QCLN vs. CTEX

Last updated Jun 25, 2026

QCLN (First Trust NASDAQ Clean Edge Green Energy Index Fund) and CTEX (ProShares S&P Kensho Cleantech ETF) are both Alternative Energy Equities funds - QCLN tracks the Nasdaq Clean Edge Green Energy Index while CTEX tracks the S&P Kensho Cleantech Index. Both are passively managed. Over the past 3 years, QCLN returned 8.46%/yr vs 10.60%/yr for CTEX. Their correlation of 0.91 suggests significant overlap in exposure. QCLN charges 0.59%/yr vs 0.58%/yr for CTEX.

Performance

QCLN vs. CTEX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in First Trust NASDAQ Clean Edge Green Energy Index Fund (QCLN) and ProShares S&P Kensho Cleantech ETF (CTEX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, QCLN achieves a 35.74% return, which is significantly higher than CTEX's 19.24% return.

QCLN

• 1D: -1.06%
• 1M: -4.54%
• YTD: 35.74%
• 6M: 29.75%
• 1Y: 86.43%
• 3Y*: 8.46%
• 5Y*: -1.46%
• 10Y*: 16.66%

CTEX

• 1D: -1.27%
• 1M: -9.19%
• YTD: 19.24%
• 6M: 13.80%
• 1Y: 108.54%
• 3Y*: 10.60%
• 5Y*: —
• 10Y*: —

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

QCLN vs. CTEX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
QCLN First Trust NASDAQ Clean Edge Green Energy Index Fund	35.74%	31.81%	-18.86%	-10.02%	-30.37%	9.21%
CTEX ProShares S&P Kensho Cleantech ETF	19.24%	67.74%	-20.38%	-10.25%	-20.38%	-6.68%

Correlation

The correlation between QCLN and CTEX is 0.88, 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	0.88
Correlation (3Y) Calculated over the trailing 3-year period	0.90
Correlation (All Time) Calculated using the full available price history since Sep 30, 2021	0.91

The correlation between QCLN and CTEX has been stable across timeframes, ranging from 0.88 to 0.91 - a consistent structural relationship.

QCLN vs. CTEX - Sectors Allocation Comparison

Sectors	QCLN	CTEX
Technology	47.6%	6.1%
Industrials	24.8%	38.2%
Consumer Cyclical	10.2%	2.6%
Utilities	8.1%	16.5%
Basic Materials	7.8%	-
Financial Services	1.4%	-
Energy	0.1%	36.3%
Communication Services	-	-
Consumer Defensive	-	-
Healthcare	-	-
Real Estate	-	-

Return for Risk

QCLN vs. CTEX — Risk / Return Rank

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

QCLN

QCLN Risk / Return Rank: 79
QCLN Sharpe Ratio Rank: 81
QCLN Sortino Ratio Rank: 68
QCLN Omega Ratio Rank: 65
QCLN Calmar Ratio Rank: 91
QCLN Martin Ratio Rank: 87

CTEX

CTEX Risk / Return Rank: 78
CTEX Sharpe Ratio Rank: 86
CTEX Sortino Ratio Rank: 71
CTEX Omega Ratio Rank: 69
CTEX Calmar Ratio Rank: 90
CTEX Martin Ratio Rank: 75

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 vs. CTEX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for First Trust NASDAQ Clean Edge Green Energy Index Fund (QCLN) and ProShares S&P Kensho Cleantech ETF (CTEX). 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	CTEX	Difference
Sharpe ratio: Return per unit of total volatility	2.32	2.47	-0.15
Sortino ratio: Return per unit of downside risk	2.77	2.85	-0.07
Omega ratio: Gain probability vs. loss probability	1.35	1.36	-0.01
Calmar ratio: Return relative to maximum drawdown	5.30	4.98	+0.32
Martin ratio: Return relative to average drawdown	16.86	12.65	+4.21

QCLN vs. CTEX - Sharpe Ratio Comparison

The current QCLN Sharpe Ratio is 2.32, which is comparable to the CTEX Sharpe Ratio of 2.47. The chart below compares the historical Sharpe Ratios of QCLN and CTEX, 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 vs. CTEX - Drawdown Comparison

The maximum QCLN drawdown since its inception was -76.18%, which is greater than CTEX's maximum drawdown of -70.31%. Use the drawdown chart below to compare losses from any high point for QCLN and CTEX.

