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RNWZ vs. IEO
Performance
Return for Risk
Drawdowns
Volatility
Dividends

RNWZ vs. IEO

Last updated Jun 24, 2026

RNWZ (TrueShares Eagle Global Renewable Energy Income ETF) and IEO (iShares U.S. Oil & Gas Exploration & Production ETF) are both Energy Equities funds. RNWZ is actively managed, while IEO is passively managed. Over the past 3 years, RNWZ returned 11.64%/yr vs 13.56%/yr for IEO. At a 0.18 correlation, their price movements are largely independent. RNWZ charges 0.75%/yr vs 0.42%/yr for IEO.

Performance

RNWZ vs. IEO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in TrueShares Eagle Global Renewable Energy Income ETF (RNWZ) and iShares U.S. Oil & Gas Exploration & Production ETF (IEO). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, RNWZ achieves a 13.62% return, which is significantly lower than IEO's 24.43% return.

RNWZ

1D
-0.37%
1M
-2.92%
YTD
13.62%
6M
14.12%
1Y
31.84%
3Y*
11.64%
5Y*
—
10Y*
—

IEO

1D
0.36%
1M
-7.22%
YTD
24.43%
6M
24.33%
1Y
24.44%
3Y*
13.56%
5Y*
16.99%
10Y*
9.69%
*Multi-year figures are annualized to reflect compound growth (CAGR)

RNWZ vs. IEO - Yearly Performance Comparison

2026 (YTD)2025202420232022
RNWZ
TrueShares Eagle Global Renewable Energy Income ETF		13.62%36.33%-7.36%-3.89%-0.74%
IEO
iShares U.S. Oil & Gas Exploration & Production ETF		24.43%2.15%-1.45%3.57%3.34%

Correlation

The correlation between RNWZ and IEO is 0.02, 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

0.02

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

0.13

Correlation (All Time)
Calculated using the full available price history since Dec 9, 2022

0.18

The correlation between RNWZ and IEO shifts across timeframes, from 0.02 (1 year) to 0.18 (all time), reflecting how their relationship changes across market environments.

RNWZ vs. IEO - Sectors Allocation Comparison

Sectors
RNWZ
IEO

Utilities

41.0%

-

Financial Services

6.7%

-

Industrials

5.3%

-

Basic Materials

4.8%
0.7%

Energy

3.7%
99.3%

Real Estate

3.1%

-

Communication Services

-

-

Consumer Cyclical

-

-

Consumer Defensive

-

-

Healthcare

-

-

Technology

-

-

Utilities

RNWZ
41.0%
IEO

-

Financial Services

RNWZ
6.7%
IEO

-

Industrials

RNWZ
5.3%
IEO

-

Basic Materials

RNWZ
4.8%
IEO
0.7%

Energy

RNWZ
3.7%
IEO
99.3%

Real Estate

RNWZ
3.1%
IEO

-

Communication Services

RNWZ

-

IEO

-

Consumer Cyclical

RNWZ

-

IEO

-

Consumer Defensive

RNWZ

-

IEO

-

Healthcare

RNWZ

-

IEO

-

Technology

RNWZ

-

IEO

-

Compare stocks, funds, or ETFs

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TrueShares Eagle Global Renewable Energy Income ETF

iShares U.S. Oil & Gas Exploration & Production ETF

Often compared with RNWZ:
RNWZ vs. VCLNRNWZ vs. ECLNRNWZ vs. XLEIRNWZ vs. COPJRNWZ vs. NUKZRNWZ vs. CRAKRNWZ vs. XLE
Often compared with IEO:
IEO vs. XLEIEO vs. VDEIEO vs. FCGIEO vs. FENYIEO vs. DEOIEO vs. PCEFIEO vs. IEZ

Return for Risk

RNWZ vs. IEO — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
RNWZ
RNWZ Risk / Return Rank: 7171
Overall Rank
RNWZ Sharpe Ratio Rank: 7070
Sharpe Ratio Rank
RNWZ Sortino Ratio Rank: 6868
Sortino Ratio Rank
RNWZ Omega Ratio Rank: 6767
Omega Ratio Rank
RNWZ Calmar Ratio Rank: 8585
Calmar Ratio Rank
RNWZ Martin Ratio Rank: 6767
Martin Ratio Rank
IEO
IEO Risk / Return Rank: 2828
Overall Rank
IEO Sharpe Ratio Rank: 2727
Sharpe Ratio Rank
IEO Sortino Ratio Rank: 2626
Sortino Ratio Rank
IEO Omega Ratio Rank: 2525
Omega Ratio Rank
IEO Calmar Ratio Rank: 3131
Calmar Ratio Rank
IEO Martin Ratio Rank: 3030
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.

