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RNRG vs. ICLN
Performance
Return for Risk
Drawdowns
Volatility
Dividends

RNRG vs. ICLN

Last updated Jun 24, 2026

RNRG (Global X Funds Global X Renewable Energy Producers ETF) and ICLN (iShares Global Clean Energy ETF) are both Alternative Energy Equities funds - RNRG tracks the Indxx Renewable Energy Producers Index while ICLN tracks the S&P Global Clean Energy Index. Both are passively managed. Over the past 10 years, RNRG returned 3.92%/yr vs 11.38%/yr for ICLN. A 0.68 correlation means they provide meaningful diversification when combined. RNRG charges 0.65%/yr vs 0.39%/yr for ICLN.

Performance

RNRG vs. ICLN - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Global X Funds Global X Renewable Energy Producers ETF (RNRG) and iShares Global Clean Energy ETF (ICLN). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, RNRG achieves a 8.88% return, which is significantly lower than ICLN's 26.14% return. Over the past 10 years, RNRG has underperformed ICLN with an annualized return of 3.92%, while ICLN has yielded a comparatively higher 11.38% annualized return.

RNRG

1D
-0.67%
1M
-4.53%
YTD
8.88%
6M
9.48%
1Y
28.40%
3Y*
1.96%
5Y*
-4.62%
10Y*
3.92%

ICLN

1D
-4.44%
1M
-7.52%
YTD
26.14%
6M
25.31%
1Y
64.46%
3Y*
6.74%
5Y*
-0.79%
10Y*
11.38%
*Multi-year figures are annualized to reflect compound growth (CAGR)

RNRG vs. ICLN - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
RNRG
Global X Funds Global X Renewable Energy Producers ETF		8.88%29.61%-22.00%-12.82%-15.30%-12.78%26.67%37.04%-6.22%21.16%
ICLN
iShares Global Clean Energy ETF		26.14%47.05%-25.72%-20.41%-5.43%-24.18%141.82%44.36%-9.03%21.47%

Correlation

The correlation between RNRG and ICLN is 0.70, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.70

Correlation (3Y)
Calculated over the trailing 3-year period

0.76

Correlation (5Y)
Calculated over the trailing 5-year period

0.78

Correlation (10Y)
Calculated over the trailing 10-year period

0.70

Correlation (All Time)
Calculated using the full available price history since May 28, 2015

0.68

The correlation between RNRG and ICLN shifts across timeframes, from 0.68 (all time) to 0.78 (5 years), reflecting how their relationship changes across market environments.

RNRG vs. ICLN - Sectors Allocation Comparison

Sectors
RNRG
ICLN

Utilities

92.2%
34.6%

Industrials

3.0%
28.7%

Technology

2.8%
10.5%

Basic Materials

2.0%
1.3%

Communication Services

-

-

Consumer Cyclical

-

0.1%

Consumer Defensive

-

-

Energy

-

23.7%

Financial Services

-

-

Healthcare

-

-

Real Estate

-

-

Utilities

RNRG
92.2%
ICLN
34.6%

Industrials

RNRG
3.0%
ICLN
28.7%

Technology

RNRG
2.8%
ICLN
10.5%

Basic Materials

RNRG
2.0%
ICLN
1.3%

Communication Services

RNRG

-

ICLN

-

Consumer Cyclical

RNRG

-

ICLN
0.1%

Consumer Defensive

RNRG

-

ICLN

-

Energy

RNRG

-

ICLN
23.7%

Financial Services

RNRG

-

ICLN

-

Healthcare

RNRG

-

ICLN

-

Real Estate

RNRG

-

ICLN

-

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

Global X Funds Global X Renewable Energy Producers ETF

iShares Global Clean Energy ETF

Often compared with RNRG:
RNRG vs. PBWRNRG vs. EFRARNRG vs. VDERNRG vs. CNRGRNRG vs. UTGRNRG vs. IYERNRG vs. XLU
Often compared with ICLN:
ICLN vs. TANICLN vs. QCLNICLN vs. GRIDICLN vs. INRG.LICLN vs. PBWICLN vs. CNRGICLN vs. LIT

Return for Risk

RNRG vs. ICLN — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
RNRG
RNRG Risk / Return Rank: 5959
Overall Rank
RNRG Sharpe Ratio Rank: 5757
Sharpe Ratio Rank
RNRG Sortino Ratio Rank: 5454
Sortino Ratio Rank
RNRG Omega Ratio Rank: 5050
Omega Ratio Rank
RNRG Calmar Ratio Rank: 6868
Calmar Ratio Rank
RNRG Martin Ratio Rank: 6565
Martin Ratio Rank
ICLN
ICLN Risk / Return Rank: 7070
Overall Rank
ICLN Sharpe Ratio Rank: 7474
Sharpe Ratio Rank
ICLN Sortino Ratio Rank: 6464
Sortino Ratio Rank
ICLN Omega Ratio Rank: 6060
Omega Ratio Rank
ICLN Calmar Ratio Rank: 7979
Calmar Ratio Rank
ICLN Martin Ratio Rank: 7575
Martin Ratio Rank
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.

