QCLN vs. TAN

Last updated Apr 2, 2026

Compare and contrast key facts about First Trust NASDAQ Clean Edge Green Energy Index Fund (QCLN) and Invesco Solar ETF (TAN).

QCLN and TAN are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. QCLN is a passively managed fund by First Trust that tracks the performance of the NASDAQ Clean Edge Green Energy. It was launched on Feb 8, 2007. TAN is a passively managed fund by Invesco that tracks the performance of the MAC Global Solar Energy Index. It was launched on Apr 15, 2008. Both QCLN and TAN are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.

Performance

QCLN vs. TAN - 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 Invesco Solar ETF (TAN). The values are adjusted to include any dividend payments, if applicable.

QCLN vs. TAN - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
QCLN First Trust NASDAQ Clean Edge Green Energy Index Fund	5.17%	31.81%	-18.86%	-10.02%	-30.37%	-3.21%	184.00%	42.65%	-12.38%	32.34%
TAN Invesco Solar ETF	14.56%	48.31%	-37.61%	-26.79%	-5.24%	-25.10%	233.96%	66.53%	-25.67%	54.38%

Returns By Period

In the year-to-date period, QCLN achieves a 5.17% return, which is significantly lower than TAN's 14.56% return. Over the past 10 years, QCLN has outperformed TAN with an annualized return of 12.87%, while TAN has yielded a comparatively lower 10.44% annualized return.

QCLN

• 1D: 0.90%
• 1M: -4.61%
• YTD: 5.17%
• 6M: 8.63%
• 1Y: 61.08%
• 3Y*: -2.97%
• 5Y*: -7.09%
• 10Y*: 12.87%

TAN

• 1D: 1.01%
• 1M: -0.16%
• YTD: 14.56%
• 6M: 24.82%
• 1Y: 82.69%
• 3Y*: -10.00%
• 5Y*: -9.00%
• 10Y*: 10.44%

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

QCLN vs. TAN - Expense Ratio Comparison

QCLN has a 0.60% expense ratio, which is lower than TAN's 0.69% expense ratio.

TAN

Invesco Solar ETF

QCLN

First Trust NASDAQ Clean Edge Green Energy Index Fund

Return for Risk

QCLN vs. TAN — Risk / Return Rank

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

QCLN

QCLN Risk / Return Rank: 84
QCLN Sharpe Ratio Rank: 82
QCLN Sortino Ratio Rank: 82
QCLN Omega Ratio Rank: 71
QCLN Calmar Ratio Rank: 94
QCLN Martin Ratio Rank: 90

TAN

TAN Risk / Return Rank: 91
TAN Sharpe Ratio Rank: 91
TAN Sortino Ratio Rank: 91
TAN Omega Ratio Rank: 82
TAN Calmar Ratio Rank: 97
TAN Martin Ratio Rank: 93

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. TAN - 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 Invesco Solar ETF (TAN). 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	TAN	Difference
Sharpe ratio Return per unit of total volatility	1.63	2.10	-0.48
Sortino ratio Return per unit of downside risk	2.23	2.68	-0.45
Omega ratio Gain probability vs. loss probability	1.27	1.33	-0.06
Calmar ratio Return relative to maximum drawdown	3.97	5.21	-1.24
Martin ratio Return relative to average drawdown	12.27	13.78	-1.51
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 vs. TAN - Sharpe Ratio Comparison

The current QCLN Sharpe Ratio is 1.63, which is comparable to the TAN Sharpe Ratio of 2.10. The chart below compares the historical Sharpe Ratios of QCLN and TAN, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	QCLN	TAN	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.63	2.10	-0.48
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.19	-0.23	+0.04
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.37	0.28	+0.10
Sharpe Ratio (All Time) Calculated using the full available price history	0.15	-0.15	+0.29

Correlation

The correlation between QCLN and TAN is 0.83, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.

Dividends

QCLN vs. TAN - Dividend Comparison

QCLN's dividend yield for the trailing twelve months is around 0.21%, while TAN has not paid dividends to shareholders.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
QCLN First Trust NASDAQ Clean Edge Green Energy Index Fund	0.21%	0.25%	0.87%	0.76%	0.33%	0.01%	0.30%	0.85%	1.03%	0.45%	1.24%	0.72%
TAN Invesco Solar ETF	0.00%	0.00%	0.50%	0.09%	0.00%	0.00%	0.09%	0.30%	0.69%	1.77%	5.04%	1.60%

Drawdowns

QCLN vs. TAN - Drawdown Comparison

The maximum QCLN drawdown since its inception was -76.18%, smaller than the maximum TAN drawdown of -95.29%. Use the drawdown chart below to compare losses from any high point for QCLN and TAN.

Drawdown Indicators

	QCLN	TAN	Difference
Max Drawdown Largest peak-to-trough decline	-76.18%	-95.29%	+19.11%
Max Drawdown (1Y) Largest decline over 1 year	-16.18%	-16.25%	+0.07%
Max Drawdown (5Y) Largest decline over 5 years	-69.49%	-73.95%	+4.46%
Max Drawdown (10Y) Largest decline over 10 years	-71.73%	-78.53%	+6.80%
Current Drawdown Current decline from peak	-45.67%	-74.16%	+28.49%
Average Drawdown Average peak-to-trough decline	-43.54%	-78.57%	+35.03%
Ulcer Index Depth and duration of drawdowns from previous peaks	5.24%	6.15%	-0.91%

Volatility

QCLN vs. TAN - Volatility Comparison

First Trust NASDAQ Clean Edge Green Energy Index Fund (QCLN) has a higher volatility of 13.73% compared to Invesco Solar ETF (TAN) at 10.07%. This indicates that QCLN's price experiences larger fluctuations and is considered to be riskier than TAN based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	QCLN	TAN	Difference
Volatility (1M) Calculated over the trailing 1-month period	13.73%	10.07%	+3.66%
Volatility (6M) Calculated over the trailing 6-month period	27.33%	26.24%	+1.09%
Volatility (1Y) Calculated over the trailing 1-year period	37.76%	39.51%	-1.75%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	37.87%	39.82%	-1.95%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	34.62%	37.78%	-3.16%