RNWZ vs. IEO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for TrueShares Eagle Global Renewable Energy Income ETF (RNWZ) and iShares U.S. Oil & Gas Exploration & Production ETF (IEO). 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.

RNWZIEODifference
Sharpe ratioReturn per unit of total volatility
2.10
0.96

+1.13

Sortino ratioReturn per unit of downside risk
2.86
1.39

+1.47

Omega ratioGain probability vs. loss probability

1.37

1.17

+0.20

Calmar ratioReturn relative to maximum drawdown

4.34

1.50

+2.84

Martin ratioReturn relative to average drawdown

11.33

4.18

+7.16

RNWZ vs. IEO - Sharpe Ratio Comparison

The current RNWZ Sharpe Ratio is 2.10, which is higher than the IEO Sharpe Ratio of 0.96. The chart below compares the historical Sharpe Ratios of RNWZ and IEO, 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

RNWZ vs. IEO - Drawdown Comparison

The maximum RNWZ drawdown since its inception was -24.90%, smaller than the maximum IEO drawdown of -79.17%. Use the drawdown chart below to compare losses from any high point for RNWZ and IEO.

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Drawdown Indicators

RNWZIEODifference

Max Drawdown

Largest peak-to-trough decline

-24.90%

-79.17%

+54.27%

Max Drawdown (1Y)

Largest decline over 1 year

-7.36%

-16.32%

+8.96%

Max Drawdown (3Y)

Largest decline over 3 years

-24.74%

-31.46%

+6.72%

Max Drawdown (5Y)

Largest decline over 5 years

—

-31.46%

—

Max Drawdown (10Y)

Largest decline over 10 years

—

-75.00%

—

Current Drawdown

Current decline from peak

-6.64%

-14.30%

+7.66%

Average Drawdown

Average peak-to-trough decline

-7.16%

-26.23%

+19.07%

Ulcer Index

Depth and duration of drawdowns from previous peaks

2.82%

5.87%

-3.05%

Volatility

RNWZ vs. IEO - Volatility Comparison

The current volatility for TrueShares Eagle Global Renewable Energy Income ETF (RNWZ) is 3.99%, while iShares U.S. Oil & Gas Exploration & Production ETF (IEO) has a volatility of 8.60%. This indicates that RNWZ experiences smaller price fluctuations and is considered to be less risky than IEO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

RNWZIEODifference

Volatility (1M)

Calculated over the trailing 1-month period

3.99%

8.60%

-4.61%

Volatility (6M)

Calculated over the trailing 6-month period

12.21%

20.02%

-7.81%

Volatility (1Y)

Calculated over the trailing 1-year period

15.30%

25.66%

-10.36%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

16.95%

30.53%

-13.58%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

16.95%

34.99%

-18.04%

RNWZ vs. IEO - Expense Ratio Comparison

RNWZ has a 0.75% expense ratio, which is higher than IEO's 0.42% expense ratio.

Dividends

RNWZ vs. IEO - Dividend Comparison

RNWZ's dividend yield for the trailing twelve months is around 1.97%, less than IEO's 2.12% yield.

PositionTTM20252024202320222021202020192018201720162015
IEO
iShares U.S. Oil & Gas Exploration & Production ETF		2.12%2.61%2.63%3.00%3.77%2.62%3.17%1.85%1.67%0.94%0.98%2.03%
RNWZ
TrueShares Eagle Global Renewable Energy Income ETF		1.97%2.12%2.36%3.87%0.01%0.00%0.00%0.00%0.00%0.00%0.00%0.00%

Frequently Asked Questions

RNWZ and IEO have a correlation of 0.02, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

IEO has higher volatility (8.60%) compared to RNWZ (3.99%). In terms of maximum drawdown, RNWZ dropped -24.90% vs IEO's -79.17%.

On 3-year performance, IEO leads with 13.56% vs 11.64% for RNWZ. On fees, IEO is cheaper at 0.42% per year. On volatility, RNWZ has been the lower-risk option at 3.99%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 3-year period, IEO has performed better with a 13.56% return vs 11.64%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

IEO is cheaper with a 0.42% expense ratio, compared with 0.75% for RNWZ.

IEO has the higher dividend yield at 2.12%, compared with 1.97% for RNWZ.

They also come from different issuers: TrueShares and iShares. Their fees differ too: 0.75% for RNWZ and 0.42% for IEO.

RNWZ currently has the higher Sharpe Ratio (2.10 vs 0.96), 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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