RNRG vs. ICLN - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Global X Funds Global X Renewable Energy Producers ETF (RNRG) and iShares Global Clean Energy ETF (ICLN). 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.

RNRGICLNDifference
Sharpe ratioReturn per unit of total volatility
1.78
2.27

-0.49

Sortino ratioReturn per unit of downside risk
2.45
2.84

-0.38

Omega ratioGain probability vs. loss probability

1.30

1.36

-0.06

Calmar ratioReturn relative to maximum drawdown

3.17

3.96

-0.79

Martin ratioReturn relative to average drawdown

11.12

13.73

-2.61

RNRG vs. ICLN - Sharpe Ratio Comparison

The current RNRG Sharpe Ratio is 1.78, which is comparable to the ICLN Sharpe Ratio of 2.27. The chart below compares the historical Sharpe Ratios of RNRG and ICLN, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Drawdowns

RNRG vs. ICLN - Drawdown Comparison

The maximum RNRG drawdown since its inception was -58.79%, smaller than the maximum ICLN drawdown of -87.15%. Use the drawdown chart below to compare losses from any high point for RNRG and ICLN.

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Drawdown Indicators

RNRGICLNDifference

Max Drawdown

Largest peak-to-trough decline

-58.79%

-87.15%

+28.36%

Max Drawdown (1Y)

Largest decline over 1 year

-9.00%

-16.38%

+7.38%

Max Drawdown (3Y)

Largest decline over 3 years

-35.23%

-43.18%

+7.95%

Max Drawdown (5Y)

Largest decline over 5 years

-52.17%

-57.16%

+4.99%

Max Drawdown (10Y)

Largest decline over 10 years

-58.79%

-66.75%

+7.96%

Current Drawdown

Current decline from peak

-35.57%

-43.56%

+7.99%

Average Drawdown

Average peak-to-trough decline

-24.48%

-66.53%

+42.05%

Ulcer Index

Depth and duration of drawdowns from previous peaks

2.56%

4.71%

-2.15%

Volatility

RNRG vs. ICLN - Volatility Comparison

The current volatility for Global X Funds Global X Renewable Energy Producers ETF (RNRG) is 5.83%, while iShares Global Clean Energy ETF (ICLN) has a volatility of 13.47%. This indicates that RNRG experiences smaller price fluctuations and is considered to be less risky than ICLN based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

RNRGICLNDifference

Volatility (1M)

Calculated over the trailing 1-month period

5.83%

13.47%

-7.64%

Volatility (6M)

Calculated over the trailing 6-month period

12.81%

23.14%

-10.33%

Volatility (1Y)

Calculated over the trailing 1-year period

16.03%

28.52%

-12.49%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

20.16%

27.69%

-7.53%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

19.64%

27.33%

-7.69%

RNRG vs. ICLN - Expense Ratio Comparison

RNRG has a 0.65% expense ratio, which is higher than ICLN's 0.39% expense ratio.

Dividends

RNRG vs. ICLN - Dividend Comparison

RNRG's dividend yield for the trailing twelve months is around 1.38%, more than ICLN's 0.89% yield.

PositionTTM20252024202320222021202020192018201720162015
ICLN
iShares Global Clean Energy ETF		0.89%1.63%1.85%1.59%0.89%1.18%0.34%1.36%2.77%2.49%3.88%2.36%
RNRG
Global X Funds Global X Renewable Energy Producers ETF		1.38%1.50%1.48%1.44%1.15%1.10%3.16%2.97%5.22%4.14%5.02%3.48%

Frequently Asked Questions

RNRG and ICLN have a correlation of 0.70, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

ICLN has higher volatility (13.47%) compared to RNRG (5.83%). In terms of maximum drawdown, RNRG dropped -58.79% vs ICLN's -87.15%.

On 10-year performance, ICLN leads with 11.38% vs 3.92% for RNRG. On fees, ICLN is cheaper at 0.39% per year. On volatility, RNRG has been the lower-risk option at 5.83%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 10-year period, ICLN has performed better with a 11.38% return vs 3.92%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

ICLN is cheaper with a 0.39% expense ratio, compared with 0.65% for RNRG.

RNRG has the higher dividend yield at 1.38%, compared with 0.89% for ICLN.

RNRG tracks Indxx Renewable Energy Producers Index, while ICLN tracks S&P Global Clean Energy Index. They also come from different issuers: Global X and iShares. Their fees differ too: 0.65% for RNRG and 0.39% for ICLN.

ICLN currently has the higher Sharpe Ratio (2.27 vs 1.78), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.

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