QCLN.L vs. PMLP.L

Last updated Jun 26, 2026

QCLN.L (First Trust Nasdaq Clean Edge Green Energy UCITS ETF Acc) and PMLP.L (HANetf Alerian Midstream Energy Dividend UCITS ETF) are both Energy Equities funds - QCLN.L tracks the S&P Global Clean Energy TR USD while PMLP.L tracks the MSCI World/Energy NR USD. Both are passively managed. Over the past 5 years, QCLN.L returned -0.93%/yr vs 19.81%/yr for PMLP.L. At a 0.23 correlation, their price movements are largely independent. QCLN.L charges 0.60%/yr vs 0.40%/yr for PMLP.L.

Performance

QCLN.L vs. PMLP.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 HANetf Alerian Midstream Energy Dividend UCITS ETF (PMLP.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 37.73% return, which is significantly higher than PMLP.L's 29.65% return.

QCLN.L

• 1D: -2.16%
• 1M: -7.26%
• YTD: 37.73%
• 6M: 33.39%
• 1Y: 95.76%
• 3Y*: 5.99%
• 5Y*: -0.93%
• 10Y*: —

PMLP.L

• 1D: 1.39%
• 1M: -0.06%
• YTD: 29.65%
• 6M: 30.68%
• 1Y: 36.13%
• 3Y*: 24.56%
• 5Y*: 19.81%
• 10Y*: —

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

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

	2026 (YTD)	2025	2024	2023	2022	2021	2020
QCLN.L First Trust Nasdaq Clean Edge Green Energy UCITS ETF Acc	37.73%	20.09%	-17.94%	-12.66%	-23.26%	6,519.75%	38.32%
PMLP.L HANetf Alerian Midstream Energy Dividend UCITS ETF	29.65%	-1.39%	35.81%	7.60%	35.33%	34.86%	-17.91%

Correlation

The correlation between QCLN.L and PMLP.L is -0.12, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	-0.12
Correlation (3Y) Calculated over the trailing 3-year period	0.09
Correlation (5Y) Calculated over the trailing 5-year period	0.21
Correlation (All Time) Calculated using the full available price history since Jul 27, 2020	0.23

The correlation between QCLN.L and PMLP.L shifts across timeframes, from -0.12 (1 year) to 0.23 (all time), reflecting how their relationship changes across market environments.

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

Sectors	QCLN.L	PMLP.L
Technology	50.9%	-
Industrials	26.3%	-
Consumer Cyclical	10.2%	-
Utilities	5.9%	-
Basic Materials	5.0%	-
Financial Services	1.7%	-
Energy	0.1%	100.0%
Communication Services	-	-
Consumer Defensive	-	-
Healthcare	-	-
Real Estate	-	-

Return for Risk

QCLN.L vs. PMLP.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: 87
QCLN.L Sharpe Ratio Rank: 91
QCLN.L Sortino Ratio Rank: 84
QCLN.L Omega Ratio Rank: 74
QCLN.L Calmar Ratio Rank: 94
QCLN.L Martin Ratio Rank: 91

PMLP.L

PMLP.L Risk / Return Rank: 63
PMLP.L Sharpe Ratio Rank: 66
PMLP.L Sortino Ratio Rank: 60
PMLP.L Omega Ratio Rank: 58
PMLP.L Calmar Ratio Rank: 74
PMLP.L Martin Ratio Rank: 59

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. PMLP.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 HANetf Alerian Midstream Energy Dividend UCITS ETF (PMLP.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.

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.

	QCLN.L	PMLP.L	Difference
Sharpe ratio: Return per unit of total volatility	2.69	1.88	+0.81
Sortino ratio: Return per unit of downside risk	3.26	2.47	+0.79
Omega ratio: Gain probability vs. loss probability	1.38	1.31	+0.07
Calmar ratio: Return relative to maximum drawdown	6.24	3.32	+2.92
Martin ratio: Return relative to average drawdown	18.58	9.23	+9.35

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

The current QCLN.L Sharpe Ratio is 2.69, which is higher than the PMLP.L Sharpe Ratio of 1.88. The chart below compares the historical Sharpe Ratios of QCLN.L and PMLP.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.

Drawdowns

QCLN.L vs. PMLP.L - Drawdown Comparison

The maximum QCLN.L drawdown since its inception was -69.87%, which is greater than PMLP.L's maximum drawdown of -31.86%. Use the drawdown chart below to compare losses from any high point for QCLN.L and PMLP.L.

Drawdown Indicators

	QCLN.L	PMLP.L	Difference
Max Drawdown Largest peak-to-trough decline	-69.87%	-31.86%	-38.01%
Max Drawdown (1Y) Largest decline over 1 year	-15.26%	-10.82%	-4.44%
Max Drawdown (3Y) Largest decline over 3 years	-56.66%	-20.50%	-36.16%
Max Drawdown (5Y) Largest decline over 5 years	-68.64%	-20.50%	-48.14%
Current Drawdown Current decline from peak	-27.89%	-2.08%	-25.81%
Average Drawdown Average peak-to-trough decline	-27.57%	-7.27%	-20.30%
Ulcer Index Depth and duration of drawdowns from previous peaks	5.13%	3.90%	+1.23%

Volatility

QCLN.L vs. PMLP.L - Volatility Comparison

First Trust Nasdaq Clean Edge Green Energy UCITS ETF Acc (QCLN.L) has a higher volatility of 12.96% compared to HANetf Alerian Midstream Energy Dividend UCITS ETF (PMLP.L) at 6.69%. This indicates that QCLN.L's price experiences larger fluctuations and is considered to be riskier than PMLP.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	QCLN.L	PMLP.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	12.96%	6.69%	+6.27%
Volatility (6M) Calculated over the trailing 6-month period	26.33%	15.83%	+10.50%
Volatility (1Y) Calculated over the trailing 1-year period	35.47%	19.17%	+16.30%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	38.19%	19.67%	+18.52%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	2,366.92%	23.20%	+2,343.72%

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

QCLN.L has a 0.60% expense ratio, which is higher than PMLP.L's 0.40% expense ratio.

Dividends

QCLN.L vs. PMLP.L - Dividend Comparison

QCLN.L has not paid dividends to shareholders, while PMLP.L's dividend yield for the trailing twelve months is around 2.80%.

Position	TTM	2025	2024	2023	2022	2021	2020
PMLP.L HANetf Alerian Midstream Energy Dividend UCITS ETF	2.80%	3.31%	3.37%	6.48%	6.12%	6.58%	4.17%
QCLN.L First Trust Nasdaq Clean Edge Green Energy UCITS ETF Acc	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

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

QCLN.L and PMLP.L have a correlation of -0.12, 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 PMLP.L?

On fees, PMLP.L is cheaper at 0.40% per year. The better choice depends on whether you care most about return, fees, risk, or income.

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

PMLP.L is cheaper with a 0.40% expense ratio, compared with 0.60% for QCLN.L.

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

QCLN.L tracks S&P Global Clean Energy TR USD, while PMLP.L tracks MSCI World/Energy NR USD. They also come from different issuers: First Trust and HANetf. Their fees differ too: 0.60% for QCLN.L and 0.40% for PMLP.L.