RENW.DE vs. SMLD.DE
RENW.DE (L&G Clean Energy UCITS ETF) and SMLD.DE (Invesco Morningstar US Energy Infrastructure MLP UCITS ETF Dist) are both Energy Equities funds - RENW.DE tracks the Solactive Clean Energy while SMLD.DE tracks the Morningstar MLP Composite. Both are passively managed. Over the past 5 years, RENW.DE returned 7.10%/yr vs 17.30%/yr for SMLD.DE. At a 0.27 correlation, their price movements are largely independent. RENW.DE charges 0.49%/yr vs 0.50%/yr for SMLD.DE.
Performance
RENW.DE vs. SMLD.DE - Performance Comparison
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Returns By Period
In the year-to-date period, RENW.DE achieves a 35.68% return, which is significantly higher than SMLD.DE's 18.24% return.
RENW.DE
- 1D
- -0.38%
- 1M
- -8.57%
- YTD
- 35.68%
- 6M
- 36.86%
- 1Y
- 70.59%
- 3Y*
- 14.98%
- 5Y*
- 7.10%
- 10Y*
- —
SMLD.DE
- 1D
- 0.47%
- 1M
- -3.56%
- YTD
- 18.24%
- 6M
- 18.50%
- 1Y
- 14.78%
- 3Y*
- 16.01%
- 5Y*
- 17.30%
- 10Y*
- 6.66%
RENW.DE vs. SMLD.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
RENW.DE L&G Clean Energy UCITS ETF | 35.68% | 35.23% | -9.66% | -11.28% | -3.33% | 1.09% | 29.18% |
SMLD.DE Invesco Morningstar US Energy Infrastructure MLP UCITS ETF Dist | 18.24% | -8.84% | 28.79% | 15.50% | 39.45% | 46.81% | 7.48% |
Correlation
The correlation between RENW.DE and SMLD.DE is -0.00, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.00 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.17 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.28 |
Correlation (All Time) Calculated using the full available price history since Nov 11, 2020 | 0.27 |
The correlation between RENW.DE and SMLD.DE shifts across timeframes, from -0.00 (1 year) to 0.28 (5 years), reflecting how their relationship changes across market environments.
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Return for Risk
RENW.DE vs. SMLD.DE — Risk / Return Rank
RENW.DE
SMLD.DE
RENW.DE vs. SMLD.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for L&G Clean Energy UCITS ETF (RENW.DE) and Invesco Morningstar US Energy Infrastructure MLP UCITS ETF Dist (SMLD.DE). 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.
| RENW.DE | SMLD.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +2.06 | ||
| Sortino ratioReturn per unit of downside risk | +2.44 | ||
| Omega ratioGain probability vs. loss probability | 1.48 | 1.16 | +0.32 |
| Calmar ratioReturn relative to maximum drawdown | 5.64 | 1.52 | +4.12 |
| Martin ratioReturn relative to average drawdown | 23.78 | 3.39 | +20.38 |
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Drawdowns
RENW.DE vs. SMLD.DE - Drawdown Comparison
The maximum RENW.DE drawdown since its inception was -43.92%, smaller than the maximum SMLD.DE drawdown of -83.65%. Use the drawdown chart below to compare losses from any high point for RENW.DE and SMLD.DE.
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Drawdown Indicators
| RENW.DE | SMLD.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -43.92% | -83.65% | +39.73% |
Max Drawdown (1Y)Largest decline over 1 year | -12.46% | -9.68% | -2.78% |
Max Drawdown (3Y)Largest decline over 3 years | -33.83% | -22.99% | -10.84% |
Max Drawdown (5Y)Largest decline over 5 years | -42.32% | -22.99% | -19.33% |
Max Drawdown (10Y)Largest decline over 10 years | — | -76.32% | — |
Current DrawdownCurrent decline from peak | -8.57% | -5.47% | -3.10% |
Average DrawdownAverage peak-to-trough decline | -17.18% | -34.06% | +16.88% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.96% | 4.35% | -1.39% |
Volatility
RENW.DE vs. SMLD.DE - Volatility Comparison
L&G Clean Energy UCITS ETF (RENW.DE) has a higher volatility of 8.43% compared to Invesco Morningstar US Energy Infrastructure MLP UCITS ETF Dist (SMLD.DE) at 5.41%. This indicates that RENW.DE's price experiences larger fluctuations and is considered to be riskier than SMLD.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| RENW.DE | SMLD.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 8.43% | 5.41% | +3.02% |
Volatility (6M)Calculated over the trailing 6-month period | 18.29% | 13.07% | +5.22% |
Volatility (1Y)Calculated over the trailing 1-year period | 23.79% | 16.64% | +7.15% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 22.22% | 20.37% | +1.85% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 22.89% | 29.13% | -6.24% |
RENW.DE vs. SMLD.DE - Expense Ratio Comparison
RENW.DE has a 0.49% expense ratio, which is lower than SMLD.DE's 0.50% expense ratio.
Dividends
RENW.DE vs. SMLD.DE - Dividend Comparison
RENW.DE has not paid dividends to shareholders, while SMLD.DE's dividend yield for the trailing twelve months is around 7.86%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
RENW.DE L&G Clean Energy UCITS 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% |
SMLD.DE Invesco Morningstar US Energy Infrastructure MLP UCITS ETF Dist | 7.86% | 8.45% | 7.99% | 8.81% | 8.09% | 8.24% | 11.54% | 9.90% | 9.70% | 8.60% | 7.76% | 9.80% |
Frequently Asked Questions
RENW.DE and SMLD.DE have a correlation of -0.00, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, RENW.DE is cheaper at 0.49% per year. The better choice depends on whether you care most about return, fees, risk, or income.
RENW.DE is cheaper with a 0.49% expense ratio, compared with 0.50% for SMLD.DE.
RENW.DE tracks Solactive Clean Energy, while SMLD.DE tracks Morningstar MLP Composite. They also come from different issuers: Legal & General and Invesco. Their fees differ too: 0.49% for RENW.DE and 0.50% for SMLD.DE.
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