RAYS vs. TAN
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.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: RAYS or TAN.
Key characteristics
| RAYS | TAN | |
|---|---|---|
| YTD Return | -21.77% | -34.70% |
| 1Y Return | -16.43% | -24.24% |
| 3Y Return (Ann) | -28.10% | -29.59% |
| Sharpe Ratio | -0.27 | -0.39 |
| Sortino Ratio | -0.11 | -0.33 |
| Omega Ratio | 0.99 | 0.96 |
| Calmar Ratio | -0.17 | -0.19 |
| Martin Ratio | -0.61 | -0.78 |
| Ulcer Index | 18.32% | 20.97% |
| Daily Std Dev | 42.25% | 41.66% |
| Max Drawdown | -66.93% | -95.29% |
| Current Drawdown | -63.66% | -84.08% |
Correlation
The correlation between RAYS and TAN is 0.85, 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. TAN - Performance Comparison
In the year-to-date period, RAYS achieves a -21.77% return, which is significantly higher than TAN's -34.70% return. 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. TAN - Expense Ratio Comparison
RAYS has a 0.50% expense ratio, which is lower than TAN's 0.69% expense ratio.
Risk-Adjusted Performance
RAYS vs. TAN - Risk-Adjusted Performance 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.
Dividends
RAYS vs. TAN - Dividend Comparison
RAYS's dividend yield for the trailing twelve months is around 0.30%, more than TAN's 0.14% 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% |
TAN Invesco Solar ETF | 0.14% | 0.09% | 0.00% | 0.00% | 0.09% | 0.30% | 0.70% | 1.77% | 5.04% | 1.60% | 1.88% | 1.28% |
Drawdowns
RAYS vs. TAN - Drawdown Comparison
The maximum RAYS drawdown since its inception was -66.93%, 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. For additional features, visit the drawdowns tool.
Volatility
RAYS vs. TAN - Volatility Comparison
Global X Solar ETF (RAYS) and Invesco Solar ETF (TAN) have volatilities of 16.38% and 15.62%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.