RAYS vs. CTEX

Last updated Jun 24, 2026

RAYS (Global X Solar ETF) and CTEX (ProShares S&P Kensho Cleantech ETF) are both Alternative Energy Equities funds - RAYS tracks the Solactive Solar Index while CTEX tracks the S&P Kensho Cleantech Index. Both are passively managed. RAYS charges 0.50%/yr vs 0.58%/yr for CTEX.

Performance

RAYS vs. CTEX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Global X Solar ETF (RAYS) and ProShares S&P Kensho Cleantech ETF (CTEX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

RAYS

• 1D: 0.00%
• 1M: 0.00%
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

CTEX

• 1D: -6.36%
• 1M: -8.02%
• YTD: 20.77%
• 6M: 16.43%
• 1Y: 116.42%
• 3Y*: 11.07%
• 5Y*: —
• 10Y*: —

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

RAYS vs. CTEX - Yearly Performance Comparison

	2026 (YTD)
RAYS Global X Solar ETF	0.00%
CTEX ProShares S&P Kensho Cleantech ETF	12.73%

RAYS vs. CTEX - Sectors Allocation Comparison

Sectors	RAYS	CTEX
Technology	66.9%	6.1%
Industrials	21.4%	38.2%
Utilities	6.8%	16.5%
Consumer Cyclical	4.0%	2.6%
Basic Materials	0.9%	-
Communication Services	-	-
Consumer Defensive	-	-
Energy	-	36.3%
Financial Services	-	-
Healthcare	-	-
Real Estate	-	-

Return for Risk

RAYS vs. CTEX — Risk / Return Rank

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

RAYS

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

CTEX

CTEX Risk / Return Rank: 79
CTEX Sharpe Ratio Rank: 87
CTEX Sortino Ratio Rank: 71
CTEX Omega Ratio Rank: 69
CTEX Calmar Ratio Rank: 90
CTEX Martin Ratio Rank: 77

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.

RAYS vs. CTEX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Global X Solar ETF (RAYS) and ProShares S&P Kensho Cleantech ETF (CTEX). 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.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	RAYS	CTEX	Difference
Sharpe ratio: Return per unit of total volatility	—	2.65	—
Sortino ratio: Return per unit of downside risk	—	2.98	—
Omega ratio: Gain probability vs. loss probability	—	1.38	—
Calmar ratio: Return relative to maximum drawdown	—	5.35	—
Martin ratio: Return relative to average drawdown	—	13.69	—

Drawdowns

RAYS vs. CTEX - Drawdown Comparison

The maximum RAYS drawdown since its inception was 0.00%, smaller than the maximum CTEX drawdown of -70.31%. Use the drawdown chart below to compare losses from any high point for RAYS and CTEX.

Drawdown Indicators

	RAYS	CTEX	Difference
Max Drawdown Largest peak-to-trough decline	0.00%	-70.31%	+70.31%
Max Drawdown (1Y) Largest decline over 1 year	—	-21.90%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-56.83%	—
Current Drawdown Current decline from peak	0.00%	-17.23%	+17.23%
Average Drawdown Average peak-to-trough decline	0.00%	-41.61%	+41.61%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	8.53%	—

Volatility

Volatility by Period

	RAYS	CTEX	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	19.24%	—
Volatility (6M) Calculated over the trailing 6-month period	—	32.48%	—
Volatility (1Y) Calculated over the trailing 1-year period	0.00%	44.17%	-44.17%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	0.00%	43.59%	-43.59%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	0.00%	43.59%	-43.59%

RAYS vs. CTEX - Expense Ratio Comparison

RAYS has a 0.50% expense ratio, which is lower than CTEX's 0.58% expense ratio.

Dividends

RAYS vs. CTEX - Dividend Comparison

RAYS has not paid dividends to shareholders, while CTEX's dividend yield for the trailing twelve months is around 1.73%.

Position	TTM	2025	2024	2023
CTEX ProShares S&P Kensho Cleantech ETF	1.73%	2.17%	0.57%	0.12%
RAYS Global X Solar ETF	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Which ETF is better, RAYS or CTEX?

On fees, RAYS is cheaper at 0.50% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, RAYS or CTEX?

RAYS is cheaper with a 0.50% expense ratio, compared with 0.58% for CTEX.

Which ETF pays a higher dividend yield, RAYS or CTEX?

CTEX has the higher dividend yield at 1.73%, compared with 0.00% for RAYS.

What is the main difference between RAYS and CTEX?

RAYS tracks Solactive Solar Index, while CTEX tracks S&P Kensho Cleantech Index. They also come from different issuers: Global X and ProShares. Their fees differ too: 0.50% for RAYS and 0.58% for CTEX.