RAYS vs. PBW

Last updated Aug 2, 2026

RAYS (Global X Solar ETF) and PBW (Invesco WilderHill Clean Energy ETF) are both Alternative Energy Equities funds - RAYS tracks the Solactive Solar Index while PBW tracks the The WilderHill Clean Energy Index (AMEX). Both are passively managed. RAYS charges 0.50%/yr vs 0.61%/yr for PBW.

Performance

RAYS vs. PBW - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Global X Solar ETF (RAYS) and Invesco WilderHill Clean Energy ETF (PBW). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

RAYS

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

PBW

• 1D: 0.16%
• 1M: -12.22%
• 6M: -4.18%
• YTD: 5.86%
• 1Y: 46.40%
• 3Y*: -7.64%
• 5Y*: -15.46%
• 10Y*: 7.09%
• ALL TIME*: -2.58%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
PBW Invesco WilderHill Clean Energy ETF	$37.14M	$32.16M	$36.05M
RAYS Global X Solar ETF	$0.00	$0.00	$0.00

RAYS vs. PBW - Yearly Performance Comparison

	2026 (YTD)
RAYS Global X Solar ETF	0.00%
PBW Invesco WilderHill Clean Energy ETF	1.22%

RAYS vs. PBW - Sectors Allocation Comparison

Sectors	RAYS	PBW
Technology	66.9%	23.6%
Industrials	21.4%	25.7%
Utilities	6.8%	9.1%
Consumer Cyclical	4.0%	15.3%
Basic Materials	0.9%	16.3%
Communication Services	-	-
Consumer Defensive	-	2.1%
Energy	-	3.9%
Financial Services	-	1.4%
Healthcare	-	-
Real Estate	-	-

Return for Risk

RAYS vs. PBW — Risk / Return Rank

Compare historical risk-adjusted metric ranks 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.

PBW

PBW Risk / Return Rank: 38
PBW Sharpe Ratio Rank: 40
PBW Sortino Ratio Rank: 40
PBW Omega Ratio Rank: 38
PBW Calmar Ratio Rank: 35
PBW Martin Ratio Rank: 36

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

RAYS vs. PBW - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Global X Solar ETF (RAYS) and Invesco WilderHill Clean Energy ETF (PBW). 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	PBW	Difference
Sharpe ratio: Return per unit of total volatility	—	0.98	—
Sortino ratio: Return per unit of downside risk	—	1.49	—
Omega ratio: Gain probability vs. loss probability	—	1.18	—
Calmar ratio: Return relative to maximum drawdown	—	1.20	—
Martin ratio: Return relative to average drawdown	—	3.64	—

Drawdowns

RAYS vs. PBW - Drawdown Comparison

The maximum RAYS drawdown since its inception was 0.00%, smaller than the maximum PBW drawdown of -89.02%. Use the drawdown chart below to compare losses from any high point for RAYS and PBW.

Drawdown Indicators

	RAYS	PBW	Difference
Max Drawdown Largest peak-to-trough decline	0.00%	-89.02%	+89.02%
Max Drawdown (1Y) Largest decline over 1 year	—	-36.09%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-65.32%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-84.50%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-89.02%	—
Current Drawdown Current decline from peak	0.00%	-73.32%	+73.32%
Average Drawdown Average peak-to-trough decline	0.00%	-62.94%	+62.94%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	11.82%	—

Volatility

Volatility by Period

	RAYS	PBW	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	14.90%	—
Volatility (6M) Calculated over the trailing 6-month period	—	33.63%	—
Volatility (1Y) Calculated over the trailing 1-year period	0.00%	44.14%	-44.14%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	0.00%	43.61%	-43.61%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	0.00%	39.25%	-39.25%

RAYS vs. PBW - Expense Ratio Comparison

RAYS has a 0.50% expense ratio, which is lower than PBW's 0.61% expense ratio.

Dividends

RAYS vs. PBW - Dividend Comparison

RAYS has not paid dividends to shareholders, while PBW's dividend yield for the trailing twelve months is around 1.47%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
PBW Invesco WilderHill Clean Energy ETF	1.47%	0.79%	2.84%	3.68%	4.21%	1.71%	0.44%	1.45%	2.04%	1.28%	2.68%	1.53%
RAYS Global X Solar ETF	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Which ETF is better, RAYS or PBW?

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 PBW?

RAYS is cheaper with a 0.50% expense ratio, compared with 0.61% for PBW.

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

PBW has the higher dividend yield at 1.47%, compared with 0.00% for RAYS.

What is the main difference between RAYS and PBW?

RAYS tracks Solactive Solar Index, while PBW tracks The WilderHill Clean Energy Index (AMEX). They also come from different issuers: Global X and Invesco. Their fees differ too: 0.50% for RAYS and 0.61% for PBW.