Drawdown Indicators

	QCLN	CTEX	Difference
Max Drawdown Largest peak-to-trough decline	-76.18%	-70.31%	-5.87%
Max Drawdown (1Y) Largest decline over 1 year	-16.40%	-21.90%	+5.50%
Max Drawdown (3Y) Largest decline over 3 years	-56.08%	-56.83%	+0.75%
Max Drawdown (5Y) Largest decline over 5 years	-69.49%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-71.73%	—	—
Current Drawdown Current decline from peak	-29.88%	-18.28%	-11.60%
Average Drawdown Average peak-to-trough decline	-43.39%	-41.59%	-1.80%
Ulcer Index Depth and duration of drawdowns from previous peaks	5.14%	8.61%	-3.47%

Volatility

QCLN vs. CTEX - Volatility Comparison

The current volatility for First Trust NASDAQ Clean Edge Green Energy Index Fund (QCLN) is 17.65%, while ProShares S&P Kensho Cleantech ETF (CTEX) has a volatility of 19.20%. This indicates that QCLN experiences smaller price fluctuations and is considered to be less risky than CTEX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	QCLN	CTEX	Difference
Volatility (1M) Calculated over the trailing 1-month period	17.65%	19.20%	-1.55%
Volatility (6M) Calculated over the trailing 6-month period	29.87%	32.48%	-2.61%
Volatility (1Y) Calculated over the trailing 1-year period	37.47%	44.20%	-6.73%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	38.54%	43.58%	-5.04%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	35.21%	43.58%	-8.37%

QCLN vs. CTEX - Expense Ratio Comparison

QCLN has a 0.59% expense ratio, which is higher than CTEX's 0.58% expense ratio.

Dividends

QCLN vs. CTEX - Dividend Comparison

QCLN's dividend yield for the trailing twelve months is around 0.17%, less than CTEX's 1.75% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
CTEX ProShares S&P Kensho Cleantech ETF	1.75%	2.17%	0.57%	0.12%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
QCLN First Trust NASDAQ Clean Edge Green Energy Index Fund	0.17%	0.25%	0.87%	0.76%	0.33%	0.01%	0.30%	0.85%	1.03%	0.45%	1.24%	0.72%

Frequently Asked Questions

Can I hold both QCLN and CTEX in my portfolio?

QCLN and CTEX have a correlation of 0.88, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, QCLN or CTEX?

CTEX has higher volatility (19.20%) compared to QCLN (17.65%). In terms of maximum drawdown, QCLN dropped -76.18% vs CTEX's -70.31%.

Which ETF is better, QCLN or CTEX?

On 3-year performance, CTEX leads with 10.60% vs 8.46% for QCLN. On fees, CTEX is cheaper at 0.58% per year. On volatility, QCLN has been the lower-risk option at 17.65%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, QCLN or CTEX?

Over the 3-year period, CTEX has performed better with a 10.60% return vs 8.46%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, QCLN or CTEX?

CTEX is cheaper with a 0.58% expense ratio, compared with 0.59% for QCLN.

Which ETF pays a higher dividend yield, QCLN or CTEX?

CTEX has the higher dividend yield at 1.75%, compared with 0.17% for QCLN.

What is the main difference between QCLN and CTEX?

QCLN tracks Nasdaq Clean Edge Green Energy Index, while CTEX tracks S&P Kensho Cleantech Index. They also come from different issuers: First Trust and ProShares. Their fees differ too: 0.59% for QCLN and 0.58% for CTEX.

Which has better risk-adjusted returns?

CTEX currently has the higher Sharpe Ratio (2.47 vs 2.32), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.