RAYS vs. TAN

Last updated Jun 24, 2026

RAYS (Global X Solar ETF) and TAN (Invesco Solar ETF) are both Alternative Energy Equities funds - RAYS tracks the Solactive Solar Index while TAN tracks the MAC Global Solar Energy Index. Both are passively managed. RAYS charges 0.50%/yr vs 0.69%/yr for TAN.

Performance

RAYS vs. TAN - Performance Comparison

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

TAN

• 1D: -4.17%
• 1M: -11.21%
• YTD: 19.22%
• 6M: 16.19%
• 1Y: 82.66%
• 3Y*: -4.69%
• 5Y*: -7.06%
• 10Y*: 12.35%

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

RAYS vs. TAN - Yearly Performance Comparison

	2026 (YTD)
RAYS Global X Solar ETF	0.00%
TAN Invesco Solar ETF	4.89%

RAYS vs. TAN - Sectors Allocation Comparison

Sectors	RAYS	TAN
Technology	66.9%	65.1%
Industrials	21.4%	2.3%
Utilities	6.8%	29.2%
Consumer Cyclical	4.0%	-
Basic Materials	0.9%	-
Communication Services	-	-
Consumer Defensive	-	-
Energy	-	57.3%
Financial Services	-	3.5%
Healthcare	-	-
Real Estate	-	-

Return for Risk

RAYS vs. TAN — 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.

TAN

TAN Risk / Return Rank: 68
TAN Sharpe Ratio Rank: 70
TAN Sortino Ratio Rank: 63
TAN Omega Ratio Rank: 55
TAN Calmar Ratio Rank: 79
TAN Martin Ratio Rank: 70

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. TAN - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Global X Solar ETF (RAYS) and Invesco Solar ETF (TAN). 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	TAN	Difference
Sharpe ratio: Return per unit of total volatility	—	2.16	—
Sortino ratio: Return per unit of downside risk	—	2.81	—
Omega ratio: Gain probability vs. loss probability	—	1.33	—
Calmar ratio: Return relative to maximum drawdown	—	3.97	—
Martin ratio: Return relative to average drawdown	—	12.49	—

Drawdowns

RAYS vs. TAN - Drawdown Comparison

The maximum RAYS drawdown since its inception was 0.00%, smaller than the maximum TAN drawdown of -95.29%. Use the drawdown chart below to compare losses from any high point for RAYS and TAN.

Drawdown Indicators

	RAYS	TAN	Difference
Max Drawdown Largest peak-to-trough decline	0.00%	-95.29%	+95.29%
Max Drawdown (1Y) Largest decline over 1 year	—	-20.94%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-64.40%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-73.95%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-78.53%	—
Current Drawdown Current decline from peak	0.00%	-73.11%	+73.11%
Average Drawdown Average peak-to-trough decline	0.00%	-78.47%	+78.47%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	6.64%	—

Volatility

Volatility by Period

	RAYS	TAN	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	16.60%	—
Volatility (6M) Calculated over the trailing 6-month period	—	28.78%	—
Volatility (1Y) Calculated over the trailing 1-year period	0.00%	38.50%	-38.50%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	0.00%	40.14%	-40.14%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	0.00%	38.16%	-38.16%

RAYS vs. TAN - Expense Ratio Comparison

RAYS has a 0.50% expense ratio, which is lower than TAN's 0.69% expense ratio.

Dividends

RAYS vs. TAN - Dividend Comparison

Neither RAYS nor TAN has paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
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%
TAN Invesco Solar ETF	0.00%	0.00%	0.50%	0.09%	0.00%	0.00%	0.09%	0.30%	0.69%	1.77%	5.04%	1.60%

Frequently Asked Questions

Which ETF is better, RAYS or TAN?

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 TAN?

RAYS is cheaper with a 0.50% expense ratio, compared with 0.69% for TAN.

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

RAYS and TAN have nearly identical dividend yields, around 0.00%.

What is the main difference between RAYS and TAN?

RAYS tracks Solactive Solar Index, while TAN tracks MAC Global Solar Energy Index. They also come from different issuers: Global X and Invesco. Their fees differ too: 0.50% for RAYS and 0.69% for TAN.