SMLD.DE vs. QCLN.DE
SMLD.DE (Invesco Morningstar US Energy Infrastructure MLP UCITS ETF Dist) and QCLN.DE (First Trust Nasdaq Clean Edge Green Energy UCITS ETF Acc) are both Energy Equities funds - SMLD.DE tracks the Morningstar MLP Composite while QCLN.DE tracks the S&P Global Clean Energy TR USD. Both are passively managed. Over the past 5 years, SMLD.DE returned 25.24%/yr vs 2.29%/yr for QCLN.DE. At a 0.26 correlation, their price movements are largely independent. SMLD.DE charges 0.50%/yr vs 0.60%/yr for QCLN.DE.
Performance
SMLD.DE vs. QCLN.DE - Performance Comparison
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Returns By Period
In the year-to-date period, SMLD.DE achieves a 20.75% return, which is significantly lower than QCLN.DE's 49.11% return.
SMLD.DE
- 1D
- -0.66%
- 1M
- 3.73%
- YTD
- 20.75%
- 6M
- 13.95%
- 1Y
- 14.71%
- 3Y*
- 20.56%
- 5Y*
- 25.24%
- 10Y*
- 15.33%
QCLN.DE
- 1D
- -1.82%
- 1M
- 14.22%
- YTD
- 49.11%
- 6M
- 44.27%
- 1Y
- 112.94%
- 3Y*
- 8.07%
- 5Y*
- 2.29%
- 10Y*
- —
SMLD.DE vs. QCLN.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
SMLD.DE Invesco Morningstar US Energy Infrastructure MLP UCITS ETF Dist | 20.75% | -8.86% | 35.22% | 27.59% | 49.18% | 41.45% |
QCLN.DE First Trust Nasdaq Clean Edge Green Energy UCITS ETF Acc | 49.11% | 16.50% | -14.54% | -10.39% | -26.09% | -12.74% |
Correlation
The correlation between SMLD.DE and QCLN.DE is 0.04, 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 | 0.04 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.19 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.26 |
Correlation (All Time) Calculated using the full available price history since Feb 22, 2021 | 0.26 |
Over the past year, the correlation between SMLD.DE and QCLN.DE has dropped to 0.04 - well below their long-term average of 0.26, suggesting their price drivers have been diverging.
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Return for Risk
SMLD.DE vs. QCLN.DE — Risk / Return Rank
SMLD.DE
QCLN.DE
SMLD.DE vs. QCLN.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco Morningstar US Energy Infrastructure MLP UCITS ETF Dist (SMLD.DE) and First Trust Nasdaq Clean Edge Green Energy UCITS ETF Acc (QCLN.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.
| SMLD.DE | QCLN.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.68 | ||
| Sortino ratioReturn per unit of downside risk | -2.85 | ||
| Omega ratioGain probability vs. loss probability | 1.15 | 1.44 | -0.29 |
| Calmar ratioReturn relative to maximum drawdown | 0.92 | 7.93 | -7.01 |
| Martin ratioReturn relative to average drawdown | 1.91 | 24.33 | -22.42 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| SMLD.DE | QCLN.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.51 | 3.20 | -2.68 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 1.10 | 0.06 | +1.04 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.44 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.29 | -0.08 | +0.37 |
Drawdowns
SMLD.DE vs. QCLN.DE - Drawdown Comparison
The maximum SMLD.DE drawdown since its inception was -73.78%, which is greater than QCLN.DE's maximum drawdown of -69.59%. Use the drawdown chart below to compare losses from any high point for SMLD.DE and QCLN.DE.
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Drawdown Indicators
| SMLD.DE | QCLN.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -73.78% | -69.59% | -4.19% |
Max Drawdown (1Y)Largest decline over 1 year | -14.77% | -14.04% | -0.73% |
Max Drawdown (3Y)Largest decline over 3 years | -22.99% | -56.68% | +33.69% |
Max Drawdown (5Y)Largest decline over 5 years | -22.99% | -69.59% | +46.60% |
Max Drawdown (10Y)Largest decline over 10 years | -70.79% | — | — |
Current DrawdownCurrent decline from peak | -3.47% | -20.21% | +16.74% |
Average DrawdownAverage peak-to-trough decline | -17.76% | -39.08% | +21.32% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 7.16% | 4.59% | +2.57% |
Volatility
SMLD.DE vs. QCLN.DE - Volatility Comparison
The current volatility for Invesco Morningstar US Energy Infrastructure MLP UCITS ETF Dist (SMLD.DE) is 5.38%, while First Trust Nasdaq Clean Edge Green Energy UCITS ETF Acc (QCLN.DE) has a volatility of 14.59%. This indicates that SMLD.DE experiences smaller price fluctuations and is considered to be less risky than QCLN.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SMLD.DE | QCLN.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.38% | 14.59% | -9.21% |
Volatility (6M)Calculated over the trailing 6-month period | 12.79% | 24.80% | -12.01% |
Volatility (1Y)Calculated over the trailing 1-year period | 26.64% | 34.84% | -8.20% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 22.60% | 36.29% | -13.69% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 34.70% | 36.76% | -2.06% |
SMLD.DE vs. QCLN.DE - Expense Ratio Comparison
SMLD.DE has a 0.50% expense ratio, which is lower than QCLN.DE's 0.60% expense ratio.
Dividends
SMLD.DE vs. QCLN.DE - Dividend Comparison
SMLD.DE's dividend yield for the trailing twelve months is around 7.55%, while QCLN.DE has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
QCLN.DE First Trust Nasdaq Clean Edge Green Energy UCITS ETF Acc | 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 | 7.55% | 8.45% | 12.45% | 18.33% | 14.40% | 17.94% | 25.01% | 18.21% | 21.61% | 18.39% | 14.39% | 20.63% |
Frequently Asked Questions
SMLD.DE and QCLN.DE have a correlation of 0.04, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, SMLD.DE is cheaper at 0.50% per year. The better choice depends on whether you care most about return, fees, risk, or income.
SMLD.DE is cheaper with a 0.50% expense ratio, compared with 0.60% for QCLN.DE.
SMLD.DE tracks Morningstar MLP Composite, while QCLN.DE tracks S&P Global Clean Energy TR USD. They also come from different issuers: Invesco and First Trust. Their fees differ too: 0.50% for SMLD.DE and 0.60% for QCLN.DE.
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