RAYS vs. CVX
Compare and contrast key facts about Global X Solar ETF (RAYS) and Chevron Corporation (CVX).
RAYS is a passively managed fund by Global X that tracks the performance of the Solactive Solar Index. It was launched on Sep 8, 2021.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: RAYS or CVX.
Key characteristics
| RAYS | CVX | |
|---|---|---|
| YTD Return | -22.07% | 8.63% |
| 1Y Return | -11.34% | 15.36% |
| 3Y Return (Ann) | -27.53% | 15.06% |
| Sharpe Ratio | -0.28 | 0.80 |
| Sortino Ratio | -0.12 | 1.19 |
| Omega Ratio | 0.99 | 1.15 |
| Calmar Ratio | -0.17 | 0.67 |
| Martin Ratio | -0.64 | 2.48 |
| Ulcer Index | 18.15% | 6.03% |
| Daily Std Dev | 42.07% | 18.76% |
| Max Drawdown | -66.93% | -55.77% |
| Current Drawdown | -63.80% | -10.32% |
Correlation
The correlation between RAYS and CVX is 0.20, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.
Performance
RAYS vs. CVX - Performance Comparison
In the year-to-date period, RAYS achieves a -22.07% return, which is significantly lower than CVX's 8.63% return. The chart below displays the growth of a $10,000 investment in both assets, with all prices adjusted for splits and dividends.
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Risk-Adjusted Performance
RAYS vs. CVX - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for Global X Solar ETF (RAYS) and Chevron Corporation (CVX). 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.
Dividends
RAYS vs. CVX - Dividend Comparison
RAYS's dividend yield for the trailing twelve months is around 0.30%, less than CVX's 4.08% yield.
| TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
RAYS Global X Solar ETF | 0.30% | 0.00% | 0.00% | 0.02% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
CVX Chevron Corporation | 4.08% | 4.05% | 3.16% | 4.52% | 6.11% | 3.95% | 4.12% | 3.45% | 3.64% | 4.76% | 3.75% | 3.12% |
Drawdowns
RAYS vs. CVX - Drawdown Comparison
The maximum RAYS drawdown since its inception was -66.93%, which is greater than CVX's maximum drawdown of -55.77%. Use the drawdown chart below to compare losses from any high point for RAYS and CVX. For additional features, visit the drawdowns tool.
Volatility
RAYS vs. CVX - Volatility Comparison
Global X Solar ETF (RAYS) has a higher volatility of 16.33% compared to Chevron Corporation (CVX) at 5.51%. This indicates that RAYS's price experiences larger fluctuations and is considered to be riskier than CVX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.