QCLN.L vs. RAYS.L
QCLN.L (First Trust Nasdaq Clean Edge Green Energy UCITS ETF Acc) and RAYS.L (Invesco Solar 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 3 years, QCLN.L returned 8.19%/yr vs -3.85%/yr for RAYS.L. A 0.78 correlation means they provide meaningful diversification when combined. QCLN.L charges 0.60%/yr vs 0.69%/yr for RAYS.L.
Performance
QCLN.L vs. RAYS.L - Performance Comparison
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Returns By Period
In the year-to-date period, QCLN.L achieves a 50.74% return, which is significantly higher than RAYS.L's 39.17% 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*
- —
RAYS.L
- 1D
- -1.94%
- 1M
- 15.83%
- YTD
- 39.17%
- 6M
- 42.81%
- 1Y
- 107.94%
- 3Y*
- -3.85%
- 5Y*
- —
- 10Y*
- —
QCLN.L vs. RAYS.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% | 3.64% |
RAYS.L Invesco Solar Energy UCITS ETF Acc | 39.17% | 36.36% | -36.34% | -29.61% | 5.10% | -6.84% |
Correlation
The correlation between QCLN.L and RAYS.L is 0.72, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.72 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.78 |
Correlation (All Time) Calculated using the full available price history since Aug 13, 2021 | 0.78 |
The correlation between QCLN.L and RAYS.L has been stable across timeframes, ranging from 0.72 to 0.78 - a consistent structural relationship.
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Return for Risk
QCLN.L vs. RAYS.L — Risk / Return Rank
QCLN.L
RAYS.L
QCLN.L vs. RAYS.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 Solar Energy UCITS ETF Acc (RAYS.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 | RAYS.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.17 | ||
| Sortino ratioReturn per unit of downside risk | +0.11 | ||
| Omega ratioGain probability vs. loss probability | 1.47 | 1.47 | 0.00 |
| Calmar ratioReturn relative to maximum drawdown | 7.96 | 9.02 | -1.06 |
| Martin ratioReturn relative to average drawdown | 25.08 | 21.84 | +3.24 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| QCLN.L | RAYS.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 3.44 | 3.27 | +0.17 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.07 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.10 | -0.11 | +0.01 |
Drawdowns
QCLN.L vs. RAYS.L - Drawdown Comparison
The maximum QCLN.L drawdown since its inception was -69.87%, roughly equal to the maximum RAYS.L drawdown of -73.42%. Use the drawdown chart below to compare losses from any high point for QCLN.L and RAYS.L.
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Drawdown Indicators
| QCLN.L | RAYS.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -69.87% | -73.42% | +3.55% |
Max Drawdown (1Y)Largest decline over 1 year | -14.69% | -11.90% | -2.79% |
Max Drawdown (3Y)Largest decline over 3 years | -56.66% | -64.74% | +8.08% |
Max Drawdown (5Y)Largest decline over 5 years | -68.64% | — | — |
Current DrawdownCurrent decline from peak | -21.08% | -32.84% | +11.76% |
Average DrawdownAverage peak-to-trough decline | -40.89% | -41.69% | +0.80% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.67% | 4.93% | -0.26% |
Volatility
QCLN.L vs. RAYS.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 Solar Energy UCITS ETF Acc (RAYS.L) at 12.48%. This indicates that QCLN.L's price experiences larger fluctuations and is considered to be riskier than RAYS.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| QCLN.L | RAYS.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 14.86% | 12.48% | +2.38% |
Volatility (6M)Calculated over the trailing 6-month period | 24.36% | 21.95% | +2.41% |
Volatility (1Y)Calculated over the trailing 1-year period | 34.07% | 32.89% | +1.18% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 35.87% | 36.87% | -1.00% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 36.95% | 36.87% | +0.08% |
QCLN.L vs. RAYS.L - Expense Ratio Comparison
QCLN.L has a 0.60% expense ratio, which is lower than RAYS.L's 0.69% expense ratio.
Dividends
QCLN.L vs. RAYS.L - Dividend Comparison
Neither QCLN.L nor RAYS.L has paid dividends to shareholders.
Frequently Asked Questions
QCLN.L and RAYS.L have a correlation of 0.72, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, QCLN.L is cheaper at 0.60% per year. The better choice depends on whether you care most about return, fees, risk, or income.
QCLN.L is cheaper with a 0.60% expense ratio, compared with 0.69% for RAYS.L.
Both ETFs track S&P Global Clean Energy TR USD. They also come from different issuers: First Trust and Invesco. Their fees differ too: 0.60% for QCLN.L and 0.69% for RAYS.L.
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