RAYS vs. ICLN
Compare and contrast key facts about Global X Solar ETF (RAYS) and iShares Global Clean Energy ETF (ICLN).
RAYS and ICLN are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. 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. ICLN is a passively managed fund by iShares that tracks the performance of the S&P Global Clean Energy Index. It was launched on Jun 24, 2008. Both RAYS and ICLN are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: RAYS or ICLN.
Key characteristics
| RAYS | ICLN | |
|---|---|---|
| YTD Return | -21.77% | -22.62% |
| 1Y Return | -16.43% | -13.19% |
| 3Y Return (Ann) | -28.10% | -20.97% |
| Sharpe Ratio | -0.27 | -0.26 |
| Sortino Ratio | -0.11 | -0.20 |
| Omega Ratio | 0.99 | 0.98 |
| Calmar Ratio | -0.17 | -0.10 |
| Martin Ratio | -0.61 | -0.61 |
| Ulcer Index | 18.32% | 10.83% |
| Daily Std Dev | 42.25% | 25.94% |
| Max Drawdown | -66.93% | -87.16% |
| Current Drawdown | -63.66% | -68.33% |
Correlation
The correlation between RAYS and ICLN is 0.78, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.
Performance
RAYS vs. ICLN - Performance Comparison
The year-to-date returns for both stocks are quite close, with RAYS having a -21.77% return and ICLN slightly lower at -22.62%. 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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RAYS vs. ICLN - Expense Ratio Comparison
RAYS has a 0.50% expense ratio, which is higher than ICLN's 0.46% expense ratio.
Risk-Adjusted Performance
RAYS vs. ICLN - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for Global X Solar ETF (RAYS) and iShares Global Clean Energy ETF (ICLN). 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. ICLN - Dividend Comparison
RAYS's dividend yield for the trailing twelve months is around 0.30%, less than ICLN's 1.83% 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% |
ICLN iShares Global Clean Energy ETF | 1.83% | 1.59% | 0.89% | 1.18% | 0.34% | 1.36% | 2.77% | 2.49% | 3.88% | 2.36% | 2.83% | 2.11% |
Drawdowns
RAYS vs. ICLN - Drawdown Comparison
The maximum RAYS drawdown since its inception was -66.93%, smaller than the maximum ICLN drawdown of -87.16%. Use the drawdown chart below to compare losses from any high point for RAYS and ICLN. For additional features, visit the drawdowns tool.
Volatility
RAYS vs. ICLN - Volatility Comparison
Global X Solar ETF (RAYS) has a higher volatility of 16.38% compared to iShares Global Clean Energy ETF (ICLN) at 9.29%. This indicates that RAYS's price experiences larger fluctuations and is considered to be riskier than ICLN based on this measure. The chart below showcases a comparison of their rolling one-month volatility.