RAYG.L vs. IUES.L
RAYG.L (Global X Solar UCITS ETF USD Accumulating) and IUES.L (iShares S&P 500 Energy Sector UCITS ETF USD (Acc)) are both Energy Equities funds - RAYG.L tracks the S&P Global Clean Energy TR USD while IUES.L tracks the MSCI World/Energy NR USD. Both are passively managed. Over the past 3 years, RAYG.L returned -4.78%/yr vs 14.03%/yr for IUES.L. At a 0.13 correlation, their price movements are largely independent. RAYG.L charges 0.50%/yr vs 0.15%/yr for IUES.L.
Performance
RAYG.L vs. IUES.L - Performance Comparison
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Different Trading Currencies
RAYG.L is traded in GBP, while IUES.L is traded in USD. To make them comparable, the IUES.L values have been converted to GBP using the latest available exchange rates.
Returns By Period
In the year-to-date period, RAYG.L achieves a 21.50% return, which is significantly lower than IUES.L's 31.41% return.
RAYG.L
- 1D
- -2.44%
- 1M
- 4.77%
- YTD
- 21.50%
- 6M
- 25.77%
- 1Y
- 84.67%
- 3Y*
- -4.78%
- 5Y*
- —
- 10Y*
- —
IUES.L
- 1D
- 0.00%
- 1M
- 0.15%
- YTD
- 31.41%
- 6M
- 28.75%
- 1Y
- 48.19%
- 3Y*
- 14.03%
- 5Y*
- 21.71%
- 10Y*
- 10.07%
RAYG.L vs. IUES.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
RAYG.L Global X Solar UCITS ETF USD Accumulating | 21.50% | 30.23% | -27.04% | -36.40% | 16.05% |
IUES.L iShares S&P 500 Energy Sector UCITS ETF USD (Acc) | 30.98% | 1.99% | 5.69% | -5.60% | 48.14% |
Correlation
The correlation between RAYG.L and IUES.L is -0.08, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.08 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.11 |
Correlation (All Time) Calculated using the full available price history since Feb 18, 2022 | 0.13 |
The correlation between RAYG.L and IUES.L shifts across timeframes, from -0.08 (1 year) to 0.13 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
RAYG.L vs. IUES.L — Risk / Return Rank
RAYG.L
IUES.L
RAYG.L vs. IUES.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Global X Solar UCITS ETF USD Accumulating (RAYG.L) and iShares S&P 500 Energy Sector UCITS ETF USD (Acc) (IUES.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.
| RAYG.L | IUES.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.61 | ||
| Sortino ratioReturn per unit of downside risk | +0.87 | ||
| Omega ratioGain probability vs. loss probability | 1.41 | 1.36 | +0.06 |
| Calmar ratioReturn relative to maximum drawdown | 5.82 | 2.89 | +2.92 |
| Martin ratioReturn relative to average drawdown | 14.72 | 8.95 | +5.78 |
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
| RAYG.L | IUES.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.69 | 2.08 | +0.61 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | 0.81 | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.36 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.11 | 0.36 | -0.47 |
Drawdowns
RAYG.L vs. IUES.L - Drawdown Comparison
The maximum RAYG.L drawdown since its inception was -71.14%, which is greater than IUES.L's maximum drawdown of -62.40%. Use the drawdown chart below to compare losses from any high point for RAYG.L and IUES.L.
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Drawdown Indicators
| RAYG.L | IUES.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -71.14% | -62.40% | -8.74% |
Max Drawdown (1Y)Largest decline over 1 year | -14.48% | -16.59% | +2.11% |
Max Drawdown (3Y)Largest decline over 3 years | -58.12% | -23.92% | -34.20% |
Max Drawdown (5Y)Largest decline over 5 years | — | -23.92% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -62.40% | — |
Current DrawdownCurrent decline from peak | -42.21% | -8.77% | -33.44% |
Average DrawdownAverage peak-to-trough decline | -42.80% | -16.00% | -26.80% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 5.73% | 5.37% | +0.36% |
Volatility
RAYG.L vs. IUES.L - Volatility Comparison
Global X Solar UCITS ETF USD Accumulating (RAYG.L) and iShares S&P 500 Energy Sector UCITS ETF USD (Acc) (IUES.L) have volatilities of 8.58% and 8.73%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| RAYG.L | IUES.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 8.58% | 8.73% | -0.15% |
Volatility (6M)Calculated over the trailing 6-month period | 21.55% | 19.54% | +2.01% |
Volatility (1Y)Calculated over the trailing 1-year period | 31.33% | 23.12% | +8.21% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 32.59% | 26.63% | +5.96% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 32.59% | 28.23% | +4.36% |
RAYG.L vs. IUES.L - Expense Ratio Comparison
RAYG.L has a 0.50% expense ratio, which is higher than IUES.L's 0.15% expense ratio.
Dividends
RAYG.L vs. IUES.L - Dividend Comparison
Neither RAYG.L nor IUES.L has paid dividends to shareholders.
Frequently Asked Questions
RAYG.L and IUES.L have a correlation of -0.08, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, IUES.L is cheaper at 0.15% per year. The better choice depends on whether you care most about return, fees, risk, or income.
IUES.L is cheaper with a 0.15% expense ratio, compared with 0.50% for RAYG.L.
RAYG.L tracks S&P Global Clean Energy TR USD, while IUES.L tracks MSCI World/Energy NR USD. They also come from different issuers: Global X and iShares. Their fees differ too: 0.50% for RAYG.L and 0.15% for IUES.L.
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