RAYG.L vs. MLPQ.L
RAYG.L (Global X Solar UCITS ETF USD Accumulating) and MLPQ.L (Invesco Morningstar US Energy Infrastructure MLP UCITS ETF) are both Energy Equities funds - RAYG.L tracks the S&P Global Clean Energy TR USD while MLPQ.L tracks the MSCI World/Energy NR USD. Both are passively managed. Over the past 3 years, RAYG.L returned -4.78%/yr vs 15.76%/yr for MLPQ.L. At a 0.15 correlation, their price movements are largely independent. Both charge a 0.50% expense ratio.
Performance
RAYG.L vs. MLPQ.L - Performance Comparison
Loading charts...
Different Trading Currencies
RAYG.L is traded in GBP, while MLPQ.L is traded in GBp. To make them comparable, the MLPQ.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 higher than MLPQ.L's 18.94% return.
RAYG.L
- 1D
- -2.44%
- 1M
- 4.77%
- YTD
- 21.50%
- 6M
- 25.77%
- 1Y
- 84.67%
- 3Y*
- -4.78%
- 5Y*
- —
- 10Y*
- —
MLPQ.L
- 1D
- -0.55%
- 1M
- 0.83%
- YTD
- 18.94%
- 6M
- 13.87%
- 1Y
- 16.79%
- 3Y*
- 15.76%
- 5Y*
- 18.54%
- 10Y*
- 7.75%
RAYG.L vs. MLPQ.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% |
MLPQ.L Invesco Morningstar US Energy Infrastructure MLP UCITS ETF | 18.94% | -4.55% | 24.63% | 12.94% | 29.52% |
Correlation
The correlation between RAYG.L and MLPQ.L is -0.11, 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 | -0.11 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.10 |
Correlation (All Time) Calculated using the full available price history since Feb 18, 2022 | 0.15 |
The correlation between RAYG.L and MLPQ.L shifts across timeframes, from -0.11 (1 year) to 0.15 (all time), reflecting how their relationship changes across market environments.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
RAYG.L vs. MLPQ.L — Risk / Return Rank
RAYG.L
MLPQ.L
RAYG.L vs. MLPQ.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 Invesco Morningstar US Energy Infrastructure MLP UCITS ETF (MLPQ.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 | MLPQ.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.65 | ||
| Sortino ratioReturn per unit of downside risk | +1.99 | ||
| Omega ratioGain probability vs. loss probability | 1.41 | 1.18 | +0.23 |
| Calmar ratioReturn relative to maximum drawdown | 5.82 | 1.84 | +3.97 |
| Martin ratioReturn relative to average drawdown | 14.72 | 4.31 | +10.41 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
Loading charts...
Sharpe Ratios by Period
| RAYG.L | MLPQ.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.69 | 1.04 | +1.65 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | 0.94 | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.28 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.11 | 0.19 | -0.30 |
Drawdowns
RAYG.L vs. MLPQ.L - Drawdown Comparison
The maximum RAYG.L drawdown since its inception was -71.14%, smaller than the maximum MLPQ.L drawdown of -75.62%. Use the drawdown chart below to compare losses from any high point for RAYG.L and MLPQ.L.
Loading charts...
Drawdown Indicators
| RAYG.L | MLPQ.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -71.14% | -75.62% | +4.48% |
Max Drawdown (1Y)Largest decline over 1 year | -14.48% | -9.07% | -5.41% |
Max Drawdown (3Y)Largest decline over 3 years | -58.12% | -19.04% | -39.08% |
Max Drawdown (5Y)Largest decline over 5 years | — | -19.04% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -74.07% | — |
Current DrawdownCurrent decline from peak | -42.21% | -3.53% | -38.68% |
Average DrawdownAverage peak-to-trough decline | -42.80% | -20.03% | -22.77% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 5.73% | 3.89% | +1.84% |
Volatility
RAYG.L vs. MLPQ.L - Volatility Comparison
Global X Solar UCITS ETF USD Accumulating (RAYG.L) has a higher volatility of 8.58% compared to Invesco Morningstar US Energy Infrastructure MLP UCITS ETF (MLPQ.L) at 6.19%. This indicates that RAYG.L's price experiences larger fluctuations and is considered to be riskier than MLPQ.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| RAYG.L | MLPQ.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 8.58% | 6.19% | +2.39% |
Volatility (6M)Calculated over the trailing 6-month period | 21.55% | 12.70% | +8.85% |
Volatility (1Y)Calculated over the trailing 1-year period | 31.33% | 16.11% | +15.22% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 32.59% | 19.75% | +12.84% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 32.59% | 27.79% | +4.80% |
RAYG.L vs. MLPQ.L - Expense Ratio Comparison
Both RAYG.L and MLPQ.L have an expense ratio of 0.50%.
Dividends
RAYG.L vs. MLPQ.L - Dividend Comparison
Neither RAYG.L nor MLPQ.L has paid dividends to shareholders.
Frequently Asked Questions
RAYG.L and MLPQ.L have a correlation of -0.11, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
Both ETFs have the same 0.50% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.
RAYG.L and MLPQ.L have the same expense ratio: 0.50% per year.
RAYG.L tracks S&P Global Clean Energy TR USD, while MLPQ.L tracks MSCI World/Energy NR USD. They also come from different issuers: Global X and Invesco.
Find the right allocation for RAYG.L and MLPQ.L
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer