RAYS vs. TAN

Last updated Apr 2, 2026

Compare and contrast key facts about Global X Solar ETF (RAYS) and Invesco Solar ETF (TAN).

RAYS and TAN 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. TAN is a passively managed fund by Invesco that tracks the performance of the MAC Global Solar Energy Index. It was launched on Apr 15, 2008. Both RAYS and TAN are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.

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.

RAYS vs. TAN - Yearly Performance Comparison

	2026 (YTD)
RAYS Global X Solar ETF	0.00%
TAN Invesco Solar ETF	-2.55%

Returns By Period

RAYS

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

TAN

• 1D: 1.01%
• 1M: -0.16%
• YTD: 14.56%
• 6M: 24.82%
• 1Y: 82.69%
• 3Y*: -10.00%
• 5Y*: -9.00%
• 10Y*: 10.44%

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

RAYS vs. TAN - Expense Ratio Comparison

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

TAN

Invesco Solar ETF

RAYS

Global X Solar ETF

Return for Risk

RAYS vs. TAN — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

TAN

TAN Risk / Return Rank: 91
TAN Sharpe Ratio Rank: 91
TAN Sortino Ratio Rank: 91
TAN Omega Ratio Rank: 82
TAN Calmar Ratio Rank: 97
TAN Martin Ratio Rank: 93

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.

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

Sharpe Ratios by Period

	RAYS	TAN	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	2.10	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	-0.23	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.28	—
Sharpe Ratio (All Time) Calculated using the full available price history	—	-0.15	—

Dividends

RAYS vs. TAN - Dividend Comparison

Neither RAYS nor TAN has paid dividends to shareholders.

	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%

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	—	-16.25%	—
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%	-74.16%	+74.16%
Average Drawdown Average peak-to-trough decline	0.00%	-78.57%	+78.57%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	6.15%	—

Volatility

Volatility by Period

	RAYS	TAN	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	10.07%	—
Volatility (6M) Calculated over the trailing 6-month period	—	26.24%	—
Volatility (1Y) Calculated over the trailing 1-year period	0.00%	39.51%	-39.51%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	0.00%	39.82%	-39.82%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	0.00%	37.78%	-37.78%