time) Calculated using the full available price history	-0.10	-0.24	+0.14

Drawdowns

QCLN.L vs. GCLX.L - Drawdown Comparison

The maximum QCLN.L drawdown since its inception was -69.87%, roughly equal to the maximum GCLX.L drawdown of -69.45%. Use the drawdown chart below to compare losses from any high point for QCLN.L and GCLX.L.

Drawdown Indicators

	QCLN.L	GCLX.L	Difference
Max Drawdown Largest peak-to-trough decline	-69.87%	-69.45%	-0.42%
Max Drawdown (1Y) Largest decline over 1 year	-14.69%	-10.67%	-4.02%
Max Drawdown (3Y) Largest decline over 3 years	-56.66%	-52.84%	-3.82%
Max Drawdown (5Y) Largest decline over 5 years	-68.64%	-68.40%	-0.24%
Current Drawdown Current decline from peak	-21.08%	-29.12%	+8.04%
Average Drawdown Average peak-to-trough decline	-40.89%	-40.37%	-0.52%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.67%	3.21%	+1.46%

Volatility

QCLN.L vs. GCLX.L - Volatility Comparison

First Trust Nasdaq Clean Edge Green Energy UCITS ETF Acc (QCLN.L) has a higher volatility of 14.86% compared to Invesco Global Clean Energy UCITS ETF Acc (GCLX.L) at 8.47%. This indicates that QCLN.L's price experiences larger fluctuations and is considered to be riskier than GCLX.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	QCLN.L	GCLX.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	14.86%	8.47%	+6.39%
Volatility (6M) Calculated over the trailing 6-month period	24.36%	14.49%	+9.87%
Volatility (1Y) Calculated over the trailing 1-year period	34.07%	20.98%	+13.09%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	35.87%	25.59%	+10.28%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	36.95%	26.20%	+10.75%

QCLN.L vs. GCLX.L - Expense Ratio Comparison

Both QCLN.L and GCLX.L have an expense ratio of 0.60%.

Dividends

QCLN.L vs. GCLX.L - Dividend Comparison

Neither QCLN.L nor GCLX.L has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both QCLN.L and GCLX.L in my portfolio?

QCLN.L and GCLX.L have a correlation of 0.85, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, QCLN.L or GCLX.L?

Both ETFs have the same 0.60% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, QCLN.L or GCLX.L?

QCLN.L and GCLX.L have the same expense ratio: 0.60% per year.

What is the main difference between QCLN.L and GCLX.L?

Both ETFs track S&P Global Clean Energy TR USD. They also come from different issuers: First Trust and Invesco.