SUSW.L vs. ICLN

Last updated Jun 5, 2026

SUSW.L (iShares MSCI World SRI UCITS ETF EUR (Acc)) and ICLN (iShares Global Clean Energy ETF) are both exchange-traded funds - SUSW.L is a Global Equities fund tracking the MSCI ACWI NR USD, while ICLN is a Alternative Energy Equities fund tracking the S&P Global Clean Energy Index. Both are passively managed. Over the past 5 years, SUSW.L returned 10.52%/yr vs 3.06%/yr for ICLN. At a 0.38 correlation, their price movements are largely independent. SUSW.L charges 0.20%/yr vs 0.39%/yr for ICLN.

Performance

SUSW.L vs. ICLN - Performance Comparison

The chart below illustrates the hypothetical performance of a €10,000 investment in iShares MSCI World SRI UCITS ETF EUR (Acc) (SUSW.L) and iShares Global Clean Energy ETF (ICLN). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

SUSW.L is traded in EUR, while ICLN is traded in USD. To make them comparable, the ICLN values have been converted to EUR using the latest available exchange rates.

Returns By Period

In the year-to-date period, SUSW.L achieves a 11.31% return, which is significantly lower than ICLN's 42.20% return.

SUSW.L

• 1D: 0.22%
• 1M: 5.87%
• YTD: 11.31%
• 6M: 11.72%
• 1Y: 18.68%
• 3Y*: 12.95%
• 5Y*: 10.52%
• 10Y*: —

ICLN

• 1D: -0.10%
• 1M: 9.22%
• YTD: 42.20%
• 6M: 37.55%
• 1Y: 80.58%
• 3Y*: 6.17%
• 5Y*: 3.06%
• 10Y*: 11.54%

*Multi-year figures are annualized to reflect compound growth (CAGR)

SUSW.L vs. ICLN - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
SUSW.L iShares MSCI World SRI UCITS ETF EUR (Acc)	11.31%	1.89%	18.34%	20.78%	-16.40%	35.65%	10.76%	32.32%	-3.09%	2.02%
ICLN iShares Global Clean Energy ETF	42.20%	29.60%	-20.81%	-22.79%	0.43%	-18.51%	121.89%	47.62%	-4.76%	0.58%

Correlation

The correlation between SUSW.L and ICLN is 0.39, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.39
Correlation (3Y) Calculated over the trailing 3-year period	0.34
Correlation (5Y) Calculated over the trailing 5-year period	0.35
Correlation (All Time) Calculated using the full available price history since Oct 24, 2017	0.38

SUSW.L vs. ICLN - Sectors Allocation Comparison

Sectors	SUSW.L	ICLN
Technology	30.6%	11.1%
Financial Services	17.1%	-
Industrials	11.8%	27.8%
Healthcare	9.3%	-
Consumer Cyclical	9.2%	0.1%
Communication Services	7.7%	-
Consumer Defensive	6.2%	-
Basic Materials	4.0%	1.1%
Real Estate	2.3%	-
Utilities	1.8%	32.8%
Energy	-	26.4%

Return for Risk

SUSW.L vs. ICLN — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

SUSW.L

SUSW.L Risk / Return Rank: 46
SUSW.L Sharpe Ratio Rank: 43
SUSW.L Sortino Ratio Rank: 44
SUSW.L Omega Ratio Rank: 44
SUSW.L Calmar Ratio Rank: 48
SUSW.L Martin Ratio Rank: 52

ICLN

ICLN Risk / Return Rank: 89
ICLN Sharpe Ratio Rank: 91
ICLN Sortino Ratio Rank: 86
ICLN Omega Ratio Rank: 81
ICLN Calmar Ratio Rank: 94
ICLN Martin Ratio Rank: 91

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.

SUSW.L vs. ICLN - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares MSCI World SRI UCITS ETF EUR (Acc) (SUSW.L) 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.

