RAYS.L vs. RNRU.L
RAYS.L (Invesco Solar Energy UCITS ETF Acc) and RNRU.L (Global X Renewable Energy Producers UCITS ETF USD Accumulating) are both Energy Equities funds tracking the S&P Global Clean Energy TR USD, from Invesco and Global X respectively. Both are passively managed. Over the past 3 years, RAYS.L returned -3.85%/yr vs 2.64%/yr for RNRU.L. A 0.66 correlation means they provide meaningful diversification when combined. RAYS.L charges 0.69%/yr vs 0.50%/yr for RNRU.L.
Performance
RAYS.L vs. RNRU.L - Performance Comparison
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Different Trading Currencies
RAYS.L is traded in GBp, while RNRU.L is traded in GBP. To make them comparable, the RNRU.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 RNRU.L's 19.04% return.
RAYS.L
- 1D
- -1.94%
- 1M
- 15.83%
- YTD
- 39.17%
- 6M
- 42.81%
- 1Y
- 107.94%
- 3Y*
- -3.85%
- 5Y*
- —
- 10Y*
- —
RNRU.L
- 1D
- -2.01%
- 1M
- -0.63%
- YTD
- 19.04%
- 6M
- 18.21%
- 1Y
- 49.83%
- 3Y*
- 2.64%
- 5Y*
- —
- 10Y*
- —
RAYS.L vs. RNRU.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
RAYS.L Invesco Solar Energy UCITS ETF Acc | 39.17% | 36.36% | -36.34% | -29.61% | 5.10% | -12.93% |
RNRU.L Global X Renewable Energy Producers UCITS ETF USD Accumulating | 19.04% | 24.83% | -21.90% | -19.50% | -0.25% | -2.90% |
Correlation
The correlation between RAYS.L and RNRU.L is 0.58, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.58 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.65 |
Correlation (All Time) Calculated using the full available price history since Dec 10, 2021 | 0.66 |
The correlation between RAYS.L and RNRU.L has been stable across timeframes, ranging from 0.58 to 0.66 - a consistent structural relationship.
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Return for Risk
RAYS.L vs. RNRU.L — Risk / Return Rank
RAYS.L
RNRU.L
RAYS.L vs. RNRU.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 Global X Renewable Energy Producers UCITS ETF USD Accumulating (RNRU.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 | RNRU.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.13 | ||
| Sortino ratioReturn per unit of downside risk | -0.25 | ||
| Omega ratioGain probability vs. loss probability | 1.47 | 1.52 | -0.05 |
| Calmar ratioReturn relative to maximum drawdown | 9.02 | 8.92 | +0.10 |
| Martin ratioReturn relative to average drawdown | 21.84 | 29.05 | -7.21 |
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 | RNRU.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 3.27 | 3.13 | +0.13 |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.11 | -0.12 | +0.01 |
Drawdowns
RAYS.L vs. RNRU.L - Drawdown Comparison
The maximum RAYS.L drawdown since its inception was -73.42%, which is greater than RNRU.L's maximum drawdown of -53.53%. Use the drawdown chart below to compare losses from any high point for RAYS.L and RNRU.L.
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Drawdown Indicators
| RAYS.L | RNRU.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -73.42% | -53.53% | -19.89% |
Max Drawdown (1Y)Largest decline over 1 year | -11.90% | -5.56% | -6.34% |
Max Drawdown (3Y)Largest decline over 3 years | -64.74% | -37.25% | -27.49% |
Current DrawdownCurrent decline from peak | -32.84% | -20.48% | -12.36% |
Average DrawdownAverage peak-to-trough decline | -41.69% | -29.04% | -12.65% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.93% | 1.71% | +3.22% |
Volatility
RAYS.L vs. RNRU.L - Volatility Comparison
Invesco Solar Energy UCITS ETF Acc (RAYS.L) has a higher volatility of 12.48% compared to Global X Renewable Energy Producers UCITS ETF USD Accumulating (RNRU.L) at 5.73%. This indicates that RAYS.L's price experiences larger fluctuations and is considered to be riskier than RNRU.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 | RNRU.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 12.48% | 5.73% | +6.75% |
Volatility (6M)Calculated over the trailing 6-month period | 21.95% | 11.94% | +10.01% |
Volatility (1Y)Calculated over the trailing 1-year period | 32.89% | 15.86% | +17.03% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 36.87% | 18.35% | +18.52% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 36.87% | 18.35% | +18.52% |
RAYS.L vs. RNRU.L - Expense Ratio Comparison
RAYS.L has a 0.69% expense ratio, which is higher than RNRU.L's 0.50% expense ratio.
Dividends
RAYS.L vs. RNRU.L - Dividend Comparison
Neither RAYS.L nor RNRU.L has paid dividends to shareholders.
Frequently Asked Questions
RAYS.L and RNRU.L have a correlation of 0.58, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, RNRU.L is cheaper at 0.50% per year. The better choice depends on whether you care most about return, fees, risk, or income.
RNRU.L is cheaper with a 0.50% expense ratio, compared with 0.69% for RAYS.L.
Both ETFs track S&P Global Clean Energy TR USD. They also come from different issuers: Invesco and Global X. Their fees differ too: 0.69% for RAYS.L and 0.50% for RNRU.L.
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