RAYS.L vs. EYED.L
RAYS.L (Invesco Solar Energy UCITS ETF Acc) and EYED.L (iShares MSCI Europe Energy Sector UCITS ETF EUR (Dist)) are both Energy Equities funds - RAYS.L tracks the S&P Global Clean Energy TR USD while EYED.L tracks the MSCI World/Energy NR USD. Both are passively managed. Over the past 3 years, RAYS.L returned -3.85%/yr vs 17.65%/yr for EYED.L. At a 0.18 correlation, their price movements are largely independent. RAYS.L charges 0.69%/yr vs 0.18%/yr for EYED.L.
Performance
RAYS.L vs. EYED.L - Performance Comparison
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Different Trading Currencies
RAYS.L is traded in GBp, while EYED.L is traded in GBP. To make them comparable, the EYED.L values have been converted to GBp using the latest available exchange rates.
Returns By Period
In the year-to-date period, RAYS.L achieves a 39.17% return, which is significantly higher than EYED.L's 34.28% return.
RAYS.L
- 1D
- -1.94%
- 1M
- 15.83%
- YTD
- 39.17%
- 6M
- 42.81%
- 1Y
- 107.94%
- 3Y*
- -3.85%
- 5Y*
- —
- 10Y*
- —
EYED.L
- 1D
- -1.18%
- 1M
- -2.75%
- YTD
- 34.28%
- 6M
- 30.34%
- 1Y
- 58.34%
- 3Y*
- 17.65%
- 5Y*
- —
- 10Y*
- —
RAYS.L vs. EYED.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
RAYS.L Invesco Solar Energy UCITS ETF Acc | 39.17% | 36.36% | -36.34% | -29.61% | -7.01% |
EYED.L iShares MSCI Europe Energy Sector UCITS ETF EUR (Dist) | 34.28% | 20.20% | -10.02% | 5.93% | 5.36% |
Correlation
The correlation between RAYS.L and EYED.L is -0.10, 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 | -0.10 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.16 |
Correlation (All Time) Calculated using the full available price history since Oct 10, 2022 | 0.18 |
The correlation between RAYS.L and EYED.L shifts across timeframes, from -0.10 (1 year) to 0.18 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
RAYS.L vs. EYED.L — Risk / Return Rank
RAYS.L
EYED.L
RAYS.L vs. EYED.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco Solar Energy UCITS ETF Acc (RAYS.L) and iShares MSCI Europe Energy Sector UCITS ETF EUR (Dist) (EYED.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.
| RAYS.L | EYED.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.67 | ||
| Sortino ratioReturn per unit of downside risk | +0.83 | ||
| Omega ratioGain probability vs. loss probability | 1.47 | 1.45 | +0.02 |
| Calmar ratioReturn relative to maximum drawdown | 9.02 | 4.79 | +4.24 |
| Martin ratioReturn relative to average drawdown | 21.84 | 14.52 | +7.32 |
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
| RAYS.L | EYED.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 3.27 | 2.60 | +0.67 |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.11 | 0.67 | -0.78 |
Drawdowns
RAYS.L vs. EYED.L - Drawdown Comparison
The maximum RAYS.L drawdown since its inception was -73.42%, which is greater than EYED.L's maximum drawdown of -25.34%. Use the drawdown chart below to compare losses from any high point for RAYS.L and EYED.L.
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Drawdown Indicators
| RAYS.L | EYED.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -73.42% | -25.34% | -48.08% |
Max Drawdown (1Y)Largest decline over 1 year | -11.90% | -12.12% | +0.22% |
Max Drawdown (3Y)Largest decline over 3 years | -64.74% | -25.34% | -39.40% |
Current DrawdownCurrent decline from peak | -32.84% | -7.53% | -25.31% |
Average DrawdownAverage peak-to-trough decline | -41.69% | -8.26% | -33.43% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.93% | 4.01% | +0.92% |
Volatility
RAYS.L vs. EYED.L - Volatility Comparison
Invesco Solar Energy UCITS ETF Acc (RAYS.L) has a higher volatility of 12.48% compared to iShares MSCI Europe Energy Sector UCITS ETF EUR (Dist) (EYED.L) at 8.43%. This indicates that RAYS.L's price experiences larger fluctuations and is considered to be riskier than EYED.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| RAYS.L | EYED.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 12.48% | 8.43% | +4.05% |
Volatility (6M)Calculated over the trailing 6-month period | 21.95% | 18.97% | +2.98% |
Volatility (1Y)Calculated over the trailing 1-year period | 32.89% | 22.35% | +10.54% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 36.87% | 21.02% | +15.85% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 36.87% | 21.02% | +15.85% |
RAYS.L vs. EYED.L - Expense Ratio Comparison
RAYS.L has a 0.69% expense ratio, which is higher than EYED.L's 0.18% expense ratio.
Dividends
RAYS.L vs. EYED.L - Dividend Comparison
RAYS.L has not paid dividends to shareholders, while EYED.L's dividend yield for the trailing twelve months is around 3.87%.
| Position | TTM | 2025 | 2024 | 2023 |
|---|---|---|---|---|
EYED.L iShares MSCI Europe Energy Sector UCITS ETF EUR (Dist) | 3.87% | 5.09% | 5.79% | 5.09% |
RAYS.L Invesco Solar Energy UCITS ETF Acc | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
RAYS.L and EYED.L have a correlation of -0.10, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, EYED.L is cheaper at 0.18% per year. The better choice depends on whether you care most about return, fees, risk, or income.
EYED.L is cheaper with a 0.18% expense ratio, compared with 0.69% for RAYS.L.
RAYS.L tracks S&P Global Clean Energy TR USD, while EYED.L tracks MSCI World/Energy NR USD. They also come from different issuers: Invesco and iShares. Their fees differ too: 0.69% for RAYS.L and 0.18% for EYED.L.
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