	SUSW.L	ICLN	Difference
Sharpe ratio: Return per unit of total volatility	1.50	3.19	-1.69
Sortino ratio: Return per unit of downside risk	2.18	3.93	-1.74
Omega ratio: Gain probability vs. loss probability	1.28	1.49	-0.21
Calmar ratio: Return relative to maximum drawdown	2.35	6.34	-3.99
Martin ratio: Return relative to average drawdown	8.66	19.50	-10.83
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

SUSW.L vs. ICLN - Sharpe Ratio Comparison

The current SUSW.L Sharpe Ratio is 1.50, which is lower than the ICLN Sharpe Ratio of 3.19. The chart below compares the historical Sharpe Ratios of SUSW.L 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.

Sharpe Ratios by Period

	SUSW.L	ICLN	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.50	3.19	-1.69
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.72	0.12	+0.60
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.44	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.76	-0.03	+0.79

Drawdowns

SUSW.L vs. ICLN - Drawdown Comparison

The maximum SUSW.L drawdown since its inception was -32.09%, smaller than the maximum ICLN drawdown of -84.40%. Use the drawdown chart below to compare losses from any high point for SUSW.L and ICLN.

Drawdown Indicators

	SUSW.L	ICLN	Difference
Max Drawdown Largest peak-to-trough decline	-32.09%	-84.40%	+52.31%
Max Drawdown (1Y) Largest decline over 1 year	-7.80%	-12.78%	+4.98%
Max Drawdown (3Y) Largest decline over 3 years	-21.13%	-43.19%	+22.06%
Max Drawdown (5Y) Largest decline over 5 years	-21.13%	-57.06%	+35.93%
Max Drawdown (10Y) Largest decline over 10 years	—	-62.76%	—
Current Drawdown Current decline from peak	0.00%	-21.73%	+21.73%
Average Drawdown Average peak-to-trough decline	-4.93%	-58.03%	+53.10%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.14%	4.15%	-2.01%

Volatility

SUSW.L vs. ICLN - Volatility Comparison

The current volatility for iShares MSCI World SRI UCITS ETF EUR (Acc) (SUSW.L) is 3.49%, while iShares Global Clean Energy ETF (ICLN) has a volatility of 8.88%. This indicates that SUSW.L 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.

Volatility by Period

	SUSW.L	ICLN	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.49%	8.88%	-5.39%
Volatility (6M) Calculated over the trailing 6-month period	9.12%	19.44%	-10.32%
Volatility (1Y) Calculated over the trailing 1-year period	12.26%	25.41%	-13.15%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.61%	25.70%	-11.09%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.23%	26.44%	-10.21%

SUSW.L vs. ICLN - Expense Ratio Comparison

SUSW.L has a 0.20% expense ratio, which is lower than ICLN's 0.39% expense ratio.

Dividends

SUSW.L vs. ICLN - Dividend Comparison

SUSW.L has not paid dividends to shareholders, while ICLN's dividend yield for the trailing twelve months is around 1.16%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
ICLN iShares Global Clean Energy ETF	1.16%	1.63%	1.85%	1.59%	0.89%	1.18%	0.34%	1.36%	2.77%	2.49%	3.88%	2.36%
SUSW.L iShares MSCI World SRI UCITS ETF EUR (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%

Frequently Asked Questions

Can I hold both SUSW.L and ICLN in my portfolio?

SUSW.L and ICLN have a correlation of 0.39, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, SUSW.L or ICLN?

On fees, SUSW.L is cheaper at 0.20% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, SUSW.L or ICLN?

SUSW.L is cheaper with a 0.20% expense ratio, compared with 0.39% for ICLN.

What is the main difference between SUSW.L and ICLN?

SUSW.L is categorized as Global Equities, while ICLN is Alternative Energy Equities. SUSW.L tracks MSCI ACWI NR USD, while ICLN tracks S&P Global Clean Energy Index. Their fees differ too: 0.20% for SUSW.L and 0.39% for ICLN.