RAYS vs. FRNW

Last updated Jun 24, 2026

RAYS (Global X Solar ETF) and FRNW (Fidelity Clean Energy ETF) are both Alternative Energy Equities funds. RAYS is passively managed, while FRNW is actively managed. RAYS charges 0.50%/yr vs 0.39%/yr for FRNW.

Performance

RAYS vs. FRNW - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Global X Solar ETF (RAYS) and Fidelity Clean Energy ETF (FRNW). 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*: —

FRNW

• 1D: -3.60%
• 1M: -8.48%
• YTD: 20.76%
• 6M: 19.11%
• 1Y: 63.79%
• 3Y*: 7.81%
• 5Y*: —
• 10Y*: —

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

RAYS vs. FRNW - Yearly Performance Comparison

	2026 (YTD)
RAYS Global X Solar ETF	0.00%
FRNW Fidelity Clean Energy ETF	10.90%

RAYS vs. FRNW - Sectors Allocation Comparison

Sectors	RAYS	FRNW
Technology	66.9%	5.7%
Industrials	21.4%	28.3%
Utilities	6.8%	45.2%
Consumer Cyclical	4.0%	-
Basic Materials	0.9%	-
Communication Services	-	-
Consumer Defensive	-	-
Energy	-	20.5%
Financial Services	-	-
Healthcare	-	-
Real Estate	-	-

Return for Risk

RAYS vs. FRNW — 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.

FRNW

FRNW Risk / Return Rank: 76
FRNW Sharpe Ratio Rank: 79
FRNW Sortino Ratio Rank: 71
FRNW Omega Ratio Rank: 65
FRNW Calmar Ratio Rank: 86
FRNW Martin Ratio Rank: 79

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. FRNW - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Global X Solar ETF (RAYS) and Fidelity Clean Energy ETF (FRNW). 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	FRNW	Difference
Sharpe ratio: Return per unit of total volatility	—	2.39	—
Sortino ratio: Return per unit of downside risk	—	3.03	—
Omega ratio: Gain probability vs. loss probability	—	1.37	—
Calmar ratio: Return relative to maximum drawdown	—	4.52	—
Martin ratio: Return relative to average drawdown	—	14.82	—

Drawdowns

RAYS vs. FRNW - Drawdown Comparison

The maximum RAYS drawdown since its inception was 0.00%, smaller than the maximum FRNW drawdown of -59.37%. Use the drawdown chart below to compare losses from any high point for RAYS and FRNW.

Drawdown Indicators

	RAYS	FRNW	Difference
Max Drawdown Largest peak-to-trough decline	0.00%	-59.37%	+59.37%
Max Drawdown (1Y) Largest decline over 1 year	—	-14.20%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-45.14%	—
Current Drawdown Current decline from peak	0.00%	-12.80%	+12.80%
Average Drawdown Average peak-to-trough decline	0.00%	-33.06%	+33.06%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	4.32%	—

Volatility

Volatility by Period

	RAYS	FRNW	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	10.92%	—
Volatility (6M) Calculated over the trailing 6-month period	—	19.84%	—
Volatility (1Y) Calculated over the trailing 1-year period	0.00%	26.88%	-26.88%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	0.00%	28.55%	-28.55%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	0.00%	28.55%	-28.55%

RAYS vs. FRNW - Expense Ratio Comparison

RAYS has a 0.50% expense ratio, which is higher than FRNW's 0.39% expense ratio.

Dividends

RAYS vs. FRNW - Dividend Comparison

RAYS has not paid dividends to shareholders, while FRNW's dividend yield for the trailing twelve months is around 1.13%.

Position	TTM	2025	2024	2023	2022	2021
FRNW Fidelity Clean Energy ETF	1.13%	1.25%	1.43%	1.30%	0.69%	0.04%
RAYS Global X Solar ETF	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Which ETF is better, RAYS or FRNW?

On fees, FRNW is cheaper at 0.39% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, RAYS or FRNW?

FRNW is cheaper with a 0.39% expense ratio, compared with 0.50% for RAYS.

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

FRNW has the higher dividend yield at 1.13%, compared with 0.00% for RAYS.

What is the main difference between RAYS and FRNW?

They also come from different issuers: Global X and Fidelity. Their fees differ too: 0.50% for RAYS and 0.39% for FRNW.